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The UCITS IV-compliant Dexia Long Short Credit fund launched in October 2009. The fund builds its long and short positions by screening for investment opportunities in the broad investment grade and high yield corporate bond markets of Europe and the US. The minimum high yield rating for net long credit exposure is B-.
Since inception, the fund has returned 11.56 per cent flat compared to 1.64 per cent for Eonia (as at Feb 2012). It has a historic Sharpe Ratio of 2.82. Last year, it delivered 3.98 per cent, and was able to keep volatility to within 60 to 70
In 1997, David Harding and two employees established Winton with approximately USD2million. Today, that figure stands at an incredible USD25.75billion. Before Winton, Harding was the H in AHL. Once AHL had been assumed into Man Group by 1994, Harding started Man Research before leaving in 1996. Winton Capital is now Europe’s largest CTA manager and the world’s fifth largest hedge fund firm.
The firm’s flagship fund is the Winton Futures Fund. The portfolio is split roughly 20 per cent in equities, 20 per cent in fixed income, 20 per cent in currencies, with the remainder in commodities and interest rates
Mendon Capital Advisors is based in Rochester, New York. Founded in 1996 by Anton Schutz (pictured), the fund employs a long/short equity strategy with an event-driven slant, and focuses primarily on the US financial services sector.
Since inception, the fund has managed to generate annualised returns of 14.20 per cent, with an annualised risk-free rate of 0.10 per cent and a Sharpe Ratio of 4.00 (through January 2013).
The long book typically holds between 40 and 60 positions, while the short book holds between 15 and 30 positions.
Schutz spent 10 years at Chase Manhattan Bank before setting up Mendon.
By James Williams – The winners of hedgeweek’s Global Awards 2013 gathered at an awards presentation lunch sponsored by Lyxor Asset Management in London’s Mayfair earlier this month.
All agreed that last year was far from a watershed for the hedge fund industry. Some managers pointed to the fact that average returns of 6.2 per cent (according to the HFRI index) did nothing more than paper over the cracks of 2011, when the average hedge fund lost some 5 per cent, but were an institutional investor to take such a simplistic view, they would have missed out on countless compelling opportunities
The winners of the Hedgeweek Global Awards 2013, as voted for by our readers…
Best Long/Short Fund Manager – Mendon Capital Advisors
Best Market Neutral Fund Manager – Insight Investment Management
Best Relative Value Fund Manager – Axa Investment Managers
Best Credit Fund Manager – MKP Capital
Best Distressed Securities Manager – Swiss Capital Alternative Investments AG, Zurich
Best Managed Futures CTA – Winton Capital
Best Fixed Income Fund Manager – Dexia Asset Management
Best Absolute Return Fund Manager – Bernheim, Dreyfus & Co
Best Global Macro Fund Manager – The Cambridge
With just under six weeks to go until the Guernsey Funds Forum 2013, Fiona Le Poidevin (pictured), Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry – looks at what the event has in store this year.
This year’s Guernsey Funds Forum in London will examine the future shape of the global funds industry and ask whether the return of investor confidence will change the dynamics of the sector.
The event will be held at the Grange St Paul’s Hotel in London on 2 May and will culminate in a keynote debate featuring industry experts
Three veteran investment professionals have teamed up to form Witherspoon Asset Management, a Princeton-based investment adviser.
Witherspoon’s principals are Lee Gladden as chief executive, Thomas Kuntz as chief operating officer, and Tyler Vernon as managing director.
Both Gladden and Kuntz share a background from Commodities Corporation.
Witherspoon’s first offering is the Witherspoon Managed Futures Strategy Fund. The fund is designed for investors seeking non-correlated investments that also provide transparency and daily liquidity.
The firm’s approach to managed futures provides an alternative to funds already in the ’40 Act space. Witherspoon focuses on finding tactical specialists who
AcenciA Debt Strategies has reported an increase in the net asset value of 9.7 per cent as at 31 December 2012 to 103.38p and a share price increase of 9.7 per cent to 86.0p.
Both figures take account of dividend paid.
AgensiA is a closed-ended investment company listed on the London Stock Exchange, which invests across the debt spectrum on a global basis through highly focused and concentrated funds specialising in stressed and distressed opportunities.
AgenciA paid total dividends of 3.43p during the year, representing a dividend yield of 3.6 per cent, based on the closing share
Agecroft Partners, a hedge fund consultant and third party marketer, has won the Hedgeweek 2013 Award for Third Party Marketer of the Year.
Hedgeweek’s 41,000 subscribers, institutional investors, wealth managers, hedge fund managers, and industry professionals, voted on the awards.
Winners were named in 35 different categories on 1 March in London’s Mayfair. Agecroft Partners, which also won the Hedgeweek Award in 2012 and in 2011, has been selected five years successively as the Third Party Marketer of the Year by a major industry organisation.
Agecroft uses an institutional due diligence process which incorporates multiple qualitative and
Apex Fund Services, one of the world’s largest independent fund administration companies, is offering free office facilities and fund incubation services to fund managers looking to start a new fund.
The new office facilities service forms part of a new division, Apex Emerging Manager Incubation Services (EMIS), aimed at helping new fund managers establish their funds in the most cost effective way, with the best infrastructure to ensure the funds’ post-launch success.
In addition to providing office space, EMIS offers free advisory services regarding fund structure, jurisdiction selection, launch platforms, cloud hosting, broker networks, administration and, via Apex
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