Opalesque Exclusive: Asian hedge fund market is evolving but could find it hard to meet investors’ expectations in 2010 - Artradis’ Steve Diggle... [more] From Sagar Chakraverty, Opalesque Asia:
In an interview with Matthias Knab, head of Opalesque, Singapore-based Artradis’ co-founder Steve Diggle spoke about the funds’ performance and how negative correlation helped the
Opalesque Exclusive: Japan offers unique position to become bridge between Asia and North America... [more] From Precy Dumlao, Opalesque Asia:
The Japanese financial landscape is offering a unique opportunity to bridge Asia and North America especially China and the United States because its political and economic systems as well as legal frameworks conform with Western standards, and at the same ti
Opalesque Exclusive: SYZ & Co: Investors concerned about macroeconomics in February as global health still critical... [more] From Komfie Manalo, Opalesque Asia:
The accumulation of macro-economic fears continue to weigh on the morale of investors despite better-than-expected earnings in February, as the real state of health of the global economy remains critical, said Swiss banking group SYZ & Co. in its latest “Poi
SAC alumnus Paul Orwics launches Sursum Partners, raise $18m for hedge fund... [more] From eFinancialNews.com: Paul Orwicz has founded Greenwich, Connecticut-based Sursum Partners, and raised $17.75m for a hedge fund from eight investors, according to filings with the Securities and Exchange Commission dated March 8, 2010.
Orwicz managed technology and energy stocks at SAC but
HFR: Hedge fund liquidations fall to pre-crisis levels as launches increase in Q4-09 and average incentive fees decline... [more] The number of new hedge fund launches increased in the fourth quarter of 2009, even as the pace of liquidations continued to decline, according to data released today by Hedge Fund Research, Inc., the leading provider of data and analysis of the hedge fund industry.
During Q4 2009, an estimat
Assets – Springbok raises $250m for multi-manager fund that will ask underlying HF managers to set aside reserve capital, Investors pull $2.5bn from Horseman hedge funds in fear of key-man risk, FoHFs firm Permal saw inflows of $350m YTD as it shifts towards institutional clients... [more] Springbok raises $250m for multi-manager fund that will ask underlying HF managers to set aside reserve capital
From HFAlert.com: Springbok Capital has raised $250 million for a multi-manager vehicle that will place an extraordinary demand on underlying managers.
On April 1, th
Indices – Greenwich Global Hedge Fund Index +0.68 (-0.1% YTD), Lyxor’s investable Global Hedge Fund index +0.3% in February... [more] Greenwich Global Hedge Fund Index +0.68 (-0.1% YTD)
Hedge funds as measured by the Greenwich Global Hedge Fund Index (“GGHFI”) recouped January losses during the month of February to move almost even on the year. The GGHFI returned +0.68% compared to global equity returns in the S&P 500
UCITS – Hedge funds are finding it more difficult than traditional asset managers to raise money for UK Ucits funds, IFIA: UCITS to transform the Alternative Investment landscape... [more] Hedge funds are finding it more difficult than traditional asset managers to raise money for UK Ucits funds
From eFinancialNews.com: … London-based fund marketer Kepler Partners, which drew up a universe of 109 Ucits hedge funds that can be sold in the UK, found that traditional asset m
Hedge fund managers are back, 21 land on Forbes’ billionaire list... [more] From Forbes.com: John Paulson became a billionaire in 2007 shorting the lowliest tranches of subprime mortgages. Last year, he told investors in a letter in January, he made billions more buying the same, not to mention bonds issued by troubled auto lender GMAC and loans from deals turned precariou
Ounavarra Capital report: Separate managed accounts – an introduction... [more] Paul O’Reilly-Hyland, Managing Partner at Ounavarra Capital, a New York-based-broker dealer specialised in the alternative investments industry and David Lifchitz, Consultant at Lifel Group, a US-based risk manager, produced a 22-page report examining the increasing interest for managed accounts; th
Investing – Hedge funds lose money even with euro, pound tumbles, SEB investment outlook: From beta to alpha - time for hedge funds, Cerulli: Investors should target developing and frontier markets in post credit-crunch world, Buy Asia stocks before ‘green’ light, Goldman says... [more] Hedge funds lose money even with euro, pound tumbles
From Bloomberg / Businessweek.com: Hedge funds that trade currencies are taking hits from politicians casting them as speculators out to sink the euro and push Greece into insolvency. They are also losing money.
Macro funds, so
North America – Senate Bill on finance to include agency that tracks financial risk, A decade later, lessons in the Nasdaq collapse, Comment: When will analysis replace rhetoric?... [more] Senate Bill on finance to include agency that tracks financial risk
From NYtimes.com: Senate Banking Committee members from both parties said on Wednesday that they had agreed to include in their regulatory overhaul bill a new Office of Research and Analysis that would provide early warn
Europe – Finance ministers may reach agreement on AIFM in 16-March Brussels meeting, Britain ready to compromise on hedge funds, UK minister slams protectionism of EU rules, Geithner warns EC that AIFM legislation could affect cross-border investing, HSBC’s private bank reports data theft on 15,000 Swiss accounts... [more] Finance ministers may reach agreement on AIFM in 16-March Brussels meeting
From Europeanvoice.com: Hedge fund and private equity bosses will be following a meeting of the EU's finance ministers in Brussels next Tuesday (16 March) with particular interest. The ministers are likely to take
Middle East – Shariah Capital sees more Islamic hedge funds taking off, Dubai World to make first concrete debt proposals,... [more] Shariah Capital sees more Islamic hedge funds taking off
From Reuters.com: More sharia hedge funds are likely to be launched, specialising in healthcare, telecoms and technology stocks, a U.S. financial firm said, as the industry debates how far Islam sanctions such investments.
F
Asia – Korea Investment Trust Company to offer investors exposure to hedge funds, Structured product issuers call on Hong Kong's SFC to keep safe-harbour rules, CFA Institute report highlights related-party transaction risks in Japan... [more] Korea Investment Trust Company to offer investors exposure to hedge funds
From AsianInvestor.net: Korea Investment Trust Company expects Korean investors to increase their appetite for risk assets and is expanding its capabilities to offer them exposure to hedge funds.
Hedge fund
Australia – AFM: Astarra/Trio debacle continues with more twists and turns - questions we'd like to ask, AFM: Hedge fund index up 0.18% (est.) in February, -1.24% YTD, Model hedge fund portfolio should be less volatile than underlying equity markets – AFM, Macquarie may seek U.S. purchases in ‘once-in-generation’ push... [more] AFM: Astarra/Trio debacle continues with more twists and turns - questions we'd like to ask
By Australian Fund Monitors: The Astarra/Trio debacle continues although claim and counterclaim seems to be adding to the overall confusion, and no doubt distress, of their hapless investors. Thi
Derivatives – Wall Street mobilizes to shape look of CDS rules, European crackdown on naked swaps may not work without Washington, ECB’s Noyer says low rates fueling hedge fund CDS speculation... [more] Wall Street mobilizes to shape look of CDS rules
From WSJ.com: Investors expressed frustration and anger Wednesday after reports that U.S. and European governments were eager to place new curbs on the use of credit-default swaps. But some on Wall Street acknowledged that changes to the
Legal – Citigroup unit wins CDS dispute with hedge fund VCG Special Opportunities, Steel Partners settles litigation with Icahn affiliate, More wore wires in bid to investigate inside trades in Galleon case, SEC warns investors of phony website targeting Madoff fraud victims, Nadel's lawyers attempt to have a lawsuit dismissed, Ex-New York pension fund officer David Loglisci pleads guilty of corruption... [more] Citigroup unit wins CDS dispute with hedge fund VCG Special Opportunities
From Reuters.com: A Citigroup Inc broker-dealer unit need not face arbitration in a dispute with Channel Islands hedge fund VCG over a credit default swap, a federal appeals court ruled on Wednesday.
VCG Sp
SWFs – Preqin: Sovereign wealth fund assets grow to $3.5tn, 37% funds known to invest in hedge funds... [more] Preqin’s latest report, the 2010 Preqin Sovereign Wealth Fund Review, reveals that the aggregate total assets of all sovereign wealth funds (SWFs) has continued to increase over the past year. The recovery in global equities markets helped certain SWFs regain ground lost as a result of the economic
Environmental – Athamas hedge fund will sell more wood, fewer carbon credits, MSS and Oxigen launch three Sustainable Forestry funds... [more] Athamas hedge fund will sell more wood, fewer carbon credits
From Bloomberg / Businessweek.com: A forestry and carbon hedge fund proposed by Athamas SA will focus on wood rather than carbon credits after United Nations climate talks in December failed to set international targets after
Institutions – UK Pension Protection Fund ups alternative assets... [more] From Reuters.com: The UK agency which steps in to pay pensions when a firm goes bust has earmarked up to a quarter of assets to alternatives like hedge fund-style products and private equity as it seeks to boost diversification and returns.
The Pension Protection Fund (PPF) said on Wednesday
People – Josh Kaplan to run hedge funds for Ascension Health, St. Louis, Uttrup Financial Advisors hires Claus Joergensen as COO and Karen Page as investor relations head, US Futures Industry Association (FIA) elects directors and officers... [more] Josh Kaplan to run hedge funds for Ascension Health, St. Louis
From PIonline.com: Josh Kaplan was named senior director, hedged strategies, at Ascension Health, St. Louis. He will manage the hedge fund allocation in the health-care system's $15 billion in pension and operating assets, he
Service Providers – Transparency, efficiency and networks are three drivers reshaping finance in 2010 – SunGard, Newedge implements new global business line structure, Newedge starts OTC interest rate swap product clearing with International Derivatives Clearinghouse, RTS introduces first phase of technology initiative to reduce latency by 20%... [more] Transparency, efficiency and networks are three drivers reshaping finance in 2010 – SunGard
Pamela Marnell, head of product management for SunGard Financial Systems, said, "In talking to our customers, we've heard three universal business challenges that need to be met in 2010: d
News Briefs – UK FSA publishes financial risk outlook, National Stock Exchange of India and CME Group announce cross-listing relationship, Hedge fund-backed Argentine soy producer Tejar weighs U.S. IPO,... [more] UK FSA publishes financial risk outlook
The Financial Services Authority (FSA) published its Financial Risk Outlook (FRO) outlining the main risks and issues present in its operating environment, affecting firms, markets and consumers…
The analysis which lies behind the FRO helps inform
…And Finally – Criminals feel the sting of recession too... [more] From AP / yahoo.com: They say crime doesn't pay. For one robber in California, it did — but not much. Authorities in Riverside County say a woman with a gun robbed 11 customers at a market and got away with $6.
A Sheriff's Department statement says the woman was armed with a semi-automatic p