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Returns for the Credit Suisse LAB Liquid Indices suggest that hedge funds experienced positive performance in March according to Jordan Drachman, Head of Research for Alternative Beta Strategies at Credit Suisse.
"The Credit Suisse Liquid Alternative Beta Index ("CSLAB"), which aims to reflect the return of the overall hedge fund industry, generated positive performance in March, finishing up 1.28% for the month," says Drachman (pictured). "All four LAB sector indices posted gains as managers profited from a number of diverse strategies which generated positive returns across both equity and credit markets. The LAB Event Driven Liquid Index remains the strongest
The Mexican Derivatives Exchange (MexDer), the derivatives subsidiary of the Mexican Exchange (Bolsa Mexicana BMV), the second largest exchange in Latin America, and CME Group have successfully launched their south-to-north connection, giving Mexican investors access to CME Group’s benchmark derivatives contracts including interest rates, foreign currencies, equity indexes, energy, metals and agricultural commodities.
“The direct, seamless order routing connection will make it possible to trade and route electronic orders on MexDer and CME Group, opening both their contracts to a broader range of traders,” says Luis Téllez, Chairman and CEO of BMV Group. “Our partnership with CME Group will
RAB Capital has launched two new UCITS III funds – the RAB Global Mining and Resources UCITS Fund and the RAB Gold and Precious Equities UCITS Fund. The funds will commence trading on 11 April 2011 with an initial size of USD100m across the two strategies: approximately USD70m (Global Mining and Resources) and USD30m (Gold and Precious Equities).
The RAB Global Mining and Resources fund will be launched with daily liquidity. It will follow the investment strategy of the Cayman-based RAB Global Mining and Resources Fund which has significantly outperformed mining indices since inception in November 2007. It will
A new pan-Channel Island law firm, Collas Crill, opened its doors this week following the merger of Jersey firm Crill Canavan and Guernsey’s Collas Day.
The merger creates a new 16-partner, full service Channel Island firm with around 150 staff.
With both firms already among the world’s top 20 offshore legal practices, Collas Crill becomes the leading Channel Island ’silver circle’ firm.
Collas Crill’s joint senior partners are Nuno Santos-Costa (pictured) in Jersey and Chris Bound in Guernsey.
Nuno Santos-Costa says: “We are delighted that Collas Crill has launched just four months after both firms agreed to merge.
“The creation
Active Alpha, the Switzerland-based trading-oriented equity long/short manager, has successfully continued delivering strong and uncorrelated performance since going independent six months ago.
“The rationale behind Active Alpha becoming an independent boutique was convincing in many ways, but most importantly, it allows us to be entirely focused on investment performance and fully align our interests with those of our investors. Recent research confirms our notion that being a smaller and very nimble investment manager is a characteristic that is increasingly sought after by many hedge fund investors”, says Active Alpha Chairman and CEO Daniel Schweizer.
Starting its fund in 2008 within
Medley Capital has acquired credit hedge fund manager Viathon Capital LP effective March 31, 2011. Medley, a registered investment adviser with USD1.4 billion of assets under management in private investment funds, hedge funds and Medley Capital Corporation (NYSE: MCC), provides capital and advisory services to middle market corporate and asset based borrowers in North America.
Viathon, founded in 2006 by Robert Comizio, invests in fundamental and event driven opportunities across the credit spectrum. Predominantly focused on companies in North America and Europe, Viathon identifies both long and short investments throughout an issuer’s capital structure. Prior to founding Viathon, Comizio
NYSE Euronext (NYSE: NYX) has received an unsolicited proposal from Nasdaq OMX Group, Inc (Nasdaq: NDAQ) and IntercontinentalExchange Inc. (NYSE: ICE) to acquire all outstanding shares of NYSE Euronext for a combination of USD14.24 in cash, 0.4069 shares of Nasdaq stock and 0.1436 shares of ICE stock per NYSE Euronext share.
Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, NYSE Euronext’s Board will carefully review the proposal. NYSE Euronext urges shareholders not to take any action with respect to the proposal.
NYSE Euronext’s financial advisers are Perella Weinberg Partners, BNP Paribas, Goldman,
In March 2011, the international derivatives exchanges of Eurex Group recorded an average daily volume of 11.8 million contracts (March 2010: 10.0 million). Of those, 8.7 million were Eurex Exchange contracts (March 2010: 7.1 million), and 3.1 million contracts (March 2010: 3.0 million) were traded at the US-based International Securities Exchange (ISE).
The significant growth of Eurex Exchange turnover is due to the increasing use of exchange-traded and centrally cleared derivatives in the current market environment, which was driven by high volatility and uncertainty. In total, 199.1 million contracts were traded at Eurex Exchange and 70.5 million at the ISE.
James Senior has been appointed acting Head of Marketing at Ignis Asset Management. James will be ably supported by Graham Miller who has been promoted to the role of Deputy Head of Marketing. James and Graham have vast experience, having worked in senior financial services marketing roles for in excess of 20 years and 10 years respectively.
Ignis has made a series of significant appointments over the past two years and has implemented a clear and focused strategy to establish the business as a leading asset management business.
Jonathan Polin (pictured), sales and marketing director, says: “I am delighted that
Fitch Ratings says in a new hedge fund sector update that stronger flows to hedge fund and absolute return strategies in 2010 should increase during 2011, as institutional investors seek diversifying sources of performance and downside risk protection.
In Fitch’s view, this post-crisis change is structural, partly driven by regulation changes which push institutional investors to take active risk while satisfying regulatory de-risking of their balance sheet, and by the general perception of market asymmetry (little to gain, more to lose).
Fitch considers that hedge funds and most absolute return strategies served their purpose in 2010 and Q4 2010
