Opalesque Exclusive: Frontier markets kicked off year with a good start: Consilium Frontier market fund is up 3.43% in JanuaryArticle 640564 Publication Date: 2012-02-07 From Precy Dumlao, Opalesque Asia: The frontier markets helped push the global equity markets off to a good start this year, giving a much needed market respite after a very difficult 2012. The MSCI Frontier Equity Index and Russell Frontier Equity Index ex-GCC gained +0.48% and +1.76%, respectively. However, Consilium Investment Management’s Frontier Strategy outpaced both indices during the month and returned +3.43%. The positive perf... |
Retail asset managers prefer marketing technology and value-add marketing experts this yearArticle 640565 Publication Date: 2012-02-07 Precy Dumlao, Opalesque Asia: After bucking a difficult year in 2011 and expecting a challenging 2012, retail asset managers are looking to hire marketing technology and value-add marketing experts to meet the demands of the volatile markets, according to Cerulli Associates’ latest study, Retail Product Marketing and Sales Organizations 2011. The study is part of Cerulli Associates’ annual analysis of the s... |
Opalesque Exclusive: FRM forecasts outlook for hedge funds over 2012Article 640562 Publication Date: 2012-02-06 By Beverly Chandler, Opalesque London: Global hedge fund research and investment specialist Financial Risk Management (FRM) has produced its market summary for January 2012 and its outlook for the rest of the year. Over January, FRM reveals that there was a broad-based rally in equity markets with small caps outperforming large caps and growth stocks rallying more than value stocks. Among global ... |
Opalesque Exclusive: Eurofin chief investment officer believes 'crisis fatigue’ has set in for investment managersArticle 640563 Publication Date: 2012-02-06 By Beverly Chandler, Opalesque London: James M.M. Edwards, Chief Investment Officer, Eurofin Capital, the Lausanne and London based privately owned investment company, posed the timely question ’A new year, a new set of challenges’ for his monthly newsletter, expressing what he called a 'strange sense of déjà-vu’. "The Greek debacle is still not resolved, Iran is threatening to block the Hormuz Straights, thus cutting... |
Opalesque Exclusive: Nobody knows what would really happen to fund industry if eurozone were to break upArticle 640539 Publication Date: 2012-02-06 Benedicte Gravrand, Opalesque Geneva: What would happen to the fund industry if the eurozone were to deteriorate or even break up? Would funds move to other domiciles, and which ones? According to Simon Osborn, CEO of FundDomiciles.com, we don’t really know. In fact, nobody has a clue. It’s complicated. Wait-and-see stance Although we will know a little more after March 20th, when Greece has to make a bond payment, he s... |
Opalesque Exclusive: Asia dominates Latin America in OTC derivatives marketsArticle 640540 Publication Date: 2012-02-06 From Precy Dumlao, Opalesque Asia: The Asian OTC derivatives market is much larger than its Latin American counterpart with Singapore leading the OTC interest rate derivatives market averaging $35bn in daily turnover in April 2010, said a new report by research and advisory firm Celent. In its 38-page report entitled OTC Derivatives in Asia and Latin America: Evolution and Regulation, Celent said that Hong Kong is the second largest OTC d... |
Opalesque Exclusive: Proprietary trading and alternative investment firm offers focussed approach to maximising value creationArticle 640541 Publication Date: 2012-02-06 By Beverly Chandler, Opalesque London: Fernando Lolo’s Directional Alpha, is a proprietary trading and alternative investment firm headquartered in Washington DC, focusing on global-macro and event-driven investment strategies, founded in 2011. Lolo, who has the CAIA qualification, brings with him over 16 years of experience in alternatives portfolio management, financial engineering, quantitative finance, carbon finance, private equity/venture capital, and alternative asset management. ... |
Hedge fund Harbinger fell 47% in 2011, dragged down by troubled LightSquaredArticle 640542 Publication Date: 2012-02-06 From Precy Dumlao, Opalesque Asia – Phil Falcone’s exposure in next generation broadband company, LightSquared, has dragged down profits as the billionaire hedge fund manager’s Harbinger Capital lost 47% last year after slashing the value of his troubled wireless venture by more than 50%, it was reported. Harbinger Capital Partners Offshore Fund I sustained the big... |
Opalesque Exclusive: New opportunities in emerging market currenciesArticle 640543 Publication Date: 2012-02-06 Bailey McCann, Opalesque New York: Despite large sell offs late last year, emerging market currencies present an enticing opportunity according to Bart Turtelboom, managing director and co-head of global emerging markets at New York-based GLG partners. Turtelboom is an expert in emerging markets, having previously worked in emerging markets at Deutsche Bank and the International Monetary Fund (IMF). |
TPG buys hedge fund administrator GlobeOpArticle 640544 Publication Date: 2012-02-06 Bailey McCann, Opalesque New York: London and New York-based hedge fund administrator GlobeOp has been purchased by Texas-based buyout firm TPG. TPG will pay $800m for GlobeOp, financed through Credit Suisse. The purchase marks a shift for TPG into the hedge fund industry. |
Opalesque Exclusive: Trouble in court for Gupta, Greenlight, Paulson, Tiger, Moody’s – and other hedge fund news, Week 5Article 640545 Publication Date: 2012-02-06 In the week-ending February 3, 2012, it was reported that Deutsche Bank is preparing to launch a fund to snap up investors’ illiquid of damaged holdings in hedge funds; London-based Ruby Capital Partners launched a pure litigation fund in the UK; two former senior traders at Credit Suisse revealed their plan to launch a stocks and derivatives hedge fund th... |
Launches – Former multi-billion dollar hedge fund manager Sal Naro to launch Coherence Capital Partners LLC, Hintze’s CQS starts ABS hedge fund after prices fell last year, Barclays Capital plans global macro onshore fund launchArticle 640546 Publication Date: 2012-02-06 Former multi-billion dollar hedge fund manager Sal Naro to launch Coherence Capital Partners LLC Sal Naro, former co-managing partner of Sailfish Capital, a $4.4 billion asset management firm with approximately $2 billion in hedge fund assets, is announcing the launch of Coherence Capital Partners LLC (Coherence Capital). Mr. Naro was most recently a shareholder in and Vice Chairman of Jefferson National Financial Corp. and Chief Executive Officer of Jefferson National Asset Managemen... |
Performance – European hedge fund stars profit in buoyant January, Paulson’s Advantage Plus hedge fund said to rise 5% in JanuaryArticle 640547 Publication Date: 2012-02-06 European hedge fund stars profit in buoyant January From Reuters.com: Star European hedge fund managers including Crispin Odey and Pierre Lagrange were among the top performers in an upbeat January for the industry, as the European Central Bank's cash boost for battered banks fuelled a stock market rally. Shrugging off a disappointing 2011, in which the average hedge fund lost around 5 percent according to HFRI, managers profited from gains in most assets as investors bet a sol... |
Indices – HFRX Global Hedge Fund Index gains +1.72% in January, Comment: Disappointing picture for hedge fund trusts, Dow Jones Credit Suisse Core Hedge Fund Index closed up 2.26% in JanuaryArticle 640548 Publication Date: 2012-02-06 HFRX Global Hedge Fund Index gains +1.72% in January Global equities posted strong gains to begin 2012 with leadership from Technology and Financials, as US economic data showed signs of improvement and sentiment improved with regard to clarity on resolution of the European sovereign debt crisis. The US Dollar declined against the Euro and Yen, while the US treasury curved steepened as longer dated yields rose. Credit tightened throughout the month while commodity metals rallied, des... |
Investing – Israel Englander’s hedge fund cuts stake in Sunrise Senior Living to 3.5%, Weinstein says stocks attractive compared with overvalued credit, U.S. hedge funds capitalise on Lehman collapse, Comment: Do hedge funds like Facebook's IPO?Article 640549 Publication Date: 2012-02-06 Israel Englander’s hedge fund cuts stake in Sunrise Senior Living to 3.5% From Citybizlist.com: Israel Englander's Millennium Management LLC has cut its stake in Sunrise Senior Living Inc. to 3.5 percent worth $16.20 million, according to an SEC filing. The New York-based hedge fund said it owned 2 million shares in the McLean, Va.-based developer of senior living services, down from 2.21 million shares, representing a 3.83 percent stake worth $10.23 million last September. T... |
Institutions – Institutional investors set to dump poor hedge fund performers, Church of England doubles investment with under-fire hedge funds, Europe’s pensions flee hedge funds, North Carolina Retirement Systems to increase hedge fund investmentsArticle 640550 Publication Date: 2012-02-06 Institutional investors set to dump poor hedge fund performers From PIonline.com: Institutional investors will be sharpening their scalpels in 2012, cutting managers that failed to provide what they promised: absolute return. Last year was the second-worst year for hedge fund performance in the 22 years that Hedge Fund Research Inc. has been tracking industry returns, and the patience that institutional investors had for subpar hedge fund performance is evaporating fast, said industr... |
Roubini sees continuing danger for global economic outlook in 2012 and beyondArticle 640551 Publication Date: 2012-02-06 From Investmenteurope.net: Advanced economies, compared with emerging markets, have better fundamentals, but getting back to ‘normal' will be a multi-year process, says economist Nouriel Roubini. Nouriel Roubini is an economist to be reckoned with. His outspoken and acerbic comments on the world’s economic woes may have earned him the nickname Doctor Doom, but his pronouncements and forecasts are uncannily accurate. Through Roubini Global Economics (RGE), an independent global macroeconomi... |
Comment – Japanese hedge fund manager Shuhei Abe out to stop the slumpArticle 640552 Publication Date: 2012-02-06 From FT.com: Twenty-three years on from founding what was once Asia’s largest hedge fund group, Shuhei Abe is still brimming with ideas. On a visit to disaster zones in Japan’s Miyagi prefecture last June, for example, the chief executive of Sparx Group was struck by the lack of accommodation for the volunteers and relief workers that would soon descend on the area. Within a few months Sparx had teamed up with a Tokyo-based hotelier to set up a special-purpose company that sold Y1bn ($14m) of bo... |
Regulatory – SEC preps for hedge, private equity fund work, UK looks to bridge regulatory divide with U.SArticle 640553 Publication Date: 2012-02-06 SEC preps for hedge, private equity fund work From Reuters/XE.com: The U.S. Securities and Exchange Commission is about to learn just how big the private fund industry really is. Then it will take on a new mission: Figuring out where the risks in the industry exist, something private fund advisers should take seriously. Regulators plan to launch a series of exams that will cover 'a significant percentage' of private equity fund advisers who by March 31 must register with the ag... |
MF Global Update – MF Global ‘break-the-glass’ plan outlined options for downgrade, Two firms flourish in frenzied MF Global aftermathArticle 640554 Publication Date: 2012-02-06 MF Global ‘break-the-glass’ plan outlined options for downgrade From Bloomberg/Businessweek.com: Senior executives at MF Global Holdings Ltd., anticipating collateral calls on European debt trades, raised the possibility of removing the transactions from central clearinghouses designed to reduce risk, according to a contingency plan drafted weeks before the firm’s bankruptcy. The 23-page “break-the-glass” plan prepared by the broker’s treasury, finance and risk divisions at the... |