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Citi has been awarded a mandate by Crabel Capital Management to provide a portfolio of hedge fund administration services.
Citi will be delivering portfolio accounting, fund administration, monthly NAVs, daily P&L and weekly and month-end estimated NAVs.
“As we manage to the next level of development for our business, we realized we needed to outsource these operational functions so that we could concentrate on our profitable growth. Citi was the ideal partner for our future growth and has the capacity to take on our high volume business,” says Kathryn Daley, chief operating officer, Crabel Capital Management. “After we conducted a
XS Investments, a placement and advisory firm for alternative investments managers, has expanded its senior team with the appointment of Steven Tack and Josephine Defty.
Tack will join as partner with responsibilities for the Nordic region and Defty will join as director with responsibility for the UK.
Tack, who worked for Russell Investments for over 13 years in London, Johannesburg and Amsterdam, was most recently managing director heading the Amsterdam office with responsibility for Russell’s Northern European business. He will be based in Amsterdam.
Defty was previously vice president within the client services team at Pantheon Ventures, part of Russell
Oakley Capital, an investment management, private equity and advisory firm, has re-branded its fund of hedge funds division as Oakley Alternative Investment Management.
Oakley Alternative Investment Management will continue to be a division of Oakley Capital and will continue to oversee the company’s flagship fund of hedge funds, Oakley Absolute Return.
The new name signifies the intention of the division to expand its alternative investment product range under the Oakley Alternative Investment Management banner.
Oakley Absolute Return has had an annualised return since inception of 8.06 per cent while remaining focused on downside protection. Since expanding the institutional investor
Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index will finish up 2.29 per cent in November, based on 71 per cent of assets reporting.
Hedge funds regained momentum in November following October’s muted returns. A number of global macro (+3.93 per cent) quant funds had their best month of the year which helped make up some of their losses in the second and third quarters.
Gains came mainly from long positions in equities and gold as well as from bullish views on US and UK bonds.
The USD carry trade remained popular among global macro managers as the Reserve
Guernsey’s Chief Minister Lyndon Trott has told a major London conference that the island should not be “dismissively” compartmentalised as an offshore centre.
He was speaking at The Future of Onshore and Offshore Financial Centres Conference alongside Jeffrey Owens, director of the Centre for Tax Policy and Administration at the OECD, and Michael Foot, chairman of the Promontory Financial Group and author of the recent HM Treasury commissioned report into the British Crown Dependencies and overseas territories.
The Chief Minister said the onshore/offshore distinction was outmoded in the modern globalised economy.
Instead he highlighted the island’s position in the Global
Quod Financial, a provider of adaptive trading execution technology, has pre-loaded its Adaptive Smart Order Router with a library of trading algorithms for better execution and lower market impact.
Ali Pichvai, chief executive of Quod Financial, says: “The days of separate infrastructure for scheduling and execution of orders are gone. By combining the trading and liquidity seeking algorithms, QF ASOR hunts lit and dark liquidity to maximise fill rate and makes real-time decisions to reduce market impact.
“This is achieved through historical data, real-time analysis of pre- and post-trade data and the execution algorithms embedded in Quod Financial’s Adaptive Execution
NYSE Euronext’s trading volumes for its global derivatives and cash equities exchanges in November 2009 were mixed, with European derivatives and US options trading volumes increasing while US and European cash equities trading volumes fell.
NYSE Euronext European derivatives products average daily volume in November 2009 of 4.3 million contracts increased 16.4 per cent compared to November 2008, and increased 11.2 per cent from October 2009.
Total European interest rate products ADV in November 2009 of 2.3 million contracts increased 31.2 per cent compared to November 2008, and increased 16.4 per cent from October 2009 and are at their highest
The past 12 months have demonstrated graphically the vital importance for investors in alternatives of minimising the downside risk associated with extreme market conditions.
Fixnetix, a provider of ultra low latency market data and trading infrastructure connectivity services, will provide trading access to EDX London and a direct market data feed for financial institutions trading in Russian and Nordic derivatives on Sola, TMX Group’s trading technology platform.
Fixnetix customers can take advantage of the company’s raw exchange access or feed handler technology to gain ultra low latency market data from EDX London’s common order book.
Fixnetix’s 10GB+ point-to-point high-speed fibre backbone infrastructure connectivity services will also make trading on EDX London easier and more cost effective.
By offering a direct feed from EDX London,
The HFRI Fund Weighted Composite Index gained 1.75 per cent in November, bringing year-to-date gains to 18.8 per cent and keeping the industry on pace for the best calendar year performance in a decade.
According to Hedge Fund Research, the index gained 19.55 in 2003 and 31.3 per cent in 1998. Inclusive of YTD gains, the industry is 5.7 per cent from the all time performance peak set in October 2007.
Macro funds posted the strongest gains, adding 2.54 per cent, with the strongest contribution from systematic macro strategies.
Funds focusing focused specifically on the commodity metals gained more
