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NYSE Arca Europe, NYSE Euronext’s European multilateral trading facility, has expanded into trading blue chip securities listed on the Prague Stock Exchange and the Budapest Stock Exchange.
From today, NYSE Arca Europe will expand its product range to include constituents of the BUX Index (Budapest Stock Exchange) and the PX Index (Prague Stock Exchange).
Trades in these securities will be cleared by EuroCCP.
The announcement follows the recent expansion of NYSE Arca Europe’s securities coverage to include access to the 100 most liquid US equities featuring 86 NYSE listed companies and 14 other listings.
Virginie Saade, head
Hedge funds lost 3.09 per cent in May, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
“Fear was in the driver’s seat in May as investor worries about a liquidity crisis in Europe and a ‘double-dip’ recession in the US drove global equity prices lower,” says Sol Waksman, founder and president of BarclayHedge.
The Barclay Emerging Markets Index dropped 5.19 per cent, equity long bias lost 4.75 per cent, European rquities fell 3.71 per cent, Pacific Rim rquities were down 3.59 per cent, and the Equity Long/Short Index lost 3.09 per cent.
“All of the MSCI Developed Market
Merchant Capital, a provider of a Ucits III umbrella for hedge fund managers, has launched its Ucits strategy assessment/feasibility evaluation service, which helps managers to ascertain whether their strategies will translate efficiently into a Ucits structure.
Merchant Capital is supported by Carne Global Financial Services and Kinetic Partners in the execution of the system.
Merchant Capital and Carne Global undertake the role of assessing a fund’s invested underlying instruments, exposure and positioning, while Kinetic Partners carries out the appropriate value-at-risk analysis.
George Cadbury, director of funds at Merchant Capital, says: "With many alternative investment managers from around the world
Final performance for the Credit Suisse/Tremont Hedge Fund Index has been confirmed down 2.76 per cent in May, its largest drop since November 2008.
Nine out of ten sectors posted negative performance for the month.
Although the industry was negatively impacted by the market sell-offs, hedge funds outperformed equity market indices such as the S&P 500 and MSCI World which fell 7.99 per cent and 9.77 per cent respectively in May.
Dedicated short bias was the only sector to generate positive performance, gaining 5.84 per cent for the month as managers benefited from negative equity market performance and overall higher
Liquidnet, the institutional investment community that enables secure and anonymous block trading of equities, is expanding its trading operations to include New Zealand listed securities.
Liquidnet will commence trading of New Zealand equities on 22 June 2010.
It is believed to be the first time an alternative trading venue has offered electronic trading access to equities listed in New Zealand.
Sam Macqueen, co-head of Liquidnet Australia, says the decision to facilitate New Zealand equities trading was led by strong demand from Liquidnet’s asset manager members who find the local market restrictive when it comes to trading large volumes of stocks.
The RBC Hedge 250 Index fell by 2.42 per cent in May, bringing its year-to-date return to 0.29 per cent.
These returns are estimated and will be finalised by the middle of next month. The return for April 2010 has been finalised at 0.88 per cent.
All strategies fell in May with mergers and special situations, down 3.63 per cent, the worst performer.
The strongest performance was recorded by fixed income arbitrage, which dropped by 0.41 per cent.
The RBC Hedge 250 Index is an investable benchmark of the performance of the hedge fund industry.
A tool for accurately valuing over-the-counter and exchange-traded derivatives has been launched by SuperDerivatives.
The Revaluation Investigation and Analysis system will validate valuations for complex and vanilla derivatives in all asset classes.
It is a web based interactive application which allows the user to provide a set of shifts in the underlying yield curves and volatility surfaces and the system displays the resulting valuations and associated risk measures.
The tool enables users to analyse the pricing assumption of individual trades and for price sensitivity comparison and stress testing of large portfolios of instruments. The results are shown within SuperDerivatives’s various
A survey of European ABS investors published by Bishopsfield Capital Partners reveals a positive consensus supporting increased issuance in the asset backed securitisation public market.
The survey of 26 investment managers and investment advisers active within the European ABS market shows that caution among issuers and arranging banks for new public issuance does not extend to investors.
Sixty two per cent of respondents believe new issuance will be higher over the next 12 months than in the past year, while 80 per cent believe new issues will achieve stable or tightened credit spreads.
Given the spread range on three to
Fitch Ratings says in its quarterly hedge fund newsletter that the industry has shown resilience in the face of difficult macroeconomic and market factors for the year-to-date.
However, market volatility in May highlighted funds’ exposure to systemic risk and affected many strategies, including those focused on fundamental analysis and arbitrage.
Global hedge fund assets under management have benefited from positive inflows so far this year, due to a return to absolute return management from institutional investors looking for yield and asset diversification.
Hedge funds are demonstrating a greater focus on relative value strategies in 2010 compared with last year, when
The funds in Australian Fund Monitor’s database have fallen by an average of 2.47 per cent in May, based on the results of 31 per cent of funds in the database.
This is five per cent less than the fall of the ASX 200, which fell by almost eight per cent in May.
Equity funds fared worst, down 3.75 per cent, while non equity based funds posted a positive 0.81 per cent for May, based on the 19 per cent which have reported to date.
Taking a 12 month view, equity based funds are up 14.46 per cent against the
