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New Managers May 2014

Perspectives: News, views and findings

Investing in credit remains strong despite interest rate talks

Despite fears that investors would run from fixed income as interest rates rise, panelists at the SALT Conference in Las Vegas, Nevada are finding a wealth of opportunities in credit. Across several panels, managers agree that several years into the boom for credit funds, there is more to come.

Indeed, even though interest rates in the US are expected to start rising at some point in the next few years, other macro factors like recapitalizations in Europe and a lack of lending are likely to keep asset flows going into credit. The latest asset flows data from eVestment shows that credit fund AUM is at an all-time high. The universe surpassed its pre-crisis peaks back in 2010 and has been in record territory since.

...The changing face of banks was a constant refrain among credit investors. Non-performing loans, and nonbank lending and specialty finance were cited as opportunities by Deepak Narula Founder & Managing Partner, Metacapital Management. "Refinancing is over," he added by way of explaining the slow down in residential mortgage refinancing.

...Other sources noted a spate of new fund launches. "We're seeing a lot of variety in launches," Ingrid Pierce, Global Managing Partner at Walkers tells Opalesque noting that new managers with some kind of support from a platform or a seeder often have better luck raising assets... You can read Bailey McCann's full article here.

Let's Be Clear - transparency is still lacking in alternative investments

Even as investors push more capital into alternative investments, and regulation seeks to improve transparency, work remains according to a new survey from Intralinks and Opalesque. The report, entitled "Let's Be Clear: A Common View on Transparency," s......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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  1. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Opalesque Exclusive: Loeb, Grantham cite growing economic concerns in letters[more]

    Bailey McCann, Opalesque New York: Hedge fund manager Daniel Loeb, head of Third Point, and Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. have both released their quarterly investor letters today. While news is positive on some fronts, and both men see pockets of opportunity, they also h

  4. Investing – Hedge funds expect Netflix earnings to catapult forward, Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, Lake Capital in talks to back Engine Group[more]

    Hedge funds expect Netflix earnings to catapult forward From Investing.com: Netflix has made major strides forward in 2014 despite ongoing battles with the FCC and cable companies over the issue of net neutrality. The FCC has now received over 500,000 comments from the public on its pend

  5. Opalesque Roundtable: European family offices struggle to retain their investments in offshore hedge funds[more]

    Komfie Manalo, Opalesque Asia: The European Union’s Alternative Investment Fund Managers Directive (AIFMD) will constrain investment opportunities amidst concern a number of U.S. fund managers will stop marketing their products in the European Union under the new rule, said Valentin Bohländer fro