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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
Union Bancaire Privée has appointed Philippe Broadhead as head of sales – UK in its asset management division.
Broadhead brings with him vast experience of the UK investment market, having spent over 20 years working with a wide variety of clients.
Prior to joining UBP he held a number of high-profile positions over the course of eight years at Legal & General Investment Management, including head of UK institutional distribution, head of hedge fund distribution and head of multi-manager investments.
Before working for Legal & General he held business development roles at Friends Ivory & Sime and Friends Provident.
Collateral secured certificates from Switzerland are now tradable on Scoach, the Frankfurt exchange for structured products.
The collateral deposited for these collateral secured instruments (COSI) minimises counterparty risk for structured products.
COSI enables investors to protect themselves against the possibility of issuer insolvency.
The issuer EFG Financial Products is offering COSI for the first time in Germany, exclusively on the Scoach trading platform. A total of 17 COSIs are currently tradable on Scoach in Frankfurt; the volume invested thus far amounts to EUR61.5m.
For COSI, the issuer deposits collateral in the form of securities or cash at Swiss custodian SIX
Financial Risk Management, a hedge fund investment firm with offices in Europe, Asia, North America and Australia, has hired George Yepes as managing director, head of North American business development.
Yepes will work with FRM’s New York and global investment and client teams in managing and developing relationships with consultants, institutional clients, financial institutions and high net worth investors in the US and Canada.
Previously, Yepes was managing director and head of US Distribution and client relationship management at Man Investments, and until 2009 he was head of North American sales for Gottex Fund Management.
Clive Peggram, deputy group
Lyxor Asset Management has hired Nicole Sivel to expand its operational due diligence capabilities.
Sivel will assume a senior role within the operational due diligence team, focusing on the review and evaluation of all operational aspects related to potential and existing hedge fund investments.
Prior to joining Lyxor, Sivel was co-head of operational due diligence for Neuberger Berman Alternative Investment Management.
From 2007 to 2009, she was an associate on the operational due diligence team for Lehman Brothers Alternative Investment Management.
Prior to joining Lehman Brothers, Sivel held various risk management and infrastructure roles at investment consulting firm Veritable from
UMB Fund Services, a subsidiary of UMB Financial, has been selected to provide registered hedge fund services to Gottex Fund Management.
UMB Fund Services has developed and enhanced its service offering for registered hedge funds over the past several years.
The offering combines UMB Fund Services’ capabilities in the registered fund space with the unregistered hedge fund expertise of its alternative investments division, JD Clark.
Gottex is introducing a new line of registered alternative investment products that will be offered to the general public on US retail distribution platforms beginning in December.
UMB Fund Services has been selected to provide
Hedge funds gained 0.56 per cent in November, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
The index is up 7.75 per cent year-to-date.
“Hedge funds appear to be on their way to another profitable year,” says Sol Waksman, founder and president of BarclayHedge. "The Barclay Hedge Fund Index has had consistent gains in 13 of the past 14 years. The single losing year was a 23.53 per cent loss in 2008 when global stock markets collapsed."
Fourteen of Barclay’s 18 hedge fund indices were up in November. The Barclay Pacific Rim Index gained 1.80 per cent, equity
