Latest News
The Global Leveraged Index Fund, a quantitative and global macro strategy fund managed by Coburn Barrett, has a 12 year track record and an annualised return of 14.04 per cent since inception in 1998.
The GLI Fund ranks in the top one per cent of all funds for total returns according to Bloomberg.
Over the same period, it has outperformed the S&P 500 total return index by 11 per cent, the MSCI Global USD total return by ten per cent and Warren Buffet by six per cent.
Year to date, the GLI Fund is up 15 per cent; the S&P
Eaton Vance Management has launched the Eaton Vance Global Macro Absolute Return Advantage Fund, a mutual fund managed for total return.
Designed to complement traditional asset classes, the fund employs a flexible strategy that provides wide-ranging exposure to global investment opportunities, including many typically unrepresented in conventional investor portfolios.
As an absolute return fund, the fund benchmarks performance primarily against short-term cash instruments and expects to provide returns over the long term that are substantially independent of movements in the stock and bond markets.
In making investment decisions on behalf of the fund, Eaton Vance uses macroeconomic and political
Carlisle, the Luxembourg-based alternative fund manager, has been included within two Hedge Fund Research indices.
The Long Term Growth Fund, a life settlement investment fund, is now part of the Hedge Fund Research Total Funds Index and Fixed Income Asset Backed Index.
The fund, managed by Carlisle Management, focuses on investing within the secondary life insurance market.
"As the investment community continues to seek low correlation to other asset classes and low volatility, we are confident life settlements will be part of the equation," says Jose Garcia, Carlisle’s chief executive.
The fund’s strategy is to purchase carefully selected life insurance
EuroCCP has partnered with Swift’s central trade matching platform to provide prime and executing brokers central counterparty clearing services for their over-the-counter pan-European equity trades.
The collaboration is one of the first to offer European prime and executing brokers the benefit of a CCP protection for their OTC equity trades.
EuroCCP will fulfill the obligations to settle the trade even if one party to a transaction defaults.
The brokers’ operational processing and settlement flow will be streamlined through netting multiple trades in the same security into single settlement obligations.
Diana Chan, chief executive of EuroCCP, says: “EuroCCP is focused on
The US Commodity Futures Trading Commission has filed and settled charges against Daniel J. Bealko, General Motors’ former global commodity manager for lightweight metals, for knowingly engaging in unauthorised futures and options trading as part of his criminal scheme to defraud the company.
Bealko, formerly of Clarkston, Michigan, is currently in the custody of the Federal Bureau of Prisons.
According to the CFTC order, between 1996 and 2003 Bealko was responsible for devising and implementing GM’s aluminium hedging strategies. Between June 2003 and 7 December 2003, Bealko used the commodity markets subject to the CFTC’s jurisdiction to defraud GM.
Crinan Capital, a private hedge fund company, has launched the Crinan Stability investment fund.
The absolute return fund has been designed to hedge existing exposure to equities and property by investing in a portfolio of carefully selected futures.
The fund intends to raise GBP25m of initial subscriptions without limit on total fund size and aims to deliver a target return of ten per cent compound annual return regardless of market conditions.
The fund uses a proprietary system-driven investment style which decides when to enter and exit trades based on a pre-established and predefined model. Developed and refined over
ML Capital Asset Management says the first manager to launch on the Montlake Ucits platform will be Clareville Capital Partners, the firm founded by David Yarrow.
The fund will commence trading on 1 October 2010.
Yarrow and Angus Donaldson will co-manage a Ucits compliant derivative of the 13 year old Pegasus Fund, which employs a UK long/short equity strategy.
John Lowry, chairman of ML Capital, says: "The Ucits revolution allows investors to access managers who can actively short stocks and hedge a portfolio, however managers with long and successful experience of running equity hedge funds are in short supply. The
French defence electronics maker Safran is to acquire L-1 Identity Solutions, a US company that protects personal identities and assets, in a merger transaction providing for stockholders to receive USD12.00 per share in cash, for an aggregate enterprise value of approximately USD1.6bn inclusive of outstanding debt.
Lutetia Capital, a merger arbitrage hedge fund, has L1 as its largest position.
The per share consideration of USD12.00 incorporates the purchase price to be received pursuant to the sale of the L-1 intelligence services businesses.
The per share price represents a premium of 24 per cent over L-1’s closing stock price on the
Source says it now offers a truly passive approach to alternative investment, with the launch of two exchange-traded funds tracking the Merrill Lynch Factor Model strategy.
This strategy, developed by BofA Merrill Lynch, aims to generate similar performance to funds of funds without investing directly in hedge funds.
Instead, the model uses a portfolio of six liquid and well-known market indices to replicate the global performance of hedge funds.
The BofAML Hedge Fund Factor Source ETFs are available in US Dollars and Euro and will be listed on the London Stock Exchange and Xetra respectively. They are highly liquid, Ucits
Derivatives exchange Eurex will be launching a future that is based on notional short-term debt instruments issued by the Republic of Italy (Buoni del Tesoro Poliennali – BTP) on 18 October 2010.
The contract will complement the Eurex benchmark interest rate derivatives family; along with the existing ten-year Euro BTP Future, the short-term BTP contract will serve as an appropriate hedging instrument for all non-triple-A-rated European government bonds as well as for other interest rate instruments (such as swaps).
Following the launch of the new future, the short-term Italian government bond market will additionally benefit from the ensuing increase in
