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Managed futures lost 1.08 per cent in November, according to the Barclay CTA Index compiled by BarclayHedge.
The index remains up 3.77 per cent for the year.
“As concern mounted regarding the possibility of inflation in China, war in Korea, and the dissolution of the Euro, investors decreased their risk exposures,” says Sol Waksman, founder and president of BarclayHedge.
Seven of Barclay’s eight CTA indices lost ground in November. The Barclay Agricultural Traders Index was down 1.87 per cent, financial and metals traders lost 1.56 per cent, diversified traders were down 1.53 per cent, and systematic traders slid 1.13 per
- 15/12/2010
The US Commodity Futures Trading Commission has filed a complaint alleging registration violations against Vincent Patrick McCrudden of New York, Alnbri Management, and Managed Accounts Asset Management.
McCrudden was the owner and sole officer of New York-based Alnbri and MAAN. MAAM was dissolved in April 2009.
The CFTC complaint, filed in the US District Court for the Eastern District of New York, charges McCrudden with failure to register with the CFTC as an associated person of a commodity pool operator, acting as a commodity pool operator without being registered and failing to give notice of an inaccurate claimed exemption from
- 15/12/2010
East Coast Fund Management has launched the East Coast Investment Grade Fund with Arrow Hedge Partners.
Similar to The East Coast Performance Fund, it will invest primarily in investment grade credit instruments of Canadian companies.
The fund’s investment objectives are to provide consistent absolute target returns between eight and 12 per cent while using hedging strategies to minimise systemic risk to capital at all times.
The fund enables investors to extract returns from credit exposure through fixed income assets, while avoiding the volatility of equity markets.
The fund is available on FundServ. It invests in investment grade credit securities and
- 15/12/2010
BlueNext has launched trading of its first spot emissions reduction units contracts using Trayport’s GlobalVision Exchange Trading System.
The launch of spot ERU trading comes on the back of two ERU auctions BlueNext held in January and September this year.
BlueNext trades three types of environmental contracts: EUAs, CERs and now ERUs. It has used Trayport’s GlobalVision Exchange Trading System since 2008.
BlueNext held the first-ever auction of 400,000 tons worth of ERUs in January. ERUs are created when companies invest in greenhouse gas reduction targets under the Kyoto Protocol.
“The exchange decided to implement secondary auctions and make spot
- 15/12/2010
Deutsche Bank and Paulson have launched a Ucits compliant version of Paulson’s flagship Advantage fund.
The Ucits fund, called the DB Platinum IV Paulson Global Fund, has been launched on Deutsche Bank’s Platinum platform.
The fund is linked to the performance of a synthetic managed basket, the components of which are selected by Paulson in accordance with an adapted version of its Advantage strategy, modified to comply with Ucits regulations.
The basket follows the core strategy of event arbitrage including event situations such as mergers, distressed and special situations on the long and/or short sides and through both debt and
- 15/12/2010
- 15/12/2010
The latest Preqin survey shows that the number of hedge fund investors expressing an interest in seed investments has almost doubled, from 11 per cent in 2009 to 21 per cent in 2010.
Investors feel that the benefits of investing in these funds, such as fund ownership, fee negotiations and early access to the next generation of hedge funds, far outweigh the disadvantages in the current climate.
Seed investments are also evolving post-crisis, as investors award seed capital to more established vehicles that may have encountered fundraising difficulties or lost assets through the crisis.
Investors are setting higher barriers to
- 15/12/2010
Institutional investors overwhelmingly believe the euro area will be able to avoid a “full-fledged crisis,” according to Barclays Capital’s inaugural Global Macro Survey.
More than 2,000 institutional investors from around the world, including hedge funds, money managers, proprietary trading and corporate trading desks responded to the survey.
Only four per cent of clients surveyed believe that a euro area crisis and break-up of the euro currency is a likely outcome, and more than 50 per cent of respondents said that the impact of the sovereign debt crisis on the euro over the next quarter will be modest.
Despite this, concerns
- 15/12/2010
Union Bancaire Privée has appointed Philippe Broadhead as head of sales – UK in its asset management division.
Broadhead brings with him vast experience of the UK investment market, having spent over 20 years working with a wide variety of clients.
Prior to joining UBP he held a number of high-profile positions over the course of eight years at Legal & General Investment Management, including head of UK institutional distribution, head of hedge fund distribution and head of multi-manager investments.
Before working for Legal & General he held business development roles at Friends Ivory & Sime and Friends Provident.
- 14/12/2010
Collateral secured certificates from Switzerland are now tradable on Scoach, the Frankfurt exchange for structured products.
The collateral deposited for these collateral secured instruments (COSI) minimises counterparty risk for structured products.
COSI enables investors to protect themselves against the possibility of issuer insolvency.
The issuer EFG Financial Products is offering COSI for the first time in Germany, exclusively on the Scoach trading platform. A total of 17 COSIs are currently tradable on Scoach in Frankfurt; the volume invested thus far amounts to EUR61.5m.
For COSI, the issuer deposits collateral in the form of securities or cash at Swiss custodian SIX
- 14/12/2010
Financial Risk Management, a hedge fund investment firm with offices in Europe, Asia, North America and Australia, has hired George Yepes as managing director, head of North American business development.
Yepes will work with FRM’s New York and global investment and client teams in managing and developing relationships with consultants, institutional clients, financial institutions and high net worth investors in the US and Canada.
Previously, Yepes was managing director and head of US Distribution and client relationship management at Man Investments, and until 2009 he was head of North American sales for Gottex Fund Management.
Clive Peggram, deputy group
- 14/12/2010
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