Latest News
Final performance for the Dow Jones Credit Suisse Hedge Fund Index is confirmed up 3.43 per cent in September and 5.98 per cent year-to-date.
Nine out of ten sectors posted positive performance for the month.
Among the top performing sectors were long/short equity (+5.09 per cent) and emerging markets (+4.77 per cent), which benefited from long directional exposure to the global equity market rally in September.
The event driven sector finished up 3.20 per cent as managers continued to capitalise on increasing activity in the M&A and distressed debt space.
Dedicated short bias was the worst performing sector in September,
China’s commercial banks are entering the emerging sectors via partnerships with private equity institutions.
This August, Beijing-based China Minsheng Banking established a partnership with DE Shaw Group, an institution engaged in energy investment.
Both sides agreed to cooperate in the field of RMB private equity investment and Minsheng Bank said that it would raise fund for the private equity partner from customers of its private banking service.
Another lender, China Construction Bank, is setting up a medical health industry fund, the first one of its kind in China’s domestic market. Private banking customers are expected to make a direct investment
Hedge funds recorded the largest quarterly asset jump in over three years, with total industry capital increasing by USD120bn in quarter three 2010, according to data released by Hedge Fund Research, a provider of hedge fund industry data.
The capital increase reflects a combination of both performance-based gains and new capital inflows, bringing total assets invested in the hedge fund industry to USD1.77trn as of 3Q10.
The HFRI Fund Weighted Composite Index posted a gain of 5.17 per cent in the third quarter, bringing the cumulative net asset value of the broad-based index to exceed the previous record level set
Gottex Fund Management, an alternative asset management group, has reported an increase in total fee earning assets of 6.9 per cent to USD7.8bn at 30 Septemner 2010, compared to USD7.3bn at 30 June 2010.
The increase was as a result of substantial subscriptions at Gottex Fund Management and Gottex Solutions Services.
Gottex says market neutral strategies posted positive performance year to date, continuing to outperform many fund of hedge funds indices.
Gottex Solutions Services more than doubled its assets from USD450m at June 2010 to USD1.01bn by September 2010.
Gottex has a debt-free balance sheet with cash reserves of USD41m.
Derivatives exchange Eurex has launched a mobile training application called M-Learning to help users prepare for the Eurex Trading Examination.
M-Learning enables flexible and customised preparation for the exam directly from any web-enabled feature phone or smart phone.
Users can view the entire list of questions and test their knowledge by visiting the web portal at.mobileacademy.deutsche-boerse.com or m.eurexchange.com.
In developing and launching the application, Deutsche Börse Capital Markets Academy worked with Netbiscuits, a provider of web-based platforms for the development and operation of mobile websites and applications.
The material for the Eurex trading exam consists of 102 multiple choice questions.
Guernsey’s fund servicing industry fell by less than four per cent to reach USD278.7bn (GBP186.3bn) at the end of June 2010, with the total number of funds and sub-funds standing at 1,949, according to Lipper.
Guernsey’s fund servicing industry fell by less than four per cent to reach USD278.7bn (GBP186.3bn) at the end of June 2010, with the total number of funds and sub-funds standing at 1,949, according to Lipper.
Encouragingly, non-domiciled funds serviced in Guernsey rose again to reach USD42.3bn (GBP28.3bn).
For fund administration services of both domiciled and non-domiciled funds, Northern Trust is the largest administrator by
Orix USA has entered into a definitive agreement to acquire a majority interest in MIG Holdings, the parent company of Mariner Investment Group, a hedge fund and alternative investment manager.
Mariner is an SEC registered investment adviser founded in 1992 with 166 employees, and in conjunction with its affiliated advisers, manages approximately USD11.7bn of assets.
Mariner’s current investment services and product offerings include several direct and affiliated single and multi-strategy hedge funds, funds of funds and other alternative investments.
Mariner is headquartered in Harrison, New York with additional offices in New York City, Boston, London and Tokyo.
The Mariner transaction
The Swiss banking group Syz has integrated its institutional asset management activities within the newly-created division Syz Asset Management.
Syz Asset Management will manage all the group’s institutional mandates, both traditional and alternative, as well as investment funds.
Syz Asset Management will directly promote its capabilities to institutional clients.
Banque Syz & Co will offer the group’s products, such as Oyster funds or 3A funds, to professional intermediaries.
Together with the existing Syz Asset Management entities in London, Milan and Hong Kong, Syz Asset Management in Switzerland will serve all institutional clients of the group, focusing on pension funds,
The ebb and flow of the stock market over the past few months continued in September, with the S&P 500 index surging 8.92 per cent and implied volatility decreasing by 2.35 per cent, according to research by Edhec Risk Institute.
On the fixed income market, risky bonds also benefited from the ambient optimism and managed an outstanding performance of 5.59 per cent, while regular bonds remained stable (-0.01 per cent), like the Lehman Global Bond Index (+0.02 per cent).
The commodities market also registered its best performance (+9.40 per cent) over the past 16 months. The dollar fell sharply, down
The Channel Islands can enhance their value to Europe Union through business growth in emerging markets, according to the former chairman of the Jersey Financial Services Commission, the island’s financial regulator.
Colin Powell, now adviser on international affairs to the States of Jersey and chairman of the Offshore Group of Banking Supervisors, believes there are particularly good business opportunities for the Channel Islands in tapping the growth economies of China and India.
“The islands’ expertise in specialist funds, special purpose vehicles and wealth protection should be of particular appeal in these markets,” Powell told delegates at the recent Channel
