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Envestnet Yodlee, a data aggregation and analytics platform specialising in consumer spending data analytics, says asset managers are increasingly seeking out such alternative data insights in their hunt for alpha.
NEWS
Marshall Wace, the long-running high-profile hedge fund set up by Sir Paul Marshall and Ian Wace, has taken a 3 per cent share in IAG, the owner of British Airways, Iberia, and Aer Lingus, in a reported bargain swoop for stocks and sectors hit hard by the coronavirus pandemic.
The London-based long/short hedge fund giant’s stake – estimated at around GBP140 million (USD181.3 million) – comes after BA earlier this week replaced its chief executive Alex Cruz with Aer Lingus chairman and CEO Sean Doyle, amid what IAG chairman Luis Gallego described as the “worst crisis faced in our industry.”
The coronavirus
FUND PERFORMANCE
A spike in market volatility led CTAs and other managed futures hedge funds to hand back their initial early-year returns last month, as gains in commodities and bonds were outweighed by losses in currencies and equity indices.
Though two out of the three daily CTA benchmarks produced by Société Générale were in the black entering the final week of January, increasingly see-saw market patterns ultimately torpedoed the sector’s mid-month advance, SocGen said on Friday.
The main SocGen CTA Index, a daily performance benchmark comprising a select pool of 20 of the largest managed futures strategies, slumped to a 1.14 per
TRADING
The co-ordinated billion-dollar raid on hedge funds’ short positions in GameStop by amateur traders represents another risk management factor in a battalion of emerging challenges that now confront managers’ portfolios, industry participants say.
FUND PERFORMANCE
The sharp dispersion in hedge fund performance is having a more noticeable impact on where investors choose to allocate – and withdraw – their money this year.
New industry research shows that while allocators removed USD9.6 billion from hedge funds during September, they still pledged some USD8 billion to the industry throughout Q3 – the first time since Q1 2018 that hedge funds registered positive quarterly inflows.
And against a backdrop of huge performance dispersion, it is the best-performing managers and strategies which are now attracting the most new capital from allocators.
“The data is showing it over and over
AWARDS
In what has been a year of extreme turmoil and unprecedented challenges, the team at Hedgeweek is very pleased to announce the winners of the Hedgeweek US Awards 2020, compiled in conjunction with Bloomberg.
NEWS
Brevan Howard, the high-profile global macro hedge fund manager founded by Alan Howard, has rehired Cove Capital founder and CIO Louis Basger, who previously spent six years at Brevan in Geneva.
Before setting up his own Geneva-based manager, Basger was at Brevan Howard Asset Management between 2010 and 2016, initially as a trade analyst and later a portfolio manager for the firm’s main Brevan Howard Master Fund.
He was earlier an associate at Morgan Stanley between 2005 and 2010, working in the US bank’s fixed income sales and trading division in London.
Basger will start at Brevan Howard on 1
OUTLOOK
Man FRM is optimistic on what it describes as an “unusually large” spectrum of hedge fund strategies amid a growing medley of investment opportunities and themes arising from the fledgling economic recovery.
In its Q1 strategy outlook published on Thursday, Man Group’s funds-of-funds unit spelled out how a spring economic recovery, coupled with dovish central bank stances and ongoing fiscal support, will help sustain and extend the market rally, particularly in equities.
That, in turn, will likely strengthen the hand of a range of hedge fund strategies including credit, equity long/short, macro and relative value, during the first quarter.
Stronger
DIVERSITY
100 Women in Finance, the 20,000-member global industry association for hedge fund, alternatives and investment management professionals, will host the largest ever dedicated global gathering of female investment managers and asset allocators next month, aimed at facilitating capital introductions during its flagship Global FundWomen Week.
100WF will hold the virtual event between 9-13 November, replacing previous in-person regional conferences. It will connect some 200 of the world’s top allocators with more than 180 women founders and managers from across the alternative and traditional asset management industries.
As well as representation from North America and Europe, for the first time ever
OUTLOOK
Alpha-generating opportunities surge in Japan, as economic recovery and market reforms gather pace
OUTLOOK
Alpha-generating opportunities surge in Japan, as economic recovery and market reforms gather pace