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Hedge funds posted a narrow gain last month to conclude the first half of the year up 1.7 per cent.
The HFRI Fund Weighted Composite Index posted a gain of 0.05 per cent for June, according to data released by HFR.
Hedge funds overcame conservative positioning in the final days of the month, as June ended on a note of optimism with regard to the European sovereign debt crisis. Macro losses partially offset gains in equity hedge, event driven and relative value strategies. June marks the conclusion of a positive, but muted, first half of the year for the hedge
The US Commodity Futures Trading Commission has obtained an order of permanent injunction against defendants Robert Mihailovich, Sr. of Rockwall, Texas, and Growth Capital Management requiring them to pay over USD9.3m for fraudulently soliciting over USD30m from customers to trade commodity futures contracts and foreign currency.
The order also imposes permanent trading and registration bans against the defendants.
The court’s order, entered on 26 June 2012, arises out of a CFTC complaint filed on 27 July 2010, against Mihailovich, Sr., GCM, and Robert Mihailovich, Jr., Mihailovich, Sr.’s son.
As alleged in the complaint, Mihailovich, Sr. was convicted and incarcerated
Equinix, a provider of global data centre services, will offer its customers connectivity to BATS Global Markets’ secondary data centre facility in Chicago.
BATS will accept connections to all three of its US secondary market centres ― its two equities exchanges, the BZX Exchange and BYX Exchange, and its equity options platform, BATS Options ― inside the Equinix Chicago data centre, located at 350 E. Cermak, the location of BATS’ new secondary data facility.
The primary matching engines and associated trading infrastructure for these markets are hosted in BATS’ primary data centre in Weehawken, New Jersey.
In addition to providing
Assets managed by the top 100 alternative investment managers globally now exceed USD3trn, according to research produced by professional services company Towers Watson in conjunction with the Financial Times.
The Global Alternatives Survey, which for the first time includes individual private equity and hedge funds, shows that of the top 100 alternative investment managers, real estate managers have the largest share of assets (35 per cent, at USD1.1trn) followed by private equity managers (22 per cent, at USD696bn), hedge funds (21 per cent, at USD643bn), private equity fund of funds (nine per cent, at USD288bn), fund of hedge funds (six
The decision made by the rating agency Moody’s to downgrade the credit ratings of a string of global banks was greeted inevitably when markets opened on the following day by a sell-off helped by weaker US data and Wall Street down 2%. The strange thing about the rating downgrade is that it came too late, says James M M Edwards (pictured), chief investment officer, Eurofin Capital…
Most banks stock prices are down over 70% from their highs, and multiple “zombie banks” were created in Europe, that only survive through the funding from the ECB. They have been put in what
The Alternative Investment Management Association has published a German-language educational paper about the social and economic value provided by the hedge fund industry.
The paper stresses the financial stability benefits that hedge funds provide to financial markets and highlights the fact that hedge funds increasingly are performing an important social role by managing investments for pension funds, university endowments, charitable foundations and other socially-important institutional investors.
It includes AIMA’s estimate that there are 50,000 people employed directly or indirectly by the hedge fund industry in Europe – the first such statistic of its kind produced – and 300,000 worldwide.
The IQ Hedge Global Macro Beta Index rose by 0.87 per cent in June 2012, according to the latest data from IndexIQ.
The Long/Short Beta Index rose by 3.03 per cent, the Event-Driven Beta Index by 1.88 per cent and the Market Neutral Beta Index by 1.06 per cent.
IQ Hedge Emerging Markets Beta Index was up 1.97 per cent in June, while the Fixed Income Arbitrage Beta Index increased by 0.58 per cent and the Composite Beta Index by 1.56 per cent.
Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge fund strategies, the IQ Hedge
Linedata has launched the latest version of the Linedata Beauchamp portfolio management system.
The new version focuses on improving efficiency and automation for clients’ middle office operations.
Features of the new version include enhancements to workflow for corporate actions, stock loans, CDS and swap financing.
“With tighter margins and increasing costs, we know that our hedge fund clients are always seeking out efficiencies and want to focus their resources where they matter most. The latest enhancements to Linedata Beauchamp deliver a more streamlined middle office infrastructure, with a focus on developments which save on time and resources,” says Ed
Deutsche Bank’s Global Transaction Banking (GTB) division has made several appointments in its Trust & Securities Services and Cash Management for Financial Institutions (TSS/CMFI) business.
Satvinder Singh (pictured), global head of TSS/CMFI at Deutsche Bank, says: "The improvements to our business model will strengthen our ability to help clients navigate and succeed in today’s challenging environment. I’m very pleased several new management roles have been appointed from within the GTB organisation which demonstrates the depth of talent at Deutsche Bank."
Deutsche Bank has appointed four TSS/CMFI region heads who will be responsible for strengthening local relationships, aligning the bank’s global
ENYX has added key US markets decoders for its FPGA based trading platform.
CME and Nasdaq Itch, Bats, Direct Edge and NYSE Arca markets are now all available for the platform.
ENYX has built a FPGA based trading platform which integrates full-hardware networking, decoding, filtering and normalisation features with a wire-to-software solution below 1.5 µs. Customers benefit from a single API offering access to an increasing number of markets.
ENYX’s “Feed Repair Technology” enables customers’ engines to consume high volume data feeds while ensuring every tick is carried. The solution also accelerates order entry to the exchange.
“We are delighted
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