Latest News
While the economy remains a concern, hedge fund CFOs say addressing new regulatory requirements and meeting evolving investor expectations are the biggest challenges for 2011, according to a poll by SEI.
The poll, conducted recently at the company’s annual Hedge Fund CFO Forum, revealed that half of the CFOs attending the forum felt that addressing new regulatory requirements is the most significant challenge facing their industry over the next 12-18 months, while more than a third (39 per cent) see economic uncertainty as their biggest challenge.
The poll also revealed an ongoing shift in investor expectations, as 40 percent
The turn of the year saw the CHF hit record highs. The trade-weighted exchange rate was up 15% in 2010, and is 30% higher from the start of the financial crisis in October 2007. Paul Marson (pictured), chief investment officer at Lombard Odier Darier Hentsch, examines the factors driving this upwards run.
The most obvious explanation lies in the safe haven features of the CHF, brought to the fore again by the financial crisis, and by European debt issues in particular. This haven status is not a given, but the result of a long history of geopolitical stability and financial
Alternative fund administrator HedgeServ has partnered with Hedge Fund Research (HFR) to provide clients access to the HFR Database within the HedgeServ platform.
HFR specialises in the areas of indexation and analysis of hedge funds. Its flagship product, HFR Database, comprises over 6,600 funds and funds of hedge funds and contains over 70 fields of information on the funds, including historical monthly performance, historical fund assets under management, enhanced fund leverage reporting, firm contact details and fund fee structure.
HedgeServ’s fund of hedge fund clients will be able to seamlessly combine their fund’s portfolio performance data with HFR’s data, giving
New York-based commodities trading advisor Quest Partners has appointed Nigel Ekern as its President.
Ekern joins Quest with over 13 years experience managing alternative investment firms and will oversee operations and business development.
“This is an exciting time for Quest given the addition of Nigel to the senior management team," says Quest’s CIO and founder Nigol Koulajian. "Nigel brings to Quest his broad experience and technical skills that deepen the senior management pool and we are very optimistic about the growth of Quest in the coming years.”
Prior to joining Quest, Ekern was the COO and co‐founder of Noroton Capital Management LLC, a Connecticut‐based hedge fund. Previously, he practiced law with Debevoise & Plimpton before becoming an investment banker and then a partner with an alternative investment advisor.
Ekern holds a JD‐MBA degree from New York University and an AB from Dartmouth College.
Pacific Investments, the private investment vehicle of Sir John Beckwith, is establishing a new absolute return fund management business. Rod Barker, formerly a partner at International Standard Asset Management with Stanley Fink, is joining the new venture as partner and CEO.
The new business, set to launch at the beginning of Q2 2011, will focus on absolute return strategies which will offer returns uncorrelated with traditional asset classes.
“Rod brings with him considerable experience, intellectual capital and a proven track record in the hedge fund industry," says Mark Johnson (pictured), CEO of Pacific Investments. "Having developed successful fund management businesses
Paris-based M&A investment manager, Bernheim, Dreyfus, has unveiled research designed to uncover possible or potential bid targets during 2011. Among other names, the luxury jeweller Tiffany and software company, Adobe Systems, are seen as being particularly attractive.
Tiffany & Co is a jewellery and specialty retailer whose principal merchandise offering is fine jewellery and except its one Tiffany brand its portfolio also consists out of the Elsa Peretti, Frank Gehry, Paloma Picasso and Jean Schlumberger brands. Tiffany with sales of USD2,7 billion in 2009 is operating worldwide but with greatest presence in America and Japan totalling together 70% of sales.
Melody Bryant has joined the CL Kempner Asset Management as a principal to work alongside founder and managing partner Carl Kempner to ramp up the firm’s long/short equity hedge fund platform.
Together, Kempner and Bryant plan to expand the firm, which began as a family office and now has a 20+-year track record of aggressive capital preservation on behalf of high net worth individuals and institutions.
“Through the years, we have worked diligently to meet the investment requirements of many of our family members and friends," says Kempner. "Now, the time is right to capitalize on market inefficiencies
Geo Genesis Group Limited, an advisory and investment company focussed on China and other emerging markets, has appointed Philippe Allain, the Member-Manager of Chilly Hill Investments as Vice Chairman of its Advisory Board.
Geo Genesis had previously signed a strategic cooperation agreement with Chilly Hill to market and provide services to Brazilian based companies.
Allain has 13 years of sales trading and banking experience in the financial services industry. Most recently, he was the Managing Director and Head of Mergers and Acquisitions Arbitrage at Tullett Prebon Americas Corp. Previous to this, Allain was head of the Risk Arbitrage Group at
The hedge fund industry posted an estimated inflow of USD13.0 billion (0.8% of assets) in November 2010, the fifth straight inflow as well as the heaviest since February 2010, according to the latest figures released by TrimTabs Investment Research and BarclayHedge.
“The year ahead looks bright for the hedge fund industry,” says Sol Waksman, founder and President of BarclayHedge. “Hedge funds returned 11.6% in 2010, and investors continue to pump money into the space. Additionally, we suspect pension managers will need to chase active returns because plans are underfunded and market yields are far too low to get the job done.”
Equity
The Hennessee Hedge Fund Index advanced 3.04% in December (+10.05% YTD), while the S&P 500 increased 6.53% (+12.79% YTD), the Dow Jones Industrial Average advanced 5.19% (+11.02% YTD), and the NASDAQ Composite Index increased 6.19% (+16.91% YTD).
The Barclays Aggregate Bond Index declined 1.08% (+6.56% YTD) while the Barclays High Yield Credit Bond Index advanced 1.81% in December (+15.11%). Global financial markets finished 2010 on a positive note as global equity, commodity and credit markets all strengthened in December.
“Hedge funds experienced their best monthly gain of the year, advancing +3.04% in December. The strong month drove hedge
