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AIP-Kingsmont Offshore Fund generated net annual returns of 24.6 per cent including a 7.0 per cent dividend distribution to investors in 2012, as per the firm’s financial statements audited by Rothstein Kass.
These results outperformed the major indexes, hedge fund benchmarks and were achieved against a backdrop of generationally low interest rates.
The fund achieved, net of fees, total return of 24.6 per cent for its investors in 2012 compared with 3.1 per cent for the HFI Global Macro Index and 7.2 per cent for the TSX Index respectively.
The fund’s performance is mainly attributable to its investments
Hedge funds gained 0.75 per cent in April, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
The Index is up 4.96 per cent year to date.
“Equity markets rose again in April on indications of continued easing early in the month and positive earnings reports later in the month,” says Sol Waksman, founder and president of BarclayHedge.
Overall, 15 of Barclay’s 18 hedge fund strategies had positive returns in April. The Barclay Pacific Rim Equities Index continued its strong performance, adding 4.39 per cent. Pacific Rim Equities now have eight straight months of gains, and
The first futures commission merchant (FCM) has completed production testing for Traiana’s central risk management infrastructure for swaps clearing.
This firm is now ready to go live with clients trading interest rate derivatives and credit default swaps on swap execution facilities (SEFs) or designated contract markets (DCMs) with pre-trade order screening, as required under the new Dodd-Frank clearing regulations.
Five additional FCMs as well as further buyside firms, fund servicing firms, and order management service providers are currently in the process of joining the service and production testing.
Developed with input from leading FCMs and delivered using
Drury Capital has reported April gains of 8.13 per cent for the Drury Diversified Trend-Following Program.
This strong performance comes at a time when many commodities hedge funds are struggling to make gains.
Drury’s commodity portion of the programme gained a healthy 4.81 per cent on the month. This was partly due to the success of its metals sector which forms 16 per cent of the programme mix and produced a robust 7.93 – in part due to managers exiting the gold short positions to lock in profits. Copper also stands to be Drury’s best performer in base
By Philip Graham, Harneys – As a new ‘regulation-light’ fund manager regime is launched in the British Virgin Islands, eligible fund managers can now count on a simpler application process.
The British Virgin Islands (BVI) has introduced a new fund manager regime designed to meet the requirements of private equity, venture capital and other fund managers who want to commence business quickly in a cost-effective way. The ‘approved manager’ regime came into effect on 10th December, 2012, with the enactment of the Investment Business (Approved Managers) Regulations, 2012 (Regulations) and Approved Investment Managers Guidelines (Guidelines).
The Regulations and Guidelines come
As hedge funds anticipate the finalisation of a JOBS Act provision that will lift advertising restrictions on hedge funds, they are faced with the new challenge of installing more robust investor due diligence procedures.
Although the Securities and Exchange Commission (SEC) has taken a flexible approach to identifying the specific procedures funds must demonstrate to ensure their investors are accredited, SEC Commissioner Elisse Walter has made one thing very clear: no matter what investor accreditation approaches are implemented by hedge funds, the SEC will scrutinise them closely.
In response to the ambiguity surrounding how funds must ensure their
BGC Partners, a brokerage company servicing the wholesale financial and real estate markets, has appointed Jean-Jack Badet as general manager of its business in Switzerland.
Based in Nyon, Badet will be responsible for all of BGC’s financial products business in Switzerland and helping drive business growth in Switzerland.
Badet has more than 30 years’ experience in the financial services industry. He joins BGC from Tradition, where he has worked since 1986 in various roles, including most recently as managing director of the firm’s Switzerland business, coordinating the development of money market products domestically and across Continental Europe. Prior
Liquidnet, the institutional trading network, has made two senior appointments to its London based EMEA trading team to further strengthen and develop relationships with its community of asset management firms.
These hires come on the heels of Liquidnet’s strong quarterly growth in Europe, with total principal traded up 64.7 per cent from Q4 2012.
Julien Fougere has been appointed head of trading coverage EMEA with responsibility for developing Liquidnet’s buy-side institutional member relationships. He will report directly to Tony Booth, head of sales.
Stuart Thompson joins as an execution trader and will support Liquidnet members’ trading needs via
Asset class performance has been very mixed so far this year with currency volatility re-awakened and softening global economic data suggesting more difficult times ahead.
Stephen Cohen (pictured), head of iShares EMEA investment strategy & insight, gives four investment themes set to dominate a more uncertain Q2.
“Recent moves by the Bank of Japan have confirmed that central banks remain the fundamental drivers of today’s markets. This quarter, questions continue over the Fed’s ‘to exit or not to exit’ QE strategy, whilst the ECB’s OMT programme is still the psychological backstop for Europe. The divergence between the US
Fund administration company Apex Fund Services has appointed David Brown as the new managing director of the firm’s Bermuda office.
Brown has worked in the fund administration industry in Bermuda for the last 10 years.
The recent change in government together with the launch of Apex’s Emerging Manager Incubation Services, which includes free office space for emerging managers, have led to Bermuda returning to being a favourable jurisdiction for fund managers to be based.
One of Brown’s roles will be to target European and US fund managers for both their fund domicile and for the location of
