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State Street Global Markets has launched its Systemic Risk Index, an index that measures the US equity market’s vulnerability to market shocks.
The index describes the degree to which a small number of macro risk factors, as opposed to stock- or industry-specific news, can drive stock returns.
The components of the index, covering the US equity market, are made up of approximately 60 industrial sectors.
The index provides a single, daily measure of fragility and can help portfolio managers to determine when they should consider hedging their portfolios or change investment strategies.
The index can be used in conjunction with
Fitch Ratings says that despite strong returns in September, hedge funds are still struggling to find solid sources of outperformance.
The industry is witnessing a strong comeback of top-down macro-driven markets, affecting confidence, liquidity and volatility, with a high level of correlation across assets.
The quarterly hedge fund newsletter from Fitch also discusses fund of hedge funds consolidation and the lessons investors in hedge funds can draw from recent trendless volatile markets.
The first three quarters of 2010 demonstrated that investment markets remain vulnerable to changes in the global macroeconomic outlook. The initial hopes for gradual normalisation in Q1, as
Hedge funds gained 3.63 per cent in September, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
Year-to-date the index is up 5.26 per cent.
“September’s gain puts the index into new high ground,” says Sol Waksman, founder and president of BarclayHedge. “The prior peak was established at the end of October 2007 when the index gained 2.87 per cent. It’s taken three years for hedge funds to recover from the financial meltdown and break their previous high.”
Overall, 17 of Barclay’s 18 hedge fund indices had gains in September.
The Barclay Healthcare and Biotechnology Index jumped 6.35 per
Back in July, Hedgeweek reported that Hong Kong-based Janchor Partners, founded by John Ho (pictured), had reached the magic USD100 million mark in AUM for its Equity L/S Pan-Asian Fu
September saw hedge funds post the biggest gains since May 2009, as global equity markets soared on the back of improved investor confidence in the global economic recovery.
2010 is turning out to be survival of the fittest as yet another small Singapore-based hedge fund company, Amoeba Capital Partners
In what is possibly the first sign of reaction to the Dodd-Franks Bill, Goldman Sachs’ Asia-based Principal Strategies traders, a 10-man plus team managed by Global Head Principal Strategi
Ex-CLSA’s Howel Thomas, who spent nine years at Asia’s leading independent brokerage firm becoming its Head o
GreensLedge Capital Markets has formed GreensLedge Asia, Tokyo branch to expand the company business activities in the Asian markets. Iku Nishino (ex-J.P.
Heptagon Capital, an asset management business, has hired Arnaud Gandon as chief investment officer of the investment management division and Natalia Greslikova as head of institutional sales for the Benelux, Germany, Austria and Switzerland.
Gandon joined in August having previously been at Union Bancaire Privée in London for 12 years, latterly as head of global equity where he managed institutional mandates and private discretionary portfolios.
Before joining UBP, Gandon was an associate director at Gerrard Investment Management, responsible for European manager selection. Prior to that he spent two years managing a multi-asset advisory portfolio for Credit Agricole Indosuez’s private bank
