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The market’s stellar run continued in September to put the ASX200 index into positive territory over the last 12 months, according to Australian Fund Monitors.
The ASX200 rose 5.90 per cent in September and 3.10 per cent over the last 12 months, with year-to-date performance up 27.43 per cent.
Funds monitored by Australian Fund Monitors’ hedge fund indices rose 2.68 per cent in September and 15.29 per cent YTD. Equity based funds rose 3.48 per cent in September and 20.93 per cent YTD, while non-equity based funds rose 1.33 per cent in September and 7.45 per cent YTD.
AFM says
Frontier market investment banking boutique Exotix has expanded its fixed income team with two senior appointments.
Alexey Lytvynov and Toufic Yafaoui have joined Exotix to cover Russia and CIS, and Turkey, North Africa and the Middle East respectively.
The appointments will enable Exotix to offer a new range of local products to existing clients, in addition to capitalising on local appetite for its current range of products.
Lytvynov – whose remit is to develop the firm’s Russian credit business – joins Exotix from Commerzbank, where he worked in fixed income sales covering Russia and CIS. Prior to joining
Cheyne Capital has appointed Max Nardulli as head of international sales and distribution.
In this newly created position, Nardulli will be responsible for the marketing of Cheyne’s expanding range of products globally, excluding the UK.
Nardulli joins Cheyne from Goldman Sachs Asset Management where he was a managing director, head of the alternative capital markets team responsible for EMEA and Asia ex-Japan.
Prior to this, he was responsible for GSAM business development in southern Europe, Israel and Latin American. He joined Goldman in 2001.
Jonathan Lourie, co-founder of Cheyne, says: “We are delighted to welcome Max to Cheyne
Managed futures managers delivered healthy returns for September—their third positive month in 2009—as trend-following models were able to capitalize on significant market trends, according to a report by Lipper Tass.
The sub-strategy posted a 1.41 per cent return on average for the month, minus 0.44 per cent since the beginning of the year, and positive 7.29 per cent for the rolling 12-month window in US-dollar terms.
The degree of dispersion among individual fund returns declined from the previous month’s reading. A 28.17-percentage-point monthly performance difference in September divided the top and bottom performers of the actively reporting managers tracked by
LaCrosse Global Fund Services and Tradar have formed an alliance to provide alternative investment firms, including hedge funds and private equity, with outsourced administrative expertise and portfolio management technology.
Tradar clients will have the opportunity to take advantage of LaCrosse’s expertise in fund administration and middle-office services that cover everything after the trade, including facilitation of prime broker communications, trade confirmation and confirm review, settlement of non-prime broker transactions, reconciliations, cash and collateral management, distressed debt operations, derivatives operations, valuation, profit and loss, net asset value estimation, and fund administration.
LaCrosse Global Fund Services’ clients will benefit from Tradar’s flagship
Jersey companies have been approved for listing on the Hong Kong Stock Exchange.
The move is a significant development for Jersey’s finance industry, which is seeking to increase business flows from the Asia Pacific region.
The formal inclusion of Jersey companies on the Hong Kong Exchange’s approved list of companies able to float on its exchange is the result of more than a year’s negotiation, research and document preparation involving government officials in Jersey, representatives from Jersey Finance and the finance industry.
The approval enables Jersey’s finance industry to compete on an equal footing with other competitor jurisdictions, which have
Eze Castle Integration, a provider of IT services, consulting and technology to hedge funds and investment firms, has launched Eze CRM Powered by Dynamo 6.0, the newest addition to its managed services.
Eze CRM is a web-based solution that provides hedge funds and alternative investment firms with instant access to critical customer information, helping them strengthen investor relationships, increase reporting options and provide greater transparency.
Eze CRM is managed and supported by Eze Castle’s technical staff and delivered via software-as-a-service, providing industry-specific functionality that is deployed quickly and maintained easily, with less infrastructure and upfront capital than traditional client-server applications.
The Morningstar 1000 Hedge Fund Index climbed 7.4 per cent during the third quarter of 2009 and 17.2 per cent through the first nine months of the year.
The currency-hedged Morningstar MSCI Hedge Fund Composite rose 6.1 per cent for the quarter and 12.1 per cent for the year through September.
"Paced by an exceptionally strong September, hedge funds began to regain their swagger in the third quarter," says Nadia Papagiannis, Morningstar alternative investments strategist. "The road to recovery for hedge funds was paved by strong performance in riskier asset classes such as emerging markets, distressed, and small-cap securities."
But
State Street has made enhancements to its fund of hedge funds service offerings, which build on its suite of services spanning the hedge fund investment cycle.
Fund managers can now benefit from a combined full-service solution that includes not only custody, fund accounting, cash management, registration, risk services, investor services and credit, but also integrated portfolio construction tools that incorporate current and prospective fund investments.
The enhanced fund of hedge funds service offering provides ease of access to State Street’s fund administration services through a proprietary, web-based platform, AlphaFrontier, designed specifically to meet the needs of State Street’s fund of
The US Commodity Futures Trading Commission will make available more than three years of history of disaggregated data included in the weekly commitments of traders reports.
History for the 22 commodity futures markets currently contained in the weekly disaggregated COT reports, first published on 4 September 2009, will be available starting 20 October 2009.
“Economists have for decades recognized that transparency benefits the marketplace,” says CFTC chairman Gary Gensler. “Last month, we began disaggregating data included in our weekly reports to give the public a more accurate depiction of the makeup of the commodity futures markets. By releasing three
