Latest News
Carrousel Capital, the closed end fund arbitrageur run by Bruno Sangle-Ferriere, has celebrated its tenth anniversary this week with the launch of the Centrix IX hedge fund.
Named after the three French grand ecoles from which its directors graduated, Centrix IX leverages the academic qualification and trading expertise of Christophe Le Lannou and Lilian Chovin alongside chief executive Sangle-Ferriere.
They have developed a quantitative, systematic multiple style rotation investment strategy, focussing on liquid instruments across multiple asset classes including equities, indices, FX, commodities and fixed income.
Each investment rule within the multiple style rotation system has been tested and validated
Alps Fund Services, a provider of asset servicing to the investment management industry, added five new mutual fund clients in the second quarter of 2010.
These were BBH Funds, Oak Associates Funds, Vulcan Value Partners, Transparent Value Advisors and Accessor Funds (re-branded as Forward Funds).
New York-based BBH Funds, the proprietary mutual fund family of Brown Brothers Harriman, selected Alps for transfer agency and medallion distribution services, complementing BBH’s own custody, administration and accounting offering.
Oak Associates, adviser to The Oak Associates Funds, is a growth equity investment adviser founded in 1985 in Ohio. The firm selected Alps for full
Hedge funds returned to positive territory in July, with the HFRI Fund Weighted Composite Index gaining 1.82 per cent, according to Hedge Fund Research.
The gain reverses two consecutive months of declines and brings index performance year-to-date to +1.52 per cent.
Global equity markets posted strong gains for the month as concerns about sovereign credit risk subsided, while investors were reassured by a number of developments including public equity and debt issuance, bank earnings and stress tests results and the passage of a framework for US financial reform.
July gains for the hedge fund industry followed a capital inflow of
The Hennessee Hedge Fund Index advanced 1.90 per cent in July, bringing its year-to-date performance to 1.87 per cent.
This follows a decline of 1.35 per cent in June 2010.
In July the S&P 500 increased 6.88 per cent (-1.21 per cent YTD), the Dow Jones Industrial Average climbed 7.08 per cent (+0.36 per cent), and the Nasdaq Composite Index advanced 6.90 per cent (-0.64 per cent YTD).
Bonds advanced, as the Barclays Aggregate Bond Index increased 1.07 per cent (+6.46 per cent YTD).
“Hedge fund managers lagged the broader markets due to defensive portfolio positioning. Managers began July with
Singapore Exchange is consulting the public on its proposal to extend its central counterparty clearing services for over-the-counter traded financial derivative contracts to participation from non-bank financial institutions.
On 21 April 2010, SGX made a proposal to allow bank clearing members to participate in the clearing of OTCF contracts through SGX-DC.
SGX is now proposing to admit non-bank financial institutions as general clearing members to clear their proprietary positions in similar contracts once admission and other relevant requirements are satisfied.
The admission of general clearing members to clear OTCF contracts is subject to the following additional requirements:
• A holding company
NYSE Euronext’s global derivatives average daily volume increased 17.5 per cent to 7.1 million contracts traded per day in July 2010.
The strong increase in derivatives ADV versus prior year levels was driven by an 11.1 per cent increase in European derivatives ADV and a 26.8 per cent increase in US equity options ADV in July 2010.
Cash equities ADV in July 2010 was mixed, with European cash trading volumes increasing 19.5 per cent, but US cash trading volumes decreasing 7.2 per cent compared to prior year levels.
NYSE Euronext global derivatives ADV in July 2010 of 7.1 million contracts
The Luxembourg government this week approved the draft bill on UCITS IV, ahead of its proposed introduction in July 2011.
The Committee of European Securities Regulators (Cesr) has released a series of guidelines on how to calculate risk under Ucits IV, reports Hedgefund Review.
US-based Apex Fund Services, a global fund administration firm, has opened an office in Luxembourg to help service its gr
With only a paltry USD50.7 billion in bonds issued across the Eurozone in May, conditions were far from ideal for Nomura
