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Volatility spikes at the end of October hit many hedge fund strategies, with the Credit Suisse/Tremont Broad Hedge Fund Index returning a modest 0.13 per cent for an eighth consecutive month of positive returns, according to a report by Lipper.
The Broad Hedge Fund Index returned a year-to-date performance of 15.11 per cent.
All hedge fund strategies except equity market-neutral, long/short equity, and managed futures posted positive performance for October.
Posting its first month in the black after February this year, the best performing hedge fund strategy was dedicated short-bias (returning a remarkable 4.79 per cent), while the worst performing
The S&P GSCI increased 1.52 per cent in November led by the precious metals sector which gained 13.53 per cent, according to figures from Standard & Poor’s.
Year-to-date through November, the S&P GSCI is up 12.51 per cent.
“Commodity strength in November coincided with a 1.97 per cent decline in the US Dollar Index and a 6.00 per cent increase in the S&P 500 Total Return Index,” says Michael McGlone, director of commodity indexing at S&P Indices. “Also helping dollar-based commodities in November was the continued decline in US interest rates. The yield on the US two-year note declined
Swing Media Technology Group has entered into a SGD10m equity line facility with YA Global Master SPV, a fund managed by Yorkville Advisors.
Swing Media, a manufacturer and supplier of data storage products and peripherals, plans to use the funds for the group’s general corporate and working capital purposes and to further expand its core business and explore new ventures, including expansion into China green energy sector.
Matthew Hui, chief executive officer of Swing Media, says: “We are extremely pleased to welcome Yorkville as a long-term strategic capital partner. The partnership is an endorsement by the US-based fund manager
With the Madoff and other scandals still fresh in the mind and investors demanding that managers provide increased transparency, the hunt is on for software tools that meet clients’ portfolio
Opus Fund Services has opened an office in Chicago to concentrate on sales and marketing, back and middle office accounting, and client relationship management.
Stephen Giannone has been appointed as the firm’s president and will head the office.
He has previously worked in senior management positions at Bear Stearns and Deutsche Bank and most recently at hedge fund administrators Spectrum and Omnium (formerly Citadel Solutions).
Further additions to the team will be unveiled in the coming weeks.
"We are thrilled to establish our US operations footprint in Chicago and to expand our global management team with proven industry veterans," says
Marc Romano will join NewFinance Capital, the specialist fund of hedge funds wholly-owned by Schroders, as chief executive officer from 18 January 2010.
Romano joins from Credit Agricole Asset Management Alternative Investment where he was chief executive and head of multi-management business for the CAAM Group.
He will report to Marc Hotimsky, who will become executive chairman of NewFinance in addition to his responsibilities as chairman of the investment committee.
The strengthened management team at NewFinance will also include Benjamin Moute and David Mooney who have been appointed co-heads of investment.
Hotimsky says: “I am delighted to welcome Marc to
March Gestión de Fondos, Banca March’s investment management arm, has launched a global equity fund investing in companies linked to the production and sales of quality wine.
Vini Catena F.I. seeks to benefit from what the managers at March Gestión see as a favourable trend in this sector despite the current uncertainties in financial markets.
In terms of risk-return ratio, they consider the sector very attractive for diversifying investment portfolios.
The fund is headed up by Francisco Javier Pérez and Alejandro Muñoz, who are in charge of global equity and European equity respectively.
The fund’s managers have the support
The value of investment funds in Guernsey grew by GBP12bn, or seven per cent, in the third quarter of 2009, according to figures from the Guernsey Financial Services Commission.
This is a reverse of the trend experienced during the previous 12 months and takes the net asset value of funds under management and administration in Guernsey to GBP181.5bn at the end of September.
However, this still represents a contraction of GBP20bn (ten per cent) year on year.
Tom Carey (pictured), partner at law firm Carey Olsen, says the results support the growing optimism recently shown by many practitioners in the
With the returns of gold rivaling that of the US equity market, Standard & Poor’s has launched the S&P 500 Gold Hedged Index.
The index seeks to simulate the returns of an investment strategy which is long the total return of the S&P 500 stock market index and long gold futures contracts, allowing investors to participate in the returns of the US equity market while hedging against a decline in the value of the US dollar versus gold.
Standard & Poor’s has licensed UBS to create and launch investment products based upon the index.
“In a gold-hedged strategy,
Investment manager GLG Partners has appointed Sir John Gieve, the former deputy governor of the Bank of England, as a senior adviser.
Gieve (pictured) will be responsible for providing strategic advice to GLG on macro-economic and wider policy issues, particularly as they have an impact on the financial services sector and the regulatory environment.
His career includes 20 years at HM Treasury and culminating in three years at the Bank of England, where he was deputy governor responsible for financial stability and an ex officio member of the Monetary Policy Committee.
“Sir John has immense experience of financial markets and
