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Investors expect more than USD185 billion to flow into UCITS III absolute return funds in the next twelve months, according to a Deutsche Bank survey of the industry. Using current estimates that USD140 billion is under management in UCITS III absolute return funds, the survey indicates the size of the sector will double in the year ahead.
The survey, conducted by the Deutsche Bank Hedge Fund Capital Group, indicates the industry will grow significantly, with allocations to all UCITS strategies remaining high. The bank surveyed 184 investor entities, representing more than USD2.1 trillion in assets. These wealth managers, insurance companies,
361° Capital, an investment management firm focused historically on managing alternative investments for institutions, announced today the launch of its first mutual fund, the 361° Absolute Alpha Fund.
The 361⁰ Absolute Alpha Fund is a multi-manager Long/Short equity fund that is designed with the intent to provide capital appreciation with low volatility and low correlation relative to the broad domestic and foreign equity markets. The 361⁰ Capital Absolute Alpha Fund offers investors access to both high alpha producing external managers and an overlay of historically successful risk management techniques which seek to hedge against downturns in the equity markets.
The
By Chris Cattermole – The hedge fund industry is experiencing change as a result of money from pension funds and other institutions flowing back into the market. In the past this money would go principally to large firms with upward of USD5bn in assets under management, but in the current environment mid-tier to large managers with lower asset totals are also starting to benefit.
Investors are increasingly open to the prospect of better returns from this class of manager, especially those firms that have reinvented themselves over the past couple of years in the wake of the financial crisis and
By Simon Gray – No-one is ready to say that the good times have returned for London’s hedge fund industry, but professionals say the sector is definitely on the mend after the traumas of the past three years, when a near-across the board slump in performance and a resulting wave of investor redemptions sent the industry worldwide assets plunging by at least 30 per cent (possibly more) from peak to trough. Today the trend remains resolutely in the other direction.
Although up to date statistics are lacking and in some respects verge on the anecdotal, and the recent trend toward
By Simon Dinning – The past year, like the two or three before it, has been a difficult one for the hedge fund industry in London, but there are signs of positive activity as the number of new fund launches continues to increase. A significant forward stride has brought some resolution on one of the industry’s biggest headaches over the past two years, the European Union’s Directive on Alternative Investment Fund Managers. While not perfect, it is in much better shape than many dared hope.
Last year started slowly in terms of new fund creation, but picked up significantly in
By Simon Gray – After a year in which some reports suggested that London’s hedge fund industry was about to up sticks and move en masse to Switzerland, there are still few signs that the city’s dominance within Europe is coming to an end. The number of actual departures so far is small even if some of the names involved have been high-profile; meanwhile the ranks of the industry are being swelled by a surge of start-up operations launched by individuals exiting existing asset managers or the proprietary trading desks of investment banks.
But professionals caution that while London’s continuing
Swiss Precious Metals, a joint venture between Euroasia Investment SA, managed by Yves Bouvier, and Palaedino Group SA, directed by Leonardo Castellana is launching a new programme for the trade in and storage of precious metals at the new free ports in Singapore (the Singapore FreePort).
This is an innovative and unique solution which is aimed at offering the best protection for their clients’ wealth.
Located in a bunker at the heart of The Singapore FreePort, Swiss Precious Metals’ strong rooms are designed for the storage of physical gold. Offering 24-hour, 7 day-a-week access, these strong rooms have been constructed
NYSE Euronext (NYX) has reported net income of USD135 million, or USD0.51 per diluted share for the fourth quarter of 2010, compared to net income of USD172 million, or USD0.66 per diluted share for the fourth quarter of 2009.
Results for the fourth quarter of 2010 and fourth quarter of 2009 include USD18 million and USD43 million, respectively, of pre-tax merger expenses and exit costs as well as the impact of the requisite reversal of discrete tax reserves. Excluding the impact of these items, net income in the fourth quarter of 2010 was USD120 million, or USD0.46 per diluted share, compared
The HFRI Fund Weighted Composite Index gained 0.29% for the month of January with the most significant contributions coming from Event Driven and Relative Value strategies.
A combination of civil unrest in Egypt and higher reserve requirements at Chinese banks contributed to weakness across Asian and Middle East equity markets. US rates rose as the yield curve steepened on improving consumer data, while the US dollar declined against most European currencies. Commodities, notably energy and agriculturals, were generally higher for the month, with the notable exception of gold and silver, which declined.
Event Driven strategies had the most significant positive
Global law firm K&L Gates LLP has added Martin Cornish as a partner in the financial services practice of the firm’s London office. Cornish joins K&L Gates from Katten Muchin Rosenman Cornish LLP, where he served as managing partner.
A vastly experienced investment management lawyer with a focus in the international financial services area, Cornish advises hedge funds, commodities and derivatives brokers and dealers, banks, and investment banks and managers on a variety of matters involving funds, financial services regulation, and derivatives. Previously, he was head of PricewaterhouseCoopers’ Landwell financial services network of law firms, European legal director to a major
