Total capital invested in Emerging Markets (EM) hedge funds climbed to a record level to begin 2017, as energy commodities and the US dollar posted strong gains.
Lyxor Asset Management today releases the latest research from its Cross Asset Research Team, entitled Secular Stagnation Trumped - US Rates Gearing Up.
Authored by Lionel Melin Senior Strategist and Jeanne Asseraf-Bitton Global Head of Cross Asset Research, the attached paper reveals that ‘Trumponomics’ could leave secular stagnation in the past.
The Lyxor Cross Asset Research team found that:
“SS&C GlobeOp’s Forward Redemption Indicator for February of 2017 was 3.25%, which edged down the 3.27% reported a year ago for February 2016 to become the second lowest reading for the month of February since the indicator was first reported in 2008 (the year 2012 saw the lowest February reading ever at 3.14%, 11 bps better than the current month),” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.
eVestment’s Traditional Asset Flows Report shows the flow of institutional funds across investment strategies, regions and investor types. Investor flows are calculated based on a bottom-up approach, measured for each product and summarized at the universe and asset class levels. The universes utilized in this report are identical to those that exist within the eVestment database.
Hedge funds, in general, continued their positive momentum into 2017 posting positive gains in January. The Eurekahedge fund index producing an estimated positive gain of 0.89% with the S&P returning 1.79% in January.
S&P Global Market Intelligence, a leading provider of multi-asset class research data and insights, today released its review of Q4 2016 13F filings by pure play hedge funds. The quarterly S&P Global Market Intelligence Hedge Fund Tracker is an aggregate analysis of hedge fund equity ownership that highlights hedge fund investments in specific stocks and sectors.
Prestige Fund Management Limited (PFM) has sourced an additional US$100 million in investor commitments during the final quarter of 2016, illustrating increasing demand for its brand of asset-based direct lending to small and medium UK businesses.
Sources of new commitments have come mainly from outside the UK, including from Middle East sovereign wealth funds and sovereign pension groups, Swiss foundations and Swiss corporate pension schemes.
The new year started with lots of expectations for hedge funds and so far they live up to them, having a solid start in the year, which is extended in the first weeks of February. Systematic CTAs followed by equity hedge and macro strategies are leading the winners' list, as the major HFRX indices find themselves in "greens". Despite the outflows last year, the AUM is still at an all-time high and is expected to grow from $3.2tn to $5tn according to a PWC survey over the next 5 years.
Laven Partners has published its February 2017 newsletter, where they look back at a notable fund blow-up in 2016, the causes, and whether a sound operational due diligence (“ODD”) process would have raised enough concerns and red flags to deter a potential investor.
The first case considers Visium Asset Management (“Visium”).
Founded in 2005, Visium grew to an $8bn business by 2016 when the US government filed charges against three of the firm’s former traders for instances of insider trading and mismarking bonds.
IMF Bentham Limited (ASX: IMF), the parent company of U.S.-based Bentham IMF (Bentham), has raised a USD $200 million litigation finance funding vehicle together with funds managed and advised by a large U.S. hedge fund (collectively, The Funds). The Funds will invest up to USD $150 million and IMF will invest up to USD $50 million.