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Asia-focused hedge funds continued to build on strong gains posted in the first half of 2009, with the HFRI Emerging Markets: Asia ex-Japan Index returning nearly nine per cent in the third quarter, according to data from Hedge Fund Research.
Assets in Asian hedge funds climbed to USD73.7bn, including USD800m of new capital, the first net inflow of capital since Q2 2008.
While both emerging and developed Asia experienced performance increases and capital inflows, the performance based asset increases were concentrated in emerging Asia.
The percentage of Asian-focused firms headquartered in China is 23.2 per cent, reflecting an increase of
Ninety four per cent of respondents to a survey conducted by the CFA Institute Centre for Financial Market Integrity support mandatory requirements consistent with the proposed Alternative Investment Fund Managers Directive that managers of alternative investment funds act with honesty, fairness, and with the best interests of investors in mind.
The centre supports this notion as a necessary step to address issues of trust and the need for a more transparent market place.
Eighty per cent of respondents believe that alternative investment fund managers should be mandated to appoint an independent third party for the valuation of assets. The institute
Hedge funds monitored by Australian Fund Monitors returned 2.43 per cent in September, taking year-to-date performance to 14.75 per cent.
The ASX200 returned 5.90 per cent in September and has a YTD performance of 27.43 per cent.
The strength of underlying equity markets meant that the top five strategies in September were equity related. The best performers of 2008, such as global macro and commodities/CTA were well down the list.
There was only one negative strategy, equity income, with the continued rally causing some issues for sellers of volatility. The worst performing manager of the month at -17 per cent
Jupiter has opened its Financials Hedge Fund to external investment.
Established in May 2007, the Jupiter Financials Hedge Fund is a long/short fund that seeks to achieve steady returns, to preserve capital and limit volatility in all market conditions.
It has a global mandate that takes a distinct view per region and provides diversified exposure across a large number of financial sub-sectors and all market capitalisations.
The fund, which has some USD32m under management, has been managed on Jupiter’s hedge fund incubation platform since launch by financials specialist Robert Mumby, who has more than 30 years’ experience in the
BTIG, a broker dealer specialising in institutional trading and related brokerage services, has expanded its emerging markets fixed income platform with the addition of Alfredo Chang and Patrick O’Sullivan.
Both professionals bring more than 15 years of experience to the firm.
“Over the last nine months we have expanded our team to include 75 of the strongest fixed income professionals on Wall Street focused on serving our growing institutional client base,” says Jon Bass, co-head of global fixed income at BTIG. “Both Alfredo and Pat bring significant experience to this effort.”
Chang and O’Sullivan join the recently formed emerging markets
RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, has hired Mike Bass as a managing director and head of fixed income and currencies, Asia (non-Japan).
It has also appointed Mark Otis Zownir as a managing director and head of USD rates trading, Asia.
Both Bass and Zownir will be based in RBC Capital Markets’ Hong Kong office.
Bass brings over 20 years’ experience in fixed income and currencies to RBC Capital Markets. He joins RBC Capital Markets from Standard Chartered Bank, where he was most recently head of commodities in Singapore. Prior to
Chilton Investment, a manager of hedge funds and managed accounts, has named Jim Steinthal general counsel and member of Chilton’s executive committee and board of directors, effective 1 January 2010.
He will succeed Norm Champ, who is leaving the firm at year-end to join the Securities and Exchange Commission as associate regional director for examinations in its New York regional office.
Steinthal currently serves as managing director and general counsel of Chilton’s various hedge funds. Prior to joining the firm in 2000, he was associated with the law firm of Davis Polk & Wardwell for eight years.
Champ has served
WW Advisors, a UK-based real estate boutique providing investment and financing advisory services throughout Europe, has appointed Jonathan Edmunds as director to originate, analyse and execute deals.
Edmunds brings nine years of experience in real estate and a wealth of experience in the fields of consultancy, debt markets, corporate finance and direct investments.
Prior to WW Advisors, Edmunds worked in the corporate finance division of Lazard, advising listed real estate companies, private equity funds and hedge funds on mergers, acquisitions and asset disposals. He was previously at Deutsche Bank, working in the European commercial real estate group, underwriting real
Broadmark Asset Management has appointed Ricardo L. Cortez as president of global distribution.
Working out of Broadmark’s New York office, Cortez will oversee the expansion of Broadmark’s investment products worldwide with respect to direct sales, as well as the creation of strategic distribution partnerships with financial institutions.
"Broadmark is very fortunate to land a professional of Rick’s calibre," says Chris Guptill, chief executive and chief investment officer of Broadmark. "He brings his unique expertise in alternative and absolute return investing to a marketplace starved for exceptional alternative investment management. He will be instrumental in product development and strategic placement and
Altegris, a provider of alternative investments, is expanding its executive leadership team with the appointment of Ken McGuire as chief operating officer.
The newly created position reflects the firm’s commitment to enhancing operations amid rapid growth of its platform.
Effective immediately, McGuire will oversee the growth and development of APM Funds (Altegris Premier Managers), the Altegris flagship line of alternative investment solutions.
"Our mission is to provide a diverse selection of best-of-breed alternative managers that provide low correlation to traditional asset classes, at lower investment minimums," says Jon Sundt (pictured), president and chief executive of Altegris Investments. "Ken has an
