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The Credit Suisse LAB Index (CSLAB) was down 2.32% in May according to Dr Jordan Drachman (pictured), Head of Research for Alternative Beta Strategies at Credit Suisse.
Drachman says: "The Credit Suisse Liquid Alternative Beta Index (CSLAB), which aims to reflect the performance of the overall hedge fund industry, finished down 2.32% in May as four of the five sectors posted negative performance. Managed Futures, which is typically viewed as an effective tail risk hedging solution during sharp market downturns, was the single positive performer, up 2.50% in May, and had the highest performance year-to-date in 2012, up 0.46%."
A prospectus in relation to the proposed placing and offer for subscription of Sterling Shares, US Dollar Shares, Swiss Franc Shares and Euro Shares in DCG IRIS Limited has been approved by the UK Listing Authority.
DCG IRIS Limited is a newly formed, Guernsey registered non-cellular company with an indefinite life. The Company is a feeder fund and will principally invest its assets in CS IRIS Low Volatility Plus Fund Limited (the Master Fund), which is managed by Credit Suisse AG (the Master Fund Manager).
The Company has been established with the objective of providing its Shareholders, through its investment
XL Group plc’s insurance operations has launched a new suite of five products designed to meet the specific insurance needs of financial institutions.
The products recognise that not all financial institutions are the same and that these organisations are facing ever more complex risks. In addition, these institutions have to deal with the effects of continued uncertainty in financial and investment markets.
For the first time there is a commitment within each policy to minimum service standards, including in relation to claims handling and responsiveness, as well as a built-in confidentiality agreement. Furthermore the policies are designed to respond
While the strong yen and the European crisis continue to pose challenges, Invesco’s investment professionals are quite positive about the long-term prospects for Japanese equities, says Kunihiko Sugio, CIO & Chief Portfolio Manager at Invesco Japan…
Today, Japanese equities appear to be extraordinarily cheap, trading at an average P/B of 1.0x, an average P/E of 13-14x, and offering an average dividend yield of 2.1%-2.2%, compared to a 10-year government bond yield of just 1%. Of about 3,600 listed companies in Japan, more than 60% are trading below their book values, with numerous global leaders being among them.
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Wine investors are warned not to put all their eggs in one French basket in a new report from the University of East Anglia.
The fine wine investment market, valued at around USD4 billion a year, is currently dominated by French wines.
But research published in International Review of Financial Analysis shows that diversification – specifically across Italian, Australian and Portuguese wines – could prove a shrewd move for investors.
The wine industry is built around one of the most ancient global commodity markets. Prices of fine wines have soared in recent years due to the fast-growing demand from
The Commodity Futures Trading Commission (Commission) has filed a general creditor claim in the liquidation of MF Global, Inc, No. 11-02790 (Bankr. S.D.N.Y.).
The Commission took this action in relation to the Division of Enforcement’s ongoing investigation related to the failure of MF Global, Inc. If that investigation results in an enforcement action against MF Global, Inc, the Commission could pursue a restitution award for the benefit of commodity customers, which in turn could be the basis for a Commission claim as a general creditor against the MF Global, Inc. estate.
The Commission’s claim as a general creditor would not have
This week Daniele Haefele, CEO of Acolin, the Zurich-based independent fund distribution provider, talked to Hedgeweek about distribution opportunities in Switzerland.
Dalton Strategic Partnership LLP (DSP) is closing two funds within its Melchior range of UK OEIC Funds. The move has been made in order to focus its efforts on a smaller number of funds.
The Melchior Japan Opportunities Fund and the Melchior UK Opportunities Fund will be closed once permission has been received from the Financial Services Authority (FSA). Both funds enjoyed considerable success in the past, although in recent years they have struggled to attract clients and have become uneconomic vehicles for investors. Glen Pratt, the Portfolio Manager of the Melchior UK Opportunities Fund, will remain at DSP as a
Hedge fund manager Kellner DiLeo & Company has been reorganised and renamed Kellner Capital, and has launched a new event-driven investment fund.
George Kellner, Founder and CEO, says: "The firm has experienced exciting changes and we thought it appropriate to rebrand the organisation."
The new fund launched with more than USD50 million in assets. "We believe our investment process which combines rigorous fundamental research with volatility trading provides an edge as we focus on niche opportunities which are less followed and undiscovered," says Kellner.
Kellner adds that the firm continues in its matched book securities lending partnership and that the
Eurex Clearing is cooperating with Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, JP Morgan and Morgan Stanley to support the launch of its new clearing service for OTC Interest Rate Swaps (IRS).
EurexOTC Clear for IRS will deliver efficient risk management and safety for dealer and client clearing ahead of the start of the clearing obligations in Europe as required by the European Market Infrastructure Regulation (EMIR). Eurex Clearing plans to achieve technical production readiness beginning of July 2012; the production roll-out planned for the second half of 2012 will then be closely coordinated with the readiness of clearing
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