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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
D. Harris & Co. International, a law firm for the hedge fund industry, is opening an office in Zurich to service the growing number of hedge fund managers who have set up branches or relocated to Switzerland.
The firm advises hedge funds on their trading activities including credit, equity, fixed income, FX, interest rate, inflation, relative value and volatility swap trades.
DHCI will maintain its existing office in London.
Daniel Harris, managing partner, DHCI, says: “We are very excited about the prospect of doing business in Switzerland, which we see as an increasingly important financial centre. Our principal office will
List Group, an electronic trading software provider, has launched Brain3, a complex event processing and algorithmic trading engine, which provides buy and sell-side firms with a solution for the development of low latency, automated algorithms.
B3’s CEP engine enables real-time monitoring and analysis of event streams and the parallel development of customised and complex strategies.
Stefano Falciani, managing director of List UK, says: “B3 not only allows you to back test, but also measures the effectiveness of your algo’s interacting with previous day’s market data via a playback function or in real time by mirroring real time market data.”
B3
The Japanese economy expanded by 1.1 per cent during the last three months of 2009, which could interest hedge funds.
HSBC has appointed Chris Barrow as global head of sales for the recently launched HSBC Prime Services business.
He will be responsible for sales and marketing of the business, initially focusing the client strategy around hedge funds and institutional fund managers across Europe and Asia.
Barrow joins from Nomura where he was international head of sales for prime services.
Prior to that, he was head of sales and marketing for global equity finance at HSBC from 2004 to 2007.
Barrow has over ten years’ experience in the industry, joining Bankers Trust in 1998 and subsequently Deutsche Bank’s equity finance and
The RBC Hedge 250 Index fell 0.18 per cent in January 2010, following a gain of 0.73 per cent the previous month.
The best performing strategy in January was fixed income arbitrage with a gain of 2.44 per cent, followed by credit with a gain of 2.01 per cent.
Managed futures was the worst performing strategy in January, down 3.08 per cent.
The RBC Hedge 250 Index is an investable benchmark of the performance of the hedge fund industry.
LaCrosse Global Fund Services, a hedge fund administrator, is partnering with RiskMetrics Group, a provider of risk management and corporate governance services, to offer LaCrosse’s hedge fund clients access to RiskMetrics’ HedgePlatform Community.
LaCrosse’s clients can now access at no cost RiskMetrics’ RiskManager Investor Reporting Application, allowing them to create custom monthly risk reports for their investors.
"The addition of RiskMetrics’ new tools furthers our ability to create an accurate representation of a hedge fund’s risk, including understanding and verifying representation of risk, communicating risk to investors, and staying current on the latest risk methodology," says Mike Carpenter, managing director
Lloyds is expected to head up a “buying frenzy” that has hit the UK markets, a source has reported.
New figures have shown that quarter four (Q4) sales of ethical investments in 2009 were at their highest level since Q4 2007.
On the face of it, the past couple of years have not been kind to the British Virgin Islands and its role as a domicile and service centre for hedge funds.
