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New and existing investment in Switzerland will migrate to Singapore as Asia begins to outperform the West economically, a poll conducted by international business law firm Lawrence Graham LLP (LG) has concluded.
More than 50 senior figures from London’s banking, advisory and investment communities took part in the poll, held as part of a panel debate about Asia, which showed 76 per cent of respondents believed traditional Swiss investment would ultimately switch to Singapore as the fast-growing Asian economy starts to dominate against the West.
Taking part in the panel debate, with LG Private Capital partner Nick Jacob, were
Gottex Fund Management’s flagship market neutral strategies are well ahead of their benchmarks as of the end of Q3 2011, according to the company’s latest trading statement. And Gottex’s alternative credit strategy outperformed its index by over 6%.
Total fee earning assets for the group stood at USD 8.2 billion, a decrease of 7.9% compared to USD 8.9 billion at 30 June 2011, primarily as a result of extensive volatility in global financial markets during the period.
Gottex Solutions Services (GSS) assets are up 24% year-to-date, while the company has also started an extensive US marketing road show for
Hedge funds posted the fourth worst quarterly performance in industry history in Q3 2011, as a combination of uncertainty regarding the European sovereign debt crisis and weakening economic data contributed to volatility across equity, credit, commodities and currencies.
These performance declines reduced total hedge fund industry capital by USD85 billion, according to today’s release of the HFR Global Hedge Fund Industry Report: 3Q11. The asset decline ends two consecutive quarters in which total capital under management eclipsed new record levels, and brings total hedge fund industry AUM to USD1.97 trillion. The HFRI Fund Weighted Composite Index declined by 6.2 per
ConvergEx Group has launched Spectrum, a new algorithm that gives portfolio traders the benefits of executing in a diverse array of domestic dark venues, while allowing them to maintain their required cash and sector balances. Designed by ConvergEx’s dedicated team of financial engineers, Spectrum enables users to trade cash neutral in the dark.
“For moving large orders with minimal market impact, dark liquidity is simply invaluable. However, portfolio traders, with their need to precisely manage risk and cash balances, have been virtually excluded from leveraging these dark pools. The timing and velocity of the dark pool fills is simply too random for
Managed futures gained 0.35% in September according to the Barclay CTA Index compiled by BarclayHedge. Year-to-date, the Index is down just 0.41%.
“Operation Twist in the US, sovereign debt uncertainty in Europe, and potential slowing in China all conspired to keep volatility high and to drive investors away from risk assets,” says Sol Waksman (pictured), founder and president of BarclayHedge. “Equity markets went into liquidation mode, bonds rallied, and commodity prices sold off as investors started pricing in a double-dip recession.”
Five of Barclay’s eight CTA indices gained ground in September. The Barclay Currency Traders Index was up 1.51%, Financial
The Conifer Group has launched Conifer iCon, the first cloud-based solution delivering an entire suite of asset servicing processes, including a data repository and in-depth attribution reporting, from one customisable portal.
For the first time, hedge funds and other money managers can run investment operations via a browser without needing an expensive in-house technology infrastructure.
"As investors continue to clamour for enhanced performance reporting and transparency, accurate and timely risk and attribution reporting has become a top priority for hedge fund managers," says Jack McDonald, President and CEO of The Conifer Group. "By bridging every investment support process that managers
SEI has been selected as a strategic partner to ARIA Capital Management to support their discretionary investment management services through its Global Wealth Services solution.
ARIA is a fast-growing, boutique private client investment manager focused on long-term relationships and achieving cash plus returns for their clients. The firm also runs a selection of absolute return and alternative funds, which have demonstrated consistent positive returns over full-market cycles.
The new partnership will support ARIA in executing its growth strategy over the coming years and will also provide clients with enhanced services, including an improved discretionary fund management service and better access
For the year to 30/09/2011, all Salus Alpha Funds clearly outperformed global equity markets in a difficult environment.
The Salus Alpha Commodity Arbitrage had a performance of +7.71% for the year to date until 9/30/2011, while the US S&P 500 Index lost 10.04%, and the German DAX30 index lost -0.42% in the same period. This is an outperformance against the S&P 500 Index of +17.75% and against the DAX 30 Index of +28.13%.
Other products managed by Salus Alpha performed as follows for the year to date until 9/30/2011: Salus Alpha Event Driven +1.87%; Salus Alpha Equity Hedged +5.80%; Salus
HazelTree Fund Services, a New York-based provider of Treasury management services to hedge funds, has appointed Wilson Pringle as a Managing Director in its New York office.
"We’ve seen unprecedented demand for HazelTree’s Treasury Suite product this year, and that demand has become heightened now that we are addressing Dodd Frank compliance with our new Form PF workbook," says HazelTree CEO Stephen Casner. "Our client base has more than doubled in recent months, so we are bringing Wilson in at precisely the right time to ensure that the level of specialised attention and service we’ve become known for continues unabated.
Peter Moore (pictured), head of regulation and compliance at UK compliance consultancy, The IMS Group, responds to yesterday’s EU agreement regarding regulation of credit default swaps (CDS) and short selling…
The ban on naked sovereign CDS is not consistent with findings of research commissioned by the European Parliament (which found that a ban would harm market liquidity, impair instrument valuation and could ultimately increase borrowing costs for sovereign states) and with research by the German Bundesbank (which found that the larger cash bond and sovereign CDS markets were reacting to events as opposed to either dictating or distorting them). This
