Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
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

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1