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Highland Capital Management, an investment management firm based in Dallas, Texas, has closed its CLO Value Fund I with a gross return of 138 per cent to its investors.
Highland launched the CLO Value Fund I in November 2008 to primarily invest in secondary collateralized loan obligation debt and equity.
Highland thought it would be prudent to close the fund and return all capital to its investors in order to realise gains. The fund originally had a 2014 maturity date.
Gibran Mahmud, portfolio manager of the CLO Value Fund I, says: "Coming off the success of our first CLO Value
CME Group has reported fourth quarter GAAP revenues of USD667m and GAAP operating income of USD402m.
Fourth quarter net income on a GAAP basis was USD203m and diluted earnings per share on a GAAP basis were USD3.04.
The 2009 GAAP results reflect the operations of Chicago Mercantile Exchange, Board of Trade of the City of Chicago and New York Mercantile Exchange and include reductions in net income of USD22m, consisting of an impairment charge of USD24m on its investment in the Dubai Mercantile Exchange and net favourable impacts to net income of USD2m related to the ERP settlement.
The 2008
Ignis Asset Management has entered into a partnership with Castle Hill Asset Management.
Castle Hill is a credit investment manager with more than USD2.0bn of gross assets under management.
These assets include sub-advisory mandates from Ignis invested across two leveraged loan portfolios as well as one long-short credit portfolio.
Castle Hill has also launched the Castle Hill Total Return Fund, a hedge fund focused on opportunistic credit strategies and capital structure arbitrage. The fund has been seeded with approximately USD50m of capital by Castle Hill employees and associates.
Ignis will hold a 49 per cent interest in Castle Hill and
Long/short equity headed the list of investable Alternative Investment Indices in February, with a month-to-date performance of 0.37 per cent.
The indices are provided by Alternative-Index and listed on the Vienna Stock Exchange.
Since the beginning of the year the outperformance of the Long/Short Equity Index against the S&P500 is 3.26 per cent, and 5.06 per cent against the DAX30.
The LSX outperformed its peer, the HFRX Equity Hedge Index, by 1.21 per cent month-to-date.
The LSX is an investable benchmark of the performance of the alternative investment sub-strategies long/short equity long bias, long/short equity variable bias, long/short equity
James Thornton, Fund Director at Mayfair Capital Investment Management comments on the results of the IPD’s latest survey of the UK property market.
The IPD this week released the results of its Annual Index for 2009. At a positive return of +3.4% this confirmed the recovery indicated by the smaller sample measured by the IPD Monthly Index.
The positive return seen in 2009 looked unlikely at the mid-year point when yields rose by 80 basis points and came back by 100 basis points in H2.
Whilst yields have rebounded from an oversold position, what is surprising is that yields have
A recent survey by TKS Solutions has revealed that ten per cent of alternative investment funds have considered switching administrators during the past 12 months due to issues stemming from timeliness and accuracy of partner and shareholder accounting reports.
Accuracy of third-party accounting and partner reporting are considered mission critical in attracting and retaining investors, yet many administrators continue to struggle with managing the nuances of each fund’s fee structures and reporting requirements.
Lacking a sophisticated, yet flexible back-office accounting system, administrators often rely on manual procedures and spreadsheet-based record-keeping, resulting in both staff inefficiency and error prone processes.
TKS
Aegon Asset Management is launching a global opportunities fund targeting investors wanting global macro exposure.
The AEGON Global Opportunities Fund aims to provide institutional and professional retail investors with competitive absolute returns from a diversified global portfolio.
It is a Dublin registered Ucits III fund which is available to investors in Ireland, the Netherlands, the UK and going forward across Europe.
The launch marks the integration of Aegon’s asset management businesses across the world, and this fund brings together the investment management expertise of the teams in the Netherlands and the UK.
The fund will have a discretionary global macro
Aros Capital Partners, the recently launched Anglo-Danish hedge fund manager, has strengthened its marketing team with the appointment of Louise Wachtmeister.
The hire comes ahead of the Q2 launch of Aros Altru, an altruistic fund which aims to challenge the notion that social impact investments are a trade off with commercial returns.
Wachtmeister, who will be based in London, is also supporting the existing Aros Paradigm Fund. She will be focusing on business development with particular emphasis on family offices.
Wachtmeister previously worked for NetJets, a Berkshire Hathaway company, where she helped develop their Scandinavian client base.
She joins
A Greenwich Market Pulse shows that corporations and financial institutions around the world broadly agree that moving OTC derivatives trading to a system of centralised clearing would be an effective means of managing both counterparty risk at an individual level and market-wide systemic risk.
However, financials and corporates also have some serious concerns about the ongoing process of market structure reform.
Some of these concerns stem from the fact that market participants are uncertain about details of the proposals being considered.
Other concerns involve more informed questions among users of OTC derivatives about how the switch to centralized clearing
BMO Financial Group has signed a subscription agreement for access to Algorithmics’ Algo First database of case studies, covering more than 9,000 operational risk events.
BMO selected Algo First to supplement its management reporting, risk identification and risk awareness initiatives.
Hamish Lock, head of operational risk and senior operational risk officer for BMO, says: “We decided to subscribe to Algo First because we needed a way to expand our knowledge and understanding of significant operational risk events that could be used to challenge BMO’s operational risk profile.”
Penny Cagan (pictured), a managing director at Algorithmics, adds: “I am delighted
