Intelligence
Latest
PARTNER FEATURE
As any start-up founder knows, launching a new business can be an exhausting and all-consuming experience. When not dealing with day-to-day operations or handling accounts, there are investors to deal with and venture funding to be raised, often from multiple backers with competing agendas.
PARTNER FEATURE
As more alternative fund managers explore the yield opportunities in private debt, one of the risks is introducing too much complexity to their middle- and back-office operations. Outdated accounting and portfolio management systems or insufficient internal resources for tracking individual loan performance increase that risk.
ALLOCATION TRENDS
The recent steady flow of new investor capital into hedge funds this year could be showing signs of slowing down, with less than half of managers (44 per cent) seeing positive inflows in September, according to new eVestment research.
Overall, investors yanked USD7.99 billion out of the global hedge fund industry during September, according to eVestment’s latest ‘Hedge Fund Asset Flows Report’. Coupled with a performance slide of 0.57 per cent for the month, hedge funds’ overall assets dipped from USD3.62 trillion in August to USD3.59 trillion in September, eVestment’s metrics show.
“That quarter-end data would show outflows is not
GUEST ARTICLE
By Andrew Beer (pictured), founder and managing member of Dynamic Beta Investments – Almost overnight, allocators started to swap out fixed income exposure for hedge funds. What’s driving this? Two trends: after large and sudden drawdowns in both 2020 and 2021, many allocators simply want out of traditional fixed income; meanwhile, with alpha back, hedge funds appear to have much better return potential with comparable or lower risk.
Let’s start with the first trend. The difficult reality today is that fixed income investors face paltry expected returns with potentially big downside risk.
Take AGG, an ETF that tracks the Barclays
FUND PERFORMANCE
Total hedge fund industry assets have swelled to almost USD4 trillion globally, a rise of nearly USD370 billion since the start of this year, according to new capital flows data.
GUEST ARTICLE
Hedge fund managers looking to attract allocations from institutional allocators will need to take several proactive steps – including increasing their levels of disclosures and education – if they are going to build trust among prospective investors.
ALLOCATION TRENDS
US investment consultant, Meketa Investment Group, is looking for hedge fund risk mitigation and diversification strategies, as it looks to de-risk client exposure to directional equities.
HEDGE FUNDS
Massar Capital Management has launched a new discretionary macro hedge fund strategy which aims to capitalise on directional trading opportunities across a broad set of global markets.
ACTIVIST INVESTING
Sir Christopher Hohn’s TCI Fund Management has set out a strategic plan to overhaul Canadian National Railway which it says would put the Montreal-headquartered freight railway company “back on track.”
The London-based activist hedge fund this week outlined sweeping proposals for a “high-quality, experienced board, a world-class railroader as CEO and a long-term plan for sustainable growth.”
The plan also includes several board changes and a new CEO, four immediate key priorities, and a six-point plan for sustainable long-term growth.
In Monday’s announcement, TCI said CN’s current board had been responsible for “multiple corporate governance failures”, which has led to
FUND LAUNCH
Quantitative hedge fund and CTA pioneer Aspect Capital has unveiled a new systematic momentum-based investment strategy focused on Chinese financial and commodities futures, tapping into the expanding global institutional investor appetite for opportunities there.
The Aspect China Diversified Fund – which launches with more than USD100 million in external capital – uses the London-based firm’s systematic medium-term trend-following models to trade more than 40 onshore Chinese futures markets spanning six asset classes: agriculturals, bonds, energies, industrials, metals and stock indices.
The strategy brings the firm’s expertise in systematic investment to global investors who are keen to tap into the opportunities
