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The number of new hedge fund launches declined, while the number of liquidations rose in the volatile Q3 2011, as Macro considerations surrounding the European sovereign debt crisis continued to drive financial markets and the resolution of the crisis remained unclear. According to the Market Microstructure Industry Report released today by HFR (Hedge Fund Research, Inc), new hedge fund launches declined to 265 funds in 3Q11, a decline of 15 over the prior quarter but representing a modest increase over 3Q10.
Hedge fund liquidations rose to 213 funds, an increase of 22 over the prior quarter and 45 over 3Q10.
Paladyne Systems, a Broadridge company has appointed William Kelly as global head of sales. His appointment is a strategic move to leverage the size, scale, and synergies that Broadridge brings to Paladyne through its recent acquisition.
"Paladyne is working to accelerate sales across the Americas, EMEA and Asia Pacific, and Bill brings the necessary experience to lead our business development efforts globally," says Sameer Shalaby (pictured), President, Paladyne Systems. "He will be instrumental in extending Paladyne’s unique solutions to new and existing clients across the buy-side industry."
Most recently Managing Director and Global Head of Sales at GlobeOp Financial Services,
Figures issued this week show that the value of investment fund business in Guernsey fell by GBP3.4 billion (1.2%) during the third quarter of 2011.
This decrease follows eight consecutive quarters of growth and takes the net asset value of funds under management and administration in the Island to GBP271.1 billion at the end of September 2011. However, this is still a rise of GBP27.9 billion (11.5%) compared to the end of September 2010.
Peter Niven, Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry – says: “From the initial crisis point of 2008 we
The Salus Alpha Event Driven had a performance of +1.51% for the month to date, outperforming the S&P 500 Index by +2.02%. The 24 month rolling alpha of Salus Alpha Event Driven to the S&P500 is 3% p.a., the 24 month rolling beta is currently 0.0. This implies that in the past 24 months, the fund had a return of 3% due to active management (alpha).
The Salus Alpha Real Estate had a performance of -1.11% for the month to date, outperforming the EPRA / NAREIT Index by +3.49%. Salus Alpha Real Estate is a single manager single strategy fund,
Swiss-based systematic trading firm, Da Vinci Invest AG, is preparing to launch a new Cayman fund based on a proprietary strategy it’s been running since 2009, Hedgeweek can exclusively reveal. Speaking with the firm’s co-founder and CEO, Hendrik Klein (pictured) last week, the new fund will be called the Da Vinci K Squared Tachyon Fund and will use a standard 2 and 20 fee structure.
The fund will officially launch 1 January 2012 and in what is believed to be a first for the industry will use algorithms to identify economic indicators taken from news feeds to initiate trades systematically.
Advent Software has appointed Hazem Elmalla as the new head of professional services in the Middle East and North Africa (MENA). In this role, Elmalla will support Advent’s ongoing operation and be responsible for the professional services teams dedicated to clients in the region.
Advent Software has been engaged in the Middle East and North Africa and active as a member of the Dubai International Financial Center (DIFC) since 2004. More than 30 MENA-based clients today use Advent’s specific local solutions combined with its world-class investment management systems. As evidence of the company’s commitment to the region and to understanding
Aquila Capital, the Hamburg-based alternative investment company, has appointed Oldrik Verloop to lead business development in Benelux and Scandinavia.
Verloop, 36, joins Aquila Capital from Switzerland’s oldest bank, Wegelin & Co, where he developed and implemented a market entry strategy for the Benelux and Scandinavian institutional markets. Originally qualified in Dutch civil law, Verloop started his career with leading US telecom company MCI WorldCom, before moving to Cameroon to lead the West African operations of a commodity trading firm. He later returned to the Netherlands to join Shell Gas & Power’s corporate strategy, planning and portfolio department. He holds an
The IMS Group (IMS), the leading regulation and compliance consultancy, has bolstered its consultancy offering with four new hires.
Dominic Williams, Elisebeth Slater and Michael Strug join as compliance consultants. Saira Farooq joins as a consultant in the dedicated Regulatory Transactions Team.
Williams has worked in the financial services industry for 15 years, and in compliance roles for the last 13 years, predominantly with asset managers, including most recently five years as the standalone compliance officer at J. Rothschild Capital Management. At IMS, Williams will provide compliance advice to a range of clients including asset managers, private equity firms and hedge
November proved to be another challenging month in what is proving to be one of the toughest years, performance-wise, for global hedge funds.
Highbridge Capital Management LLC has appointed Arjun Menon as the firm’s Asia head as it looks to place more emphasis on high-yield credit, convertible bonds and volatility tra
