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HSBC Global Asset Management is launching a Ucits III absolute return global emerging markets fund.
The HSBC GIF GEM Equity Alpha Fund, which offers daily liquidity, will target annual returns of ten to 15 per cent based on approximately ten per cent volatility with limited market correlation.
The fund will be jointly managed by Omar Negyal and Nick Timberlake, who together have a combined three decades of investment experience in global emerging market equities.
Negyal, who has more than ten year’s experience in GEM equities, joined HSBC Global Asset Management in 2009 from hedge fund specialist Lansdowne Partners, where he
Law firm Maples and Calder has hired Paul Dobbyn in Dublin to bolster the firm’s funds group.
Dobbyn (pictured), who joins on 1 May, will also lead the firm’s growing insolvency practice.
Dobbyn has been heavily involved in shaping the regulation of the industry in Ireland both at policy level and its implementation through legislation and regulation.
He is also one of Ireland’s most experienced and respected lawyers in the fields of insolvency and financial services.
Barry McGrath, head of investment funds at Maples’ Dublin office, says: "This is an exciting development for our funds practice as we continue to
Singapore Exchange is inviting public feedback on the proposed contract specifications for the SGX Nikkei Stock Average Dividend Point Index Futures contract, which will be targeted for the derivatives market.
The Nikkei Dividend Index Futures is a standard, cash-settled futures contract based on the Nikkei Stock Average Dividend Point Index.
The index is calculated by Nikkei and is based on accumulated dividends received by investors of constituent companies of the Nikkei Stock Average over a calendar year.
In recent years, institutional investors have sought tools to manage and hedge dividend exposure. The proposed Nikkei Dividend Index Futures will provide investors
The S&P GSCI ended the first quarter of 2010 with a decline of 0.89 per cent following a 1.94 per cent increase in March.
Livestock was the strongest sector in the S&P GSCI for the first quarter as measured by the S&P GSCI Livestock Index’s Q1 increase of 6.99 per cent after a 3.81 per cent gain in March.
“The index’s performance in the quarter straddled the positive influence of a 6.03 per cent increase in the S&P 500, and the negative forces of a 4.12 per cent gain in the US Dollar Index,” says Michael McGlone, director of commodity
SEI has expanded its capabilities related to the processing and accounting of side pocket investments for fund managers.
SEI spearheaded the design and development of expanded functionality intended to provide managers with greater processing control, efficiencies, and risk reduction capabilities related to these pools of separate illiquid assets.
Over the past several years, side pocket investments have become more prevalent in hedge funds amid liquidity issues in the market, and as a result, the processing of these assets has come under greater scrutiny.
Side pocket investment processing is typically performed manually because methodologies are unique across managers and complex in
Breeden Capital Management has hired Joshua W. Fenton as senior managing director and director of research and trading.
Fenton will direct the US-based research team and serve on the investment committees of the firm’s US and European funds.
Fenton comes to Breeden Capital with more than 17 years’ experience in the investment industry, including nearly ten years with Gabelli Asset Management.
Richard C. Breeden, chairman and chief executive officer of Breeden Capital Management, says: “We are excited to be able to add Josh Fenton to our team of investment professionals. Josh brings a superb background in equity investing, together
BNP Paribas Investment Partners and Fortis Investments have completed the combination of their two operations.
The combined entity is now operating under a single brand name: BNP Paribas Investment Partners.
The integration makes BNP Paribas Investment Partners the fifth-largest asset manager in Europe and the 11th largest in the world, with EUR530bn in assets under management and advice as at 31 December 2009.
BNP Paribas Investment Partners’ existing investment platform has been strengthened with new capabilities from Fortis Investments. It now has 60 investment centres, each responsible for the management of a specific asset class or type of product, and
NYSE Arca Europe, NYSE Euronext’s pan-European multilateral trading facility, says its market share has reached a significant milestone, with an average of 1.10 per cent and 1.02 per cent traded in transaction value on the FTSE 100 and FTSE 250 stocks respectively in the last week.
Virginie Saade (pictured), head of NYSE Arca Europe, says: “The diversity of our market participants combined with the consistently ultra low latency of our Universal Trading Platform have allowed our volume and market share to reach new record levels.”
NYSE Arca Europe provides trading access across Europe. Launched in March 2009, the platform
In March 2010 the international derivatives exchanges of Eurex Group recorded an average daily volume of ten million contracts, a decline of 17 percent from March 2009.
Of those, 7.1 million were Eurex contracts and 2.96 million contracts were traded at the US-based International Securities Exchange.
In total, 163.7 million contracts were traded at Eurex (March 2009: 172.3) and 68.1 million at the ISE (March 2009: 96.7).
The equity index derivatives product segment recorded 69.5 million contracts (38.5 million index futures and 31 million index options), down from 92.5 million contracts the year before.
Futures on the Euro Stoxx 50
Australian hedge funds produced positive returns in February but for many managers it was a tough month, according to a report by Australian Fund Monitors.
The AFM Hedge Fund Index rose 0.11 per cent in February, while equity based funds rose 0.07 per cent, non-equity based funds rose 0.16 per cent and single funds were up 1.13 per cent. The AFM Fund of Fund Index fell 0.03 per cent.
Equity markets started the month much as January left off, with concerns over new legislation in the US, Greece’s sovereign debt issues possibly spreading elsewhere in Europe, and potential credit tightening
