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The Dow Jones Credit Suisse Core Hedge Fund Index finished down 1.95% in June, according to the latest results for the index.
Oliver Schupp, President of Credit Suisse Index Co, LLC, says: "Headlines over Eurozone debt concerns dominated markets and set the tone for a second consecutive negative month of hedge fund performance in June. Overall, the Dow Jones Credit Suisse Core Hedge Fund Index lost 1.95% for the month.
"A lack of fundamentally driven trends hurt many managers, with Global Macro experiencing the most significant decline, falling 3.12%. Fixed Income Arbitrage was the month’s only bright spot. The sector
The US Commodity Futures Trading Commission (CFTC) today announced the release of two new data sets that add further transparency to commodity futures markets.
The new reports, entitled “Large Trader Net Position Changes” and “Trading Account Net Position Changes,” build on the CFTC transparency program initiatives. The data and explanatory notes, as well as average values for both measures, can be found on our website. The CFTC is providing this data to the public on a one-time basis.
“A core mission of the CFTC is to promote transparency,” says CFTC Chairman Gary Gensler (pictured). “The new data will provide the
A new heavyweight in the world of corporate compliance and reporting services has been created, following the merger at group level of TMF Group and Equity Trust. The two providers of global accounting, corporate secretarial and HR & Payroll services work for over 50% of the Fortune 500 companies.
The merged group will be known as TMF Group and have combined revenues in excess of EUR400m. With more than 100 offices, in over 75 countries, it will offer clients and intermediaries a broad range of cross-border services across the globe.
The new business will employ more than 4,000 people, made
The Chartered Alternative Investment Analyst (CAIA) Association, sponsor of the only globally recognised designation for alternative investment expertise, has entered an academic partnership with Cass Business School, which is part of City University London to prepare graduate students for careers encompassing alternative investments.
Through the partnership, Cass MSc in Investment Management students will have access to courses that cover 60 percent of the material required to earn the CAIA designation. In addition, students and faculty will have the opportunity to apply for CAIA exam scholarships.
"Cass Business School’s partnership with the CAIA Association is a great advantage to our students
Hedge fund managers have turned bearish on US equities, according to TrimTabs Investment Research and BarclayHedge. About 38% of the 87 hedge fund managers the firms surveyed are bearish on the S&P 500, up from 29% in May and the highest share since February. Only 27% of managers are bullish, down from 30% in May.
“Downbeat views on domestic stocks characterised the first half of 2011,” says Sol Waksman (pictured), founder and President of BarclayHedge. “Hedge fund managers were net bearish on the S&P 500 in four of the first six months of the year. The grim mood coincides with weak performance. The
Texas International Energy Partners Inc (TxIEP), a wholly owned subsidiary of Ecofin Energy Resources Plc (EER), has successfully secured its first commercial debt facility.
BNP Paribas, as sole lead arranger and bookrunner of the transaction, has agreed to provide a USD100 million credit line to TxIEP, which was formed through EER last year to acquire and develop shale gas properties in the US. Under the terms of the facility, TxIEP has the option to immediately draw down USD20 million of the loan, which will be used to bring more wells into production and finance future complimentary bolt-on acquisitions.
Bank of America Merrill Lynch has made four further senior appointments to its EMEA Global Markets Financing & Futures business in support of the continued build out of the company’s Global Prime Brokerage and other hedge fund-related businesses.
Daniel Katz has been appointed managing director and head of EMEA Stock Loan and Structured Marketing and Ross McDougall has been appointed as a director and head of EMEA Stock Loan Trading. Both Katz and McDougall will report into Rajeev Patel, head of EMEA Equity Finance.
Katz joins the company from Nomura where he was managing director and head of EMEA Structured
Ratinf agency Standard & Poor’s has awarded a "AA" rating to SEB’s True Market Neutral fund – the first Nordic fund of hedge funds to receive such a strong rating.
"This is a stamp of approval for the fund, which has delivered stable returns for our customers regardless of the development in the stock market," says Mikael Spångberg (pictured), head of the team at SEB that manages the fund.
S&P states in its ratings report that SEB "deserves credit for its highly disciplined application of the process as evidenced by achieving the fund objective throughout, and during periods in which
The Credit Suisse LAB Liquid Indices posted negative performance in June according to Dr Jordan Drachman (pictured), Head of Research for Alternative Beta Strategies at Credit Suisse.
"The Credit Suisse Liquid Alternative Beta Index ("CSLAB"), which aims to reflect the performance of the overall hedge fund industry, generated negative performance in June, finishing down 0.58% for the month," says Drachman. "Of the five LAB Liquid Indices, Event Driven saw the most significant decline, finishing down 1.43% as equity markets continued to fall amid uncertainty regarding Greek Debt." Drachman continued, "June also marked the three year anniversary of our Long/Short Liquid
Allonhill, an independent third-party review firm specialising in mortgage due diligence and credit risk management, has appointed Jennifer LeSueur as managing director of due diligence.
LeSueur, a 25-year mortgage industry veteran, is responsible for overseeing Allonhill’s private-sector due diligence operations.
“Jennifer will be a key factor in prepping Allonhill’s due diligence operations for growth as securitizations reemerge,” says Sue Allon, Allonhill CEO and founder. “Her extensive industry experience coupled with her proven ability to improve operational processes will be critical to our success.”
LeSueur brings more than 25 years of experience in the mortgage banking industry. Most recently,
