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The Lyxor Hedge Fund Index recorded a positive performance of 1.10% in February 2011.
The top performing strategies over the month were Lyxor L/S Equity Variable Bias Index (2.30%), Lyxor Special Situations Index (1.88%), and Lyxor L/S Equity Market Neutral index (1.59%).
The ‘Lyxor Hedge Indices’ are investable, asset-weighted hedge fund indices. They are based on Lyxor’s hedge fund platform that covers all the major hedge fund strategies and benefits from a high level of transparency and risk control, while ensuring weekly liquidity
Early estimates indicate the Dow Jones Credit Suisse Hedge Fund Index continued to rally in February, posting positive performance of 1.44% for the month (based on 72% of assets in the index reporting).
In all , eight out of ten sectors posted positive performance for the month. Managed Futures hedge funds posted positive performance for the month finishing up 2.56%. Trend followers in the commodities space posted the strongest gains in the energy and precious metals sectors.
Managers in the Event Driven space posted another month of positive performance in February, up 1.59% as an increased number of opportunities in
Reviva Capital has achieved EUR1.5 billion of assets under management in less than one year of trading. These assets involve over 400 individual loan contracts, made up of both corporate loans to professional real estate investors (75%) and loans to individuals (25%).
Reviva Capital’s assets are primarily made up of non core or distressed exposures held by large European banks and financial institutions. Over EUR350 million of client loan exposures have now been taken under direct shareholder control.
Reviva Capital’s active approach to work out management has resulted in a dramatic charge in the ratio of performing to non
Long/short equity strategies look set to benefit from decreasing levels of correlation between securities, according to funds-of-hedge-fund (FOHF) managers interviewed by Standard & Poor’s Fund Services in its latest sector update.
“As correlation falls, FOHF managers are anticipating that underlying hedge fund managers will be able to generate more alpha through dispersion in industries and names,” says S&P Fund Services lead analyst, Randal Goldsmith. There was a strong recovery of long/short equity hedge fund managers in September last year, mainly due to the strength of underlying equity markets. In fact, for many of the more directional funds, it proved
Hedge fund managers have turned bearish on US equities, according to the TrimTabs/BarclayHedge Survey of Hedge Fund Managers for February. About 40% of the 89 hedge fund managers the firms surveyed in the past week are bearish on the S&P 500, up sharply from 26% in January, while only 26% are bullish, down from 37%.
“Bullish sentiment less bearish sentiment is negative for the first time since November,” says Sol Waksman, founder and President of BarclayHedge. Increased caution might owe in part to excellent recent performance. The Barclay Hedge Fund Index has posted a positive return for six straight months.”
MF Global Holdings Ltd (NYSE: MF), a broker-dealer providing trading and hedging solutions, has made several appointments within the firm’s senior management team. Bradley Abelow, the firm’s current global chief operating officer (COO), will assume the additional role of president, while Henri Steenkamp, the firm’s current chief accounting officer and global controller, has been appointed chief financial officer (CFO).
Steenkamp will succeed Randy MacDonald, who has served as CFO for the past three years and was recently appointed global head of the firm’s retail operations.
“This is a critical time for MF Global as we transform our business to better
EU policymakers should consider the economic impact of potential restrictions on credit default swaps in sovereign debt. That’s according to the Alternative Investment Management Association (AIMA), the global hedge fund association.
The warning comes ahead of a key vote in the European Parliament’s Economic and Monetary Affairs Committee today, which is expected to consider amendments imposing severe restrictions or bans on uncovered (or ‘naked’) credit default swaps in sovereign debt.
AIMA CEO Andrew Baker says: “AIMA fully supports the reform of the derivatives markets, including the introduction of central clearing of OTC derivatives, greater transparency as well as full
Hennessee Group’s Hedge Fund Index advanced 1.39% in February (+2.08% YTD), while the S&P 500 advanced 3.20% (+5.53% YTD), the Dow Jones Industrial Average increased 2.81% (+5.61% YTD), and the NASDAQ Composite Index climbed 3.04% (+4.87% YTD). Bonds advanced, as the Barclays Aggregate Bond Index increased 0.25% (+0.70% YTD) and the Barclays High Yield Credit Bond Index advanced 1.31% (+3.55% YTD).
“Global equity markets posted gains for February despite heightened volatility from the civil unrest in the Middle East and North Africa. Managers benefited from modest net long exposure, but overweight exposure to cyclicals, shorts and hedges detracted from performance,”
The US Commodity Futures Trading Commission (CFTC) has obtained a federal court order imposing more than USD46.9 million in restitution and civil monetary penalties on Robert D Bame of Moreno Valley, Califonia, and his firm, Forward Investment Group, LLC (Forward) of Santa Monica, California. The order requires the defendants to pay restitution of USD16,038,568.68 and a USD30,887,006 civil monetary penalty for commodity pool fraud.
The order, entered by Judge R Gary Klausner of the US District Court for the Central District of California, stems from a CFTC complaint filed on August 26, 2008. The CFTC complaint charged Bame and Forward
Man has been awarded a managed account mandate for initially EUR1.2 billion by Bayerische Versorgungskammer (BVK), Germany’s largest public pension fund with more than EUR50 billion in assets.
Under the agreement, BVK will start allocating funds over the course of 2011. BVK will gain access to Man’s managed account capabilities, with the benefits of increased transparency, liquidity and control which managed accounts offer. Man, which has more than a decade’s experience in managed accounts and has grown managed account assets to over USD8.7 billion[1], will provide services with regards to operational due diligence, manager take-on and risk management oversight
