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A report by Alternative Ucits reveals that the number of single manager Ucits III hedge funds grew in Q2 to nearly 500; a
BoAML’s MLIS (Merrill Lynch Investments Solutions) platform is a marke
European banking giant, Credit Suisse, has made its first foray into the Fund of Ucits-III Hedge Funds arena with the lau
London-based NewSmith Capital Partners is preparing to launch a UCITS III offering, using an investment strategy that wil
Ramius, the asset management division of Cowen Group, has launched its first mutual fund, the Ramius Dynamic Replication Fund.
The product focuses on hedge fund replication that provides investors the opportunity to access market exposures typically characterised by investments in hedge funds, but with the daily liquidity of a mutual fund.
The fund is expected to commence operations by the end of the month with over USD100m in initial capital.
Thomas W. Strauss, president and chief executive of Ramius, says: "Over the past 15 years, Ramius’ asset management platform has evolved within the ever-changing investment landscape to meet increasingly sophisticated
The board of directors of The London Metal Exchange has approved the membership applications of Standard Chartered and Scotia Bank Europe to become associate broker clearing members of the LME.
Associate broker clearing members have the ability to issue and clear LME contracts.
They operate through the 24 hour inter-office telephone market and also use the exchange’s electronic trading platform, LMEselect, but are not permitted to trade in the exchange’s open outcry trading floor, the Ring.
They are members of LCH.Clearnet and are authorised by the Financial Services Authority.
LME chief executive Martin Abbott says: “We welcome Scotia Bank and
Onex has appointed Jack Yang as managing partner of Onex Credit Partners.
Onex Credit Partners specialises in managing credit-related investments, including event-driven, long/short, and market dislocation strategies.
Asset classes include bank loans, bonds, and distressed debt.
Established in November 2007, Onex Credit Partners manages approximately USD900m in assets in various products including separate accounts and an exchange-listed fund.
"Jack brings an extraordinary track record of building and managing world-class credit businesses," says Gerald Schwartz, Onex’ chairman and chief executive officer. "We have known Jack for several years, and are delighted to have him join the Onex Credit Partners’ management team.
Following the signing of a partnership between ABN Amro Clearing and tick-TS in February this year, the companies have expanded the markets available via their set-up.
As of today, further access can be provided to the NYSE Euronext Cash Market and Eurex.
“The combination of the exchange memberships of AAC and the tick-TS trading front-end has proved to be very successful right from the start. We now have a substantial customer base using tick-TS who are all very enthusiastic with the speed of execution through the proximity hosted servers of tick-TS,” says Sven Diepenbach, market access business development manager at
Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, are up 0.6 per cent year-to-date as of 30 June, posting positive performance for four out of six months in the first half of 2010.
To date in 2010, the hedge fund industry has outperformed global equity markets by over ten per cent as managers continue to employ a diverse range of alpha-generating investment strategies.
Performance among the ten index sectors was mixed with six out of ten sectors posting positive returns in the first half of the year. Top performers included fixed income arbitrage (+5.5 per
Insparo Asset Management is celebrating the two year anniversary of its Africa and Middle East fund.
It says the success of the fund has shown the potential of investing in the region, and predicts that the next few years will provide even more growth.
The Insparo Africa & Middle East Fund makes investments across the Mena and Sub-Saharan Africa regions in various sectors. The fund has returned over 30 per cent since the start of July 2009, and has significantly outperformed the MSCI Frontier Markets Index over the same period.
The firm’s second year has seen it build
