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Asset management firm Connor, Clark & Lunn Financial Group has made the CC&L Small Cap Market Neutral strategy available to individual investors.
Investors will be able to access the strategy via a fund distributed through investment dealers.
Previously, direct investment in the strategy has only been available to institutional investors and partners of Connor, Clark & Lunn.
"We have been fortunate in developing strong partnerships with a number of the top investment advisors in the country at select full-service investment dealers," says Tim Elliott, who heads Connor, Clark & Lunn’s distribution efforts into this channel.
"By making the CC&L Small
FrontPoint Partners, which was acquired in 2006 by Morgan Stanley, has restructured its relationship with Morgan Stanley whereby its portfolio managers and senior management, including co-chief executive officers Daniel Waters and Michael Kelly, will collectively own a majority of the equity ownership interests in FrontPoint.
Under the terms of the agreement, Morgan Stanley Investment Management will retain a minority equity stake in FrontPoint. No other terms were disclosed.
The restructuring is subject to customary closing conditions, and is expected to close in the fourth quarter of 2010.
"During the last four years we have continued to expand our investment capabilities,
LGT Capital Partners has appointed Jaime Castán, formerly of Man Investments, to the executive team of its hedge fund business.
Castán has been appointed co-head of the firm’s hedge fund investment management team, responsible for LGT Capital Partners’ research competence centres.
Thomas Weber, partner at LGT Capital Partners, says: “the addition of Jaime to our team further strengthens our hedge fund business. Jaime brings a wealth of experience to our global manager selection process and will be a very effective leader of our team of research analysts.”
“I have been very impressed with the team, the investment culture and stability
Castle Alternative Invest, a fund of hedge funds investment company listed on the SIX Swiss Exchange and London Stock Exchange, has completed the second line share buyback programme initiated on 21 June 2010.
The second line on the SIX Swiss Exchange will be closed after market hours on 22 October 2010.
Pursuant to this programme, Castle Alternative Invest has repurchased 2,225,464 shares with a total consideration of CHF31.9m representing 5.78 per cent of the shares currently in issue. The average purchase price per share was CHF14.34. This represents 11.29 per cent of the shares that will be in issue after
The Alternative Investment Management Association says there has been considerable progress on the content of the Alternative Investment Fund Managers Directive following the compromise reached yesterday by EU ministers.
Aima had previously expressed grave reservations about some of the directive’s content. It thought there were many provisions that would have negatively impacted both the alternative asset management industry globally and also European investors.
Andrew Baker, chief executive of Aima, says the text of the directive that has now been agreed by European finance ministers is a considerable improvement not only for its members but in terms of its impact on
Fidessa group, a provider of trading systems, market data and connectivity to buy-sides and sell-sides, has appointed Dorothy Friedman as vice president of marketing for the Americas.
Friedman will be responsible for heightening Fidessa’s exposure in the US, Canada and Latin America, and will help drive the company’s growth by rolling out creative programmes and maintaining a strong public presence within the region.
Prior to Fidessa, Friedman held a variety of senior level marketing positions with both SunGard and Broadridge Financial Solutions where she was responsible for developing and managing strategic communications campaigns.
Martin Hakker, Fidessa’s executive vice president of
Ucits hedge funds ended the third quarter with a progression of 1.09 per cent in light of the strong rebound of the equity market, according to the Ucits Alternative Index Quarterly Industry Report.
The best performing index for the period is the Emerging Markets Index followed by the Event Driven Index with respectively 3.43 per cent and 3.11 per cent.
The worst performing indices are commodities and equity market neutral which fell 1.51 per cent and 0.48 per cent respectively.
On a year to date basis, the Fixed Income Index is still the best performing one with 3.75 per cent
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
