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BlueCrest Capital Management has appointed Jaime Valdivia as head of global emerging markets research and strategy.
He joins from the Emerging Sovereign Group where he was a partner, portfolio manager and director of global macro research specialising in global sovereign credit and rates strategy.
He has previously been head of global emerging markets research at Morgan Stanley, and was the desk economist at the International Monetary Fund.
Mike Platt, chief executive of BlueCrest, says: “The breadth and depth of Jaime’s significant experience as a portfolio manager, strategist, and researcher, will be a great addition to our business. BlueCrest
AlphaMetrix has acquired Spectrum Global Fund Administration, creating an independent hedge fund platform with approximately USD20bn in client assets and more than 100 managers.
Terms of the acquisition were not disclosed.
With the acquisition, AlphaMetrix has also introduced the world’s first multi-administrator hedge fund platform, which allows investors to choose from a pre-approved list of administrators. Among the administrator options is AlphaMetrix360, formed by the acquisition of Spectrum and both firms’ proprietary technologies.
The integrated offering will lower platform costs to investors, providing a consolidated base cost for both platform and administration (including daily NAV calculation) of 20 basis points
The US Commodity Futures Trading Commission has obtained more than USD2.8m in restitution and civil monetary penalties in a federal judgment order against defendants Patrick J. Dailey of California and his company Strongbow Investments of Austin, Texas.
The order requires the defendants jointly and severally to pay more than USD1.95m in restitution and an USD850,000 civil monetary penalty.
The order also permanently bans Strongbow and Dailey from engaging in any commodity-related activity, including trading and registering with the CFTC.
The consent order, entered on 8 December 2010, by the Honorable Sam Sparks of the US District Court for the Western
Managed futures lost 1.08 per cent in November, according to the Barclay CTA Index compiled by BarclayHedge.
The index remains up 3.77 per cent for the year.
“As concern mounted regarding the possibility of inflation in China, war in Korea, and the dissolution of the Euro, investors decreased their risk exposures,” says Sol Waksman, founder and president of BarclayHedge.
Seven of Barclay’s eight CTA indices lost ground in November. The Barclay Agricultural Traders Index was down 1.87 per cent, financial and metals traders lost 1.56 per cent, diversified traders were down 1.53 per cent, and systematic traders slid 1.13 per
The US Commodity Futures Trading Commission has filed a complaint alleging registration violations against Vincent Patrick McCrudden of New York, Alnbri Management, and Managed Accounts Asset Management.
McCrudden was the owner and sole officer of New York-based Alnbri and MAAN. MAAM was dissolved in April 2009.
The CFTC complaint, filed in the US District Court for the Eastern District of New York, charges McCrudden with failure to register with the CFTC as an associated person of a commodity pool operator, acting as a commodity pool operator without being registered and failing to give notice of an inaccurate claimed exemption from
East Coast Fund Management has launched the East Coast Investment Grade Fund with Arrow Hedge Partners.
Similar to The East Coast Performance Fund, it will invest primarily in investment grade credit instruments of Canadian companies.
The fund’s investment objectives are to provide consistent absolute target returns between eight and 12 per cent while using hedging strategies to minimise systemic risk to capital at all times.
The fund enables investors to extract returns from credit exposure through fixed income assets, while avoiding the volatility of equity markets.
The fund is available on FundServ. It invests in investment grade credit securities and
BlueNext has launched trading of its first spot emissions reduction units contracts using Trayport’s GlobalVision Exchange Trading System.
The launch of spot ERU trading comes on the back of two ERU auctions BlueNext held in January and September this year.
BlueNext trades three types of environmental contracts: EUAs, CERs and now ERUs. It has used Trayport’s GlobalVision Exchange Trading System since 2008.
BlueNext held the first-ever auction of 400,000 tons worth of ERUs in January. ERUs are created when companies invest in greenhouse gas reduction targets under the Kyoto Protocol.
“The exchange decided to implement secondary auctions and make spot
Deutsche Bank and Paulson have launched a Ucits compliant version of Paulson’s flagship Advantage fund.
The Ucits fund, called the DB Platinum IV Paulson Global Fund, has been launched on Deutsche Bank’s Platinum platform.
The fund is linked to the performance of a synthetic managed basket, the components of which are selected by Paulson in accordance with an adapted version of its Advantage strategy, modified to comply with Ucits regulations.
The basket follows the core strategy of event arbitrage including event situations such as mergers, distressed and special situations on the long and/or short sides and through both debt and
The latest Preqin survey shows that the number of hedge fund investors expressing an interest in seed investments has almost doubled, from 11 per cent in 2009 to 21 per cent in 2010.
Investors feel that the benefits of investing in these funds, such as fund ownership, fee negotiations and early access to the next generation of hedge funds, far outweigh the disadvantages in the current climate.
Seed investments are also evolving post-crisis, as investors award seed capital to more established vehicles that may have encountered fundraising difficulties or lost assets through the crisis.
Investors are setting higher barriers to
Institutional investors overwhelmingly believe the euro area will be able to avoid a “full-fledged crisis,” according to Barclays Capital’s inaugural Global Macro Survey.
More than 2,000 institutional investors from around the world, including hedge funds, money managers, proprietary trading and corporate trading desks responded to the survey.
Only four per cent of clients surveyed believe that a euro area crisis and break-up of the euro currency is a likely outcome, and more than 50 per cent of respondents said that the impact of the sovereign debt crisis on the euro over the next quarter will be modest.
Despite this, concerns
