Opalesque - NEW MANAGERS

Profiles - Stone Toro and Varden Pacific talk about their funds

Fri, 24 May 2013 00:00:00 +0200

Jeffrey Russo Stone Toro Asset Management LLC, an asset management firm based in Princeton, New Jersey was formed at the end of 2009 by three ex-Merrill Lynch colleagues, Mike Jarzyna, Jeffrey Russo, and Richard Jenkins. Jarzyna and Russo were also directors at BlackRock, and Russo, the PM, managed more than $14bn in AUM as a Director there. Their fund, the ST Alpha Event Fund, which ...
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News & Perspectives

Fri, 24 May 2013 00:00:00 +0200

You get one shot as a manager Phillip Chapple, Executive Director with KB Associates UK, a boutique operational consulting firm, told Opalesque's UK-based writer Beverly Chandler that he had already seen 59 potential hedge fund launches so far this year, even though he deems only eight are viable as new businesses. Shortly after he arrived at KB in 2010, he started up a different service he...
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Launches and New Funds' News

Fri, 24 May 2013 00:00:00 +0200

We recently heard of those ex-hedge funders striking out on their own: 1. Dai Jixin, a former manager of Soros Fund Management, plans to start a new hedge fund in Hong Kong, said SCMP. Dai's Xin Tian Fund Management was incorporated in late January with two other directors, Ye Qingjun, chairman of Chinese asset manager DH & YZ Capital, and Zhang Yongjun, DH & YZ's chief in...
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Seeders' Corner News Review

Fri, 24 May 2013 00:00:00 +0200

KeyQuant's new UCITS fund seeded by Emergence KeyQuant SAS, a systematic investment management company established in December 2009, launched the swap-free Key Trends UCITS Fund, the firm's first UCITS IV-compliant vehicle, with initial assets of â�¬30m. Emergence, a French-based seeding platform created in early 2012 and backed by nine major French institutional investors...
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Seeders' Corner - Hermes BPK and Northern Lights' Accelerator Fund focuses on mitigating operational and business risk

Fri, 24 May 2013 00:00:00 +0200

Mark Baker In September 2011, Northern Lights Capital Group, LLC, an $11bn private equity firm based in Seattle, and Hermes BPK Partners LLP, a $1.6bn fund of hedge funds based in the UK, partnered to launch a new investing platform that would provide access to early stage hedge fund managers for institutional investors. The Accelerator Fund was started in March this year, just as it wa...
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Guest Article - A short note on short selling: Four post-crisis headwinds

Fri, 24 May 2013 00:00:00 +0200

Introduction Short selling is an integral component of the hedge fund business model. In addition to mitigating market risk, hedge funds can generate excess returns by identifying overpriced securities. With the ability to both buy and short stocks, hedge funds have roughly double the opportunity set of long only investors, a critical competitive advantage Shorting has always been ...
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Focus - Barriers to entry are high for emerging hedge fund businesses in Canada

Fri, 24 May 2013 00:00:00 +0200

North of the main hedge fund country is another one, a bit larger in terms of square miles, and where around $31bn is managed by local hedge funds. This is Canada. I spoke with some experts on what it is like to set up a hedge fund in Canada: the COO of AIMA Canada, a lawyer and two hedge fund managers who recently set up shop in Canada. All of them presented at a workshop on starting ...
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EManagers DB Insights - EManagers global macro index generates 11 positive quarters out of 13 since 2010

Fri, 24 May 2013 00:00:00 +0200

After 2008, many investors turned toward those hedge funds which are more secular in nature. Since a global macro strategy tries to cope with global market volatility of all sorts, it is one of the most sought-after strategies in the hedge funds market. A global macro hedge fund manager trades in the broader market, globally. The manager invests in equities, bonds, currencies, interest ra...
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New Funds in the Database - Funds that have recently joined the Opalesque EManagers database

Fri, 24 May 2013 00:00:00 +0200

The Opalesque Solutions Emerging Managers Database is an extremely niche and specialised database of Emerging Hedge Fund Managers, and access is available for eligible investors such as Funds of Funds, Family Offices, Pension Funds and UHNWI globally as well as academia and research analysts. For the sake of this database, we define an asset manager as "emerging manager&quo...
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Peter Urbani' Statistics - Ignoring serial auto-correlation may understate hedge fund volatility by more than 30%

Fri, 24 May 2013 00:00:00 +0200

In a recent paper, Marcos Lopez de Prado of Hess Energy Trading Company and David H. Bailey of Lawrence Berkeley National Laboratory, derive closed form approximations for Expected Maximum Drawdown (MaxDD). They also derive formulae for the expected time to reach the Maximum Drawdown (t*) and the expected Maximum Time Under Water (MaxTuW), which under the assumption of IID Normality t...
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