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Both the number of Alternative UCITS funds and assets under management grew in the first quarter of 2013 according to the Alceda Quarterly UCITS Review, produced by leading independent structuring specialist Alceda Fund Management S.A.
Tracking the Absolute Hedge Global UCITS Index, the Alceda UCITS review revealed that the sector advanced 2.56 per cent in Q1 2013. Assets under management stood at EUR96.6billion in March 2013, a 5.1 per cent rise over the first quarter, including the addition of 11 new funds.
All alternative UCITS strategies recorded positive performance in Q1 2013, making it one of the best quarters on
Risk managers are at times advising portfolio managers to take more risk, which – especially in the aftermath of large market events and subsequent de-risking – marks a milestone in the hedge fund industry’s move toward the integration of risk and return management.
That was one of the chief findings at the inaugural Risk Summit, which drew more than 115 attendees from asset allocators and managers, and featured a panel of financial experts including Richard Hoey (pictured), chief economist of BNY Mellon and The Dreyfus Corporation.
Summit panel moderator Tatiana Segal, head of risk management for Skybridge Capital,
In light of continual struggles from European fund managers to comply with the impending AIFMD directive, Nicola Smith, chief executive of hedge fund administrator Helvetic, says that plans by the European Commission to introduce liquidity buffers and leverage caps on financial firms have come at the most inopportune time.
Smith (pictured) states the managers and service providers need to focus their efforts on the implementation of AIFM passports, and therefore require the support of the European institutions, and clear guidance from national regulators, to do so.
“The lack of detailed information, combined with the delays from ESMA, has
The impact of new regulations in the financial services industry is by far the most important systemic-risk concern facing the global capital markets, according to a recent client survey conducted by The Depository Trust & Clearing Corporation (DTCC).
The survey revealed that 82 per cent of industry leaders ranked meeting new regulatory requirements as a top concern in mitigating systemic risks.
“Given the massive scope of Dodd-Frank, CPSS IOSCO, Basel III and other new or enhanced regulations, the tremendous commitment of time and resources necessary to build and maintain compliance structures is clearly keeping people up at night,”
Astmax Asset Management, an asset management firm based in Tokyo, and Gottex Fund Management Sarl have agreed mutual sub-advisory services to provide institutional and other Japanese clients with hedge fund and multi-asset investment solutions.
The parties will offer Japanese clients relevant investment products and services including advanced customised hedge fund investment solutions, active liquid multi-asset products, hedge fund advisory services, managed accounts and specific products for Japanese institutional investors.
Astmax and Gottex believe there is a growing need in the Japanese institutional market for advanced customised hedge fund and multi-asset investment products, as these investors are becoming increasingly apprehensive
Hedge funds took in a net USD817m (0.04 per cent of assets) in March, building on an inflow of USD11.4bn in February.
The results are based on data from 3,409 funds, according to TrimTabs and BarclayHedge.
“The hedge fund industry continues to struggle with performance relative to the S&P 500,” says Sol Waksman, president and founder of BarclayHedge. “The industry delivered a return of 1.1 per cent in March, less than one-third of the S&P 500’s 3.6 per cent rise. Although hedge funds delivered positive returns in 10 of the past 12 months, they trailed the S&P 500
Investors increased allocations to Asian hedge funds in 1Q13 as stimulus measures; quantitative easing and increased bond purchases by the Bank of Japan drove gains across both equities and the HFRX Japan Index.
Total Asia-focused hedge fund capital increased by +7.6 per cent in 1Q13 to nearly USD95 billion, reaching the highest level since Asian hedge fund capital peaked in 2007, according to the latest HFR Asian Hedge Fund Industry Report. Investors allocated over USD1.3 billion in net new capital to Asian hedge funds in 1Q13, the largest quarterly inflow since 3Q11, as the total number of Asian hedge funds
Commodities were lower in April as economic data out of China and Europe supported expectations of continued dampened economic growth.
Nelson Louie, global head of commodities in Credit Suisse’s asset management business, says: "Commodities decreased in April on the back of less than encouraging GDP reports out of the US, China and Europe. Credit spreads of periphery government debt have narrowed dramatically, likely in reaction to incredibly expansionary central bank policies worldwide. The most striking recent examples being Japan’s commitment to even higher levels of quantitative easing than in the US, relative to the size of the economy, and recent reports
Effective 12 April 2013, T2 Advisers (T2A) ceased serving as the investment adviser to GLI Finance Limited (formerly called Greenwich Loan Income Fund Limited) as a result of GLIF’s internalization of its management and a mutual agreement to terminate its management agreement with T2A.
T2A remains the collateral manager for T2 Income Fund CLO I Ltd (in which GLIF owns the equity tranche) and has had recent discussions with GLIF regarding other corporate debt and structured finance collaborations.
The board of the Channel Islands Stock Exchange (CISX) has appointed Stephen Lansdown as non-executive director.
Lansdown (pictured) was co-founder and former chairman of Hargreaves Lansdown, from which he stepped down in November 2012. He is also a majority shareholder of Bristol City Football Club and Bristol Rugby Club.
A fellow of the Institute of Chartered Accountants in England and Wales and a fellow of the Chartered Institute for Securities and Investment, Lansdown was presented with Honorary Degrees from Bristol University (Doctor of Laws) and the University of the West of England (Doctor of Business Administration) in 2012.
