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Richard Bookbinder, a hedge fund industry veteran and managing member of Bookbinder Capital Management, has co-written a book on hedge fund of funds investing.
Co-authored with hedge funds author Daniel Strachman, Fund of Funds Investing: A Roadmap to Portfolio Diversification, is written as a guide for institutional and high-net-worth investors interested in a clearer understanding of hedge fund of funds investing.
“We set out to develop a contemporary and reliable resource for investors, many of whom have expressed interest in hedge funds of funds, but don’t fully understand or appreciate the place these investment vehicles should occupy in their portfolios,”
Otkritie Financial has appointed Mikhail Belyaev as chief executive and chairman of the board.
Belyaev will be responsible for the overall operational management of the corporation.
One of his primary responsibilities will be to support the growth and development of the company, strengthening Otkritie’s position in both Russian and international markets.
Belyaev has a wealth of investment and stock market experience, the last four years of which have been with Otkritie as senior managing director. Prior to this he was deputy director for LenMontazhStroy Investment and chief executive for Kit Finance.
Vadim Belyaev who previously held this position, will
Ronald Paterson, partner at international law firm Eversheds. comments on concern expressed by AIMA this week over the AIFM Directive.
The potential consequences of getting this directive wrong, range from the unthinkable – a trade war with the US – to the merely disastrous, such as a serious reduction in the investment opportunities and investment returns available to investing institutions in Europe, and/or a major exodus of fund management businesses and their revenues from the EU.
AIMA, together with other trade bodies such as the Association of Investment Company (AIC) and the British Private Equity &
Law firm Maples and Calder has appointed Jon Fowler as the head of its investment funds group in the Cayman Islands.
David Brooks, previously the head of the investment funds group at Maples and Calder, has moved to the newly created post of chairman of Maples Finance.
Maples Finance is a full service fund administrator with USD30bn in assets under administration. It also provides independent directors to investment funds. Brooks continues to be a partner in the Maples and Calder funds group.
Global managing partner Henry Smith says the appointments better align resources within the firm for a year
Deutsche Bank’s managed account platform has created a dedicated sales team to capitalise on the growth in investor demand for alternative ways to access hedge funds.
Daniel Caplan (pictured) will be heading up the new team in addition to his role as co-head of prime finance sales and capital introduction in Europe.
"We estimate that over 20 per cent of new assets coming into the hedge fund industry in 2010 will do so via managed accounts,” says Caplan. “This is the result of a paradigm shift in the way investors look at hedge funds – they want greater
Centurion Fund Managers will make available the Defined Return Fund Longevity Plus class to high net worth investors.
The fund has previously only been available to institutional investors.
Professional investors will now have the opportunity to participate in a life settlement fund which has an annualised return of 9.5 per cent since inception.
David Rawson-Mackenzie, director of Centurion Fund Managers, says: “We originally set up this class for a specific institutional client, but over the past few months we have seen an increasing demand from both professional advisors and institutional investors for a fund that combines a long track record
Carne Global Financial Services, an independent adviser to the asset management industry, has appointed Penry Jackson as managing director and Alison Magrath as director of compliance services, Carne Dubai.
Jackson will focus on advisory services to asset managers including fund establishment, directorships and distribution.
Magrath will act as compliance officer to asset managers and provide compliance advisory services in the Gulf region.
Jackson has over 25 years’ experience in financial markets, formerly as managing director, head of Mena global prime finance, Deutsche Bank. Prior to that role, he held a number of senior roles in Deutsche Bank’s global prime
Convergex Group, a provider of investment technologies and execution solutions, has launched a tactical trading algorithm designed for orders requiring careful execution.
Using a proprietary multi-dimensional sensitivity profile, Abraxas aims to exploit hidden liquidity, favourable price movements and volatility changes, while navigating difficult markets.
Abraxas is available to clients through all major OMSs, EMSs and through Convergex’s electronic trading desk.
Additionally, Abraxas has been deployed on Convergex’s high-touch desk, where Convergex leverages high performance technology on behalf of clients.
“Abraxas employs highly adaptable technology and simultaneously uses a mix of different order types to rapidly respond to changing
Hedge funds investing in emerging markets reversed sharp 2008 losses with strong gains in 2009, as the HFRI Emerging Markets (Total) Index gained 40.4 per cent for the year, according to data released by Hedge Fund Research.
This rate of return doubled the overall industry gains as represented by the HFRI Fund Weighted Composite Index, and was led by funds investing in Russia, Latin America and emerging Asia.
Assets invested in emerging markets hedge funds increased by USD25bn during 2009 to over USD93bn, as performance-based gains of USD34.3bn more than offset total investor withdrawals of USD8.5bn.
Withdrawals were significant in
The Credit Suisse/Tremont Hedge Fund Index rose 0.17 per cent in January.
Overall, fund managers largely escaped the downswings experienced by equity markets during January and the top performing sectors included fixed income arbitrage (2.02 per cent) and event driven (1.42 per cent).
Fixed income arbitrage managers found various profit generating opportunities amid the fall in risky assets while gains in the event driven space were largely driven by profitable credit positions and hedging strategies that mitigated equity losses.
Other positive performances were recorded by convertible arbitrage (0.97 per cent), global macro (1.07 per cent) and multi-strategy (0.56 per cent).
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