Wed, Dec 7, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Old Park Capital sees improving conditions for managed futures

Wednesday, August 28, 2013

Bailey McCann, Opalesque New York:

UK-based Old Park Capital is out with an investor letter citing recent improvement in the performance of their Managed Futures program, noting that the uptick in volatility is likely to be beneficial to the strategy going forward. Hugo van Kuffeler, Chief Operating Officer of Old Park writes that based on the rise in CLOs and investor moves toward risker assets in search for yield, the market is in the midst of another financial bubble.

"What happened in June and to a lesser extent in the last couple of weeks gives a preview of what might come. Also, the difference between the situation to come and what happened in the period from the summer 2008 to the spring 2009 is that the bond holdings will not be able to act as a shock absorber to the equity holdings this time around, as it is highly likely that equities and bonds will move in the same (downward) direction," he writes.

The letter also touches on the recent announcement by PIMCO that the firm is working on a managed futures fund of its own. "PIMCO realise that low interest rates have made it challenging for their fixed income products to produce decent returns for investors, resulting in $18.4bn in outflows in past 12 months," the letter says.

He further notes that PIMCO's move into the managed future space is an endorsement that these types of funds can provide real diversification. Kuffeler also cautions investors against going int......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. M&A - AllianzGI to acquire Sound Harbor Partners, SS&C completes acquisition of Wells Fargo's Global Fund Services business[more]

    AllianzGI to acquire Sound Harbor Partners Allianz Global Investors (AllianzGI), an active investment manager, announced that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the te

  2. People - Nectar Financial hires senior investment team, Texas A&M replaces retiring foundation investment chief, Ex-Cadwalader partner Woolery makes another sudden exit, How to become a Python coder at a top hedge fund, by the co-CTO of Man AHL[more]

    Nectar Financial hires senior investment team Nectar Financial AG, a Swiss financial technology company for wealth and asset management, has announced that it has hired two key senior leaders to spearhead its digital asset management efforts. The company also announced that it has entere

  3. Activist News - Cognizant has introductory discussion with activist investor Elliott; to review letter, Starboard Value makes huge investment in Hewlett Packard, Hedge fund calls for removal of First NBC Bank CEO[more]

    Cognizant has introductory discussion with activist investor Elliott; to review letter From Indiatimes.com: Cognizant said it had an introductory discussion with Elliott Management after receiving the activist hedge fund's letter asking for a board shakeup, a buyback, a dividend and chan

  4. Opalesque Exclusive: Ireland relaxes treatment of direct lending funds[more]

    Bailey McCann, Opalesque New York: The Irish Central Bank has relaxed its treatment of direct lending funds, according to a recently released

  5. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg