The Hedge Fund Association (HFA) is launching a new chapter to advocate for hedge funds domiciled in Switzerland, Italy, Spain and Portugal and has named José Castellano, Managing Director of Pioneer Investments – an asset manager with USD230 billion assets under management (AUM) – as the Southern European Union (EU) Chapter Director. “It is increasingly clear that the fate of the economy in southern Europe is powerfully linked with the world’s economy. As such, it only makes sense for the HFA to take steps to advocate for hedge funds domiciled within this critical area,” says David Friedland (pictured), President of the

A survey of the world’s leading hedge funds by independent hedge fund research and advisory firm Aksia, has found that 42% of hedge fund managers see potential for a default or restructure by Italy and Spain. Conducted over recent weeks, the survey of 125 institutional calibre hedge funds representing approximately USD800 billion of assets under management (more than one-third of total hedge fund industry assets) also shows 60% of hedge fund managers see a similar prospect of Greece leaving the Euro and 65% think EU member states may issue Eurobonds. Some 94% of managers call for further monetary easing by

Citi’s economists are forecasting slower global growth, a recession in the Euro Area and further sovereign debt downgrades over the next two to three quarters. In a report released today – “Prospects for Economies and Financial Markets in 2012 and Beyond” – Citi’s economists also forecast a resurgence of global political risk and a lengthy period of ultra low nominal and negative real interest rates in major industrial economies. They expect the Euro to survive. “Our forecast is that the Euro crisis escalates and then is contained and mitigated somewhat by policy responses,” says Willem Buiter, Citi’s Chief economist. “However,

The fund has achieved more than quadruple the amount in total returns than would have been achieved by an investor placing money in an overnight deposit during the same period.

According to the results of a poll by SEI, the majority (63 perc ent) of alternative investment managers are optimistic about their firm’s prospects over the next three years, and of those, a full 50 per cent feel this way due to the strength of their brand. In the poll, conducted at SEI’s Annual CFO Forum for Alternative Investment Managers in New York, participants felt the institutional channel offered the greatest opportunity for asset growth (74 per cent), specifically naming pension plans and foundations and endowments as the most attractive segment. Geopolitical and economic uncertainties were indicated by 63 per

David Miller (pictured), Partner at Cheviot Asset Management, has this afternoon Commented on the OECD’s report which has slashed global growth rates and said that Britain may slip into a modest recession, David Miller, partner at Cheviot Asset Management, says that a European recession “is already in the Market price”… “Right now the Markets are more concerned about a solution to the debt problem than the findings of the OECD report. In fact the OECD’s Eurozone predictions actually bring it more in line with what the market consensus already is. The US is showing signs that it is continuing to

Victory Park Capital (VPC), an alternative asset management firm that provides direct financing solutions to small cap and middle-market companies, has completed fundraising for VPC Fund II, its distressed private equity and debt vehicle, with capital commitments of approximately USD480 million. VPC Fund II’s limited partners consist of a broad group of top-tier institutional investors, endowments and foundations. Richard Levy (pictured), managing partner of VPC, says: "We are truly appreciative that VPC Fund II exceeded our initial target of USD400 million and that our value-added, hands-on approach to smaller company investing was well received.” VPC Fund II will implement a