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The latest April 2010 estimate for the NewEdge Volatility Index (VTI) is -0.56% making this the sixth consecutive month that the index has recorded a negative return.
The index, which consists of the following ten funds: Acorn Derivatives – Absolute Return Offshore; AM Investment Partners V Fund; BAM Opportunity Fund; Bay Hill Capital Fund Ltd; CAAM Funds Volatility World Equities; Cassiopeia Fund; JD Capital – Tempo Volatility Fund Ltd; KBD Capital Partners LP, Class B; MM Capital Select Fund Ltd; and Swiss Alpha – Alpha Strategies Fund Inc, is down 4.13% for the year to date.
Fortis Bank Nederland (FBN) has signed an agreement on the sale of Prime Fund Solutions (PFS) to Credit Suisse.
FBN first entered into exclusive negotiations with Credit Suisse on the sale of PFS in December 2009, and the transaction, which is subject to certain conditions, is now anticipated to close before the end of 2010.
“This step allows FBN to re-focus on its core banking activities," says Jan van Rutte (pictured), Vice-Chairman Fortis Bank Nederland. "We are confident that with Credit Suisse as the new owner, PFS will expand its market leadership through continued client servicing at the highest
The Alternative Investment Management Association (AIMA) has expressed concern about the issue of dual registration for non-US investment advisers in legislation currently being debated on Capitol Hill.
“We fully support the financial stability goals of the Restoring American Financial Stability Act”, says Todd Groome (pictured), Chiarman of AIMA. “Our concerns relate to the potential duplicative registration of non-US hedge fund managers in the US where those managers are already registered and regulated by a non-US supervisor.
“If non-US hedge fund managers are subject to supervisory standards outlined by the G20 and the US, including similar reporting requirements and agreed
Industry veteran Rachel SL Minard has joined Optima Fund Management, a USD3.5 billion private investment firm specializing in hedge fund investments, in the newly-created position of Partner and Managing Director.
Industry veteran Rachel SL Minard has joined Optima Fund Management, a USD3.5 billion private investment firm specializing in hedge fund investments, in the newly-created position of Partner and Managing Director.
Minard will be responsible for expanding the firm’s global institutional relationships across all distribution channels and will report directly to the CEO and Founder of Optima, Dixon Boardman. She will sit on the firm’s management and investment committees and will
Nigel Legge (pictured) has stood down as Chief Executive of Liontrust Asset Management with immediate effect but will remain as a consultant to the independent fund management group until 6 August 2010.
Adrian Collins, currently Non-Executive Chairman, will become Executive Chairman, and John Ions, Head of Retail, joins the board as Chief Executive with immediate effect. Vinay Abrol continues in his role as Chief Operating Officer and Chief Financial Officer.
Adrian Collins said: “Having co-founded the company in 1994, Nigel has been the driving force behind the development of Liontrust, including its flotation in 1999, and has steered
Fitch Ratings has published its revised methodology relating to the analysis of European covered bonds secured on commercial mortgage loans.
The revised approach measures more precisely the credit risks of granular commercial mortgage loan portfolios securing covered bonds. The main methodological change is driven by the type of borrower. Particular analytical emphasis will now be placed on property income information for special property companies whose only tangible asset is the actual property itself, whereas operating companies’ probability of default relates more closely to the risks stemming from their general business activities.
Commercial real estate is an asset class that is vulnerable
Eurex will list three options on 17 May based on the Deutsche Bank ETFs db x-trackers MSCI Emerging Markets TRN, MSCI World TRN and MSCI Europe TRN.
Additional ETF options are expected to be listed at Eurex later this year.
“With the re-launch of our ETF derivatives segment, we support the expansion of the ETF market by offering custom-made hedging opportunities for investors and ETF issuers,” says Peter Reitz (pictured), member of the Eurex executive board. “The European ETF market has grown tremendously in every category over the last ten years, ETF derivatives will contribute to the growth of this
The average daily volume (ADV) of European derivatives traded on NYSE Euronext in April was 6.8 million fontracts, an increase of 51.5 per cent over April 2009 and an increase of 46.9 per cent from March 2010 levels.
The 6.8 million in futures and options contracts ADV consisted of 3.9 million contracts executed through NYSE Euronext’s full-service LIFFE CONNECT trading platform and 2.9 million contracts, or 42.0%, executed through Bclear, NYSE Liffe’s trade administration and clearing service for OTC products. Year-to-date, European derivatives products ADV of 5.3 million contracts was 34.7% above prior year levels. The 5.3 million in futures and options
Eurex set a new daily trading volume record on 5 May with 19.5 million contracts, surpassing the previous record of 19.2 million contracts set on 14 May 2008.
ISE trading volume was 4.6 million contracts.
Eurex’s equity based derivatives (equity options and single stock futures) was the largest segment with 9.9 million contracts.
Eurex’s equity index derivatives segment totalled at 5.3 million contracts.
Eurex’s interest rate derivatives segment reached almost 4.3 million contracts.
Australian Fund Monitor’s index of Australian hedge and absolute return funds has almost regained the previous high water mark set in October 2007 after adding 2.64 per cent in March to be up 1.41 per cent year-to-date.
Equity based funds rose 3.51 per cent in March, while non-equity based funds rose by 1.62 per cent.
The Australian equity markets continue to range trade between 4,500 and 5,000, although the rise of 5.13 per cent in the ASX200 in March only just managed to claw back losses in January to be up 0.10 per cent YTD.
As a result, with April’s
