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The Chartered Alternative Investment Analyst (CAIA) Association, the sponsoring body of the only globally recognised designation for alternative investment expertise, has appointed Andrew Baker – CEO of the Alternative Investment Management Association (AIMA) – to its board of directors.
The CAIA Association also announced the election of board member Thomas Schneeweis as the new board chair. Schneeweis is the Michael and Cheryl Philipp Professor of Finance at the Isenberg School of Management at the University of Massachusetts in Amherst, Massachusetts, and founding Director of the Center for International Securities and Derivatives Markets (CISDM) at the Isenberg School. He fills the
Cayman Finance Chairman Anthony Travers, OBE has stepped down from his post after two years in office.
According to Cayman Finance, Travers want to spend more time attending to his other business ventures and with his family. During this transitional period, the remaining board members will share directional responsibilities, and an interim Chairman is expected to be announced imminently. Further announcements will be made in due course.
“I was asked to take on the role at a time when our public relations were at a low ebb," says Travers. "At the time the UK and US Governments were extremely hostile to the Cayman
The Hennessee Hedge Fund Index advanced 0.65% in January according to the latex figures released by the hedge fund adviser. In comparison the S&P 500 advanced 2.26%, the Dow Jones Industrial Average increased 2.72%, and the NASDAQ Composite Index climbed 1.78%.
Bonds also advanced, as the Barclays Aggregate Bond Index increased 0.12% and the Barclays High Yield Credit Bond Index advanced 2.21%.
“Hedge funds had a decent start to the year as the environment for stock picking improved. Some managers struggled to produce profits as short portfolios detracted from performance,” says Charles Gradante, Co-Founder of Hennessee Group.
The Lyxor Hedge Fund Index remained flat through January 2011. The top performing strategies over the month were Lyxor Merger Arbitrage Index (1.37%), Lyxor L/S Equity Long Bias (1.09%), and Lyxor Convertible Bonds & Volatility Arbitrage (1.03%).
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.
Advent Software’s Tamale RMS research management solution (RMS) – part of the firm’s Advent suite – continues to expand its leadership across a diverse range of market segments and geographies.
In 2010, Advent added new Tamale RMS clients globally and across numerous market segments, including asset management firms, wealth management firms, pensions, foundations, endowments, sovereign wealth funds, hedge funds, fund-of-funds and family offices. In addition to growing its hedge fund client base substantially throughout the year, Tamale’s client base among asset managers, wealth managers, institutional investors and multi-manager funds had increased from 10% to 45% since Advent’s acquisition of Tamale in
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
