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Salus Alpha has launched a commodity arbitrage fund which aims to take advantage of the difference between the S&P GSCI Total Return index and the S&P GSCI Spot Index.
As of 13 November 2009, the Total Return Index had a year-to-date performance of 10.16 per cent, while the Spot Index had a performance of 43.78 per cent – a difference of nearly 34 per cent.
According to Salus Alpha, investors hoping for 43 per cent but only earning ten per cent would have had a chance on a 34 per cent return with an investment in the Salus Alpha Commodity
Aladdin Capital Holdings has strengthened its credit hedge fund offering by acquiring Solent Capital Partners’ synthetic collateralised debt obligation business.
Neal Neilinger (pictured), chief investment officer at Aladdin Capital, says: “There is an incredible momentum within the firm not only in the growth of our investment banking business but also of our asset management platform. This year has seen us build out significant hedge funds in both DIP and TALF.”
Jonathan Laredo of Solent Capital says: “We are convinced that the strength and depth of the existing Aladdin Credit team will add significant value to the investors in the
A majority of investors expects the US Federal Reserve to hold off from raising interest rates until the second half of 2010, according to a survey by BofA Merrill Lynch.
Asked when they think the Fed will first increase rates, more than three quarters of the panel predict the second half of 2010 or beyond. One in six respondents believes the Fed will not act before 2011.
While inflation has become a nagging worry for investors, they have expressed no conviction that they expect more than a minor increase from the current low level. A net 47 per cent
Advisory firms face new vulnerabilities caused by a powerful combination of risks, according to a white paper released by SEI.
The Risk Dynamic examines how five distinct, yet interrelated, risks compound firm pressures, such as diminished operating margins and revenues, increasing client demands and industry scandals and struggles.
It draws on survey findings, third-party industry research, and perspectives from among the more than 6,000 independent financial advisors who work with the SEI Advisor Network.
The types of risk include:
1. Infrastructure, which is related to deficiencies in internal business processes and the technologies that support them;
2. Organisational, a risk driven by
Australian hedge funds rose marginally by 0.09 per cent in October, bringing their year-to-date performance to 14.85 per cent, according to Australian Fund Monitors.
Hedge funds performed less well than the previous month, when they rose by 2.20 per cent.
Equity based funds rose by 0.11 per cent in October (21.17 per cent YTD), while non-equity based funds rose by 0.05 per cent (6.77 per cent YTD).
Fund of funds increased by 0.19 per cent in October (5.37 per cent YTD) and single funds rose marginally by 0.07 per cent (18.01 per cent YTD).
The best performing strategies in October
Alps Advisors, a provider of outsourced and advisory solutions to the investment management industry, has launched the Alps|GNI Long-Short Fund.
GNI Capital, a South Carolina-based long/short equity investment management firm, will serve as sub-adviser for the fund.
The fund is designed to achieve long-term capital appreciation with a particular emphasis on preserving capital during difficult markets.
The fund represents Alps’ latest addition to its Financial Investors Trust. In September, the Denver firm announced the adoption of the Activa Value Fund, sub-advised by Wellington Management, to its boutique investment line-up.
"With our special focus on offering important investment strategies with better
Although managed futures lost 0.77 per cent in October assets under management have increased significantly in recent months, according to the Barclay CTA Index compiled by BarclayHedge.
“Even though the Barclay CTA Index is down 0.66 per cent in 2009, assets under management in managed futures investments increased by USD15.2bn in the third quarter of 2009, to USD212.6bn,” says Sol Waksman, founder and president of BarclayHedge.
“In spite of recent lacklustre performance by CTAs, investors have been quietly coming back to managed futures.”
Industry assets under management peaked at USD234.1bn at the end of the second quarter of 2008.
Despite
Guernsey law firm Collas Day has boosted its funds practice with the recruitment of Wayne Atkinson and Susan O’Leary.
Atkinson joins the firm as a senior associate from international firm Walkers in the British Virgin Islands where his practice focused on investment funds and general corporate transactions.
Prior to Walkers Atkinson worked in London at Herbert Smith in the firm’s investment finds and regulatory team.
O’Leary (pictured) moved to Guernsey from Dublin firm Dillon Eustace at the end of the summer. Her expertise covers investment funds and financial services. During her time at Dillon Eustace, O’Leary was seconded to
BTIG Australia, a broker dealer specialising in institutional trading and related brokerage services, has expanded its Australian presence with four senior hires.
BTIG has brought on Darin Lester, David McConnell, Dustin Westblade and Trevor Harrison to further build out its Australian business and to expand its presence in the broader Asian region.
These new hires increase BTIG’s Australian team to 11 professionals.
Lester, McConnell and Harrison will be based in Sydney. With the addition of Westblade, BTIG will now have coverage and representation in Melbourne.
“Our business model, which we believe is relatively new to Australia, has positioned us well
The Credit Suisse/Tremont Hedge Fund Index finished relatively flat in October, up 0.13 per cent, as a result of increased market volatility.
This brings year-to-date performance of the index to 15.11 per cent.
Dedicated short bias led the performance among sectors, returning 4.79 per cent in October, as managers took advantage of sell-offs in equity markets.
Other notable sectors included fixed income arbitrage and convertible arbitrage, which finished up 1.94 per cent and 2.16 per cent respectively for the month.
On the other hand, long/short equity was down 1.21 per cent after three months of consecutive gains, primarily as a
