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Hedge funds posted an estimated outflow of USD3.8bn in December 2009, according to TrimTabs Investment Research and BarclayHedge.
December’s outflow is the industry’s first since July 2009.
At the same time, hedge fund assets grew to a 12-month high of USD1.5trn thanks to an unprecedented ten-month winning streak.
“December’s relatively small outflow is almost certainly seasonal, a product of quarter-end and year-end redemptions,” says Sol Waksman, chief executive of BarclayHedge. “Hedge funds experienced outflows in December in each of the past five years, and we suspect inflows have already resumed.”
In addition, funds of hedge funds posted an estimated outflow
Hector Sants is to stand down from his job as chief executive officer of the Financial Services Authority (FSA).
Last year the British Virgin Islands Financial Services Commission released for public consultation the draft Securities and Investment Business Act.
Knight Capital Group has introduced algorithmic pairs trading capabilities for institutions designed to increase fulfillment rates through improved liquidity sourcing and a flexible interface.
Knight’s pairs trading capabilities include access to Knight’s liquidity in addition to displayed and dark markets using FAN technology.
It has the flexibility for traders to create their own strategies and support for complex pairs trading strategies, including multiple combinations of single securities, inverse pairs and set-up and unwind functionality in a single pair.
"The market environment in 2010 is ideally positioned for pairs trading strategies," says Joseph Wald, managing director, Knight Direct. "After the turmoil
Hedge funds are treating the Chinese markets with awe and fear due to uncertainty over the successfulness of government policy.
Political changes in the US have highlighted the importance of solar energy positioning for hedge funds specialising in environmentally-friendly investments.
The Institute for Global Asset and Risk Management is launching an online library and continuing education centre featuring current research on investment management, risk management, economic trends and regulatory frameworks.
Ingarm’s mission is to provide an open platform that facilitates the exchange of information, transparency and research among governments, policy makers, academics and the investment management community.
Garry B. Crowder, Ingarm director, says: “Our goal is to support a global education and research initiative that provides academic research and intelligent discourse on current economic, regulatory and market issues. The text books or reference materials often used by regulators and
International Asset Management, one of the oldest fund of hedge funds managers, is opening a branch office in Spain to expand its client base and service in Iberia.
Marivi Lorente has been appointed general manager for the Madrid office.
She will be responsible for developing IAM’s client base in Southern Europe and its relationships with clients across the region.
Lorente has long-standing experience in the alternative and traditional asset management spaces. She previously worked at Santander Investments, N+1 Group as a partner of hedge funds asset management and at Alpha Value Management as a partner.
Morten Spenner (pictured), chief executive at
Cowen Group is planning to streamline its alternative investment management business through the integration of the senior management and certain aspects of the infrastructure of Ramius’ hedge fund and fund of funds businesses.
The organisational developments aim to facilitate efficiencies within the Ramius alternative investment management business to better serve the needs of clients and position the business for future growth.
Effective immediately, Thomas W. Strauss will be the president and chief executive of this integrated unit and Morgan Stark will be the chairman and head of macro strategies.
Strauss will be responsible for the daily running of the business
By Michael Bane – Ernst & Young’s Partner and Channel Islands Asset Management Leader sumarises the results of the firm’s annual global survey of the hedge fund industry
At Ernst & Young, we have recently completed our annual global survey of the hedge fund industry. 100 funds with USD680 billion of equity, representing about half of the industry, were surveyed with a deliberate bias towards some smaller funds, particularly in Asia. Respondents’ views are summarised below.
There is a significant belief that the response forced by the market has been radical, rapid and productive for investors who are benefiting from
