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Dutch hedge funds gained an average 0.2 per cent in July, as measured by the Finles/IEX Dutch hedge fund index, despite their very cautious positioning.
Most quantitative strategies and macro funds showed losses due to the sudden positive momentum in the markets.
Most equity related fund benefited from stock market gains.
The five funds with the best July performance were: Trade Wind Equity Fund; Fonds Bloemendaal; Aster-X Panorama Fund; Branta Solutions Fund; and Henderson Global Currency Fund.
The five funds with the best year-to-date performance are: Trade Wind Equity Fund (+23 per cent); QTR Fund (+16 per cent); HIQ Invest
UK asset management firm City Financial has launched the City Financial Asian Absolute Growth Fund, its first foray into the Asian fund of funds market and its first fund primarily targeted at institutional investors.
Capitalising on the strong maturation of the Asian hedge fund market in recent years, the fund is designed for investors seeking hedged exposure to Asian markets, with low fees and a high degree of transparency. In contrast to many of its peers, the performance fee only applies once 10 per cent performance has been delivered, with no catch up. This, coupled with a management fee of
Chi-X Europe, the pan-European stock exchange, has started trading international depositary receipts.
The new market segment covers 50 stocks from some 12 countries, including Eastern and Southern European states such as Russia and Cyprus, as well as stocks from Asian countries such as India and South Korea.
International depositary receipts form Chi-X Europe’s 16th market segment. The exchange already offers trading in over 1,200 of the most liquid stocks from 15 European countries, plus exchange-traded funds and exchange-traded commodities.
There will be continuous trading in the IDR securities from 08.15 to 15.30 UK time. IDR securities will be cleared
Nigel Strachan (pictured), head of business development at Kleinwort Benson’s corporate services business in Jersey and the new chairman of the Jersey Funds Association, sees new opportunities for mezzanine finance to pick up the slack where leverage from traditional sources is thin on the ground.
“Mezzanine finance is essentially a type of finance that provides a solution between bank debt and equity,” he says. “It is a solution that is a hybrid in that it is debt in nature, but it also in some instances has warrants attached to it, so there is an equity element.”
The economic crisis
ABN Amro Clearing is relocating Chris Lee, global head of market access and brokerage, from London to Hong Kong.
Whilst continuing his global role, Lee will be focused on building the profile of the ABN Amro Clearing business in the region.
Marcel Jongmans, chief executive of ABN Amro Clearing, says: “We as a global management team strongly believe that Asia Pacific will play a major role in our growth over the next few years. Chris will be the first member of our global management team to be located in Asia, and will add depth and specific DMA skills to
Credit Suisse and UBS have been named the 2010 Greenwich share leaders in European equity trading, with each firm boasting a market share in excess of 11 per cent of overall institutional trading volume in European stocks.
These two firms were also named Greenwich quality leaders in European equity trading, along with Bank of America Merrill Lynch and Deutsche Bank.
Greenwich says competition for trading business in European equities is intensifying after a number of major brokers invested in the business just before an unexpected decline in institutional commission brokerage payments on trades of European stocks.
The strong recovery in
With recent reports and individual commentators suggesting that US pension fund allocations into alternative investment vehicles will rise from their current three pe
This week’s spotlight is on Frankfurt-based Tungsten Capital Management and their market neutral absolute return PRO ART ERV Fund.
US corporate credit manager, Concerto Asset Management, has won a EUR60 million credit alpha absolute return mandate from London-based multi-manager boutique, Goodhart Partners.
Signet, the London and Swiss-based fund of hedge funds management and advisory group, is preparing to launch the Signe
