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RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, has hired Patrick Bauné as a managing director, head of corporate and institutional FX sales Europe and corporate FX sales Asia.
Bauné will be based in London and reports to Avril Pomper, head of fixed income and currencies and financial products sales, Europe, RBC Capital Markets.
Bringing over 19 years of strategy and sales expertise, Bauné joins RBC Capital Markets from Tikehau Capital, where he was a partner focused on marketing and business development.
Prior to this, Bauné held senior positions at Merrill Lynch, where he
The Commodity Futures Trading Commission has made available more than four years of history of “Traders in Financial Futures” data included in the weekly Commitments of Traders reports.
The reports disclose, on a weekly basis, the futures and options positions in financial futures markets held by the following categories of large traders: dealer/intermediary, asset manager/institutional, leveraged funds and other reportables.
“Promoting market transparency is at the core of the CFTC’s mission,” CFTC chairman Gary Gensler says. “Releasing four years of history for the Traders in Financial Futures will provide regulators, market participants and the public with additional transparency and a
Alternative asset manager The Carlyle Group has agreed to purchase a 55 per cent stake in Claren Road, a long-short credit hedge fund with USD4.5bn in assets under management, in exchange for cash, an ownership interest in Carlyle and performance-based contingent payments.
Claren Road founders will reinvest substantially all of the initial cash proceeds from the transaction back into Claren Road funds.
Terms of the transaction, which is expected to close by year end, were not disclosed.
Mitch Petrick, managing director and head of Carlyle’s global credit alternatives business, says: “Claren Road has a track record of consistent,
The hedge fund industry posted an estimated inflow of USD16.0bn (1.0 per cent of assets) in October 2010, the fourth straight inflow as well as the heaviest since November 2009, according to data from TrimTabs Investment Research and BarclayHedge.
“Flows are doubtless following performance,” says Sol Waksman, founder and president of BarclayHedge. “Hedge funds returned 1.95 per cent in October and 7.10 per cent in the four months following the May-June skid. Also, our preliminary data shows that hedge funds are outperforming the S&P 500 by about 21 basis points through November.”
Distressed securities funds hauled in USD3.8bn (3.3 per
The Lyxor Hedge Fund Index was down 0.78 per cent in November and is up 3.49 per cent year-to-date.
The top performing strategies over the month were Lyxor Distressed Securities Index (+1.17 per cent), Lyxor Fixed Income Arbitrage Index (+0.78 per cent), and Lyxor L/S Equity Long Bias Index (+0.45 per cent).
The worst performing strategy was Lyxor L/S Equity Short Bias Index, which fell by 4.53 per cent in November. It is down 21.54 per cent year-to-date.
The Lyxor Hedge Indices are investable, asset-weighted hedge fund indices. They are based on Lyxor’s hedge fund platform that covers all the
Imagine Software, a provider of real-time, integrated portfolio and risk management solutions, has launched Imagine 7, the first in a series of product launches scheduled over the next 18 months.
It introduces interactive data visualisation capabilities, a new user interface, enhanced risk analytics, support for additional asset classes, advanced charting, and customised reporting capabilities.
Imagine 7 is designed to help clients respond effectively to key market trends such as sustained market volatility, the need for advanced reporting capabilities that can help attract investor inflows and address evolving regulatory requirements, and the necessity for diversified risk management methodologies.
A large
NYSE Euronext has reported an average daily volume of 8.2 million contracts for global derivatives in November 2010, up 12.6 per cent versus the prior year and 9.9 per cent from October 2010 levels.
The increase in global derivatives ADV versus prior year levels was driven primarily by a 28.5 per cent increase in US equity options ADV.
Open interest for the European derivatives businesses at the end of November 2010 was 82.8 million contracts, a decrease of 9.8 per cent compared to November 2009, but an increase of 0.9 per cent from October 2010 levels.
NYSE Euronext European derivatives
Mitsubishi UFJ Securities International is now clearing its interest rate swap business through LCH.Clearnet’s interest rate swap clearing service, SwapClear.
With a total value of USD347trn, interest rate swaps continued to be the largest part of the OTC derivatives market in the first half of 2010.
Kirsty Brown, head of business development and strategy at MUSI, says: “Increased regulation and scrutiny mean reducing risk in the fast-growing OTC market is a substantial challenge. LCH.Clearnet is the industry standard in clearing and counterparty services and our partnership confirms MUSI’s commitment to offering the best possible protection from risk.”
Michael Davie, chief
Hedge funds edged higher in October, building on positive momentum and increased exposure to risk and returning 1.80 per cent overall, according to the Lipper Hedge Fund Composite Index.
October’s return brought year-to-date performance to a positive 5.13 per cent.
On a rolling-period basis year-on-year performance at the end of October came in at a healthy 6.13 per cent.
Managed futures (+3.04 per cent) ranked at the top of the monthly performance league table for October.
After holding the top spot in September the long-bBias strategy performed solidly in October, returning 2.78 per cent month on month and 8.06 per
Centaur Fund Services, an alternative investment fund administrator, has hired Gavan McGuire as head of business development.
McGuire will lead the business development drive from London.
He will use his network and knowledge within the alternative investment arena to grow Centaur’s client base and develop new distribution channels for the firm’s Dublin-headquartered servicing office.
McGuire has 13 years of experience in the fund administration business both in the UK and Ireland. He joins Centaur from Citi, where he was director of alternative investment services sales and relationship management. Prior to this, he held a series of senior roles with
