Latest News
The Morningstar 1000 Hedge Fund Index rose 0.7 per cent in April, while the currency-hedged Morningstar MSCI Composite Index increased 1.1 per cent.
For the first four months of the year, these indexes were up 2.2 per cent and 3.6 per cent, respectively.
“April was a solid month for hedge funds,” says John Rekenthaler, Morningstar’s vice president of research. “Nearly every category of hedge fund experienced a gain in April, as most global assets rose for the month. The main exceptions were in Europe, which suffered from Greece’s economic crisis, but even European hedge funds fared well if they reduced
Man Group made a profit before tax of USD541m for the financial year ended 31 March 2009, down from the USD743m profit made the previous year.
Diluted earnings per share were 24.8 cents, compared with 28.4 cents in 2009.
Man has a regulatory capital surplus of USD1.5bn and net cash balances of USD1.7bn.
The board will recommend a final dividend of 24.8 cents per share for the year ended 31
March 2010, giving a total dividend of 44 cents per share for the year.
Funds under management at 31 March were USD39.4bn, compared with USD42.4bn at 31 December 2009 and
The global macro scenario, macro information flow arrival and volatility clustering are expected to continue dominating market sentiment in the short run, according to a report by Lipper.
In the current trading environment macro and systematic traders are expected to benefit the most from trading across diverse asset classes.
Looking at the recent past, historical patterns occurring in 2007 might materialise again. Several macro-driven "crowded trades" are about to appear again in hedge portfolios.
Concerns about absorption of new government bond issuance of PIIGS countries and low bid-to-cover ratios at government debt auctions will affect the intermediate-to-long sector of the
Patrick Atkinson, partner, PricewaterhouseCoopers in Spain comments on current M&A activity in the Spanish financial services market following the rescue of a savings bank.
The rescue of CajaSur is likely to spark a wave of mergers in the Spanish banking market as the Spanish Government pushes forward with its plans to merge those institutions to strengthen the market.
This could result in a number of attractive assets (including branch networks) coming on to the market, opening up appealing acquisition opportunities for both competitors and new entrants.
However, this ‘back to basics’ phase does not provide the only opportunity
The State Street Private Equity Index rose by 5.94 per cent during the quarter ended 31 December 2009, a slight increase from the third quarter return and 2,226 basis points higher than the return recorded in the fourth quarter of 2008.
“Over the course of 2009, we witnessed fewer deals and a drop in fund raising activity in the Private Equity industry,” says Bill Pryor, senior vice president of State Street Investment Analytics. “However, private equity has since made a major comeback in the second half of 2009, finishing the year with all major fund categories posting positive returns over
Managed accounts have experienced extraordinary growth in the aftermath of the financial crisis, according to a report published today by Moody’s Investors Service.
The report takes a look at this type of structure and the inherent risks involved, and assesses the future impact it may have on the hedge fund sector as a whole.
"Although managed accounts have been around for a while, they enjoyed a surge in popularity after the market upheaval of 2008 due to the benefits they offer, such as access to liquidity and ownership of assets," says Joanne Job, a Moody’s analyst and author of the
The Australian Securities and Investments Commission has published information to better inform investors in frozen funds about their rights in relation to the freezing of funds and to confirm which entities have received relief to assist in the redemption of funds.
The term frozen fund is often used to describe a registered managed investment scheme, originally marketed on the basis that investors had an ongoing or periodic right to redeem their investments on request, a right which has since been suspended.
ASIC recognises there is some confusion among investors about the freezing of funds, which funds are affected and how
Custom House, a hedge fund administrator, has launched the Chariot Dealing Platform to complement its existing Chariot Reporting Platform.
The new platform is in the form of an online dealing portal for existing shareholders in Custom House administered funds.
It is designed to increase security and operational efficiency for the funds’ existing investors and managers. It will be soft launched on 1 June.
The new platform has been developed in conjunction with Comada, a provider of web-based technology solutions to the hedge fund industry. It issues investors with automatic electronic confirmation of trades into and out of hedge funds
The US Commodity Futures Trading Commission has charged Ruben Gonzalez and Jose C. Naranjo of California and their company, New Golden Investment Group, with fraud and misappropriation in connection with a multi-million dollar Ponzi scheme.
The CFTC obtained an emergency order from Judge Percy Anderson of the US District Court for the Central District of California on 20 May 2010, the same day the complaint was filed.
The order freezes the defendants’ assets and prohibits defendants from destroying documents or denying CFTC access to their books and records.
The CFTC’s complaint alleges that since at least August 2008, Gonzalez, Naranjo
Deutsche Bank has hired Bob Keller as a managing director in global credit trading within the bank’s global markets division.
Keller will trade cash and credit default swaps and report to Masaya Okoshi, managing director and head of investment grade credit trading in the Americas.
Keller will be based in New York.
He joins from Jefferies where he spent a year as a senior vice president in investment grade cash trading. Prior to Jefferies, Keller spent nine years at Merrill Lynch, most recently as a director in investment grade trading.
“We are delighted to welcome Bob to our team, and
