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Lombard Odier Investment Managers has appointed Philip Chew as head of risk, operations and information technology.
For more than 14 years, Chew led the building of risk reporting, research and portfolio management systems at BlackRock Inc. and for the last five years was Managing Director in BlackRock Solutions where he headed an organisation based in the U.S. and the United Kingdom.
Based initially at LOIM’s New York offices and then in Geneva, he reports to Hubert Keller, a Lombard Odier Managing Partner, responsible for LOIM.
“Philip developed a track record at BlackRock in building significant revenue through resilient Risk, IT,
The Cayman Islands Directors Association (CIDA) has welcomed the judgement of Justice Jones QC relating to the failings of directors of a hedge fund in the Grand Court in the Weavering Macro Fixed Income Fund Limited case (Weavering) issued on 26 August 2011. In particular the CIDA agrees that the Weavering case shows serious failings by the directors of Weavering and shows clearly the value of appointing professional independent directors.
Paul Harris the President of CIDA noted that the directors of Weavering were not located in the Cayman Islands nor were they members of CIDA. Harris pointed out that if
Some 75% of investors are looking for greater liquidity in their hedge fund investments following the financial crisis, according to the latest Preqin study.
Funds with lock-up periods are now considered less favourable amongst investors as they seek the flexibility to exit their investments at their own discretion.
Although some investors are prepared to compromise on their liquidity demands when offered more favourable terms in other areas, 34% place the priority on liquidity.
The study found that 30% of investors will not consider investing in funds with a lock-up period, and only 6% will invest in a vehicle with a
As the first generation of hedge fund leaders grows older, investors are increasingly exposed to key man risk and may be prudent to avoid an over-reliance on ageing star managers, according to the latest issue of aiCIO.
"All asset classes are vulnerable to key man risk, but this hazard is especially common at hedge funds," says aiCIO editor-in-chief Kip McDaniel. "Father Time slows down for no man, and it will be interesting to observe how well firms like Bridgewater, Moore Capital, Tudor Investment and Citadel ultimately survive their high-profile founders."
This sentiment is echoed by Fordham adjunct professor of Finance,
A federal court in Charlotte, NC, has entered an emergency order freezing assets held by defendants Toby D Hunter of Waxhaw, NC, and his companies, Prestige Capital Advisors, LLC (Prestige) and D2W Capital Management, LLC (D2W) of Charlotte, NC.
The court’s order, entered by Judge Max O Cogburn, Jr also prohibits the destruction of books and records and grants the CFTC immediate access to such documents. The judge ordered Hunter to appear in court on 3 October, 2011, for a preliminary injunction hearing.
The order arises out of a CFTC civil complaint filed on 6 September, 2011, in the US
Boston-based investment manager Windham Capital has teamed up with Krusen Capital, investment advisor to a single-manager and multi-manager hedge fund and private equity fund platform, to offer proprietary risk management and tactical asset allocation strategies to Krusen’s clients.
By adding Windham to its top-tier investment manager base, Krusen can offer clients robust strategies with the greater cost efficiency and liquidity afforded by Windham’s actively managed ETF portfolios.
“Given continued market volatility, our clients are increasingly seeking tactical asset allocation and are attracted to the efficient exposure offered by ETFs,” says Charles Krusen (pictured), CEO of Krusen Capital Management. “Our partnership with Windham
PineBridge Investments, the global multi-asset class investment manager, has launched a Euro-hedged share class for its PineBridge Merger Arbitrage Fund.
The fund, which is managed by PineBridge Managing Director, Lan Cai, offers transparent, absolute returns with simple, explainable alpha sources and daily liquidity. It has low correlation with both equity and bond markets and offers investors the opportunity to achieve consistent returns with relatively low volatility. The Fund, which was launched in December 2010 has achieved positive returns both in August and on a year-to-date basis.
“The aim of the Euro-hedged share class is to provide an alternative to
The Securities and Exchange Commission has charged a Corinth, Texas man with securities fraud for soliciting more than USD3.45 million from several thousand deaf investors in an investment scheme that the SEC halted last year.
The SEC previously charged Imperia Invest IBC with securities fraud and obtained an emergency court order to freeze the investment company’s assets.
In a complaint filed late yesterday, the SEC alleges that Dunn, who is deaf, solicited investments for Imperia over a three-year period from others in the deaf community, promising them he would invest in Imperia on their behalf. What Dunn did not tell
Hedge fund flows as measured by the GlobeOp Capital Movement Index advanced 2.27% in September.
“Net inflows for the month were the second highest this year, and the highest for September since the Index began in 2006,” says Hans Hufschmid (pictured), chief executive officer, GlobeOp Financial Services (LSE:GO.). “It could well be that in a zero interest rate environment and a challenging equity market, a diversified portfolio of hedge fund investments is becoming an ever more attractive alternative.”
The GlobeOp Capital Movement Index represents the monthly net of hedge fund subscriptions and redemptions administered by GlobeOp. This monthly net is
For the year to 31 August 2011, all Salus Alpha Funds clearly outperformed global equity markets in a difficult environment.
The Salus Alpha Commodity Arbitrage had a performance of +9.13% for the year , while the US S&P 500 Index lost 3.08%, and the German DAX30 index lost 16.33% in the same period. This is an outperformance against the S&P 500 Index of +12.21% and against the DAX 30 Index of +25.46%.
Other products managed by Salus Alpha performed as follows for the year to date until 8/31/2011:
Salus Alpha Commodity Arbitrage: +9.13%
Salus Alpha Equity Hedged: +6.34%
Salus
