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Fund of hedge funds manager Olympia Capital Management has launched the Olympia Dynamic Fund, a diversified multi-strategy fund of hedge funds, driven by a dynamic allocation based on risk regimes.
Olympia Dynamic Fund uses a flexible core-satellite approach based on a proprietary indicator, the Olympia Risk Indicator.
Both the core and the satellite elements of the portfolio are actively managed. The core portfolio is invested in hedge fund trackers and offers tail protection through the ability to momentarily reduce hedge fund exposure. The satellite portfolio is invested in single hedge fund managed accounts with a strategy allocation driven by the
An organisation has predicted that the number of initial public offerings (IPOs) being made will spike through 2010.
The hottest debate around the Chinese economy is how long hedge funds can rely on the renminbi being tired to the US dollar, an expert has asserted.
Icap, an inter-dealer broker and supplier of post-trade services, has received final regulatory approval and will complete the acquisition of the remaining 61.78 per cent of stock in TriOptima on 24 March 2010.
The acquisition was announced on 5 February 2010. A total initial payment of approximately SEK1,074m is payable in cash, which will be financed from Icap’s existing debt facilities.
TriOptima will join a number of other companies in Icap’s newly formed post trade risk division.
“Icap has been developing a post-trade risk and information business to provide innovative services that enable our customers to reduce their costs and
SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P. Morgan and BNP Paribas, has reported record market share gains in the Nordic region and confirmed SEB as the latest firm to join SmartPool.
According to the Thomson Reuters Equity Market Share Service, SmartPool reported record dark market share highs in the Nordic markets during the first two weeks of March.
Key dark market share highlights include: 10.4 per cent market share in OMX Copenhagen 20 Index; 7.3 per cent market share in OMX Helsinki 25 Index; 9.3 per cent market share in the OMX
The Fédération des caisses Desjardins du Québec, the manager of the Desjardins family of mutual funds, has made changes to the investment objective of Desjardins Alternative Investments Fund, which has been re-named Desjardins Completion Investments Fund.
Due to previously announced changes to the tax treatment of income trusts which will take effect in January 2011, the fund will no longer invest in income trusts.
The fund will allocate a portion of its portfolio to two new classes of assets: (a) global infrastructure securities, which represent a potential source for stable returns and (b) global high yield bonds, which provide the
Managed futures gained 0.19 per cent in February, according to the Barclay CTA Index compiled by BarclayHedge.
“Although commodity indexes gained nearly 3.5 per cent in February, the profits for CTAs came largely from the financial markets,” says Sol Waksman, founder and president of BarclayHedge. “US and Asian equity markets overcame Greek jitters early in February and rallied nicely through month-end.”
The Barclay BTOP50 Index, which monitors performance of the largest managed futures funds, outperformed all other sectors, gaining 0.72 per cent in February.
“The largest traders, based on liquidity considerations, tend to have higher percentage exposures to financial markets
Prime broker Direct Access Partners has formed a marketing practice.
The New York brokerage firm recruited a fundraising team from Channel Capital last month, adding four marketing professionals who have raised a combined USD1.5bn in recent years.
While other mini primes offer capital introduction, usually free of charge, Direct Access is thought to be the first to create a full-fledged marketing unit to help hedge fund clients raise capital. The firm will charge an undisclosed fee for the service.
The new team is led by Wall Street veteran George Lucaci (pictured), who joined Direct Access as a senior managing director.
The European Repo Council of the International Capital Market Association has released a survey which sets the baseline figure for the European repo market size at EUR5,582bn, representing an increase of 14.7 per cent on the figure of EUR4,868bn for the previous survey in June 2009.
This latest survey shows robust overall growth in volumes in the second half of 2009, which confirms the tentative signs of recovery seen in June 2009.
The data also demonstrates the resilience of the European repo market, which largely continued to function during the financial crisis of 2008-09.
ICMA says the repo market provided
EFX Prime Services, a division of First New York Securities, has appointed its hedge fund client service team.
The team is comprised of operations and trading experts from First New York Securities and new hires that complete the EFX Prime service offering.
Mario Maugeri has been named director of operations. He joined First New York in 1995 and oversees operations and manages relationships with all clearing firms.
Glen Mauriello is manager domestic operations. He joined First New York in 2007 and has 22 years’ experience most recently as director of clearing operations at LaBranche Financial Services.
Peter Lombardo, operations specialist,
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