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The Blue Ink Composite (BIC), which tracks the performance of around 100 Hedge Funds in South Africa, reported a steady 2.11% increase for the second quarter of 2011. The BIC outperformed the JSE All Share Index (ALSI) by 2.72%, which returned -0.61% over the same period.
According to Eben Karsten (pictured), portfolio manager at Blue Ink Investments, the second quarter of 2011 was another difficult quarter for the local equity market. “Risk aversion increased sharply over the three months to June, with global growth and debt concerns in peripheral Europe leading to widespread market volatility," says Karsten.
The local
BNY Mellon Clearing has joined CME Group as a clearing member firm in order to clear over-the-counter interest rate swaps on behalf of its institutional clients.
As a result of recent regulatory changes, it is expected that a large percentage of derivatives transactions will be cleared through central clearinghouses. The Dodd-Frank Act passed in the United States last year mandated clearing of “standardised” OTC derivatives.
"The standardisation of OTC derivatives and migration to central clearing should reduce counterparty credit risk and allow better regulatory oversight," says Sanjay Kannambadi, CEO of BNY Mellon Clearing. “By joining CME Group as a clearing member for
A federal court in California has entered an order freezing the assets of defendants Douglas Elsworth Wilson of Poway, California, and three California companies that he controls and manages, Elsworth Berg Capital Management LLC (EBCM), Elsworth Berg Inc, and Elsworth Berg FX LLC (collectively, Elsworth Berg). The order also prohibits the destruction of their books and records.
The order arises out of a CFTC civil complaint filed on July 27, 2011 in the US District Court for the Southern District of California. The complaint alleges that the defendants solicited at least USD4.4 million from over 60 customers to trade commodity
Ogier Fiduciary Services Cayman Limited (OFSCL) has announced a new management structure designed to allow its leadership team to focus and develop capabilities for specific lines of business and build even deeper partnerships with clients.
“The growth and diversification of the fiduciary services business and Ogier Cayman overall has required us to look at our operating philosophy and structure in terms of current and prospective client needs,” says Colin MacKay, Group Director, Ogier Fiduciary Services. “The changes we’re announcing today reflect client demand for specialised capabilities across our lines of business and put us in an excellent position to capitalise
Fund administrator HedgeServ has expanded its international platform with the opening of an office in London on 22 August.
The office, located at 21 Upper Brook Street, W1, will focus on business development with hedge funds, funds of hedge funds, private equity funds, and institutional investment managers.
"Our entry into London reflects our commitment to answering the global demand for HedgeServ’s innovative, high-quality fund administration services," says Justin Nadler, president of HedgeServ. "We are well-positioned to deliver local expertise to clients through our growing London presence and our established Dublin office, with 250 experienced fund accounting, middle-office operations, and investor
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
