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iCapital, a global fintech platform focused on access and efficiency in alternative investing for the asset and wealth management industries, is to acquire UBS Fund Advisor, UBS’s legacy proprietary US alternative investment manager and the feeder fund platform it manages.
Julian Robertson, founder of Tiger Management and the mentor to a generation of ‘Tiger Cub’ hedge fund managers, has died at the age of 90.
Fraser Seiten, a longtime spokesperson for the billionaire investor, said on Tuesday that Robertson passed away at his home in New York from “cardiac complications”.
Roberston founded Tiger Management in 1980 with $8.8 million and grew the business to around $22 billion by mid-1998 with average annual returns of 32%. He shuttered the firm’s six funds in 2000 after assets dwindled to $6 billion over an 18 month period following a losing bet on the
Eventus, a global provider of multi-asset class trade surveillance and market risk solutions, has appointed Robbie McDonnell as sales director, Australia & New Zealand.
McDonnell is a nearly 30-year veteran of financial markets technology, serving in a variety of senior roles, including in global sales and regional expansion in the Asia-Pacific (APAC) region.
Based in Sydney, McDonnell reports to Scott Leader, the firm’s managing director, APAC.
Eventus, based in the US, has been rapidly growing its presence and client base in the APAC region, with experienced staff members now on the ground in Hong Kong, Singapore and the
Following very strong performance throughout 2021 and a weak first quarter, hedge funds had further muted returns in Q2 – with commodities and hybrid capital funds again coming out on top – according to data from Citco.
Analysing funds it administers, Citco’s 2022 Q2 Hedge Fund Report found that funds fell into negative territory for a second quarter running with a -6.81% overall weighted average quarterly return, with all AUA categories and all strategies – bar commodities at 4.58% and global macro at 0.79% – delivering negative returns. Over the quarter, 32.81% of funds delivered a positive return, a drop from
Pension funds and other institutional investors closely focused on protecting their portfolios and seeking out sources of potential return in Q2 2022, despite ongoing volatility, as both bond and equity markets plummeted.
The treasury function within a hedge fund can provide meaningful additional value and cost savings, if it is managed in an effective and efficient manner. However, many managers are not yet prioritising it, to the potential detriment of their investments and their clients. With regulation striving for greater transparency requirements the need to focus on this function is anticipated only to increase.
“It’s about understanding the magnitude of the costs and money at stake,” stresses Chris Hagstrom, CEO at Kayenta, “Hedge funds are paying banks billions of dollars a year in financing payments, and its likely to be the biggest
Compliance requirements for hedge funds have been on a steady upward trajectory since the global financial crisis. In some cases, this has led to the breakdown of a tangible connection with portfolio managers, as the business is often too concerned with ensuring nothing is missed. Technology can help bridge this gap.
“The industry has moved towards consolidation of applications. But although these ‘mega applications’ have made many things possible, they also made tailored firm-wide compliance almost impossible,” describes John-Peter Lee, owner, of Metaframe Technology Solutions, “They were forced into it by the rising compliance needs and as a result, that flexibility
In times of market uncertainty, risk functions at prime brokers (PBs) manage their client risk exposures more dynamically. Their role is to ensure enough margin is charged and collateral is held in a variety of “risk-off” scenarios across the spectrum of hedge fund trading strategies.
PB margin frameworks utilise parametrised rules and market stress shocks meant to provide stable margin for clients whilst also covering their lending risk in adverse scenarios. These models, at times, may be outdated for the adverse market conditions they were developed for, or may not account for extreme tail risk. As such, in times of
The approach to cybersecurity is shifting as the risk of data leaks has become more commonplace. Hedge funds and financial firms also need to ensure they implement consistent and continuous training, monitoring and testing to contend with ever-changing, creative threat actors. This is also critical in view of changing regulatory requirements.
Financial institutions, including hedge funds, have evolved and threat actors are raising the stakes turning ransomware attacks into something even more menacing. By and large, firms now have access to strong backups and disaster recovery software so traditional ransomware attacks are largely ineffectual as they are no longer compelled
The credit arena is expanding, buoyed by investor appetite for private credit and similar asset types. As managers look to enter new markets and offer investors new, potentially more complex asset classes, their need for greater operational flexibility and broader accounting support is growing.
“We see managers going deeper and deeper into the asset class,” comments Nicholas Nolan, Vice President of Solutions Management and Product Development at SS&C Advent. “Historically, we would see managers with a split of 90% syndicated and 10% private, but now that ratio is around 30-40% private.”
The shift means managers require greater flexibility in their
