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ML Capital Asset Management has told Hedgeweek in an exclusive that it is preparing to launch a new UCITS fund on its MontLake Platform.
Covenant Financial Services, the management company for the Covenant family of target-return, global macro hedge funds and separately managed accounts, has changed its trade name to “Covenant Global Investors.”
The change was made to better reflect the firm’s current position in the market and the completion of its evolution from a boutique advisory firm started in 1984 to the USD320 million AUM global macro investment manager that it is today.
Over the past year, as Covenant Global Investors has expanded its focus from high net worth investors to include institutions and as its assets have grown to approximately
First more jobs and now a resurgent economy – January has seen President Obama’s undeclared re-election campaign make a dream start, says Marcus Bullus (pictured), trading director at MB Capital…
The fourth quarter GDP figures may have undershot predictions. But any disappointment should be mitigated by one plain truth – they are the best evidence yet that the American economic giant is stirring from its slumber.
The markets had hoped for better – so this solid rather than stellar performance may not be enough to keep this month’s raging bull of a market from charging upwards and onwards.
The international derivatives market Eurex Exchange has exceeded five million contracts traded in the BTP derivatives segment since trading began in September 2009. The segment comprises three futures based on notional short-, medium- and long-term bonds issued by the Republic of Italy (Buoni del Tesoro Poliennali – BTP).
“The extensive use of BTP futures is primarily due to the hedging motives of participants. Uncertainty regarding the development of the euro zone in light of the debt incurred by certain member countries caused a significant increase in volatility on the bond markets in 2011. The yield spread also widened between German
Spectrum Asset Management has strengthened it institutional sales efforts with the appointment of Steven Solmonson who joined the firm in mid-January.
Mark Lieb, founder and CEO of Spectrum Asset Management, says: “Steven and I have known each other for more than 30 years, having worked together at Drexel Burnham Lambert where we launched DBL Preferred Advisory Management in 1982. Steven’s experience in the capital markets and, in particular, working with pensions, endowments and professional family offices globally, will make him a tremendous addition to Spectrum’s team.”
Solmonson joins Spectrum following his long-standing tenure as President of Park Place Capital Ltd,
Market Data & Analytics has launched “AlphaFlash”, its algorithmic news feed, in a data centre in Sao Paulo. The feed is available now in Brazil, marking AlphaFlash’s official expansion into South America.
“Brazil is considered the leader in algorithmic and high frequency trading in Latin America. As this growing market continues to develop, we see greater demand from local quant traders, hedge funds and market participants to consume machine-readable news quickly and efficiently. The new data centre allows customers to access AlphaFlash as fast as possible – right on the spot in Brazil, so they can swiftly execute their automated
By Robert Mellor (pictured) and Gary Burr, PwC – With the Christmas season only recently behind us, thoughts don’t easily turn to matters of taxation. However, changes to tax rules in various jurisdictions around the world, both proposed and already legislated for 2012 and beyond, are likely to demand hedge fund managers’ attention sooner rather than later.
A trend that began as far back as 2010, continued in 2011 and is likely to continue unabated in 2012 is the increased focus on tax reporting. With the potentially onerous reporting and ultimately, withholding, obligations to be imposed by the US’ Foreign
By James Williams – Every which way you look in Europe there seems to be a new piece of legislation lurking via the corridors of Brussels, with a specific aim of targeting hedge funds. To say it is disproportionate is an understatement. Nevertheless, London’s hedge fund community cannot change the reality of the situation: regulation is not going to go away. It’s a case of embracing it and understanding it, whilst at the same ensuring their business operations remain steadfastly competitive.
London has always been blessed with an entrepreneurial spirit. Like New York, its fund management centre is dynamic and
One of the potential consequences of the AIFM Directive is that fund managers, particularly those with a largely European investor base, may look to supplement existing offshore platforms with parallel onshore structures. But as Oliver Godwin (pictured), a partner based in Ogier’s London office, points out, the Cayman Islands remain the pre-eminent fund jurisdiction for London hedge fund managers.
“We are doing a lot of hedge and private equity work in Cayman as well as significant hedge fund work in the BVI. There’s a lot of European alternative funds work being done in Jersey and Guernsey as well so across
By James Williams – Given London’s mantle as Europe’s leading hedge fund centre, it perhaps comes as a surprise that last year’s best performing UK hedge fund wasn’t based there at all, but rather a city more famous for its sleepy spires and cloistered colleges: Oxford.
According to Bloomberg Markets’ latest 100 Top-Performing Large Hedge Funds report, OxFORD Asset Management’s OxAM Quant Fund, managed by Andre Stern, Steve Mobbs and Steven Kurlander generated an impressive 16.4 per cent in 2011, placing them 12th in the list. Of course, the vast majority of UK hedge funds are based in the capital,
