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BNY Mellon has been appointed as a provider of global hedge fund custody services by the Capula Global Relative Value Master Fund, the flagship fund investment managed by Capula Investment Management.
Neil McCallum, chief operating officer at Capula Investment Management, says: “We selected BNY Mellon as a global custodian as in the current economic environment it is important – to both the firm and to its clients – to have a provider with the financial stability to ensure the safekeeping of our assets.”
David Aldrich, managing director and head of alternative investment services EMEA at BNY Mellon, says: “BNY Mellon
Mourant International Finance has topped Lipper’s league table of fund administrators for funds serviced in Jersey.
Mourant had net assets of USD72.4bn at 30 June 2009.
The next largest administrator was Bedell Trust with net assets of USD22.4bn, followed by Saltgate (USD15.9bn), Aztec Group (USD13.7bn) and R&H Fund Services (USD13.5bn).
PricewaterhouseCoopers topped the Jersey auditor league table with 717 funds, followed by KPMG (373 funds), Ernst & Young (253) and Deloitte (105).
The custodian with the highest net assets at 30 June was BNP Paribas (USD20.2bn), followed by UBS (USD8.6bn) and Standard Bank (USD7.9bn).
Mourant du Feu & Jeune was
John Lowry, chairman and co-founder of ML Capital, has warned that many hedge fund managers do not realise their industry is undergoing a revolution.
Speaking to Latin American hedge fund managers at the fifth annual Hedge Funds World LatAm Conference, Lowry said new US and European regulations will force hedge funds into becoming mainstream investments.
Lowry said “In 2008, the MSCI World fell by 42 per cent, whilst the average hedge fund fell by 18.3 per cent. Many hedge funds demonstrated they offer significant benefits when used for their original purpose of creating steadier returns for their clients. My company’s
After four consecutive quarters of net withdrawals, hedge funds recorded a net asset inflow in Q3 2009, with investors adding USD1.1bn in new capital during the period, according to data released by Hedge Fund Research.
Hedge fund performance, as tracked by the HFRI Fund Weighted Composite Index, climbed 6.9 per cent in Q3, increasing year-to-date returns to 17.1 per cent through September.
These performance-based gains vaulted hedge fund industry assets to USD1.53trn in Q3 09, up from USD1.43trn at Q2.
Over two-thirds of all hedge funds experienced capital inflows in Q3, accounting for over USD38bn in new assets. However, these
In September the stock market persisted with the steady climb begun in February, as the S&P 500 index registered a significant gain (3.73 per cent) that was comparable to last month’s result, according to research by Edhec.
Implied volatility remained stable (25.61 per cent) for the third consecutive month, although still well above pre-crisis levels.
The commodities market quickly overcame last month’s loss with a significant gain (1.97 per cent). On the flip side, the dollar dropped again (-0.87 per cent) after last month’s stabilisation. After a pause in August, the emerging markets rose steeply again (9.02 per cent).
The
Hedge funds and private equity houses need to be prepared for a backlash in the wake of the credit crisis, according to Roland van den Brink, board member at Mn Services.
Speaking to pension funds and wealth managers at a recent seminar hosted by Rob van Kuijk, chief executive of Finles Capital Management, van den Brink said: “There is pressure on governments and at the EU-level for more regulation of the alternative investments industry. There is going to need to be greater transparency and pension boards will have to know what they are investing in. Returns, risk and rewards will
Managed futures gained 0.93 per cent in September, according to the Barclay CTA Index compiled by BarclayHedge.
The index is now up 0.05 per cent year-to-date.
Sol Waksman, founder and president of BarclayHedge, says: “Investor sentiment remained positive in September and equities extended their rally that began last March. Interest rates continued to decline as the G20 meeting and pronouncements from the Fed reassured market participants that there were no plans to raise interest rates in the immediate future.”
All of Barclay’s eight managed futures indices gained ground in September. The Diversified Traders Index was up 1.13 per cent, systematic
Fundamental supply and demand dynamics of the global sugar market mean sugar prices are set to rise, according to the latest sugar review from Czarnikow, the UK’s oldest sugar trader.
This is despite the recent fall in prices, which were down in early October to trade 20 per cent below the August high of 26.25c/lb.
“There has been a lot of liquidation recently on the part of investors,” Toby Cohen, director of research at Czarnikow, says. “Some new investors bought the sugar story based on weather problems in India and were panicked out of their positions as prices fell
Future Capital Partners, a GBP6bn alternative investment boutique, is to market a nine per cent yielding bond to UK and international retail and high net worth investors.
The Aramid Bond is a convertible redeemable bond which has been issued by the Aramid Entertainment Fund.
The bond offers investors a nine per cent net return on their invested capital which will be paid quarterly in arrears.
The bond issue will be limited to 15 per cent of the fund’s net asset value, which equates to a current offering to investors of GBP15m. The minimum investment is GBP47,000 or EUR50,000,
Yorkville Advisors, the US based investment manager to a family of funds, has entered into a KRW12bn equity line facility with Yujin Robot.
Under the terms of the facility, Yujin Robot may issue ordinary shares to Yorkville in tranches at prices based on certain criteria at any time over a 24 month period for up to a total of KRW12bn.
The investment was sourced out of Hong Kong and made by YA Global Master SPV, a Yorkville affiliated fund.
Yujin Robot is a Seoul, Korea-based technology company focused on development, manufacture and distribution of robots for residential, industrial and military
