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Tim Wannenmacher, Nomura’s Hong Kong-based global head of prime services, has sensationally left the bank just days after outlining aggressive growth plans fo
UK bank, Standard Chartered, with its strong focus on emerging markets, has made a strategic move in Malaysia that will allow it to offer Shariah-compliant derivatives c
Asian hedge fund manager, Orchard Capital Partners Ltd, has seen assets in its Orchard Gemini Fund, which began trading January this year, catapult from USD7millio
Stenham Asset Management says Stenham Global Resources was ranked number eight in the Top 10 Performing Fund of Hedge Funds category for October 2010 by BarclayHedge.
Stenham Global Resources, a fund of hedge fund, focuses on commodity related sectors such as water, agriculture and soft commodities.
The long biased fund of hedge fund is a concentrated portfolio of ten to 15 managers with a target return of Libor plus six to eight per cent and volatility of eight to 11 per cent per year.
The fund was launched in 2006.
Jaspal Phull, portfolio manager, says: “Continued global demand for resources
AIS Fund Administration has launched AIS IR Manager, a secure document management and investor relations web portal designed expressly for the firm’s hedge fund clients.
AIS Fund Administration provides outsourced middle and back office support and fund administration to the alternative investment industry.
The AIS IR Manager allows managers to post fund documents, newsletters and marketing materials.
IR Manager is hosted by both the hedge fund manager and AIS on a restricted, password protected website.
Financial statements are uploaded directly by AIS to ensure that all information is secure and confidential. Managers are able to authorise their investors and prospects
The Ucits HFS Index was positive in the third week of December, adding an additional 0.34 per cent to its monthly performance.
All of the 11 strategies were positive, although for four strategies the gains were not enough to turn their negative December performance around.
The strategies with the best weekly performance were fixed income (+0.61 per cent), currency (+0.59 per cent) and multi strategy (+0.46 per cent).
From a year to date perspective the broad Ucits HFS Index now stands at +4.89 per cent.
Prices on the hedge fund secondary market remain volatile, according to the latest data from Hedgebay.
A lack of price stability has been the recurring theme of 2010, evidenced once again when the average trade price dropped to 74 per cent in November after registering the highest average in six months during October.
October’s high of 81 per cent was the third time in a row the index had risen, suggesting that consistency might slowly be returning to the market after a turbulent year. However, the drop shown in November has cast doubts over that theory, with the volatility
Kohlberg Kravis Roberts has appointed Kaveh Samie as managing director and head of Middle East and North Africa.
Previously, Samie was a managing director and head of equities for HSBC Middle East & North Africa.
The appointment takes effect on 6 January 2011.
Samie will work closely with Ford M. Fraker, chairman of KKR Middle East and North Africa, to expand the firm’s presence in the region.
“Kaveh has spent 25 years developing global and local equity platforms and building a strong network of relationships in the Middle East and North Africa. His close ties to investors, as well as
The Securities and Exchange Commission has charged two San Francisco-based investment adviser firms along with their former chief executive, former general counsel, and former portfolio manager with defrauding investors in a USD100m hedge fund that invested in sub-prime automobile loans.
The SEC found that chief executive Benjamin P. Chui and portfolio manager Triffany Mok – who managed the American Pegasus Auto Loan Fund – together with general counsel Charles E. Hall, Jr., engaged in improper self-dealing, misused client assets, and failed to disclose conflicts of interest.
The firms – American Pegasus LDG and American Pegasus Investment Management –and Chui, Hall,
Turkey was the worst performing country in the Middle East, North Africa and South Asia in November, dropping by 9.7 per cent, according to a report by Menasa Capital Management.
Turkey was followed by Dubai at -5.4 per cent.
Turkey’s underperformance versus emerging markets during November occurred as many investors booked their gains in the midst of de-risking in global capital markets.
Dubai lost all of its October gains as regional investors reduced risk in their portfolios. Recent trading activity in the UAE has been dominated by short-term horizons as macro challenges continue to weigh on the financial sector.
Pakistan
