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SEI has been selected by Fred Alger Management to provide operations outsourcing services for the firm’s separately managed account business.
The deal is the latest in a series of recent high profile client wins for SEI in the separately managed account industry.
Under the agreement, SEI will provide Alger with a fully outsourced, customized solution centered on delivering automated business processes, account administration, reconciliation, and reporting.
"We know what it takes to run an efficient operating environment and SEI was the only provider we trusted to do so for us. SEI has continually proven itself as the leader in the
Investors are positioning themselves for halts in both Europe and China’s economic recovery, according to the BofA Merrill Lynch survey of fund managers for February.
Investors have scaled back their growth expectations, retreated into cash and are increasingly skeptical that the European Central Bank will increase interest rates in 2010.
The panel was responding to questions against a backdrop of economic crisis in peripheral eurozone countries and concerns over monetary tightening in China. World equity markets fell by 8.9 per cent during the survey period.
The proportion of European investors expecting the region’s economy to grow in the coming
The net asset value of Castle Alternative Invest rose 12.6 per cent in 2009 in US dollar terms, according to lead portfolio manager Thomas Weber of LGT Capital Partners.
In its 13 year history the company has a delivered 11 years of positive performance.
All four styles in which the company invests – long/short equity, event driven, relative value and CTA/macro strategies – provided positive performance in 2009.
In early 2009 LGT moved CTA/macro allocation away from systematic traders and increased exposure to global macro managers, which helped the company outperform the HFR Fund of Funds Index for the period
Sprott Asset Management, which manages the Sprott family of mutual funds, hedge funds and discretionary accounts, has appointed Scott Colbourne to the position of senior portfolio manager.
Colbourne started his career at the Bank of Canada and has accumulated more than 22 years of investment experience.
Prior to joining Sprott Asset Management, Colbourne was a senior fixed income portfolio manager at TD Asset Management where he was part of a team that managed all of the firm’s active fixed income institutional, retail and private client assets. He was also a member of the TDAM’s asset allocation committee.
Previously, Colbourne held
Fund managers are confident that higher equity returns and positive, albeit modest, economic growth will manifest a continued global recovery, according to a survey conducted by professional services firm Towers Watson.
Despite a large degree of uncertainty expressed about bond markets, this year’s findings show more optimism than managers expressed about the markets in last year’s survey.
The global survey of investment managers indicates a strong West/East divide over the economic outlook for the next five years, with the West either having a delayed recovery or stagnation and the East (with the exception of Japan) expected to experience a boom.
Mazi Visio Offshore was South Africa Alpha Capital Management’s best performing portfolio in January 2010 with a return of 3.54 per cent.
The fund has returned 21.66 per cent since inception.
Also posting positive returns in January were 36One Offshore (0.62 per cent), Tantalum Offshore (0.30 per cent), Big Rock Offshore (0.84 per cent) and Laurium Offshore (0.30 per cent).
However, Abante Offshore, Fairtree Offshore and Fairtree L/S Offshore fell 5.62 per cent, 3.29 per cent and 2.15 per cent respectively.
Some of the key news items that occurred in the region included Algerian authorities launching an investigation into the
The Alternative Investment Management Association has warned that a provision of the Alternative Investment Fund Managers Directive that is currently being debated in Brussels is protectionist.
Aima’s expression of concern comes after the publication of the most recent AIFM directive compromise text by the current presidency of the European Council, Spain.
The new text is being debated by the AIFMD Council Working Group in Brussels this month.
The Spanish text reinstates a provision from the original draft that may result in EU investors such as pension funds being prevented from accessing non-EU funds and managers. The provision – Article
The UK space sector could soon expand due to recent forecasts that the global market will reach £400 billion by 2030, the Space Innovation and Growth Strategy 2010 – 2030 report has predicted, which c
IlliquidX, a financial services boutique which enables clients to price and trade illiquid securities, says it has had a strong start to 2010 with January traded notional volumes more than double those of December 2009.
IlliquidX currently has over EUR1bn of assets listed on its web based platform.
Celestino Amore (pictured), chief executive and founder of IlliquidX, says: “We had a bumper second half of 2009, and our rapid growth looks set to continue this year. Since starting operations in March 2009, we are now connected with over 600 participants in the European distressed debt and illiquid securities market.”
Hedge fund strategies ended the first month of the year down 0.94 per cent as stocks pulled back amid fears about the global economy and the fiscal health of some Eurozone countries, according to the Lipper Hedge Fund Composite Index.
Convertible arbitrage (-0.12 per cent) and credit focus (+0.27 per cent) led the performance league table for January.
In contrast, other hedge (-2.67 per cent) and managed futures (-2.79 per cent) were the worst performing strategies.
All equity-related strategies ended in negative territory in line with the global stock markets.
Meanwhile, trend followers also posted losses, hammered by a correction
