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A number of policy-makers have blamed the decade-long rise in commodity prices and recent market volatility on the growing influence of financial investors and called for new regulation restricting their participation in commodity markets.
Market financialisation has also led investors to worry about higher integration between commodity and traditional financial markets weakening the portfolio benefits of commodity investment.
EDHEC-Risk Institute Professor Joëlle Miffre (pictured) addresses these concerns in a study released today entitled “Long-Short Commodity Investing: Implications for Portfolio Risk and Market Regulation”, produced with market data and support from CME Group.
The study first examines the performance and risk
Alternative Investment Management, LLC, a privately owned investment management firm, has appointed Donna A Toth as its chief operating officer. Toth will be based in New York and will report directly to Jonathan Harris, president of AIM.
Prior to joining the firm, Toth was a founder and managing principal of Park Hill Group, the third-party global placement agent arm of Blackstone. There she was responsible for directing all operational and financial functions of the business.
Previously, she was the chief financial officer at Atlantic-Pacific Capital, a global boutique placement agent, responsible for compliance and financial reporting.
Earlier, Toth was
Blue Sky Alternative Investments (formerly Blue Sky Funds Management) has appointed Debra Goundrey (pictured) as Global Head of Distribution and David Fraser as Global Head of Private Clients – two newly created roles, which will focus on strengthening Blue Sky’s private client base and distribution channels domestically and offshore.
Goundrey will be based between Brisbane and New York to establish Blue Sky’s presence in North America and Europe and will contribute to the growth of the firm’s domestic assets and distribution strategy.
Fraser will focus on growing Blue Sky’s private client base in the high net worth and family office
The Securities and Exchange Commission today announced that Andrew J Bowden has been appointed an Associate Director to lead the National Investment Adviser/Investment Company Examination Program in the SEC’s Office of Compliance Inspections and Examinations (OCIE). He starts on 1 November.
Bowden comes to the SEC from Legg Mason, where he held senior executive positions in its legal/compliance and business units. Bowden will oversee a staff of approximately 450 lawyers, accountants, and examiners responsible for the inspections of U.S.-registered investment advisers and investment companies.
“Drew brings extensive experience in the operation and oversight of investment advisers and investment companies and
The exchange-traded derivatives market has been one of the few highlights of the post-financial crisis period, driven by innovative products such as exchange-traded fund options and volatility index derivatives in the developed markets of the US and Europe, along with the boom in equity, currency, and commodity derivatives in the emerging markets such as Brazil, India, and China, according to a new report from Celent.
Global Exchange-Traded Derivatives: A Silver-Lining Amid Dark Clouds?, reveals that exchange-traded derivatives have seen healthy growth rates over the last few years. In terms of notional amount outstanding, futures grew by 14.95% between 2005 and
“Real asset” and commodity equities have significantly outperformed core equities and commodity futures respectively, with comparable volatility, and have beaten inflation more frequently than core equities and commodities over a rolling five-year investment horizon.
Accessing real assets through equities, S&P Indices’ latest research paper, demonstrates that investors seeking a real asset allocation need not be handcuffed by traditional asset class boundaries. Investing in real asset-based equities is an alternative way of accessing commodities, real estate and infrastructure, with investors increasingly recognising real assets as a distinct asset class that offers both inflation protection and portfolio diversification. Real assets that can
Singapore Exchange (SGX) has successfully launched its clearing service for OTC traded Asian Foreign Exchange (FX) Forwards (non-deliverable) with Deutsche Bank, DBS Bank and OCBC Bank clearing their first Asian FX Forwards with the Exchange.
A world’s first, this initiative is aligned with global developments toward central counterparty clearing (CCP) of OTC derivatives to promote systemic stability in financial markets. The clearing of Asian FX Forwards covers non-deliverable Asian currencies, namely Chinese Yuan, Indian Rupee, Korean Won, Indonesian Rupiah, Malaysian Ringgit, Philippine Peso and Taiwanese Dollar.
Muthukrishnan Ramaswami, President, SGX, says: “SGX is committed to offer clearing solutions to meet
The Securities and Exchange Commission today announced additional charges in its insider trading case against Denver-based traders who traded on confidential information in the securities of Mariner Energy Inc. ahead of the oil and gas company’s USD3.9 billion takeover by Apache Corporation in April 2010.
In its initial complaint filed on 5 Aug, 201, the SEC alleged that Mariner Energy board member H Clayton Peterson tipped his son with confidential details about Mariner Energy’s upcoming acquisition. Drew Clayton Peterson, who was a managing director at a Denver-based investment adviser, then used the inside information to purchase Mariner Energy stock for
Jeroen Tielman (pictured), CEO and Founder of IMQubator (IMQ), says that the existing investment management model is broken, and he is determined to take complaints from hedge fund investors in the wake of the crisis to heart, by demanding the structure and governance of the funds IMQ incubates to be better aligned with the long term interests of investors.
Tielman believes it is time for a new generation of hedge funds – as well as for hedge fund seeders – that can deliver transparency and a consistent investment strategy delivering absolute returns and not fall foul of industry ‘bad habits’.
Blackstone Group’s economic net income (ENI) was a loss of USD341.9 million for the third quarter of 2011, a decrease of USD681.2 million compared to ENI for the third quarter of 2010.
The decrease in ENI compared to the third quarter of 2010 was principally due to market-driven declines in the carrying value of assets as of 30 September , 2011 across Blackstone’s investment segments, partially offset by an increase of USD66.4 million, or 18%, in Management and Advisory Fees to USD442.6 million for the third quarter of 2011. However, since 30 September, 2011, US and European markets have rebounded.
