Sun, Oct 23, 2016
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 - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Macro hedge funds up 3.3% in one week on Fed and Brexit pays off[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were boosted by the strong performance of global macro funds, with the Lyxor Global Macro Index gaining 3.3% as of the week ending Oct. 11 (-1.7% YTD), Lyxor Asset Management reported. Their short on the p