Daily News

FUNDS
Hedge funds, in general, posted gains across all strategies in December to conclude 2016 and to register their best year since 2013. The Eurekahedge Hedge Fund Index returned an estimated 1.02% for the month and an estimated return of 4.49% for 2016. North American equity markets traded higher in December buoyed by the Trump-driven post-election optimism, with the S&P 500 Index gaining 1.81% in December and 9.50% for 2016. On the 1st... Read more
FUNDS
RAM Active Investments (“RAM AI”), the active and alternative asset management company, has announced the launch of RAM (Lux) Systematic Funds - Long/Short Global Equities. The Fund, available in daily-dealing UCITS format, will be collectively managed by Thomas de Saint-Seine, Maxime Botti and Emmanuel Hauptmann, Senior Equity Fund Managers and Founding Partners, who have run the firm’s systematic equity strategies since 2007... Read more
FUNDS
The gross return of the SS&C GlobeOp Hedge Fund Performance Index December 2016 measured 1.29%. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined 3.05% in January. “SS&C GlobeOp’s Capital Movement Index for January 2017 was -3.05%, an improvement from the -3.28% reported a year ago for January 2016,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.... Read more
FUNDS
It seems investors are having second thoughts on how negatively the Trump administration could impact Asia.  Asian equities, as measured by the MSCI Asia ex-Japan index, have registered solid gains since the beginning of 2017. As we have maintained ever since the election of Donald Trump, we believe fears of heightened protectionism impacting the region are somewhat overdone. These now receding fears, together with a weakening US dollar,... Read more
CORPORATE
The Alternative Investment Management Association (AIMA), the global representative of alternative investment managers, has bolstered its expanding footprint in APAC with the appointment of Lilian Lee as Director and General Manager for Singapore.  Her appointment follows the recent hiring of Michael Bugel as Co-Head of APAC for AIMA. Lilian brings to AIMA a wealth of experience and expertise in alternative investment management. She joins... Read more
FUNDS
The hedge fund industry finished 2016 with positive performance across most strategies in December. The HFRX Global Hedge Fund Index returned +0.86% in December, as increases in the value of risk assets helped managers with net long exposure. The best performing managers were in the Managed Futures and Global Macro strategies, although Relative Value, Equity Long-Short and Credit strategies also produced positive returns. Managed  Futures... Read more
FUNDS
For 2016, the hedge fund industry returned +5.34%, according to the just-released eVestment December and Year-End 2016 Hedge Fund Performance Report. This is a significant rebound following a -0.72% aggregate return in 2015, which set the stage for investors during 2016 – unhappy with returns and chafing at hedge fund fees – to remove more than $83 billion from the industry (as of November 2016 data, the latest available). Hedge... Read more
FUNDS
The strong US dollar trend continues to be supported by solid US economic data and the ‘buy American’ motto of president-elect Donald Trump. Positioning is quite consensual across the market though so daily volatility tests the solidity of positions with 1%+ moves almost routine for the US Dollar Index (DXY). The trend is there and despite a near 30% appreciation in the greenback over the past three years, we see a further 5-10%... Read more
FUNDS
Hedge funds gained 1.01% during the month of December, with 2016 returns coming in at 4.48%. Meanwhile, underlying markets as represented by the MSCI AC World Index (Local) gained 2.38% in December with its 2016 returns coming in at 7.37%. North American equity markets traded higher in December as the Trump-driven reflation theme buoyed markets in a somewhat 'honeymoon' period post-election. The S&P 500 Index gained 1.82% during the... Read more
FUNDS
GAM has launched its third systematic UCITS fund, GAM Systematic Diversified Macro. The fund invests using the same rigorous quantitative trading models and proven investment strategies developed by the Cantab investment team for use within the established offshore version of this fund – CCP Core Macro, which has delivered an annualised return since inception of 5.2%. GAM Systematic Diversified Macro offers a liquid, diversified portfolio... Read more
FUNDS
Societe Generale Prime Services today announces the December 2016 and full year performance data for its SG CTA indices. All SG CTA indices posted positive returns in the last month of 2016, at the end of an otherwise difficult quarter. The flagship SG CTA Index closed the year slightly negative -2.86% and SG Trend Index -6.19%, the first negative year’s performance since 2012. Short term traders faired marginally better, in positive... Read more
FUNDS
In the context of the reorganization of Tikehau Capital, with the simplification of its shareholding structure and governance, Tikehau Capital announces the filing with the Autorité des Marchés Financiers (AMF) of a tender offer targeting the securities of Salvepar, a listed company that focuses on minority investments in listed and non-listed companies.Tikehau Capital has initiated a project to reorganize its shareholding structure and... Read more
REGULATORY
The Association of National Numbering Agencies today opened the fee model consultation for the ANNA Derivatives Service Bureau.  The consultation seeks industry comments on the proposed fee model that will be applied to the numbering agency functions of the DSB, supporting cost-recovery principles in pricing of ISINs for OTC derivatives. The consultation paper, published today, may be downloaded from the Fee Model Consultation page of the... Read more
FUNDS
The Hedge Fund Standards Board (HFSB), the global standard-setting body for the alternative investment industry, has added George Long, Founder, Chairman & CIO of LIM Advisors and Danny Yong, Founding Partner and CIO of Dymon Asia Capital, to its APAC Committee. The HFSB’s APAC Committee was established in June 2016 with APAC-based representatives from Albourne, CPPIB, Future Fund, GIC and PAG.  The Committee directs the HFSB... Read more
FUNDS
New York Life Investments, the global asset management business of New York Life, announced today the signing of an agreement to acquire a majority stake in Credit Value Partners, LP (CVP), a specialist boutique with opportunistic and distressed debt and high yield corporate credit investing capabilities. The addition of CVP represents another step in New York Life Investments’ commitment to offering investors a broad range of alternative... Read more
FUNDS
Deutsche Asset Management (Deutsche AM) today announced the appointment of Petra Pflaum as Chief Investment Officer for Responsible Investments, effective immediately. In this new role, Pflaum will manage a dedicated Environmental, Social and Governance (ESG) team responsible for the further integration of Deutsche AM’s ESG capabilities into its investment processes and growing its client offerings across its Active, Alternatives and... Read more
CORPORATE
Each year, Agecroft Partners predicts the top hedge fund industry trends through our contact with more than two thousand institutional investors and hundreds of hedge fund organizations. The hedge fund industry is very dynamic, and participants are best served by anticipating, rather than reacting to, change. Below are Agecroft’s predictions for the biggest trends in the hedge fund industry for 2017. Evolution in hedge fund fee structures... Read more
FUNDS
Further to the announcement dated 14 October 2016, Man Group plc (“Man Group”) announces the completion of its acquisition of Aalto Invest Holding AG (“Aalto”). Luke Ellis, CEO of Man Group, said: “We are delighted to have completed the acquisition of Aalto, which is a key step in the development of Man Global Private Markets, our new investment engine for private asset classes, and in the ongoing diversification of... Read more
FUNDS
2016 has been one of the most challenging years in the recent financial history with many geopolitical incidents affecting the global economy and its outlook. Brexit, the surprising outcome of U.S. elections, Italian referendum, immigration crisis, terrorism and the upcoming election in major European countries like Netherlands and Germany compose the turbulent environment and investors focus on managing an unprecedented situation. In the U.S.,... Read more
FUNDS
Fred is the Chief Investment Officer and a founding partner of Lincoln Private Investment Office, and has been advising clients on their investments since 1997. Here he looks at 4 opportunities for investors in 2017. The End of the 30 Year Bond Bull Market? “Since 2008, conventional bond markets have been distorted by ultra-loose monetary policy, which has pushed up the prices of bonds to a point where there is little discernible value.... Read more
FUNDS
State Street Global Exchange today released the results of the State Street Investor Confidence Index® (ICI) for December 2016. The global ICI decreased to 94.2, down 3.4 points from November’s revised reading of 97.6. The decline in sentiment was driven by the 6.7 point decrease in the Asian ICI to 109.1 along with the 6.0 point decline in the North American ICI to 87.5. By contrast, the European ICI rose 13.7 points from 86.4 to 100.... Read more
FUNDS
ML Capital is pleased to formally announce the launch of the AlphaQuest UCITS Fund, a systematic trading program diversified by asset class hosted on the MontLake UCITS Platform. MontLake is a leading independent platform for UCITS funds that provides investors with access to a range of liquid, transparent and regulated investment products domiciled in Dublin. AlphaQuest UCITS Fund is advised by Quest Partners LLC, a research driven alternative... Read more
FUNDS
Based on the recent aggressive shift in expectations for next year on increased economic growth, higher interest rates and a stronger dollar, the biggest opportunities from a risk reward basis reside in areas where there is less focus and consensus, according to Jordi Visser, President and Chief Investment Officer of Weiss Multi-Strategy Advisers. Jordi’s 2017 outlooks ·        Energy sector to... Read more
FUNDS
SS&C GlobeOp’s Forward Redemption Indicator for December 2016 was 5.67%, which reflects an increase from the 4.98% reported in December 2015,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “This result effectively reversed the sharp decrease seen last month in the November numbers. For the full year 2016, the monthly Forward Redemption Indicator averaged 12 basis points higher than for full... Read more
REGULATORY
Irish Funds, the representative body for the cross-border investment funds industry in Ireland, has welcomed the announcement by the People’s Bank of China and the Irish authorities that Ireland has been granted a RMB 50 billion quota under the RQFII Scheme. This important announcement recognises Ireland’s position as a leading cross-border funds centre and comes very quickly after confirmation that the Central Bank of Ireland... Read more
CORPORATE
The CAIA Association and SharingAlpha will run a fund selector’s asset allocation competition. The competition is open to all investment professionals globally. Competitors will use their skill to construct a virtual fund of funds, starting February 1st 2017, and will be ranked based on their performance till November 31st 2017 (assessed as portfolio total return, minus maximum portfolio drawdown during the period). The CAIA Association... Read more
FUNDS
Amundi's Cross-Asset Investment Strategy Research for December 2016 was published recently. Below are some of the highlights from the report, which can be downloaded here http://research-center.amundi.com/page/Publications/Cross-Asset/2016/Cro... What Donald Trump’s election changes... and what it doesn’t - Page 4 ·         The election of Trump does not dramatically change many... Read more
REGULATORY
The Cyprus Investment Funds Association (CIFA), a representative industry body of over 230 members based in Cyprus, is pleased to announce it has become an associate member of the International Capital Markets Association (ICMA). ICMA, the association for the global sell-side and buy-side industry, will support the development of Cyprus’ position as an emerging European funds jurisdiction. CIFA’s affiliation with the ICMA follows its... Read more
FUNDS
Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management company, today announced the appointment of Hugh P. B. Cutler as Executive Vice President and Head of Global Distribution, responsible for managing the company’s global distribution platform, including AMG’s centralized institutional and retail capabilities around the world. Mr. Cutler will join AMG effective March 1, 2017, and will be based in... Read more
FUNDS
Man Group plc (“Man Group”) today announces the 25th anniversary of Man FRM, a global alternatives investment specialist, with $12.8 billion[1] of funds under management. FRM was founded in 1991 in London as a hedge fund research consultancy and in 1997 launched its first client partnership solution and its flagship commingled portfolio product, which is still serving clients today. In 1998 the firm expanded into managed accounts to... Read more
FUNDS
Capital Fund Management (“CFM”), a leading quantitative investment management firm, is pleased to announce the appointment of Oliver Schupp as Head of North America. In this role, Mr. Schupp will be responsible for client coverage and business development in the Americas. He will report to Philippe Jordan, President of CFM.  Prior to joining CFM, Mr Schupp was the CEO of Altemis Capital Management, LLC. He co-founded Altemis in... Read more
CORPORATE
The US Federal Reserve (Fed) hiked interest rates for the first time this year while economic projections were not changed meaningfully - however, the big surprise was that the central bank now projects three interest rate hikes in 2017 (to a 1.25-1.50% range).  The Federal Reserve pointed to “considerably” higher market-based inflation expectations and highlighted a “strengthening” labour market as the main reasons... Read more
CORPORATE
The Hedge Fund Standards Board (HFSB) has appointed Luke Ellis, CEO of Man Group, one of the world’s largest independent active investment management firms, and Henry Kenner, CEO and Founder of Arrowgrass Capital Partners, a leading alternative asset manager based in London, to its Board. The HFSB is the global standard-setting body for the alternative investment industry and custodian of the Hedge Fund Standards. The appointments of... Read more
CORPORATE
Help For Children is pleased to announce the appointment of four new members to its Global Board of Directors. Joining the Board are Don Steinbrugge, Jeffrey Bronheim, Lucia Arienti and Nicholas Halaby. At the Board meeting on November 16th, Dean Backer, Chairman of the HFC Board of Directors, welcomed their participation, stating that, “the breadth, depth and diversity of experience that these newest members bring to HFC will play an... Read more
REGULATORY
A new commentary by Crow & Cushing examines a new proposal, published November 25, 2016, by the Commodity Futures Trading Commission (CFTC) in its quest to improve its ability to regulate and oversee automated trading. Crow & Cushing is a law firm in Princeton, NJ specializing in serving the alternative investment industry. The CFTC’s most recent rule proposal for Regulation Automated Trading (aka Regulation AT) comes in the wake... Read more
FUNDS
Moving into the final month of a challenging year for global financial markets, alternatives boosted their popularity with alternatives strategies managing over $6tn having a bright future ahead of them in terms of industry growth. The rise in the 10-year treasury yields could signal a more aggressive policy in spending, the FED considers rising rates and equities are full of optimism derived from Trump’s win in the US elections. On the... Read more
FUNDS
GAM's Anthony Lawler has published his monthly hedge fund report today. '2016 has been a difficult year for active management. Hedge fund managers have been unable to match the relatively strong performance of broader asset classes, such as equities and bonds, with the HFRX Global Hedge Fund Index in US dollar terms gaining 1.6% to 30 November. However, there has been a notable differential in returns within the index. Event driven was... Read more
FUNDS
Societe Generale Prime Services today announces the result of its annual review of constituents for its range of CTA indices. There are three changes to the flagship SG CTA Index for 2017; one new constituent and two strategy rotations. Tom Wrobel, Director of Alternative Investments Consulting at Societe Generale Prime Services, said: “We welcome GSA Capital Partners to both the SG CTA Index and SG Trend Index, whilst Graham Capital... Read more
FUNDS
Hedge funds were up 0.48% during the month of November, with 2016 year-to-date returns coming in at 3.60%. Meanwhile, underlying markets as represented by the MSCI AC World Index (Local) gained 2.88% in November with its 2016 year-to-date returns at 4.88%. Roughly 56% of underlying constituent funds for the Eurekahedge Hedge Fund Index were in positive territory this month, with majority of them being long/short equities mandated. North American... Read more
CORPORATE
Capital Fund Management (“CFM”), the quantitative investment management firm, is pleased to announce that its philanthropic arm the CFM Foundation for Research has committed a minimum of €200,000 a year to fund a new research chair at the École normale supérieure (“ENS”) in Paris. Launching on 15th December, the new research chair will be dedicated to “modelling and data sciences”. Florent Krzakala (... Read more