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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
The European Energy Exchange (EEX), in its capacity of the transitional auction platform for the Federal Republic of Germany, has cancelled Friday’s auction of EU Allowances (EUA) for the third trading period, because it would have cleared below the reserve price.
The auction volume will now be evenly distributed over the next four scheduled auctions.
The auction calendar will be adjusted and an updated version will be published soon.
The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action charging the New York Mercantile Exchange (CME NYMEX) and two former employees, William Byrnes and Christopher Curtin, with violating the Commodity Exchange Act and CFTC regulations.
The CFTC complaint alleges that CME NYMEX, Byrnes and Curtin made repeated disclosures of material non-public customer information over of period of two and one-half years to an outside commodity broker who was not authorised to receive the information.
The CFTC’s Complaint, filed on 21 February 2013 in the US District Court for the Southern District of New York, alleges that
Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, finished January up 2.07 per cent, with nine out of 10 strategies in positive territory.
In total, the industry saw estimated outflows of approximately USD9.3bn in January, bringing overall assets under management for the industry to approximately USD1.78trn.
The multi-strategy and equity market neutral sectors experienced the largest asset inflows on a percentage basis, with inflows in January equal to 0.78 per cent and 0.19 per cent of the December 2012 levels, respectively.
Event driven funds sustained positive performance in January from a combination of situation specific
Asset management company Affiliated Managers Group has expanded its European distribution capabilities by opening an office in Zurich, Switzerland.
The company has also made two new appointments to its distribution team in Europe.
Patrick Sege joins as director, head of distribution, Switzerland, Austria and Liechtenstein, and will be based in AMG’s new office in Zurich. Sege joins AMG from Liongate Capital Management, where he was head of sales and business development for Switzerland and Continental Europe. In this role, he was responsible for covering all institutional client segments including banks, pension funds, insurance companies, family offices and independent asset managers.
The international derivatives marketplace Eurex Exchange will start listing new derivatives on global MSCI indices on 11 March.
From this date, futures and options based on the MSCI World, MSCI Europe, MSCI All Countries Asia Pacific ex-Japan and futures on the MSCI Frontier Markets will be available.
Other derivatives on regional and country-specific MSCI emerging markets indices will be launched in July this year. A total of around 30 new index derivatives will be launched in two phases. The two planned product launches will grow the existing offering of equity index derivatives, which currently covers 70 different indices, to around
Asian shares fell and the Australian dollar eased on Thursday as sentiment was shaken by talk across global markets that a hedge fund had been liquidating large positions in commodities, as well as worries the Federal Reserve could slow its bond buying programme.
Crude oil posted its biggest daily fall year to date, on Wednesday, while gold fell nearly 3 per cent to a seven-month low in its biggest single-day drop in almost a year. The CBOE Volatility Index, which gauges investor risk appetite on Wall Street, rose 19 per cent in the biggest jump this year.
"We all heard
BlueBay Asset Management, a specialist manager of fixed income and alternative investments, has appointed Staffan Kampe as director of sales Nordics.
Kampe joins BlueBay from Lyxor Asset Management where he was head of institutional sales Nordic region.
Prior to this he spent 11 years at SEB covering a range of roles including product development and institutional sales at SEB Wealth Management.
Mattias Hojmark-Jensen, partner, head of sales – EMEA, says: “The Nordic region is important to BlueBay and I am delighted that Staffan has joined as a dedicated resource for this investor base. We look forward to expanding our
Joanna Shatney (pictured), Head of US Large Cap Equities, gives her views on the upcoming sequestration in the US…
We are now just a few weeks away from sequester taking place in the US. Sequestration refers to the mandatory cuts in spending that go into effect March 1st in the US, directly impacting defense and Medicare spending (part of the Budget Control Act of August 2011). While some of these cuts are already partially reflected in analyst estimates, there are likely to be some downward revisions to GDP by Wall Street economists. We are watchful of these cuts, but remain optimistic that:
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