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The Hennessee Hedge Fund Index declined 0.50 per cent in October, bringing its year-to-date performance to +20.12 per cent, according to the Hennessee Group.
The S&P 500 fell 1.98 per cent (+14.72 per cent YTD), the Dow Jones Industrial Average was unchanged (+10.67 per cent YTD), and the Nasdaq Composite Index declined 3.64 per cent (+29.68 per cent YTD). The Barclays Aggregate Bond Index advanced 0.49 per cent (+6.24 per cent YTD).
“After seven months of positive gains in the equity markets, the liquidity driven rally showed signs of weakness,” says Charles Gradante, co-founder of Hennessee Group. “So far, this
Tora, a technology, trading and liquidity provider for Asia, and Tradar, a supplier of portfolio management and accounting solutions to the hedge fund industry, have completed the integration of Tradar Insight with Tora Compass.
The integration provides continuous, real-time posting of orders executed in Tora Compass to individual portfolios and provides traders with an up-to-the-minute view of positions, P&L, instrument and currency exposures.
“Tora’s clients are among the most prominent and sophisticated traders in Asian markets,” says Tony Swei, chief executive of Tradar. “We are delighted to partner with Tora to enable these clients to record and warehouse trading histories,
The Hedge Fund Association has made progress on its Speak Up campaign, which seeks to ensure that regulation of the hedge fund industry meets government concerns without imposing over-reaching measures that make it costly for small funds to operate.
HFA president David Friedland says the HFA is not opposed to additional regulation and registration or reporting requirements.
"The HFA is open to working with Congress to ensure that any regulation is cost effective and achieves objectives that both Congress and the industry need."
Friedland says all hedge funds are already subject to certain rules and regulations, including SEC anti-fraud provisions.
Although investment managers have relatively few assets in equity long and short investment portfolios, this segment of the market continues to grow rapidly as firms seek to diversify their business lines and compete with hedge funds, according to a report by Pershing and Finadium.
This new competition for assets has pushed some hedge funds into long-only investment strategies and others towards retail distribution.
The report suggests that investment managers will become more important to hedge funds as potential partners in product offerings and mergers and acquisitions.
Investment managers’ control of equity long and short investment portfolios is expected to rise
NYSE Technologies, the commercial technology unit of NYSE Euronext, is actively expanding its SuperFeed product suite to Asian markets.
SuperFeed is NYSE Technologies’ fully managed and hosted data ticker plant, with microsecond latency and coverage of major markets in North America, Europe, and now Asia.
SuperFeed Asia currently provides access to the Hong Kong Stock Exchange’s price reporting system derivatives feed and market data feed cash feed via its Hong Kong data centre, with plans to expand to other major Asia-Pacific markets in 2010.
“SuperFeed is one of our most comprehensive and flexible market data products globally, delivering microsecond
Alarmist calls by some US commentators that the securitisation of life settlements could turn into the next sub-prime disaster were universally rejected at a recent major industry conference in Washington DC.
Assured Fund – the UK’s biggest provider of US senior citizen life settlement policies – reports that the conference concluded overwhelmingly that the market infrastructure did not exist for the securitisation of life settlements.
A recent article in the New York Times flagged up the life settlement industry as the next “big thing” on Wall Street, bringing the dynamics of the asset class to the fore for many potential
BNY Mellon’s alternative investment services business has been selected by Tribridge Investment Partners as fund administrator for its new hedge fund, Tribridge Asian Special Situations Fund, which launched in September.
The Tribridge Asian Special Situations Fund will invest in stressed and distressed credits across Asia Pacific, including Australia, New Zealand and Japan.
Fundamental credit research will be used to identify mis-priced/undervalued securities due to either financial stress or the probability of a corporate event. There will be no investments in private equity or direct lending.
This fund will join Tribridge’s stable of four other funds bringing total firm assets to
International law firm Maples and Calder says it is the only law firm in Ireland to increase its market share ranking as legal adviser to investment funds over the past year.
In a declining overall market, Maples, which established in Ireland in 2006, has significantly increased its market share as legal adviser to both domiciled and non-domiciled funds serviced in Ireland.
Despite a modest decline in the overall number of funds serviced in Ireland over the past year, Maples has increased its share by 320 per cent from seventh to third place with a market share of 15.6 per cent
The global downturn has forced hedge fund managers to respond swiftly and radically to the demands of investors, according to a survey published by Ernst & Young.
The survey, Weathering the storm, was conducted by Greenwich Associates and polled 100 of the world’s largest hedge funds.
It highlights the significant changes to the governance, fund administration and investor reporting in funds over the last year, all of which have enhanced investor confidence without significant additional cost to the fund.
Respondents believe that increases in transparency and governance brought on by the crisis represent dramatic improvements for investors. They see this
Dow Jones Hedge Fund Indexes has temporarily suspended publication of the Dow Jones Hedge Fund Equity Market Neutral Strategy Benchmark until further notice.
The decision to halt publication of the benchmark is a result of market conditions in the equity market neutral space, and was made jointly by Dow Jones Hedge Fund Indexes and Lyra Capital – a subsidiary of CASAM – the investment manager of the managed account platform that supports the Dow Jones Hedge Fund Strategy Benchmarks.
Index values for the Dow Jones Hedge Fund Equity Market Neutral Strategy Benchmark are available through 5 November 2009.
The remaining
