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HFR (Hedge Fund Research, Inc) has launched the industry’s first daily hedge fund performance database, allowing investors to access data on a rapidly growing universe of hedge funds which provide investors with daily performance figures.


The launch of HFR Daily Hedge Fund Database is another milestone in the evolution of the hedge fund industry, as the increased ability of fund managers to provide investors with more frequent updates of performance has made the daily database not only possible, but an integral component of making allocations to hedge funds in 2011. Investor preference for more liquid strategies, in general, and
- 12/05/2011
- 12/05/2011
By Charles Dumas – An undervalued country within a fixed-currency will tend to inflation, an overvalued country to deflation. Within the dollar fixed-currency zone, “Chimerica”, China is undervalued, America overvalued.
America controls the currency issuance, though the Chinese have been no slouches themselves: nominal GDP is up 33% in nine quarters from its pre-crash peak, but broad money is up 61%. America was drifting into deflation before QE2. The 12-month “core” CPI gain, only 0.6%, is the lowest in 50 years. It has declined at one percentage-point a year for two years. US QE2 was designed to avert deflation –
- 12/05/2011
- 12/05/2011
Orinda Asset Management LLC, an independent, privately-held asset management firm, is to launch the Orinda Multi-Manager Hedged Equity Fund (Ticker: OHEIX, OHEAX, OHECX), which seeks long-term capital appreciation with an emphasis on risk-adjusted returns and reduced volatility compared to traditional broad-based equity market indices.
The fund allocates its assets among a carefully chosen group of skilled hedged equity managers who employ various long/short equity investment strategies. To assist in manager selection, portfolio construction and risk management, Orinda Asset Management has selected SkyView Investment Advisors, an experienced, institutional multi-manager hedge fund advisory firm, to act as the lead sub-adviser to the
- 12/05/2011
MarketAxess Holdings has launched electronic trading for preferred stocks and consumer-based asset-backed securities (ABS) on its award-winning e-trading platform.
MarketAxess is the first electronic fixed-income marketplace to offer trading of preferred stocks for institutional investors, with liquidity provided by 13 market-making dealers through the MarketAxess corporate bond platform.
ABS trading on MarketAxess began in February and now has 14 market-making dealers providing liquidity to the platform, with 100 institutional investor customers signed up to trade. Product coverage includes credit cards, equipment leases, floor-plans, student loans, timeshares and autos.
Electronic trading of both ABS and preferred stocks takes place using
- 12/05/2011
As Asian assets managed by Matrix have more than doubled so far in 2011 to more than USD90 million, the Asian team has been bolstered with two key sector specialist appointments. Ian Smith and David Naughtin, who both previously worked for Nevsky Capital LLP, join as analysts.
Smith worked as a specialist analyst at Nevsky Capital, covering Asia & Latam Financials. He previously worked at Deutsche Bank in the Industrials Corporate Finance division. He began his career focusing on corporate restructuring at Ernst & Young, where he gained an ACA qualification.
Naughtin joined Nevsky in 2007 as an Investment
- 12/05/2011
According to the Bank for International Settlements (BIS), the notional amount of outstanding OTC contracts, as of June 2010, was USD582trillion, representing a gross market value of USD25trillion. The OTC market has historically been largely opaque, but things are changing. Investors and regulators alike want greater transparency.
In response to this, Citigroup last month rolled out a comprehensive OTC derivative service through its Global Transaction Services division to consolidate and simplify the post-trade execution process. But as Peter Salvage (pictured), Managing Director of Hedge Fund Services at Citi tells Hedgeweek, this was far from being a kneejerk reaction to the
- 12/05/2011
International Financial Centre law firm Walkers has made a series of senior management changes within the firm’s global group.
With the forthcoming retirement of Global Chairman Wayne Panton, who has been an attorney with Walkers since 1988 and a partner with the firm since 1997, this key strategic role is to be taken on by current Global Managing Partner Grant Stein (pictured), with effect from 1 July 2011. The move into the role of Global Chairman dovetails neatly with Stein’s recent involvement in international regulatory matters, particularly his work in the formation of the International Financial Centres Forum (www.ifcforum.org),
- 12/05/2011
European mutual funds are increasingly driving short-term volatility in credit markets, as they have increased their investments in credit assets to approximately EUR1trn at the end of 2010, according to a new report from Fitch Ratings.
Although European insurance companies hold around double the amount of private debt assets, mutual funds have become a driving force in credit markets, as they represent a much greater proportion of daily market activity. However, insurers’ decisions will continue to influence structural changes in demand for and the pricing of credit, according to Fitch.
"Credit has become more "retail" in nature, in Fitch’s view,
- 11/05/2011
Vertex Capital Management Ltd, the London-based investment advisory firm, has launched a new UCITS fund via the SEB Prime Solutions UCITS platform.
This is the fourth launch on SEB’s UCITS platform since its inception in September 2010. The Vertex Evolution UCITS Fund, launched on the SEB Prime Solutions platform, is an adaptive multi-asset class fund with a sub portfolio of external systematic trading managers.
The fund consists of diverse building blocks that play different roles and complement each other. The blocks are built around four objectives – broad risk-controlled market exposures, amplifying returns in equity bull markets, augmenting returns in
- 11/05/2011
Global currency overlay and currency alpha manager, Millennium Global, has appointed Monica Fan (pictured)as its new Head of Business Development. Fan will join the firm on 16 May 2011 and report to CEO Mark Astley.
Previously global head of currency product engineering at State Street Global Advisors (SSgA), Monica led the strategic positioning of currency products globally and was heavily involved in the business development of SSgA’s funds. Prior to that she was a consultant at Oliver Wyman Financial Services and earlier was global head of currency research at RBC Capital Markets. She has worked in EMEA and Asia and
- 11/05/2011
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