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Managed futures lost 0.33 per cent in August, according to the Barclay CTA Index compiled by BarclayHedge.
The index remains up 1.34 per cent year to date.
“Continuation of the three-month uptrends in equity and commodity markets generated profits for many traders, but not enough to overcome the losses caused by trend reversals in currency and bond markets,” says Sol Waksman, founder and president of BarclayHedge.
Six of Barclay’s eight CTA indices had losses in August. The Barclay Systematic Traders Index was down 0.70 per cent, currency traders gave up 0.51 per cent, diversified traders lost 0.49 per cent, and
The Swiss Funds Association says the solution reached by the Swiss parliament over the partial revision of the Federal Act on Collective Investment Schemes (CISA) is a balanced compromise between investor protection, market access and competitiveness.
Acting as second chamber, the National Council dealt with the partial revision of the CISA on 12 September 2012.
The National Council’s Committee on Economic Affairs and Taxation (WAK) had proposed various amendments to the drafts put forward by the Federal Council and the Council of States, and these were largely approved. The National Council passed the Act by 113 votes to 62. The
The Varus Fund has achieved performance of 39 per cent, which represents a CAGR of 11.6 per cent, since inception on 1 September 2009, with 6.6 per cent volatility and a correlation of 0.2 to DAX 30 and Eurostoxx 50.
This return has been achieved with an average net exposure of 16 per cent and gross exposure of 85 per cent.
The Varus Fund has grown from USD2m to USD100m during one of the most challenging economic times since the Great Depression in the 1920s.
Pyxis Capital, a registered investment adviser serving financial advisers, institutions and individual investors, has appointed Stephen Dedyo as managing director, head of national accounts for the Pyxis distribution team.
He will report to Brad Ross, president of Pyxis Capital.
Dedyo (pictured), 35, joins Pyxis from Janus Capital Group, where he was director, advisor relationship management, covering many major national broker-dealers.
Prior to Janus, he spent nearly a decade at AllianceBernstein in a variety of roles of increasing importance and responsibility, including time as a financial adviser associate, regional wholesaler, and a director for global business development.
"We are thrilled to
Hedge funds gained 1.09 per cent in August, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
The index is up 4.20 per cent year to date.
“Equity prices moved mostly higher in August in spite of economic data calling for a continued slowdown in growth,” says Sol Waksman, founder and president of BarclayHedge. “Investors appeared to be betting on further stimulus from central banks, and recent actions from the Fed and the ECB have proven them right.”
In August, 16 of Barclay’s 18 hedge fund indices had gains. The Barclay Equity Long Bias Index led the way with
The Dow Jones Credit Suisse Hedge Fund Index finished up 0.84 per cent for the month of August.
Long/short equity (1.51 per cent) and multi-strategy (1.36 per cent) were the top performers among the ten sub strategies, while dedicated short bias was the biggest loser during the month with performance of -4.25 per cent.
There were no funds added or dropped from the Dow Jones Credit Suisse Hedge Fund Index in August.
Palmer Square Capital Management, along with Montage Investments and Atlantic Asset Management, has agreed a partnership with Geneva Arbitrage Fund.
Geneva invests in equity opportunities of companies that are engaged primarily in corporate transactions such as mergers and acquisitions while simultaneously seeking to reduce portfolio risk through hedging.
In addition to securing investment capital, the relationship provides Geneva with access to the distribution channels of Montage and Atlantic.
"We are thrilled to offer our investors access to the experience and innovation of Geneva," says Christopher D. Long (pictured), president of Palmer Square. "Geneva strictly adheres to an investment process that
Saemor Capital’s Europe Alpha Fund finished August on a positive tone registering a gain of 0.4 per cent.
Consumer discretionary and automobiles were the biggest contributors to the fund’s returns, while Saemor’s net short position in banks hurt the performance.
A long position in AXA was the biggest stock contributor while a short in Credit Agricole was detrimental to performance.
The risk rally started in the beginning of August, but partly reversed in the latter part of the month. Saemor’s quantitative model posted modest gains in this environment. Valuation strategies were profitable with earnings and book yield among the best
Dalton Strategic Partnership (DSP) has strengthened its multi asset team with the appointment of Luca Vaiani as a portfolio manager.
He will form part of a six strong team involved in managing the firm’s Melchior Global Multi-Asset Fund and will work alongside Rupert Caldecott, chief investment officer.
Vaiani was previously at Fondaco SGR where he was portfolio manager of the Fondaco Global Opportunities Fund, a multi asset absolute return fund. From the beginning of 2008 until his departure in August 2012 he delivered a cumulative return of 20.3 per cent with an annualised volatility of 7.3 per cent and
Alix Capital, the Geneva-based provider of the Ucits Alternatives Index family of indices, has launched six new single strategy UAIX indices, expanding its range to 11.
The UAIX indices are constructed following a proprietary systematic model developed by Alix Capital with the aim of outperforming the respective Ucits Alternative Index benchmark.
The new indices are as follows:
UAIX Emerging Markets
UAIX Event Driven
UAIX Equity Market Neutral
UAIX FX
UAIX Macro
UAIX Multi-Strategy
The UAIX indices comprise six to 15 Ucits hedge funds selected from the Ucits alternatives hedge fund universe using Alix Capital’s proprietary model, and are rebalanced quarterly.
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