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The hedge fund industry added USD2.3 billion (0.1% of assets) in March, down from a USD6.8 billion inflow in February and only the fourth monthly inflow since July 2011.
Based on data from 3,034 funds, the March TrimTabs/BarclayHedge Hedge Fund Flow Report estimated that industry assets stood at USD1.8 trillion in March, up 2.2% from USD1.7 trillion in February.
In the first quarter of 2012, ended March 31, TrimTabs and BarclayHedge reported industry outflows amounted to USD3.2 billion. In the same period, the industry managed a mere 5.61% gain, while the S&P 500 surged 12%. “Hedge fund industry returns continued
Kinetic Partners has opened a new office Jersey, the firm’s first presence in the Channel Islands.
The new Channel Islands office will support global financial services organisations and local firms, with a focus on regulatory, compliance, due diligence, tax and forensic and dispute advisory services and will be headed by Malin Nilsson, Director at Kinetic Partners. Nillson has been with the Firm since 2007 and specialises in regulatory compliance, concentrating on governance, systems and controls, risk management and suitability, KYC and AML, as well as forensic investigations.
Kinetic Partners marked the opening of the new office with an event in
HSBC has appointed Melvyn Ford as Head of Prime Services, Asia. Based in Hong Kong, Ford will be responsible for the continued expansion of Prime Services operations in the region.
Prime Services was rolled out in Asia during 2011 to meet the needs of the growing number of hedge funds establishing themselves in the region. HSBC has seen significant success in signing up clients to the platform and has continued to make additions to the team to drive the momentum that has been generated.
With 17 years based in Asia, Ford brings a wealth of experience, knowledge and proven revenue
Hedge funders managing north of USD5billion in assets face a rapidly encroaching 15 June 2012 deadline to file Form PF.
The filing is to be based on the first quarter of fiscal year 2012, with large private fund advisers managing between USD1.5billion and USD5billion facing a less onerous deadline of 15 December 2012. Those managers running less than USD150million in assets will be required to file annually as opposed to quarterly.
Form PF is a detailed, prescriptive document, which, after all, is meant to help US regulators ascertain whether hedge funds pose systemic risk.
GlobeOp recognised early on that Form
GlobeOp Financial Services is launching an independent, asset-weighted hedge fund performance index on 15 May, 2012. The latest in a series of monthly GlobeOp hedge fund indices, it is transparent, consistent in underlying funds and data processing, and free from selection and survivorship bias.
“The GlobeOp Hedge Fund Performance Index offers a timely and true reflection of the aggregated return on capital invested in funds on our administration platform,” says Hans Hufschmid (pictured), chief executive officer, GlobeOp Financial Services. “The Index does not overstate exposure to, or the contribution of, any single strategy to aggregated hedge fund performance. Its correlation
The Honourable Jed S Rakoff, United States District Judge, United States District Court for the Southern District of New York, has entered a Final Judgment on consent as to James Fleishman in the SEC’s insider trading case, entitled SEC v Mark Anthony Longoria, et al, 11-CV-0753 (SDNY) (JSR).
This case alleges insider trading by ten individuals and one investment adviser entity, all of whom are consultants, employees, or clients of the so-called “expert network” firm, Primary Global Research LLC (PGR).
The SEC filed its Complaint on 3 February, 2011, charging two PGR employees and four consultants with insider trading for illegally
On the 23 April 2012, Germany and Luxembourg signed a new Double Tax Treaty ("the Treaty") which is to replace the previous treaty dating back to 1958. And according to Dechert, the new Treaty may impact on many US, UK and other non-German investors as Luxembourg is often used as a tax efficient jurisdiction for German inbound investments (particularly used by funds, private equity and real estate investors).
The main changes include:
Explicit Treaty access for funds – Luxembourg investment funds in the legal form of a SICAV, SIVAF or SICAR are to be able to claim Treaty benefits in
AlphaHedge Capital Partners, LLC (AlphaHedge) has launched a separately managed account (SMA) platform to provide an array of long/short equity hedge fund strategies to high-end investment advisors, consultants, family offices, broker-dealers and institutions.
According to Gregory S Horn, chairman and CEO, a growing number of investment advisors and their clients are frustrated by the high volatility and low returns from equities over the past decade and are interested in less volatile equity exposure. Long/short equity strategies offer advisors an opportunity to potentially lower a client’s equity risk profile without reducing the underlying allocation.
Horn explained that SMAs available via the
The Hennessee Hedge Fund Index declined 0.38% in April (+4.02% YTD), while the S&P 500 fell 0.75% (+11.16% YTD), the Dow Jones Industrial Average increased 0.01% (+8.16% YTD), and the NASDAQ Composite Index declined 1.46% (+16.94%).
Bonds rallied, as the Barclays Aggregate Bond Index increased 1.11% (+1.42% YTD) and the Barclays High Yield Credit Bond Index advanced 1.05% (+6.44%).
“Hedge funds declined in April, along with equity markets, due to renewed concerns that the European sovereign-debt crisis would worsen and global economic growth would slow,”says Charles Gradante (pictured), Managing Principal of Hennessee Group. “After a strong rally in the first quarter, hedge fund managers were positioned cautiously
A recent decision of the Grand Court of the Cayman Islands (the Court) in the case of FIA Leveraged Fund has laid down, for the first time, the principles applicable to an in specie (or in kind) distribution of fund assets to investors.
The documents which make up the contractual arrangements between a hedge fund and its investors commonly give management the power to satisfy a redemption request by distributing assets in kind rather than making a cash payment. This is the first time the Court has delivered a judgment regarding the manner in which that power is to be
