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Alternative Market Briefing

Pfaffikon based hedge fund managers report on mixed year over 2011 and look forward to 2012

Wednesday, December 28, 2011

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Maximilian Spiess
By Beverly Chandler, Opalesque London:

Maximilian Spiess of FX Concepts reported at the Opalesque Roundtable in Pfaffikon, sponsored by Taussig Capital and Custom House and hosted by the Pfaffikon Financial Center, that his firm is hoping that volatility in the currency markets over 2012 will be a little more relaxed.

"We have had some difficulties mainly due to this volatility, because there was no clear trend to be spotted. We are looking more and more into high frequency trading, which is one of the new things we are expecting more returns from" Spiess said.

Tilman Keese, co-founder of Allmountain Capital reported that over 2011 their managed futures program flourished. "Managed Futures, as an investment class, are currently in a drawdown, like most other alternative strategies. By end of October, the Managed Futures Indices are down about -6%. Given this unfavorable environment, our Managed Futures program did quite well and is up +10% year-to-date" he said.

He had found that current markets do not favour large trends. "There are many offsetting elements impacting markets. On one hand, federal banks, central banks are easing. On the other, consumption is slow due to consumer de-leveraging after the financial crisis 2008" he said.

Over 2011, the firm had seen a moderately good trend environment. "Many of the trends faltered later, starting with the commodities, followed b......................

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