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Managed futures gained 2.55% in April according to the Barclay CTA Index compiled by BarclayHedge. Year-to-date, the Barclay CTA Index is up 2.07%.
“Investor zeal for risk was demonstrated again in April as prices for equities, non-US currencies, and commodities moved higher,” says Sol Waksman (pictured), founder and president of BarclayHedge. “A weakening US dollar and demand from Asia were driving factors.”
All eight of Barclay’s CTA indices made gains in April. The Barclay Diversified Traders Index advanced 3.46%, Systematic Traders added 3.20%, Currency Traders gained 1.64%, and the Agricultural Traders Index was up 1.07%.
“Although the Reuters-CRB Index increased
- 19/05/2011
In April, after a pause in March, the stock market resumed its strong upward trend, as illustrated by the notable performance of the S&P 500 index (+2.96%), which has significantly outperformed the hedge-fund industry over the past few months. Similarly, implicit volatility continued to wane (14.8%) and reached its lowest level for the past four years.
On the fixed-income market, after a mildly positive result in March, convertible bonds (+2.68%) scored well again, and were joined by regular bonds (+0.86%), which ended a series of five months of losses with a significant profit. The commodities market (+4.57%) continued its persistent
- 18/05/2011
- 18/05/2011
Hedge fund industry leverage declined in the last 12 months, according to the HFR Leverage Report, released by Hedge Fund Research, Inc. Leverage declined as investor inflows and less volatile performance gains combined to increase global hedge fund industry assets to a record USD2.02 trillion.
Average standard leverage decreased across all hedge fund strategies from 1.27 to 1.10 times investment capital, while average margin to equity also declined, falling from 17.13 to 16.98 per cent, year over year. The per centage of funds which do not typically utilise leverage rose to approximately one third of all funds, an increase of
- 18/05/2011
Barclays Capital and HFR Asset Management, LLC, (HFR) have announced the launch of a managed accounts relationship. The combined effort brings together HFR Group’s market leading managed account platform and client tools with Barclays Capital’s extensive distribution, structuring and fund-linked product expertise.
Under the arrangement, Barclays Capital will be able to offer its clients risk management and financing solutions linked to managed accounts on the HFR platform through a variety of bespoke delivery mechanisms including UCITS funds, certificates, notes, swaps and unit trusts. With more than 1,000 hedge fund strategies available, the HFR platform provides access to leading hedge fund
- 18/05/2011
Renaissance Capital has selected Imagine Software’s award-winning hosted ASP service for real-time portfolio and risk management. Renaissance Capital is a Moscow-based firm managing cash equities, listed options, OTC options, futures, structured finance, and index products with a specific focus on emerging markets. The firm sought a reliable, proven risk management platform to improve efficiencies globally.
“We selected Imagine because its agility, global reach and customisation capabilities deliver the quality risk management we seek,” says Chris Carter, Global Head of Derivatives Trading. “Imagine’s user-friendly interface requires less training and its availability as a hosted service means I have real-time access
- 18/05/2011
Eze Castle Integration’s Eze Cloud services are now available to London-based companies. Based on customer feedback, Eze Castle launched its cloud computing and hosted applications offerings in London last month and is already supporting six firms on the Eze Cloud.
In addition to the Eze Cloud expansion, Eze Castle is now a certified application hosting partner for Tradar’s Insight, the portfolio and accounting technology solution to the global buy-sell market, and Ledgex Systems, a leading fund of hedge fund portfolio management and monitoring platform. These new alliances give Eze Castle customers the ability to choose cloud and application hosting services
- 18/05/2011
By Tyler Kim – In recent months, institutional investors have shown increased interest in the alpha-generating strategies associated with hedge funds. Capital inflows from pension plans, endowments and foundations are redefining the industry as these sophisticated investors seek to improve the way it operates. One trend is a shift toward investment through bespoke managed accounts as opposed to commingled funds.
The benefits of bespoke managed accounts programmes include better liquidity, control and position-level transparency. One often-cited barrier to launching such programmes is the operational complexity of administering them. In this article, we discuss some of these complexities and ways they
- 18/05/2011
- 18/05/2011
By Simon Gray – With the fourth anniversary approaching of the onset of the credit crunch and the crisis that rocked the hedge fund industry, the growth in investment through managed accounts has proved an enduring legacy of the mayhem of 2007 and 2008. But industry members say there is much greater appreciation today than a couple of years ago that there is not a simple choice for investors between pooled funds and managed accounts, and that a range of options exist depending on their attitudes toward cost and the key benefits they seek.
An example of the evolution underway
- 18/05/2011
By Stefan Keller – The hedge fund industry has just set a new record with more than USD2trn in assets under management, a recovery from the turbulence of 2008-09 that has been accompanied by a shift toward investment through managed accounts. Although this sector has become more competitive over the past couple of years with the entry of new providers into the market, Lyxor Asset Management continues to build on its strength of a platform provider, with 13 years of experience, more than 100 managed accounts and assets under management exceeding USD11bn as of April, including inflows of some USD1bn
- 18/05/2011
- 18/05/2011
By Gabriel Bousbib – We all know by now the key benefits and drawbacks of separate managed accounts. Properly set up and operated separate managed accounts – not to be confused with a ‘fund of one’ – provide independent asset verification and valuation, a stable financing environment, the ability by both investor and the manager to control inflows and outflows, and superior governance.
The drawbacks of managed accounts are also well documented, including possible negative selection bias (since some top managers decline to offer separate accounts, even for very large investors), additional operating costs and tracking error compared with the
- 18/05/2011
- 18/05/2011
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