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The advantage to independent administrators like SS&C GlobeOp is they are as nimble as the hedge funds they serve, according to Bill Stone, chairman and chief executive of SS&C Technologies.
“When you treat people right you get treated right, and I think that’s how this acquisition has gone,” says Stone (pictured).
Back in June this year the firm acquired hedge fund administrator GlobeOp for approximately USD924m.
The combined entity now services more than 6,700 funds with a combined USD424bn in assets under administration. From the outset it was Stone’s intention to make sure the acquisition of GlobeOp was as seamless
Total exchange-wide trading activity and trading volume in futures on the CBOE Volatility Index (VIX) reached new all-time highs during 2012.
Total exchange-wide trading activity and trading volume in futures on the CBOE Volatility Index (VIX) reached new all-time highs during 2012.
In a record-setting year, a host of new milestones were achieved at the exchange.
Total CFE trading volume in 2012 set a new record with 23.89 million contracts traded, an increase of 98 per cent from 12.04 million contracts traded in 2011, the previous annual record. The year 2012 marked the third consecutive year of record exchange-wide trading
Russ Koesterich (pictured), BlackRock’s Chief Investment Strategist, provides an overview of the US Fiscal Cliff deal and discusses what it means for the economy and financial markets…
The 11th-hour deal is better than nothing … but its limited scope and the need for additional negotiations will likely translate into increased volatility for financial markets. Expect more late-night drama from Washington in the coming months.
Higher payroll taxes will likely depress US consumer spending in the short term. This could result in a drag on the US economy early in the year. We expect a rebound later this year, but
The Eurekahedge Hedge Fund Index was up one per cent in December, bringing the yearly number to 5.63 per cent.
The MSCI World Index returned 2.28 per cent in December and was up 13.75 per cent for year 2012.
Hedge funds started the year on a strong positive note, gaining 4.16 per cent in the first two months before posting losses for four consecutive months. Performance rebounded in the second half of the year, with hedge funds gaining 3.92 per cent, as global markets rallied amid positive announcements by governments around the world.
Total hedge fund assets grew by USD75bn
The international derivatives markets of Eurex Group ended 2012 with a turnover of approximately 2.3 billion contracts, compared with 2.8 billion in 2011.
The total volume for 2012 splits into 1.7 billion contracts traded at Eurex Exchange (2011: 2.0 billion) and 631.8 million contracts traded at the International Securities Exchange (ISE) (2011: 778.1 million).
This corresponds to a daily average trading volume of 9.0 million contracts (2011: 11.1 million), thereof 6.5 million contracts at Eurex Exchange and 2.5 million contracts at ISE.
At Eurex Exchange, the equity index derivatives segment was the largest in 2012 with a total yearly volume
ALPS, a DST Company, has launched the ALPS Alerian MLP Infrastructure Index Fund, which delivers exposure to the Alerian MLP Infrastructure Index.
The index is a capped, float-adjusted, capitalisation-weighted composite of 25 energy infrastructure master limited partnerships that earn the majority of their cash flow from the transportation, storage, and processing of energy commodities.
The fund employs a “passive management” – or indexing – investment approach designed to track the performance of the index. The index is calculated using a capped, float-adjusted, capitalisation-weighted methodology intended to give investors a means of tracking the overall performance of the US energy infrastructure
CBOE Volatility Index (VIX index) futures set a new single-day volume record of 212,800 contracts (estimated) on 31 December 2012.
The new daily record eclipsed the previous single-day record of 190,081 contracts traded on 13 September 2012.
This is the first time in CFE history that trading volume has surpassed 200,000 contracts in a single day.
VIX futures are poised for another record year in 2012, with trading volume up 86 per cent through November.
The top four trading months for VIX futures occurred in the last four months of 2012.
The Hedgeweek Awards 2013 for the best hedge fund
The Securities and Exchange Commission has charged a Santa Monica-based hedge fund manager and his investment advisory firm with conducting a "cherry-picking" scheme by steering winning trades to their own trading accounts and favoured clients to the detriment of certain hedge fund investors.
They are also charged with failing to disclose the firm’s precarious financial condition to clients in a timely manner.
The Commission alleges that Peter J Eichler, Jr, and his firm Aletheia Research and Management disproportionately allocated losing trades to the accounts of two hedge funds managed by the firm, resulting in monetary losses for those funds’ investors.
Gabelli & Partners, the alternative investment partnership group of GAMCO Investors, are to launch the Gabelli Intermediate Credit Fund, a high-yield fund created for non-US and non-taxable US investors in the corporate bond strategy managed by portfolio manager and Director of Fixed Income, Wayne Plewniak.
“Wayne has successfully managed the Gabelli Intermediate Credit Fund LP since its inception in 2007. We are responding to the request of a number of our non-U.S. and non-taxable US clients to provide access to this strategy while affording the benefits of an offshore vehicle for the Fund,” says Michael Gabelli. “The onshore version of
Indus Valley Partners (IVP), a provider of technology solutions to alternative asset managers, has published a summary of the fourth annual IVP Hedge Fund Forum, which was held in New York City on 29 November and provided senior hedge fund professionals an informal forum to discuss the most pressing issues facing the industry.
Moderated by Gurvinder Singh, CEO of Indus Valley Partners, this year’s topic of discussion was focused on how hedge funds are “doing more with less” in a challenging macro-economic environment.
Collectively representing an AUM of over USD170 billion, the three-person panel of industry leaders consisting of a
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