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The Dow Jones Credit Suisse Core Hedge Fund Index closed up 0.72 per cent in April as six of the seven index component strategies reported positive results for the month.
Managed futures led the way with a return of 2.62 per cent for the month, followed by emerging markets (0.90 per cent), event driven (0.76 per cent) and convertible arbitrage (0.75 per cent).
Fixed income arbitrage was the only component strategy to finish the month in negative territory recording a return of −0.01 per cent.
The Dow Jones Credit Suisse Core Hedge Fund Index provides daily published
Singapore Exchange (SGX) has reported growth in derivatives and commodities trading in April.
Securities turnover and over-the-counter (OTC) commodities clearing volume fell month-on-month but rose from a year earlier.
Securities turnover totalled SGD30.5m, down three per cent from March but up 30 per cent from a year earlier.
Securities daily average value was down 12 per cent from March at SGD1.4bn, and 18 per cent higher from a year earlier.
Turnover of Singapore dollar-based Mainboard shares totalled SGD27.3m, up two per cent from March and 29 per cent higher from a year earlier.
Bond fund-raising
Backstop Solutions Group, a Software-as-a-Service provider to the alternative asset management industry, has acquired the PerTrac CMS product line, a customer relationship management tool built exclusively for the institutional investment community.
The business was acquired from eVestment, a provider of institutional investment data and intelligence solutions. Terms of the deal have not been disclosed.
With this acquisition, Backstop now serves over 575 clients in the private investment community, including hedge funds, funds of hedge funds, endowments and foundations, institutional investors, family offices, pensions, private equity firms and consultants. Backstop also opened new offices in New York and London
One of the discussion panels at the Bloomberg Hedge Fund Start-up Conference on 28 November 2012 in London explored some of the legal issues start-up managers need to think about when establishing both the fund, and the fund management structure. Entitled Legal: Getting it Right from the Start, the panellists included Gus Black, Dechert LLP (pictured); Richard Perry, Simmons and Simmons LLP and Chris Hilditch, Schulte Roth & Zabel LLP.
Click here to access our ‘How to set up a hedge fund’ resource centre
Structuring the hedge fund
The first and obvious point is that no single fund structure is
Graham Stock (pictured), chief strategist at Insparo Asset Management comments on Bharti Airtel decision to sell a stake to Qatar investment group…
Bharti Airtel’s desire to raise fresh capital to finance further investment in its African operations highlights the continuing potential for growth on the continent. The roll-out of next generation data services in particularly will be an important driver of growth, as voice services trend to maturity. For example in Kenya where Airtel is the second largest operator, the number of internet subscribers rose 75% in 2012 alone, with mobile subscriptions accounting for 99% of the market. Mobile penetration,
The UCITS Alternative Index Global posted gains of 0.21 per cent in April according to Alix Capital, who host the index. This puts the index at +1.80 per cent for 2013, compared to +1.28 per cent through April last year. Continuing on from strong gains in March, the UAI CTA posted the best performance for April, up +1.81 per cent to leave it at +4.13 per cent for the year.
The next best strategy was UAI Multi-Strategy, up +0.80 per cent, followed by UAI Fixed Income, up +0.50 per cent. Conversely, the UAI FX and UAI Commodities recorded losses of
The Credit Suisse Liquid Alternative Beta Index was up 1.11 per cent in April, according to Dr Jordan Drachman, head of alternative beta strategies at Credit Suisse.
Drachman is the author of a new whitepaper, Flex Ability: The Diversification Potential of Managed Futures.
Drachman says: "The Credit Suisse Liquid Alternative Beta Index, which aims to reflect the performance of the overall hedge fund industry, finished up 1.11 per cent in April. Managed futures was one of the top performing strategies for the month and is the best performing strategy year-to-date.
"The unique risk/return profile of managed futures
Och-Ziff Capital Management Group has reported GAAP net income of USD26.1m, or USD0.17 per basic and diluted class A share, for the first quarter ended 31 March 2013.
The company also declared a USD0.28 per share cash dividend on its Class A Shares for the 2013 first quarter.
Distributable earnings totalled USD136.9m, or USD0.29 per adjusted Class A Share, for the 2013 first quarter, 139 per cent higher than USD57.3m, or USD0.13 per adjusted Class A Share, for the 2012 first quarter.
Revenues included USD101.3m of incentive income on an Economic Income basis for the 2013 first
Hedge funds performed well in April, with the HFRX Global Hedge Fund index closing up 0.6 per cent for the month and up 3.8 per cent for the year-to-date.
Anthony Lawler, portfolio manager at GAM, says: "April was in a number of ways a continuation of the opportunity-rich environment we saw in the first quarter for hedge fund managers. Managers traded positively across all strategies and on both the long and the short side of trades. Some took the view that accommodative central banks in the US and Europe would drive risk prices higher and so were positioned tactically long
Liquidity Finance has appointed Marina Davydova to its emerging markets fixed income team, expanding the company’s focus on the CIS market.
Davydova’s most recent post was at Raymond James in London, managing European fixed income sales. Prior to this Davydova had a four-year tenure at Schildershoven Finance in Moscow, where she was head of fixed income sales.
While at Schildershoven, she managed five salespeople in Russia, two in Kazakhstan, one in Singapore and one in the UAE and she performed a sales-trader role with focus on Kazakh, Russian and Ukrainian institutional clients.
Faisal Mian, co-founder of Liquidity,
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