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HSBC Global Asset Management has hired four people for its global macro and investment strategy team, led by Philip Poole in London.
Poole (pictured) joined Global Asset Management in July 2010 from HSBC Global Research where he was global head of emerging markets.
The role of the macro and investment strategy function is to provide economic and strategic research support for the investment teams at HSBC Global Asset Management. The team is also responsible for providing timely and informative market views to clients, ranging from daily market updates to market alerts and the longer Investment Quarterly report.
Julien Seetharamdoo has been
LCH.Clearnet’s interest rate swap clearing service, SwapClear, now clears approaching 50 per cent of all outstanding over-the-counter forward rate agreements (FRAs).
The rapid and broad adoption of FRA clearing since its introduction on SwapClear in December 2011 comes well ahead of mandatory clearing and reflects the market’s recognition of the value the product plays in cross-margining as an alternative to listed futures contracts.
FRAs are an important tool for offsetting short interest rate swap risk, and represent one of the most actively traded over-the-counter derivatives. SwapClear is the only service to offer clearing of OTC FRAs.
Since the product’s introduction,
Funds under management at Man Group totalled USD52.7bn at 30 June 2012, down from USD58.4bn at 31 December 2011.
The figure reflects sales of USD7.2bn, redemptions of USD9.6bn, investment movement of -USD0.3bn, FX translation effects of -USD0.5bn and other movements, principally guaranteed product degears, of -USD2.5bn, according to the company’s latest interim results.
Adjusted profit before tax (PBT) was USD121m, comprising adjusted net management fee PBT of USD108m and net performance fee PBT of USD13m.
The group reported a statutory loss before tax on continuing operations for the six months ended 30 June 2012 of USD164m, reflecting impairment of goodwill
PineBridge Investments, a multi-asset class investment manager, has selected Bahrain as the location for its Middle East and North Africa headquarters.
PineBridge is an independent asset manager with over USD67bn of assets under management for institutional and individual clients across a platform of listed equity, fixed income and private equity and hedge fund strategies.
PineBridge has hubs in New York City and Hong Kong, and offices in over 20 countries.
PineBridge has received a Category 1 license from the Central Bank of Bahrain and is currently in the process of establishing its regional headquarters in Manama.
The new firm, PineBridge
Singapore Exchange is enhancing the rules to strengthen its default management framework to protect its derivatives market against systemically destabilising events, which include the possibility of multiple member defaults.
This enhancement follows a public consultation issued in September 2011.
Clearing houses globally have been called upon to provide greater clarity and transparency in their default management practices. Their members would like to have more certainty with regard to their obligations in the event of default of other participants.
The move to make it mandatory to clear over-the-counter derivatives through a central counterparty by early 2013 concentrates more risks in
Institutional investors can now trade Turkish listed securities through Liquidnet’s platform.
Institutional investors can now trade Turkish listed securities through Liquidnet’s platform.
Liquidnet now provides access to 40 equity markets. Trades of Turkish equities will be executed via Liquidnet’s appointed local broker on the Istanbul Stock Exchange.
“The Turkish economy has shown strong signs of growth despite global macro volatility, capturing the interest of portfolio managers globally,” says Per Lovén (pictured), head of corporate strategy for Liquidnet Europe. “As Turkey continues on its path to becoming a regional financial powerhouse, institutional investors looking to unlock value in Turkish growth
Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, finished May down 0.40 per cent, with five out of 10 strategies in positive territory.
In total, the industry saw estimated outflows of approximately USD2.53bn in June, bringing overall assets under management for the industry to approximately USD1.73trn.
The equity market neutral and fixed income arbitrage sectors experienced the largest asset inflows on a percentage basis in June, with inflows of 0.93 per cent and 0.43 per cent from May 2012 levels, respectively.
Long/short equity funds posted positive performance as June was somewhat of a "risk-on" month
Paskewitz Asset Management has listed its S&P Contrarian Program as a TransparentFund on AlphaMetrix, an online marketplace for private investments.
As a TransparentFund, the Paskewitz S&P Contrarian Program is now visible to the AlphaMetrix network.
Paskewitz will retain its existing structure and service providers while offering investors risk monitoring, reporting, customised transparency and a background investigation via AlphaMetrix.
"We are happy to list our S&P Contrarian Program on AlphaMetrix,” says Bradford Paskewitz, founder and chief executive of Paskewitz Asset Management. “AlphaMetrix, which has an excellent reputation in the industry, provides investors with value-added trading transparency as well as an additional
Entrepreneur Partners has launched its second long/short hedge fund on its platform, the Trias L/S Fund.
The fund will apply macroeconomic and fundamental stock analysis to a universe of liquid German, Austrian and Swiss companies.
The strategy encompasses event-driven, momentum and value approaches to equity investing. The portfolio’s exposures will be actively managed on a continuous basis, and include short-term trading alongside longer-term holdings.
The Trias L/S Fund is managed by Kilian Kentrup, who until recently worked as co-portfolio manager for the Rhine Alpha Funds at RBR Capital. The fund aims for an annual volatility of around 12 per cent.
San Diego-based Brandes Investment Partners has launched a Dublin-domiciled emerging market equity fund reported Citywire Global this week.
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