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Managed futures posted a slightly positive performance for June as commodities edged higher during the month, according to a report by Lipper Tass.
Trend followers generally ended the month in positive territory as they were able to benefit from the recent price trends in commodities, especially gold, and on flattening yield curves on both sides of the Atlantic.
The Lipper Managed Futures/CTAs Index registered a positive return of 0.12 per cent for June, bringing the year-to-date performance to minus 3.90 per cent.
Long exposures to equities, however, dragged down manager performance as markets sold off on lingering concerns over Eurozone
Law firm Pillsbury says hedge funds should be aware that substantially increasing their long positions in exchange-traded funds could result in a violation of the ownership limit set forth in the Investment Company Act of 1940.
The report, by Jay B. Gould, Ildiko Duckor, Clint A. Keller and Michael G. Wu, says in recent years, many hedge funds have significantly increased their holdings in ETFs.
Historically, hedge funds primarily acquired short positions in ETFs to hedge their long positions in a particular industry segment by obtaining short exposure to an entirely different industry segment.
However, many hedge funds are now
Staff changes at its Guernsey office is not a precursor to the transfer of fund administration operations outside the island, according to alternative fund service provider Butterfield Fulcrum Group.
The jobs of six staff at the firm’s Guernsey office have been terminated as a result of the implementation of new technology by the group, a spokeswoman says.
However, she insists that local concerns that there were plans to transfer funds or business away from Guernsey were unfounded. All staff affected by the changes had been offered alternative positions in other parts of the business, the spokeswoman says, but not
NYSE Liffe says total daily volume in its milling wheat futures contract passed 50,000 contracts for the first time on 22 July 2010.
Milling wheat futures reached a record of 50,165 contracts, surpassing the previous record of 43,986 contracts set on 15 July 2010.
Total combined milling wheat futures and options volume set a new record of 64,959 contracts, surpassing the previous record of 52,674 contracts set on 6 July 2010.
“The continued growth of the milling wheat futures contract is testimony to its success as a hedging instrument for the commercial market, as well as demonstrating its growing
London-based Gottex Fund Management is preparing to launch a Fund of Ucits III Funds using a SICAV structure.
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
