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Ruth Lea (pictured), Economic Adviser to the Arbuthnot Banking Group, discusses the downgrade to Britain’s debt rating, the latest public finances data and the Bank’s February Inflation Report.…
Moody’s downgraded Britain’s sovereign debt rating from Aaa to Aa1, which was expected. Britain’s public finances are, if anything, deteriorating. But in a world where Germany and Canada are the only major economies to retain their “triple A” status, Moody’s assessment that the UK remains highly credit-worthy is surely as satisfactory an assessment as can be expected under current circumstances.
The January PSNB data were better than expected and, even after
Torstone Technology, a provider of securities and derivatives processing software to the global financial markets, is expanding its financial technology business in the Asian markets.
With the hiring of a local sales manager and additions to the software development and support team the Hong Kong head count is doubling.
The expansion is part of the company’s strategy to accelerate its access to the high growth, high value markets within Asia and the emerging markets, in particular.
Brian Collings, chief executive of Torstone Technology says: “The workload in our Hong Kong office has been steadily increasing throughout 2012 and our clients
Online multi-asset investment specialist Saxo Bank is re-launching its MetaTrader 4 (MT4) platform with a new name, SaxoMT4.
SaxoMT4 actively targets the large segment of clients accustomed to the specific trading environment of MetaTrader, as well as the increasingly popular algorithmic trading segment.
Alongside a retail offering, Saxo Bank will provide a full institutional service through its French subsidiary Saxo Banque, reducing the need for an expensive and dedicated IT team. SaxoMT4 allows hedge funds to concentrate on their core trading strategies. Saxo Banque France will also cater for asset managers and other introducing broker relationships.
Launched through
Hedge fund investors expect continued growth in 2013, and are predicting alternative investment industry AUM to reach an all time high of USD2.5trn by year end with net inflows of USD123bn, according to the 11th Deutsche Bank Alternative Investor Survey.
The survey of over 300 investor entities around the world, who manage more than USD1.2trn in assets found that hedge funds are no longer a stand-alone asset class. Institutional investors have moved from a traditional asset class allocation to a risk-based approach. A quarter of institutional investors have adopted this approach and half of consultants recommend it to clients.
Investors
The Carlyle Group has reported USD0.49 per common unit in distributable earnings in Q4 2012 and USD1.39 per common unit in distributable earnings since The Carlyle Group IPO in May 2012.
A quarterly distribution of USD0.85 per common unit has been declared, along with aggregate distributions of USD1.12 per common unit for 2012, which represents 80 per cent of post-IPO, after-tax distributable earnings.
Carry fund realisations totalled USD18.7bn in 2012 and with more than USD36bn in carry fund realisations achieved over the past two years.
A total of USD14.0bn in new capital was raised in 2012, including USD4.6bn in Q4
Alternative investment firm Bernheim, Dreyfus & Co has partnered with the French Foundation for Disabled (APSH 34), a charitable association which helps the psychiatrically disabled through their rehabilitation and the process of reintegration into society.
For over 30 years APSH 34, together with the Fondation de France and the Montpellier Public Hospital, has also worked to reintegrate the disabled into formal employment (and also to meet their housing needs.
“When we first met this foundation, our shared interest in philanthropy and desire to leverage our efforts to have maximum impact formed the basis for our partnership. That shared goal continues
Emerging markets hedge funds posted strong gains to conclude 2012, which continued through early 2013, as stimulus measures in developed markets contributed to EM currency and equity market gains.
The HFRX Multi-Emerging Markets Index gained 13.1 per cent for 2012, including a gain of 4.8 per cent in 4Q, with contributions across each of the BRIC (Brazil, Russia, India, and China) economies.
Hedge fund capital invested in emerging markets increased by USD11.2bn during the fourth quarter of 2012 to a record of USD139bn, according to the latest HFR Emerging Markets Hedge Fund Industry Report published by HFR. Net capital inflows
The SS&C GlobeOp Forward Redemption Indicator for February 2013 measured 3.96 per cent, up from 2.04 per cent in January.
"Year-to-date February redemption notices fall well below average over the index history," says Bill Stone, chairman and chief executive officer, SS&C Technologies.
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients on the GlobeOp platform. Forward redemptions as a percentage of SS&C GlobeOp’s assets under administration
Crispen Odey is planning to launch a multi-asset fund – Odey Swan fund – next month, investing in equities, bonds and currencies, reported FTAdviser this week. The UCITS fund will replicate Odey Asset Management’s flagship European hedge fund and is currently awaiting approval in Ireland.
It’s the first time that retail investors will have the opportunity to invest in Odey’s long/short strategy. The fund will largely focus on developed market equities and will aim to achieve “strong absolute and relative returns” over the long term. The firm currently manages a number of UCITS funds including: the Odey Opus fund, which
Woori Absolute Partners (WAP), the Singapore-based alternative investment platform of Woori Investment & Securities (WIS), and NewAlpha Asset Management, the Paris-based hedge fund incubation specialist, have announced the first strategic investment of the Woori NewAlpha Fund with Mosaic Asset Management, a new Singapore-based registered fund management company focused on Asian equity strategies.
Mosaic was founded by Tristan Edwards, chief investment officer, and Greg Laughlin, chief operating officer, both of whom are from Australia and have known each other for over 25 years.
Edwards spent three years at Brevan Howard in London where he last served as head of execution
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