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After the elation of the previous month, the stock market exhibited more cautious optimism in April as the S&P 500 index increased by 1.58 per cent but displayed implied volatility (22.05 per cent) that was slightly on the rise, according to a report by Edhec Risk Institute.
The commodities market achieved a third consecutive month of remarkable gains, up 3.73 per cent.
On the fixed income market, the Lehman Global Bond index managed a solid profit of 1.05 per cent as regular bonds (+0.66 per cent) outperformed convertible bonds (+0.64 per cent). The latter were unable to reproduce their excellent
Managed futures gained 0.37 per cent in April, according to the Barclay CTA Index compiled by BarclayHedge.
“Profitable opportunities in currencies, commodities and fixed income provided the backdrop that propelled 63 per cent of reporting managers into the win column for April,” says Sol Waksman, founder and president of BarclayHedge.
Six of Barclay’s eight managed futures indices had positive returns in April.
The Barclay Diversified Traders Index was up 0.54 per cent, currency traders gained 0.53 per cent, systematic traders were up 0.49 per cent, and the Financial & Metals Traders Index rose 0.31 per cent.
“Bond prices in the
The European Parliament’s Economic and Monetary Affairs Committee has adopted its position on the draft EU law regulating managers of alternative investment funds, including hedge funds.
MEPs voted for new ways to deal with managers and funds located outside the EU, a proportionality system to regulate less risky funds more lightly, and rules on remuneration policies and short selling.
They also made changes to the directive’s transparency and risk reduction rules.
"This position will ensure better transparency and better investor protection while at the same time being on the side of the financial industry when it is working for the
The 2010 Guernsey Funds Forum on 26 May in London will bring together industry experts to debate the key issues facing the industry in the wake of the global financial crisis and the aftermath of the British General Election.
More information/Register
Appleby, a provider of offshore legal, fiduciary and administration services, has appointed Matthew Stocker as a partner in its Hong Kong office.
Stocker (pictured) practices in the full range of corporate and commercial law matters, including general banking and finance transactions, asset and structured financings, local aircraft and vessel registrations, and private equity and other investment fund work.
Prior to joining Appleby, Stocker practised with Maples and Calder in the Cayman Islands and subsequently in Hong Kong.
Stocker gained his onshore experience at Freshfields Bruckhaus Deringer in London and Rome and trained with Richards Butler (now Reed Smith) in London,
Final performance for the Credit Suisse/Tremont Hedge Fund Index has been confirmed up 1.24 per cent in April.
Nine out of ten sectors posted positive performance for the month.
Top performers included managed futures (+1.89 per cent), event driven (+1.89 per cent) and global macro (+1.65 per cent).
Oliver Schupp, president of Credit Suisse Index, says: “Managed futures delivered another month of positive performance with trend followers and high frequency managers generating profits despite some market reversals in April, as their volatility-breakout models were able to pick up the sudden downturn of the markets, as well as the reversals which
Track-Life has launched a web portal that changes the way portfolio managers can view critical information within a life insurance settlement portfolio.
Transparent Life Plus is the first life settlement tracking and servicing system that offers real-time information and statistics on insurance policies held within a life settlement portfolio.
Track-Life, launched in 2008 by executives from The Lifeline Program, has recently entered into an operating alliance with Madison Strategic Partners to broaden its servicing and tracking offerings.
Using Transparent Life Plus, portfolios can be analysed by policy size or type, policyholder demographics, premium amounts due, and dozens of other criteria.
Law firm Eversheds has appointed Steven Geerlings and Paul-Michael Rebus in a move to strengthen the firm’s City banking and finance offering.
Geerlings specialises in asset based lending acting for ABL providers on a Pan European basis.
Rebus (pictured) has established City and international credentials in structured finance, securitisation and international capital markets.
Simon Waller, head of Evershed’s finance group, says: “For some time now we have been looking to expand into the areas that Steven and Paul-Michael concentrate on and we are taking this opportunity to invest in two high calibre individuals who will complement a strong existing
PCE Investors has received regulatory approval from the Irish Financial Regulator for The Strategic Life Settlement Fund, a limited liquidity investment company with variable capital incorporated with limited liability in Ireland.
The qualifying investor fund targets a minimum annual USD-based return of eight to 11 per cent net of fund expenses, with low volatility and minimal correlation to the major asset classes of equity, fixed interest, commercial property, commodities and other alternative investments.
Speaking at the launch, investment portfolio managers Stephen Kevan and Alan Moore said: “The fund has been developed using as a foundation the analysis within AM Best’s
NYSE Euronext is celebrating the fifth anniversary of NYSE Alternext, an exchange-regulated market with lighter regulatory requirements that is tailor-made for small and medium-size businesses.
Launched on 17 May 2005, NYSE Alternext is designed to offer SMEs easier access to the stock market.
Listing and trading requirements are simplified and thus satisfy investors’ need for transparency and controlled disclosure.
A total of 133 companies are currently listed on NYSE Alternext. Market capitalisation of these 133 listed companies totals EUR4.4bn, with the average standing at EUR34m and the median at EUR24m.
Every day there are close to 1,700 trades on NYSE
