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The Hedge Fund Association’s recently formed China Chapter is putting down roots in Shanghai, the world’s largest city by population and the most important commercial and financial centre in China.
Headed by Yiming Di, principal at China-focused consulting firm Schmittzehe and Partners, the goal of the Shanghai Chapter is to work with the city’s alternative investments firms in support of the HFA China Chapter’s goals of advocating for and educating the public about the Chinese hedge fund industry.
“China’s hedge fund industry is developing quickly and the HFA is honored to be a bridge between China and the US
Maples and Calder has appointed four new associates to the firm’s growing funds team in its Cayman Islands office and a new partner to the British Virgin Islands office.
Tim Clipstone, Greg Barwick, Philip Dickinson, Patrick Head and Lucy Nicklas are each specialists in their respective fields.
"It is with great pleasure that we add these new lawyers to our firm, as we anticipate that their collective expertise will serve to add more strength in depth to our client offering," says Jon Fowler (pictured), global head of the funds group at Maples and Calder. "Maples and Calder is renowned
HFR has expanded its family of HFRX Indices to 76 with the launch of three new indices.
HFRX Emerging Markets Composite Index includes multiple hedge fund strategies with geographic exposure to one or more emerging markets regions and combination of asset classes with emphasis on global macroeconomic, political or specific secular market growth trends.
HFRX Fixed Income – Credit Index includes strategies with exposure to credit across a broad continuum of credit sub-strategies. The investment thesis across all strategies is predicated on realization of a valuation discrepancy between the related credit instruments.
HFRX MLP Index includes master limited partnership strategies
Last month saw the UCITS Alternative Index Global return 0.84 per cent according to its Geneva-based provider, Alix Capital. That leaves it up 0.50 per cent for the year.
Qbasis Fund Management (QFM) has listed its Qbasis Futures Fund as a TransparentFund on AlphaMetrix.
As a TransparentFund, Qbasis Futures Fund is now visible to the AlphaMetrix network.
Qbasis Futures Fund will retain its existing structure and service providers while offering investors in-depth risk monitoring, reporting, customised transparency and a thorough background investigation via AlphaMetrix.
“The listing of the Qbasis Futures Fund on AlphaMetrix is another step we took to provide more transparency and customer service, including an additional third-party source of risk management and due diligence, to our client base,” says Philipp Poelzl (pictured), co-founder of Qbasis Fund Management.
Alternative asset manager The Carlyle Group and the management of The TCW Group, an asset management firm, are to acquire TCW from Société Générale.
As a result of the transaction, TCW management and employees will increase their ownership in the firm to approximately 40 per cent on a fully diluted basis.
Financial terms of the transaction, which is expected to close in the first quarter of 2013, were not disclosed.
Equity for the investment will come from two Carlyle investment funds, as well as from TCW management. The funds are Carlyle Global Financial Services Partners, a USD1.1bn
Hedge funds investing in Japan/developed Asian markets quickly shifted to defensive positioning in Q2 2012, protecting investor capital as Japanese equities plunged over 10 per cent in the period, according to the latest HFR Asian Hedge Fund Industry Report.
The HFRX Japan Index posted a narrow decline of 1.5 per cent in 2Q, a sharp reversal from 1Q gains of 5.2 per cent.
Hedge funds investing in China experienced declines similar to that of Japan in 2Q, with the HFRX China Index falling 1.6 per cent, while the HFRX Asia with Japan Index declined 2.4 per cent.
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The international derivatives market Eurex Exchange has set several new records in its Euro-OAT Futures.
In August 2012, open interest exceeded for the first time the 100,000 threshold with 104,869 contracts.
Trading volume in July also set a new record, both in average daily volume with about 19,600 contracts and in total with 431,000 contracts. Total volume since launch is close to 1.5 million contracts. The OAT futures were launched on 16 April and are based on the notional long-term bonds issued by the French Republic (Obligations Assimilables du Trésor – OAT).
Since launch, more than 150 Eurex customers have
NYSE Euronext European derivatives products average daily volume (ADV) in July 2012 totalled 3.5 million contracts, a decrease of 6.8 per cent compared to July 2011 and a decrease of 24.7 per cent from June 2012 levels.
The 3.5 million in European derivatives futures and options contracts ADV in July 2012 consisted of 2.7 million contracts executed through NYSE Euronext’s full-service Liffe Connect trading platform and 0.8 million contracts, or 23.8 per cent, executed through Bclear, NYSE Liffe’s trade administration and clearing service for OTC products.
Excluding Bclear, NYSE Liffe’s trade administration and clearing service for OTC products, European derivatives
South Africa Alpha Capital Management has seen several of its funds produce strong returns in July, with the company’s top performing fund, the Peregrine L/S Equity fund, up 2.31 per cent.
This compares favourably to emerging and local indices: the MSCI EM Index was up 1.6 per cent and the FTSE/JSE All Share Index (USD) was up 1.2 per cent for July.
The Larium L/S Equity fund produced 2.21 per cent in July, while the 36ONE OL/S Equity fund was up 1.58 per cent and the Brait Multi-Strategy fund was up 0.37 per cent.
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