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The Morningstar MSCI Composite Hedge Fund Index, an asset-weighted composite of nearly 1,000 hedge funds in the Morningstar hedge fund database, rose 1.1% in July, outpacing the S&P 500’s 2.0% decline for the month.
“Global equity markets struggled in July as the United States approached the debt ceiling deadline and as concerns regarding the European debt crisis deepened,” says Terry Tian, alternative investment analyst for Morningstar. “Yet many hedge fund strategies delivered positive returns for the month.”
Trend-following strategies posted the largest gains in July, as gold prices advanced to new highs and US Treasuries continued to rally. The Morningstar
The Dow Jones Credit Suisse Hedge Fund Index finished up 0.69% in July compared to a loss of more than 2% for the Dow Jones Industrial Average Total Return Index.
Six out of ten strategies posted positive performance for the month. Conversely, the Dow Jones Industrial Average Total Return and Dow Jones Global Indexes fell 2.05 and 1.66% respectively;
Managed Futures was the best performing sector in July. The strategy gained 4.03% as managers capitalised on momentum in the short-term-rates and bond markets.
The Long/Short Equity sector continued to experience negative performance as market reaction to macro events overshadowed the
Triton Capital Advisors a provider of managed futures investments and research services has appointed Ryan Mitchell as Senior Vice President.
Mitchell will partner with the Triton team to service and meet the alternative investment needs of sophisticated investors, family offices and registered investment advisors.
"Ryan’s extensive background in the alternative investment space will enhance Triton’s commitment to serving the goals of our clientele," says Richard Singer, Managing Director and Chief Investment Officer of Triton.
Mitchell has over 11 years of experience in the alternative investment space. Most recently he was Senior Vice President of HedgeCo Securities, where his responsibilities included
HedgeMark International has named Richard F Brueckner, a Senior Executive Vice President and member of the Executive Committee of BNY Mellon and Chairman of Pershing LLC (Pershing), as non-executive Chairman.
In his role as Chairman, Brueckner will work with the board and HedgeMarkʼs management to establish best practices and ensure proper integration with relevant BNY Mellon and Pershing operating groups.
BNY Mellon, through its Pershing affiliate, is a significant shareholder in HedgeMark, having made an initial non-controlling investment in the firm earlier this year with an option to fully consolidate its ownership over a five-year period.
“HedgeMark has established a
On 25 July, India raised its repo and reverse repo rates by 50bp and is likely only one or two rate rise away from the top of the cycle. This is important because this means that while the rest of Asia faces one to two years of rate hikes, India stands alone in being close to the end of their rate rise cycle, according to Dylan Tinker of Venus Capital Management…
As a result, we believe India will look like a relatively attractive equity market in Asia by the end of the 3Q, 2011. By this time, India will no
Fischer Francis Trees & Watts (FFTW), the global fixed income partner of BNP Paribas Investment Partners, has promoted Kenneth O’Donnell, CFA, to Head of Short Duration. He will be responsible for performance, growth and development of short duration strategies firm wide. FFTW’s short duration capabilities include global and US short duration, stable value and absolute return strategies.
Guy Williams, FFTW’s Chief Investment Officer, says: “Over the past decade, Ken has been key in building FFTW’s short duration business. He brings a wealth of experience building short duration track records, working with institutional clients and managing investment professionals. We are confident
SEI has launched new tools designed to assist investment managers in meeting mandatory requirements under the Undertakings for Collective Investment in Transferable Securities IV (UCITS) Directive. SEI has developed an online solution to simplify the production and servicing of the required Key Investor Information Document (KIID), while also enhancing its portfolio compliance monitoring system to account for UCITS-specific investment restrictions.
Under the UCITS IV Directive, asset managers will be obligated to replace their current simplified prospectus with a KIID for their UCITS products. The introduction of the KIID is aimed at promoting transparency and uniform standards across EU member states,
For Keith Skeoch (pictured), CEO of Standard Life Investments, the IIC Advisory Council is an opportunity to show collective engagement on stewardship. In an industry dominated by fragmented opinions and viewpoints, he believes it’s important that the agreed views of the council are clearly communicated through effective representation.
“The IIC is a coming together of industry bodies including the IMA, NAPF, ABI. It’s a channel for senior industry figures through which we are able to represent not only the industry on major topics, but our clients and customers as well,” Skeoch tells Hedgeweek.
With such pervasive disagreement amongst member states
Germany’s Federal Financial Supervisory Authority (BaFin) has approved a tax agreement between Switzerland and Germany that will give Swiss securities funds (SSFs)
Morgan Stanley’s Dublin-based UCITS umbrella, FundLogic Alternatives Plc, has added another new fund to its stable.
