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The Lyxor Hedge Fund Index was down 2.86% in September. Year-to-date performance as of September 2011 is down 6.55%.
The top performing strategies over the month were Lyxor L/S Equity Short Bias Index (+2.67%), Lyxor CTAs Short Term Index (+2.29%) and Lyxor CTAs Long Term Index (+0.07%).
The Lyxor Hedge Indices are investable, asset-weighted indices, designed to offer investors straightforward access to hedge fund performance. The indices are based on Lyxor’s managed account platform that covers all the major hedge fund strategies and benefits from a high level of transparency and risk control, while ensuring weekly liquidity. The Lyxor Hedge
Investment Technology Group, Inc has released a suite of algorithms for futures. The ITG futures algorithms are available via ITG’s award-winning Triton® execution management system, through the ITG Matrix®front-end and API for derivatives trading, and also via FIX connection to ITG from third-party trading systems.
"These new algorithms provide a range of flexible strategies for investors seeking to take positions or hedge portfolios using futures," says Patrick Read, ITG’s Head of Derivatives. "In developing these futures algorithms, we leveraged our long history of creating best-of-breed tools for the asset management community."
The new algorithms are an enhancement to ITG’s existing
Kinetic Partners, a global professional services firm to the asset management, investment banking and broking industry, has appointed three new professionals to its consulting team.
Patrick Crumplin, Martin Duff and Emily Benson join the Firm’s highly-regarded regulatory consulting and compliance team and all three will be based in the firm’s London office. Kinetic Partners is also delighted to announce the appointment of Angela Liotta as Global Talent Director to the Firm.
Crumplin joins Kinetic Partners as a Director, specialising in regulatory and other financial investigations and litigation support. He has over 13 years of forensic accounting, litigation support and
Alternative asset management group Gottex Fund Management Holdings Limited (Gottex), has appointed Steven Lee Hyungwk as Marketing Director for the Asia Pacific region.
Based in Gottex’s Hong Kong office, Hyungwk will play an active role in marketing and business development in the Asia Pacific region with particular focus on institutional clients. He joins Gottex from Wellington Management Company where he was a member of the marketing team since 2001 and closely involved in client management and business development in Asia, in particular
Korea, Hong Kong and China.
Max Gottschalk (pictured), Head of Gottex’s Asia Pacific business, commented: “We are very
Less than a month after ruling on certain preliminary issues, the BVI court has ruled that the Madoff-related claim brought by Fairfield is unsustainable and should be dismissed, says law firm Harneys.
In a judgment handed down in Road Town the Court held that its previous findings on the preliminary issue of consideration disposed of all but the last paragraph of the Statement of Claim which Fairfield argued was an alternative claim in mutual mistake. Although the Court expressed doubt as to whether such a claim was properly pleaded, the Court found that even a properly drafted mutual mistake claim
Concerns about new regulations did not do much to slow institutional activity in flow equity derivatives last year, but a lack of conviction on the part of equity investors kept a lid on trading volumes.
While US institutions entered the second half of 2011 expecting a pickup in trading volumes in the months to come, it remains to be seen how the recent market volatility will affect equity derivatives trading volumes.
More than a third of US institutions participating in the Greenwich Associates 2011 North American Equity Derivatives study say they expect to increase their use of flow equity
Hedge funds pulled in USD6.1 billion in August, the seventh inflow in eight months, report BarclayHedge and TrimTabs Investment Research. Hedge funds hauled in a heavy USD51.0 billion in the first eight months of 2011.
“Recent inflows might owe in part to excellent relative performance,” says Sol Waksman (pictured), founder and President of BarclayHedge. “While the S&P 500 plunged 10.6% in the four months ended August, the Barclay Hedge Fund Index decreased only 5.6%. Additionally, our preliminary data for September reveals that hedge funds outperformed the S&P 500 by more than a 2:1 margin again last month.”
Fixed income hedge funds are
The corollary to the recent falls in emerging market equities is that valuations begin to look attractive, says Bill O’Neill, EMEA Chief Investment Officer of Merrill Lynch Wealth Management…
The MSCI Emerging Market Index is trading (as at end September) on an 8.8x one year forward price earnings ratio, nearly 20% below its average since 2002. Similarly, on a price to book basis at 1.6x, the index is around 27.5% below its average since 2004. The argument is not clear cut, however. Relative to the MSCI World Index, the emerging market index relative P/E ratio is 10.8% above the average;
The Hennessee Hedge Fund Index declined 3.7% in September (-5.2% YTD), while the S&P 500 declined 7.2% (-10.0% YTD), the Dow Jones Industrial Average fell 5.9% (-3.9% YTD), and the NASDAQ Composite Index decreased 6.4% (-9.0% YTD).
Treasury and high quality bonds rallied amid the volatility, as the Barclays Aggregate Bond Index advanced 0.7% (+6.7% YTD), while the Barclays High Yield Credit Bond Index fell 3.3% (-1.8% YTD).
“September was another challenging month for hedge funds, capping one the of the worst performance quarters in history, largely driven by increased European sovereign debt risks and not declining domestic equity
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Wednesday 19 October, 20 Canada Square, Canary Wharf, London E14 5LH
12.00 Registration and sandwich lunch

12.30 -14.00 Seminar


S&P Capital IQ Equity Research’s July 2011 recent report on the mining sector highlights the key drivers of performance and future challenges for the industry. Since publication of the report, general economic uncertainty and stock market sell-off has plunged already low sector valuations back towards their 2008 lows.
Why is the market discounting a sharp drop in earnings for a sector that consensus estimates are expecting record earnings from?
Which commodities are most exposed to
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