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Hedge funds took in an estimated USD6.8 billion in February, reversing a trend that saw more than USD21.5 billion flow out of these funds in January 2012 and December 2011, the largest outflows since July 2009, according to BarclayHedge and TrimTabs.
Hedge fund managers underperformed the S&P 500 by 180 bps in February, returning 2.3% vs. 4.1% for the S&P 500, according to the monthly BarclayHedge/TrimTabs hedge fund flow report. Managers also underperformed the S&P 500 in the first two months of 2012, 5.5% vs. 8.6%.
"Despite February’s inflows, below average performance and net outflows have kept a lid on
Wilmington Trust has launched a new mutual fund, Wilmington Rock Maple Alternatives Fund, which provides exposure to a diverse set of alternative strategies.
The fund is managed by a team of experienced professionals with expertise in selecting and blending investment strategies with complementary styles, risk exposures, and opportunities. The goal of the fund is to deliver long-term growth of capital through consistent returns with a low correlation to traditional asset classes.
The fund’s portfolio managers selected eight independent sub-advisors, which will oversee separate sub-portfolios of the fund in accordance with specific parameters, constraints, and risk-return objectives. The fund also has
S&P Capital IQ has appointed Barbara Reguero to lead the group’s award-winning global independent research operations, which includes Equity, ETF and mutual fund analyst teams in New York, London and Singapore.
In this new role, Reguero will direct S&P Capital IQ’s global independent research organisation of 65 analysts while collaborating with product teams to develop and improve new and existing products for wealth managers and financial advisors and create new offerings for global institutional and trading clients.
"We are very pleased to welcome Barbara Reguero as Managing Director of Cross-Asset-Class Research," says Lou Eccleston, President, S&P Capital IQ and S&P
Aquila Capital, the Hamburg-based alternative investment company, has appointed Armin Gudat as Senior Fund Manager. Gudat will be responsible for Aquila Capital’s quantitative funds.
Gudat joins Aquila Capital from AXA Rosenberg, the specialist active global equity investment management firm, where he was responsible for managing relationships with supporting institutional investors in Germany, continental Europe and the Middle East. He has over 20 years experience as a portfolio manager and product specialist, having worked across a range of asset classes, including equities, fixed income, currencies, asset allocation and hedge funds.
Gudat previously held various roles at key German banks, such as
The Hennessee Hedge Fund Index advanced 0.59% in March (+4.59% YTD), while the S&P advanced 3.13% (+12.00% YTD), the Dow Jones Industrial Average increased 2.01% (+8.14% YTD), and the NASDAQ Composite Index climbed 4.20% (+18.67%).
Bonds declined, as the Barclays Aggregate Bond Index declined 0.55% (+0.31% YTD) and the Barclays High Yield Credit Bond Index fell 0.14% (+5.33%).
“Hedge funds posted their best first quarter since 2006 but lagged equity markets as managers were conservatively positioned,” says Charles Gradante, Managing Principal of Hennessee Group. “However, with 77% of stocks currently trading above their 200 day moving average, many managers
One of the biggest challenges for fund managers right now is the issue of dealing with multiple counterparties and its impact on performance, cost of carry and on providing transparency across asset classes, says portfolio accounting software specialist Advent…
Traders hold multifarious securities often through financing provided by their prime brokers. In years gone by, this was straightforward enough as managers typically had sole broker relationships. Post ’08, however, this is no longer the norm. Multiple prime broker and custody relationships mean that today’s hedge fund manager is dealing with numerous margin agreements, managing cash balances across the institution, and
Oak Hill Advisors (OHA) has promoted William H Bohnsack, Jr (pictured) to President. Bohnsack has served as the investment management firm’s Chief Operating Officer since 2001 and one of its four senior partners since 2005.
As President, Bohnsack will have expanded oversight of several activities at OHA, including firm management, business development and strategic initiatives. In executing these and other responsibilities, he will continue to work alongside the firm’s other senior partners, including Mr. August, Scott D. Krase and Robert Okun.
Glenn R August, Founder and Chief Executive Officer of OHA, says: “Bill has been an outstanding partner and
Appleby (Cayman) has formed a dedicated Regulatory and Financial Services Team to provide advice to local and international clients on regulatory matters in the Cayman Islands.　　
The Regulatory and Financial Services Team will build on the wealth of the firm’s current expertise in this growing field. The focus of the team will include licensing and regulatory approvals, regulatory reporting, compliance, corporate governance, and risk management.　
The team is led by corporate partner, Sherice Arman (pictured), and comprises leading practitioners from across various Appleby practice groups and teams, including banking and finance, insurance, local business, litigation, and private client and trusts.
WTP Advisors has expanded its services to include a comprehensive Form PF Diagnostic. Form PF, a reporting obligation adopted by the Securities and Exchange Commission is a challenging and lengthy undertaking for many hedge funds that are confronting quickly-approaching filing deadlines.
“With all the confusion surrounding Form PF it really comes down to ‘data’. Firms need to take stock of what they have, what they need and how it all comes together,“ says Lou Sala, CEO of WTP’s Capital Markets division.
Leveraging its middle and back office expertise, the Capital Markets team at WTP Advisors provides full data discovery
Specialist banking litigation firm Stewarts Law LLP is filing an appeal in the matter of Euroption Strategic Fund Ltd v Skandinaviska Enskilda Banken AB (“SEB” and the “Euroption Proceedings”) for its client, Euroption.
The widely reported Euroption proceedings relate to Euroption’s claim that, during the October 2008 “credit crunch”, SEB negligently conducted a close out of Euroption’s open option positions in breach of a duty of care owed to Euroption. The SEB close out arose after the increasing market volatility (following the collapse of Lehman Brothers, Kaupthing Bank hf and other financial institutions) caused SEB to make large margin calls
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