Mon, Nov 20, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications

After Brexit shock, global investors rethink hedge funds and alternative investments - Opalesque UK Roundtable

Sign up here for our free Roundtable Scripts - get this unique intelligence by email as Opalesque publishes them:

For anyone dealing with hedge funds or alternative investments, it’s probably worthwhile to remind ourselves where we were in January, February of this year, when a number of investors were asking what the value of hedge funds was, relative to the fees paid to those hedge funds, and what they could get from other products?

Fast forward to today, many investors sit back and say, “Well, given the current level of market uncertainty, what has my hedge fund portfolio done for me relative to my other assets? What has my volatility been? Going forward, do I want to own a portfolio of solely long equities and long bonds in an environment where, for example, we have recently seen the entire Japanese yield curve going negative, or should I also own a less correlated portfolio of hedge funds?”

Fact is that investors are still very much interested in hedge funds and CTAs. The mainstream press seem to have focused their attention on the few institutional investors who have exited their hedge fund investments, and not those that are increasing or the real reasons behind any of the above decisions. The underlying trend is that many more institutional investors are actually getting with more and more assets into hedge funds.

Sure, a number of strategies are up, but what if your hedge funds are down?

But it’s also true that investing in hedge funds is a very intensive business, at least doing it properly is. A lot of hedge fund have performed poorly over the course of the last year-and-a-half or so, and many investors had a relatively miserable experience of investing in hedge funds, and they worry that it might be their fault for picking the wrong ones (the trend to direct investing has probably tended to favor investing in the big, brand name hedge funds, which hasn’t always helped). Whoever carried that particular responsibility may not look that smart now, and so quite a few investors are wondering whether they should do it differently as fees on outsourcing this are now much lower, while the cost of doing the work properly is only going up.

The expected return on traditional assets, which don’t look great, is forcing many people into alternatives, even if they’re a bit reluctant. The current returns also explain some of the resurgence of interest in non-correlated strategies: The CTA Index is up 4% as of early July, Short-Term Traders Index is up 6%, Global Macro is up 2, Discretionary is down 2, and Volatility Traders are up 4. Institutional investors sitting on a portfolio of pure long equities and bonds are somewhat nervous. There is a lot of interest in these strategies, and also equity market neutral and stat arb.

How to make a return without resorting to illiquidity?

A majority of liquidity provisions is 90-day liquidity or less, and so the collapse of liquidity provision for people trading less liquid securities, notably single name credit for example, is really striking. All of the liquidity has moved into index trading [see our discussion of ETF trading and consequences on price discovery in our recent France Roundtable]. This means that quite a lot of conventional and very successful hedge fund strategies, for example some of the credit long/short strategies, can only be done on longer time horizons than managers have for their client capital. Managers and multi-managers are shying away from anything that looks less liquid, even though the expected return from it is clearly better. The challenge is how to make a return without resorting to illiquidity? Find out in this Roundtable script how the industry has innovated to get fees down and capital efficiency up to address this key issue.

Unstable managers: Fund turnover is the hedge fund investor’s biggest headache

The biggest problem with our entrepreneurial industry is the large fund turnover. It’s incredibly hard when you look at the industry now to remember what it looked like in 2006, so just ten years ago. It’s astounding how many of funds have disappeared, and when they disappear they normally take you for a loss at the same time; generally they don’t go out at the top. But if you do the work an underlying pattern becomes visible, and the reality is that there are certain strategies in which the turnover is much higher than others. This Roundtable discusses certain inherent characteristics of strategies and identifies typical blow up strategies and also some that can be much more stable.

The Opalesque 2016 U.K. Roundtable, sponsored by Societe Generale and Eurex, took place in early July at SG’s London office with:

  1. Heath Davies, Global Head of Hedge Fund Research, HSBC Alternative Investments
  2. Keith Haydon, Chief Investment Officer, Man FRM
  3. Paul Marriage, Head of UK Dynamic team, Schroders
  4. Jean François Comte, Managing Partner of Lutetia Capital
  5. Dr. Murat Baygeldi, Senior Vice President Equity and Equity Index Sales London, Eurex
  6. Bill Geake, Multi strategy Prime Brokerage Sales, Societe Generale
  7. Duncan Crawford, Hedge Fund Sales & Capital Introductions, Global Head Prime Services, Societe Generale
The group also discussed:
  • How were UK equity hedge funds positioned going into Brexit? Why did some investors mix their EURO STOXX 50 position with VSTOXX before the vote? What’s their strategy now?
  • How does the London financial elite interpret the outcome of the Brexit vote? What’s the real risk longterm? Should Brexit happen, how do UK based hedge funds see their future?
  • How can investors come to terms with the problems of investing in hedge funds via very small teams?
  • Which fund vehicle is the best understood onshore structure? In which respect is a 40 Act fund quite different from a UCITS?
  • Why are low fee and high fee investments often better than those sort of mid fee investments?
  • How do fundamental equity managers compete with quants?
  • Fees are a price for capacity. But what are ‘fair’ fees?
  • What’s the difference between smart beta and alternative beta?
  • What is required from a prime broker to be identified both as strong and partnership-oriented?
  • Can also a fund with zero assets attract Man FRM’s interest?
  • Is merger arb an alternative to bonds?

Access the Opalesque Roundtable Series - U.K. 2016 | Download here

The Opalesque Roundtable Series offers unparalleled intelligence on the most important global hedge fund jurisdictions and their players. The Roundtable Series is a free publication from Opalesque and is continually updated. Please scroll down to view the full selection of our Roundtables - covering the globe!

Article Link

Other Opalesque Roundtables in London
Mon, 24 Jul 2017
Opalesque Roundtable Series - U.K. 2017 More informationDownload
Wed, 06 May 2015
Opalesque Roundtable Series - U.K. 2015 More informationDownload
Wed, 01 Oct 2014
Opalesque Roundtable Series - U.K. 2014 More informationDownload
Mon, 24 Jun 2013
Opalesque Roundtable Series - U.K. 2013 More informationDownload
Thu, 01 Nov 2012
Opalesque Roundtable Series - Managed Futures 2012 More informationDownload
Wed, 25 Jul 2012
Opalesque Roundtable Series - U.K. 2012 More informationDownload
Mon, 01 Aug 2011
Opalesque Roundtable Series - U.K. 2011 More informationDownload
Tue, 20 Jul 2010
Opalesque Roundtable Series - U.K. 2010 More informationDownload
Mon, 05 Oct 2009
Opalesque 2009 - U.K Roundtable 2009 More informationDownload
Wed, 02 Jul 2008
Opalesque Roundtable Series - London 2008 More informationDownload
Opalesque Roundtable Series - A Catalogue of Intelligence on Global Hedge Fund Centers:
Tue, 14 Nov 2017
Opalesque Roundtable Series - Malta 2017 More informationDownload
Tue, 07 Nov 2017
Opalesque Roundtable Series - Ireland 2017 More informationDownload
Tue, 24 Oct 2017
Opalesque Roundtable Series - Netherlands 2017 More informationDownload
Mon, 16 Oct 2017
Opalesque Roundtable Series - New York 2017 More informationDownload
Tue, 08 Aug 2017
Opalesque Roundtable Series - Nordic Region 2017 More informationDownload
Wed, 03 May 2017
Opalesque Roundtable Series - France 2017 More informationDownload
Thu, 20 Apr 2017
Opalesque Roundtable Series - Frankfurt 2017 More informationDownload
Thu, 06 Apr 2017
Opalesque Roundtable Series - Zurich 2017 More informationDownload
Sun, 12 Mar 2017
Opalesque Roundtable Series - Gulf (Dubai) 2017 More informationDownload
Tue, 14 Feb 2017
Opalesque Roundtable Series - Cayman 2017 More informationDownload
Wed, 25 Jan 2017
Opalesque Roundtable Series - Geneva 2017 More informationDownload
Thu, 19 Jan 2017
Opalesque Roundtable Series - South Africa 2017 More informationDownload
Wed, 11 Jan 2017
Opalesque Roundtable Series - Netherlands 2016 More informationDownload
Wed, 04 Jan 2017
Opalesque Roundtable Series - Japan 2017 More informationDownload
Thu, 15 Dec 2016
Opalesque Roundtable Series - China 2016 More informationDownload
Wed, 07 Dec 2016
Opalesque Roundtable Series - Hong Kong 2016 More informationDownload
Thu, 01 Dec 2016
Opalesque Roundtable Series - Australia 2016 More informationDownload
Thu, 24 Nov 2016
Opalesque Roundtable Series - Singapore 2016 More informationDownload
Tue, 15 Nov 2016
Opalesque Roundtable Series - Bermuda More informationDownload
Mon, 07 Nov 2016
Opalesque Roundtable Series - Guernsey More informationDownload
Mon, 31 Oct 2016
Opalesque Roundtable Series - New York 2016 More informationDownload
Mon, 24 Oct 2016
Opalesque Roundtable Series - Miami 2017 More informationDownload
Mon, 17 Oct 2016
Opalesque Roundtable Series - 2016 Investor Roundtable More informationDownload
Fri, 22 Jul 2016
Opalesque Roundtable Series - France 2016 More informationDownload
Thu, 14 Jul 2016
Opalesque Roundtable Series - Jersey More informationDownload
Mon, 04 Jul 2016
Opalesque Roundtable Series - Frankfurt 2016 More informationDownload
Tue, 21 Jun 2016
Opalesque Roundtable Series - Malta 2016 More informationDownload
Wed, 08 Jun 2016
Opalesque Roundtable Series - Montreal
Opalesque Roundtable Series - Montreal (French version)
More information
Thu, 10 Mar 2016
Opalesque Roundtable Series - Connecticut 2016 More informationDownload
Wed, 02 Mar 2016
Opalesque Roundtable Series - Latin America 2016 More informationDownload
Mon, 22 Feb 2016
Opalesque Roundtable Series - Geneva 2016 More informationDownload
Mon, 15 Feb 2016
Opalesque Roundtable Series - Japan 2016 More informationDownload
Sun, 07 Feb 2016
Opalesque Roundtable Series - Zurich 2016 More informationDownload
Wed, 27 Jan 2016
Opalesque Roundtable Series - Cayman 2016 More informationDownload
Mon, 18 Jan 2016
Opalesque Roundtable Series - China More informationDownload
Fri, 01 Jan 2016
Opalesque Roundtable Series - Hong Kong 2015 More informationDownload
Thu, 24 Dec 2015
Opalesque Roundtable Series - Singapore 2015 More informationDownload
Wed, 16 Dec 2015
Opalesque Roundtable Series - Miami 2016
Opalesque Roundtable Series - Miami 2016 (Mandarin version)
Opalesque Roundtable Series - Miami 2016 (Portuguese version)
More information
Thu, 10 Dec 2015
Opalesque Roundtable Series - South Africa 2016 More informationDownload
Wed, 02 Dec 2015
Opalesque Roundtable Series - Australia 2015 More informationDownload
Wed, 25 Nov 2015
Opalesque Roundtable Series - Nordic Region 2015 More informationDownload
Tue, 17 Nov 2015
Opalesque Roundtable Series - Investor Roundtable More informationDownload
Thu, 05 Nov 2015
Opalesque Roundtable Series - France 2015 More informationDownload
Fri, 30 Oct 2015
Opalesque Roundtable Series - Russia 2015 More informationDownload
Fri, 23 Oct 2015
Opalesque Roundtable Series - Gibraltar 2015 More informationDownload
Fri, 16 Oct 2015
Opalesque Roundtable Series - Fund Operations More informationDownload
Tue, 06 Oct 2015
Opalesque Roundtable Series - Netherlands 2015 More informationDownload
Fri, 14 Aug 2015
Opalesque Roundtable Series - West Coast 2015 More informationDownload
Sat, 01 Aug 2015
Opalesque Roundtable Series - Ireland More informationDownload
Wed, 22 Jul 2015
Opalesque Roundtable Series - Baltimore More informationDownload
Thu, 25 Jun 2015
Opalesque Roundtable Series - Malta 2015 More informationDownload
Thu, 04 Jun 2015
Opalesque Roundtable Series - Frankfurt 2015 More informationDownload
Thu, 28 May 2015
Opalesque Roundtable Series - Boston 2015 More informationDownload
Fri, 15 May 2015
Opalesque Roundtable Series - Canada 2015 More informationDownload
Thu, 26 Mar 2015
Opalesque Roundtable Series - Texas 2015 More informationDownload
Fri, 20 Mar 2015
Opalesque Roundtable Series - Cayman 2015 More informationDownload
Tue, 10 Mar 2015
Opalesque 2015 LIQUID ALTERNATIVES Roundtable More informationDownload
Tue, 10 Feb 2015
Opalesque Roundtable Series - Geneva 2015 More informationDownload
Thu, 05 Feb 2015
Opalesque Roundtable Series - Miami 2015
Opalesque Roundtable Series - Miami 2015 (Mandarin version)
Opalesque Roundtable Series - Miami 2015 (Portuguese version)
More information
Thu, 29 Jan 2015
Opalesque Roundtable Series - Zurich 2015 More informationDownload
Tue, 20 Jan 2015
Opalesque Roundtable Series - South Africa 2015 More informationDownload
Thu, 08 Jan 2015
Opalesque Roundtable Series - Japan 2014 More informationDownload
Tue, 23 Dec 2014
Opalesque Roundtable Series - Australia 2014 More informationDownload
Wed, 10 Dec 2014
Opalesque Roundtable Series - Hong Kong 2014 More informationDownload
Mon, 01 Dec 2014
Opalesque Roundtable Series - Singapore 2014 More informationDownload
Thu, 20 Nov 2014
Opalesque Roundtable Series - Gulf (Dubai) 2014 More informationDownload
Tue, 04 Nov 2014
Opalesque Roundtable Series - Gibraltar More informationDownload
Tue, 28 Oct 2014
Opalesque Roundtable Series - Russia 2014 More informationDownload
Mon, 20 Oct 2014
Opalesque Roundtable Series - Luxembourg More informationDownload
Wed, 08 Oct 2014
Opalesque Roundtable Series - Netherlands 2014 More informationDownload
Thu, 03 Jul 2014
Opalesque Roundtable Series - France 2014 More informationDownload
Fri, 27 Jun 2014
Opalesque Roundtable Series - Frankfurt 2014 More informationDownload
Wed, 14 May 2014
Opalesque Roundtable Series - Malta 2014 More informationDownload
Fri, 07 Mar 2014
Opalesque Roundtable Series - Cayman 2014 More informationDownload
Wed, 05 Feb 2014
Opalesque Roundtable Series - Geneva 2014 More informationDownload
Wed, 22 Jan 2014
Opalesque Roundtable Series - Zurich 2014 More informationDownload
Fri, 17 Jan 2014
Opalesque Roundtable Series - South Africa 2014 More informationDownload
Tue, 07 Jan 2014
Opalesque Roundtable Series - Miami 2014
Opalesque Roundtable Series - Miami 2014 (Spanish version)
Opalesque Roundtable Series - Miami 2014 (Portuguese version)
More information
Tue, 17 Dec 2013
Opalesque Roundtable Series - Brazil 2013 More informationDownload
Mon, 09 Dec 2013
Opalesque Roundtable Series - New York 2013 More informationDownload
Mon, 18 Nov 2013
Opalesque 2013 Chicago Roundtable More informationDownload
Thu, 07 Nov 2013
Opalesque 2013 HARD ASSETS Roundtable More informationDownload
Wed, 16 Oct 2013
Opalesque Roundtable Series - Nordic Region 2013 More informationDownload
Mon, 05 Aug 2013
Opalesque Roundtable Series - Connecticut 2013 More informationDownload
Tue, 16 Jul 2013
Opalesque Roundtable Series - Frankfurt 2013 More informationDownload
Wed, 10 Jul 2013
Opalesque Roundtable Series - France 2013 More informationDownload
Tue, 02 Jul 2013
Opalesque Roundtable Series - Gulf (Abu Dhabi) 2013 More informationDownload
Mon, 17 Jun 2013
Opalesque Roundtable Series - West Coast 2013 More informationDownload
Wed, 12 Jun 2013
Opalesque Roundtable Series - Australia 2013 More informationDownload
Thu, 30 May 2013
Opalesque Roundtable Series - Hong Kong 2013 More informationDownload
Mon, 20 May 2013
Opalesque Roundtable Series - Japan 2013 More informationDownload
Tue, 14 May 2013
Opalesque Roundtable Series - Singapore 2013 More informationDownload
Wed, 13 Mar 2013
Opalesque Roundtable Series - Netherlands 2013 More informationDownload
Mon, 21 Jan 2013
Opalesque Roundtable Series - Florida 2013 More informationDownload
Mon, 14 Jan 2013
Opalesque Roundtable Series - Cayman 2013 More informationDownload
Mon, 17 Dec 2012
Opalesque Roundtable Series - Geneva 2013 More informationDownload
Wed, 05 Dec 2012
Opalesque Roundtable Series - South Africa 2013 More informationDownload
Mon, 26 Nov 2012
Opalesque Roundtable Series - Zurich 2012 More informationDownload
Tue, 23 Oct 2012
Opalesque Roundtable Series - New York 2012 More informationDownload
Tue, 16 Oct 2012
Opalesque Roundtable Series - Connecticut 2012 More informationDownload
Tue, 02 Oct 2012
Opalesque Roundtable Series - Canada 2012 More informationDownload
Mon, 24 Sep 2012
Opalesque Roundtable Series - Nordic Region 2012 More informationDownload
Tue, 17 Jul 2012
Opalesque Roundtable Series - Monaco 2012 More informationDownload
Thu, 05 Jul 2012
Opalesque Roundtable Series - Frankfurt 2012 More informationDownload
Thu, 14 Jun 2012
Opalesque Roundtable Series - Japan 2012 More informationDownload
Thu, 07 Jun 2012
Opalesque Roundtable Series - Hong Kong 2012 More informationDownload
Wed, 30 May 2012
Opalesque Roundtable Series - Singapore 2012 More informationDownload
Wed, 23 May 2012
Opalesque Roundtable Series - Australia 2012 More informationDownload
Thu, 10 May 2012
Opalesque Roundtable Series - Gulf (Abu Dhabi) 2012 More informationDownload
Thu, 03 May 2012
Opalesque Roundtable Series - France 2012 More informationDownload
Wed, 04 Apr 2012
Opalesque Roundtable Series - Brazil 2012 More informationDownload
Thu, 12 Jan 2012
Opalesque Roundtable Series - Geneva 2012 More informationDownload
Wed, 21 Dec 2011
Opalesque Roundtable Series - Pfäffikon 2012 More informationDownload
Fri, 09 Dec 2011
Opalesque Roundtable Series - South Africa 2012 More informationDownload
Thu, 24 Nov 2011
Opalesque Roundtable Series - Netherlands 2011 More informationDownload
Mon, 14 Nov 2011
Opalesque Roundtable Series - Texas 2011 More informationDownload
Mon, 07 Nov 2011
Opalesque Roundtable Series - Boston 2011 More informationDownload
Mon, 31 Oct 2011
Opalesque Roundtable Series - Cayman 2011 More informationDownload
Mon, 24 Oct 2011
Opalesque Roundtable Series - Connecticut 2011 More informationDownload
Thu, 06 Oct 2011
Opalesque Roundtable Series - New York 2011 More informationDownload
Wed, 10 Aug 2011
Opalesque Roundtable Series - France 2011 More informationDownload
Mon, 25 Jul 2011
Opalesque Roundtable Series - Austria 2011 More informationDownload
Wed, 29 Jun 2011
Opalesque Roundtable Series - Frankfurt 2011 More informationDownload
Thu, 19 May 2011
Opalesque Roundtable Hong Kong 2011 More informationDownload
Mon, 02 May 2011
Opalesque Roundtable Series - Singapore 2011 More informationDownload
Tue, 26 Apr 2011
Opalesque Roundtable Series - Australia 2011 More informationDownload
Sun, 10 Apr 2011
Opalesque Roundtable Series - New Zealand 2011 More informationDownload
Sun, 03 Apr 2011
Opalesque Roundtable Series - West Coast 2011 More informationDownload
Fri, 25 Mar 2011
Opalesque Roundtable Series - Colorado 2011 More informationDownload
Thu, 20 Jan 2011
Opalesque Roundtable Series - Geneva 2010 More informationDownload
Sun, 19 Dec 2010
Opalesque Roundtable Series - Malta 2011 More informationDownload
Tue, 14 Dec 2010
Opalesque Roundtable Series - South Africa 2011 More informationDownload
Fri, 03 Dec 2010
Opalesque Roundtable Series - Connecticut 2010 More informationDownload
Thu, 18 Nov 2010
Opalesque Roundtable Series - New York 2010 More informationDownload
Tue, 09 Nov 2010
Opalesque Roundtable Series - Singapore 2010 More informationDownload
Thu, 04 Nov 2010
Opalesque Roundtable Series - Cayman 2010 More informationDownload
Mon, 25 Oct 2010
Opalesque Roundtable Series - Hong Kong 2010 More informationDownload
Mon, 04 Oct 2010
Opalesque Roundtable Series - Zurich 2010 More informationDownload
Wed, 16 Jun 2010
Opalesque Roundtable Series - Florida More informationDownload
Sun, 06 Jun 2010
Opalesque Roundtable Series - Boston 2010 More informationDownload
Mon, 24 May 2010
Opalesque Roundtable Series - West Coast 2010 More informationDownload
Sat, 08 May 2010
Opalesque Roundtable Series - Texas 2010 More informationDownload
Wed, 28 Apr 2010
Opalesque Roundtable Series - Brazil 2010 More informationDownload
Mon, 29 Mar 2010
Opalesque Roundtable Series - New Zealand 2010 More informationDownload
Thu, 18 Mar 2010
Opalesque Roundtable Series - Australia 2010 More informationDownload
Thu, 04 Mar 2010
Opalesque Roundtable Series - Japan 2010 More informationDownload
Sat, 09 Jan 2010
Opalesque Roundtable Series - South Africa 2010 More informationDownload
Tue, 15 Dec 2009
Opalesque Roundtable Series - France 2009 More informationDownload
Mon, 30 Nov 2009
Opalesque Roundtable Series - Geneva 2009 More informationDownload
Tue, 17 Nov 2009
Opalesque Managed Futures Roundtable - Chicago 2009 More informationDownload
Mon, 09 Nov 2009
Opalesque Roundtable Series - Canada 2009 More informationDownload
Mon, 19 Oct 2009
Opalesque Roundtable Series - Connecticut 2009 More informationDownload
Fri, 26 Jun 2009
Opalesque Roundtable Series - New York 2009 More informationDownload
Tue, 09 Jun 2009
Opalesque Roundtable Series - Cayman 2009 More informationDownload
Fri, 29 May 2009
Opalesque Roundtable Series - Japan 2009 More informationDownload
Thu, 21 May 2009
Opalesque Roundtable Series - U.S. West Coast 2009 More informationDownload
Wed, 13 May 2009
Opalesque Roundtable Series - Hong Kong 2009 More informationDownload
Fri, 24 Apr 2009
Opalesque Roundtable Series - Singapore 2009 More informationDownload
Thu, 19 Mar 2009
Opalesque Roundtable Series - Zurich 2009 More informationDownload
Fri, 05 Dec 2008
Opalesque Roundtable Series - South Africa 2008 More informationDownload
Mon, 17 Nov 2008
Opalesque Roundtable Series - Brazil 2008 More informationDownload
Fri, 07 Nov 2008
Opalesque Roundtable Series - Russia 2008 More informationDownload
Mon, 20 Oct 2008
Opalesque Roundtable Series - Nordic Region 2008 More informationDownload
Wed, 01 Oct 2008
Opalesque Roundtable Series - Geneva 2008 More informationDownload
Wed, 11 Jun 2008
Opalesque Roundtable Series - New York 2008 More informationDownload
Fri, 23 May 2008
Opalesque Roundtable Series - Japan 2008 More informationDownload
Tue, 20 May 2008
Opalesque Roundtable Series - Hong Kong - Mandarin (Chinese) language More informationDownload
Wed, 30 Apr 2008
Opalesque Roundtable Series - Hong Kong 2008 More informationDownload
Wed, 23 Apr 2008
Opalesque Roundtable Series - Singapore 2008 More informationDownload
Tue, 25 Mar 2008
Opalesque Roundtable Series - Australia 2008 More informationDownload
Mon, 17 Mar 2008
Opalesque Roundtable Series - New Zealand 2008 More informationDownload
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. Middle East - Saudi-Iran war would create this domino effect of global disaster, Saudi billionaires said to move funds from region to escape asset freeze[more]

    Saudi-Iran war would create this domino effect of global disaster From CNBC.com: Events appear to be spinning out of control in the Middle East, and the threat a Saudi-Iranian war is looking increasingly credible. Make no mistake, an out and out conflict between the two nations would be

  2. Paradise Papers - Robert Mercer's effort to avoid taxes appears in Paradise Papers, Tycoon made $41m from 'people's fund', Oxford and Cambridge 'investing millions of pounds offshore', Paradise Papers reveal[more]

    Robert Mercer's effort to avoid taxes appears in Paradise Papers From Therealnews.com: The Guardian has reported that conservative billionaire and Trump backer Robert Mercer "appears as a director of eight Bermuda companies in the Paradise Papers," the trove of documents reviewed by the

  3. Wall Street hedge fund veteran hits highs with copycat tactics[more]

    From FNLondon.com: A Wall Street veteran who has made big returns for wealthy clients by piggybacking on the strategies of well-known hedge funds is taking his novel approach to stock-picking to institutional clients. Dixon Boardman, chief executive of $2.5bn fund of hedge funds Optima Fund Ma

  4. Launches - Eaton Vance, Oaktree to launch diversified credit NextShares fund, FIM launches Nordic AI-powered fund[more]

    Eaton Vance, Oaktree to launch diversified credit NextShares fund Eaton Vance Management, a subsidiary of Eaton Vance Corp., announced the expected mid-November launch of Eaton Vance Oaktree Diversified Credit NextShares, a new Eaton Vance-sponsored exchange-traded managed fund. Eaton Va

  5. Outlook - Gundlach's stock market warning comes true[more]

    From Bloomberg.com: Jeffrey Gundlach has been warning something's got to give. Based on the past two days, looks like we have our answer. Stocks fell around the world a second day and high-yield bonds headed for a fourth straight loss, resuming a historic correlation that the hedge fund manager on W