Download Issue | n this article, we explore what factors have been driving the recent poor performance in long/short funds. We focus on two subgroups of these funds—long bias (directional funds) and no bias (non-directional funds). |
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Download Issue | A difficult start to the year for all asset classes continued into February. Global equity markets were negative with the MSCI World LC Index down -1.9%. However, performance was mixed with Asia ex Japan up most, while the US was the worst region as US stocks fell for the fourth straight month. Europe and Japan were flat to negative. |
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Download Issue | Over a 36 hour period starting at six o’clock on the morning of Friday 14th March I was invited twice to appear on television, and asked to write no less than five articles for different publications. As readers will be well aware, this had nothing to do with me having suddenly developed a winning nature and film star good looks (I had these already, of course) but with the fate of Bear Stearns following rapidly upon the sudden demise of Carlyle Capital Corporation. |
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Download Issue | Kenya’s recent political crisis dealt an immediate blow to the country’s reputation for peace and stability, but the extent of the damage to east Africa’s leading economy has yet to emerge. |
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Download Issue | What makes the Scandinavian traded electricity market and its players relevant to outside investors is that in the last year or more a group of hedge funds has sprung up that allow access to this talent pool and trading opportunity set. |
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Download Issue | The Hedge Fund Working Group [HFWG] has recently released the findings of its consultation with the hedge fund industry, encapsulated in a set of voluntary standards. |
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Download Issue | Illiquidity lies at the centre of every financial crisis. In November an expert panel of academics and hedge fund practitioners gathered at the London Business School’s BNP Paribas Hedge Fund Centre to decipher this summer’s liquidity crunch and to answer the question: is it all over or is there more still to come? |
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Download Issue | The year began with a report from Deutsche Bank, based on a survey of 700 investors in hedge funds (of which 90% were direct investors). The survey found the investment community cautiously positive going into 2007... |
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Download Issue | The world economy is expected to decelerate moderately in 2008 but the strong momentum of major emerging markets such as China and India will prevent a massive slowdown.The US economy is skating on thin ice as consumer spending is likely to be curtailed by falling house prices, rising energy costs and stricter lending policies. |
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Download Issue | The OTC derivatives market has seen exponential growth over the past two years, with notional amounts outstanding surpassing the $500 trillion mark during Q2 of this year to reach $516 trillion by June 2007, an increase of 25% over six months and almost 85% since June 2005. |
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Download Issue | Based on our profiling of investors of all kinds, we find that interest in direct hedge fund investment is more prominent overall than interest in fund of hedge fund investments. This is partially due to the fact that many of the investors themselves are fund of funds looking to invest in hedge funds. |
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Download Issue | The Australian hedge fund community remains positive about the prospects for absolute return asset management in the country despite a number of well publicised fund struggles. Although the knock-on effects of the credit crunch hit some Australian funds harder than their Asian peers, the fundamentals of a market in which the overall investment pool continues to soar suggest that the rapid growth in number of funds and their total assets under management should be maintained despite the hiccups. |
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Download Issue | The fall-out from August’s credit crunch is still being felt within the hedge fund industry, and its echoes are likely to be heard all the way to Christmas, if not beyond. Although there was an awareness within the industry that there were problems in the US sub-prime market, there were few portfolio managers who had a good grasp of the coming storm and its implications for a number of core strategies. |
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Download Issue | In July of this year a Hedge Fund Working Group was established under the Chairmanship of Sir Andrew Large to review industry standards and best practice in relation to Valuation, Risk Management and Disclosure. |
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Download Issue | The objective of this column is to shed some light on the credit markets and how they, like all financial markets, are driven by fundamental, technical and behavioural patterns. |
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