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February proved to be a difficult month for hedge funds, according to data released by Newedge, with eight of the firm’s suite of 11 hedge fund indices reporting negative returns for the month.
The Newedge Short-Term Traders Index (0.62 per cent), the Newedge Commodity Trading Index (Equity) (0.14 per cent) and the Newedge CTA Index (0.09 per cent) were the only three indices to finish February in positive territory.
The Newedge Trend Indicator (-2.37 per cent), the Newedge Commodity Trading Index (Trading) (-1.40 per cent) and the Newedhge Commodity Trading Index (-1/20 per cent) were the worst performers.
Altin, the Swiss alternative investment company listed on the London and Swiss stock exchanges, has appointed Tony Morrongiello as position of chief executive.
Morrongiello takes up his duties today and will be in charge of managing Altin’s day-to-day operations and maximising its shareholder value.
Morrongiello has more than 15 years’ experience of managing funds of hedge funds in Switzerland, Europe and Asia. He has managed or advised a number of alternative investment companies and has founded Caliburn Capital Partners, a company which managed funds of theme funds in London, Geneva and Singapore. He also sits on various committees
FTSE Group and DPT Capital Management have launched the FTSE Target Exposure Commodity Index Series, a series of rules-based long-short commodity indices derived from Professor John M Mulvey’s risk management and portfolio allocation approach – Dynamic Portfolio Tactics.
The FTSE Target Exposure Commodity Index Series allocates dynamically across a broad basket of 18 commodity futures using a suite of rules-based quantitative investment tactics, designed to capture systemic sources of return embedded in global commodity markets, whilst avoiding over-concentration in certain commodity sectors.
The indices have been designed to act as performance benchmarks for quantitative commodity managers, and as
The Hedge Fund Marketing Alliance has published the Hedge Fund Cheat Sheet providing a comprehensive primer on the basics of hedge funds as well as tips for the more sophisticated investor.
The Hedge Fund Cheat Sheet includes a beginner’s guide to commonly used hedge fund terms, explains the benefits and costs associated with investing in them, discusses the differences between hedge funds and mutual funds, reviews the legalities and structure of hedge funds, and defines 12 common hedge fund investment strategies.
For more sophisticated investors, the Hedge Fund Cheat Sheet offers reasons why investing in a hedge fund
BNY Mellon, a provider of investment management and investment services, has developed a reporting solution that enables its affected alternative investment clients to prepare and file Form PF, as required by recent rules introduced by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).
A joint effort of the SEC and CFTC, Form PF reporting complies with Section 404 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, aimed at protecting investors and the US financial system from future systemic risk.
BNY Mellon’s new service offers its fund administration clients who are SEC Registered
Equity-focused hedge fund strategies exhibited returns that were broadly consistent with market dynamics in February, according figures released by Edhec-Risk.
Edhec’s long/short equity strategy (0.41 per cent) showed some negative alpha, the equity market neutral strategy (0.34 per cent) mildly positive alpha, whereas the event driven strategy (0.49 per cent) performed in line with its modelled dynamic exposure.
The convertible arbitrage strategy (0.21 per cent) managed to post its ninth consecutive gain despite almost flat equity exposure and associated fixed-income risk drivers weakening.
The CTA global strategy, structurally unable to extract any alpha from the markets in
Walek & Associates, an independent financial and corporate public relations boutique, has had three client wins in its New York and Boulder offices and has won a prestigious hedge fund award from Hedgeweek.
Walek & Associates was named “Best North American Public Relations Firm” by Hedgeweek, marking the fourth consecutive time that the firm has been so honoured. The Hedgeweek Global Awards are the only peer-nominated awards in the industry and were presented on 1 March 2013 at an awards luncheon in London.
Walek & Associates client wins include First Eagle Investment Management (media relations), Investment Management Consultants
The Securities and Exchange Commission (SEC) has obtained an asset freeze against a Massachusetts-based investment adviser charged with stealing money from clients who were given the false impression they were investing in a hedge fund.
In a complaint unsealed today in federal court in Boston, the SEC alleges that Gregg D Caplitz and Insight Onsite Strategic Management in Wilmington, Massachusetts, raised at least USD1.1m from clients that was used for purposes other than investing in the hedge fund they purported to manage. Investor money was merely transferred to the firm’s chief investment officer and other members of her family
BNY Mellon has expanded its global derivatives clearing leadership team with five new appointments in the US and Europe.
Mark B Gonzalez has been appointed as the US chief operating officer for derivatives clearing services, based in New York.
Gregory Chemin has been appointed as the business head of derivatives clearing services, based in Frankfurt, Germany.
Paul Dex (London), John Guthrie (New York) and Thomas Twomey (New York) will lead the company’s regional efforts to identify and develop new opportunities in the listed and over-the-counter (OTC) derivatives markets.
Sanjay Kannambadi, global head of derivatives clearing services,
Lyxor Asset Management is strengthening its sales and marketing team with the appointment of Véronique Parizet as head of sales for French and German-speaking Europe and the enhancement of its sales organisation on this zone.
Based in Paris, Parizet reports to Christophe Baurand, global head of sales and marketing.
In her position, Parizet is responsible for developing business with all of Lyxor’s clients based in French and German-speaking Europe (France, Belgium, Luxembourg, Monaco, Germany, Austria and Switzerland). Her extensive experience of institutional clients will allow Parize and her team to further strengthen Lyxor’s position in these countries across
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