Today's Exclusives

• Opalesque Exclusive: Diligence gaps raise flags as litigation finance gets boost [more]

  Bailey McCann, Opalesque New York: Litigation finance firms could be unexpected beneficiaries of the coronavirus crisis. Litigation funders are usually paid out when cases resolve. However, as cases stall out in courts that are either closed or wrestling with how to conduct virtual trials, litiga

• Lyxor maintains an overweight stance on Merger Arbitrage strategies despite volatility increases [more]

  Laxman Pai, Opalesque Asia: Merger Arbitrage was among the most resilient hedge fund strategies during the first part of the market sell-off. However, during the second and third week of March, deal spreads widened indiscriminately, approaching levels last seen during the global financial crisis.

• CTA's positively skewed performance helps reduce tail risk in a diversified hedge fund portfolio [more]

  Opalesque Industry Update - By: Donald A. Steinbrugge, Founder and CEO Agecroft Partners Commodity Trading Advisors (CTAs) are one of only a few hedge fund strategies that performed well throughout the market selloffs of 2000-2002, 2008 and 1st Q of 2020. Yet, investor's perception of the strat

Today's Other Voices

• Other Voices: ESMA proposes formal limits to leverage potentially affecting alternative funds [more]

  Bill Prew, CEO of INDOS Financial, a UK-based independent fund depositary and oversight business, has flagged the following new regulatory proposals potentially impacting alternative investment funds: There was an interesting consultatio

More Exclusives

• 30. Mar. | Opalesque Roundup: Hedge funds enjoy $15bn inflows of investor capital in February: hedge fund news, week 13 [more]

  In the week ending March 27th 2020, the eVestment Hedge Fund Asset Flows Report said that investors were bullish on hedge funds in February, allocating another $14.78 bi

• 27. Mar. | Opalesque Exclusive: Hedge funds see increased margin calls, liquidity pressure as markets react to coronavirus [more]

  Bailey McCann, Opalesque New York: The coronavirus crash has been steep and we may not be done yet according to new data. Treasury management company Hazeltree released a new research note today suggesting that hedge fund managers should prepare for increased margin calls alongside continued liqu

• 25. Mar. | José María Loizaga Viguri the father of Spanish private equity industry dies from Coronavirus [more]

  Bailey McCann, Opalesque New York: José María Loizaga Viguri, who is credited with the establishing private equity in Spain has died from complications relating to Coronavirus, he was 84. At the time of his death, Loizaga was a vice president at Spanish construction giant ACS Group. Loizaga h

• 23. Mar. | Opalesque Roundup: Hedge funds down about 2% in February: hedge fund news, week 12 [more]

  In the week ending March 20th 2020, a report by Preqin revealed that the Preqin All-Strategies Hedge Funds benchmark suffered significant losses (-2.21%) in February, compared

• 20. Mar. | Opalesque Exclusive: Carbon Cap launches World Carbon Fund [more]

  Bailey McCann, Opalesque New York for New Managers: Carbon Cap Management, a London based environmental asset management firm has launched the World Carbon Fund. The fund invests in multiple liquid and regulated car

• 18. Mar. | Opalesque Exclusive: New York hedge fund says it is "simply not exposed" to mainstream markets [more]

  B. G., Opalesque Geneva: By avoiding popular hedge fund strategies, a New York-based fund manager has so far avoided the widely experienced losses. Morgan Stanley analysts estimated that hedge funds across all strategies were down an average of 7.6% YTD versus a decline in the MSCI AC World

• 17. Mar. | Opalesque Exclusive: Canopius acquires Multi-Strat Holdings [more]

  Bailey McCann, Opalesque New York: London-based global specialty reinsurer Canopius has acquired Bermuda-based Multi-Strat Holdings Ltd. Multi-Strat Holdings is a specialty reinsurer focused on casualty reinsurance and casualty reinsurance linked security (ILS) transactions. Financial terms were

• 16. Mar. | Opalesque Roundup: Hedge funds record strongest relative outperformance February since 2009: hedge fund news, week 11 [more]

  In the week ending March 13th 2020, Eurekahedge said that hedge funds had the strongest outperformance compared with broad financial markets since 2009 last month as the coronavirus outbreak began to infect markets. The Eurekahedge Hedge Fund Index was down 1.63% in February, outperforming the

• 13. Mar. | Opalesque Exclusive: Healthcare private equity posts highest ever deal value in 2019 [more]

  Bailey McCann, Opalesque New York: Healthcare private equity had a robust 2019. Total disclosed deal value reached $78.9 billion, the highest on record, and the deal count of 313 was in line with the 316 deals of 2018, according to new data from Bain and Company. Healthcare private equity als

• 13. Mar. | Opalesque Webinar: So, when should you exit a manager? [more]

  B. G., Opalesque Geneva for New Managers: BlackRock Multi-Sector Income Trust recently fired one of its fund managers for conflict-of-interest after that manager loaned $75m to an indie film studio that cast his dau

• 11. Mar. | Opalesque Exclusive: Fund managers join central bankers in call for fiscal response to virus woes [more]

  Bailey McCann, Opalesque New York: Fund managers are joining central bankers in the push for a fiscal response to the economic uncertainty surrounding coronavirus. Markets rebounded slightly on Tuesday, after plunging on Monday's news that the virus had worsened in Italy and the US. Sect

• 10. Mar. | Opalesque Exclusive: Double Black Swans [more]

  Matthias Knab, Opalesque: A comment from Ian Hamilton, Chairman, Scotstone: The Corona Virus has put the world on hold with investors behaving like people fighting over toilet rolls. But was it unexpected? In 2007 Nassim Taleb, in his book "Black Swan" warned of such an event: "as

• 09. Mar. | Opalesque Roundup: Hedge funds navigate coronavirus storm: hedge fund news, week 10 [more]

  In the week ending March 6th 2020, a report from HFR said that Hedge funds investing in Emerging Markets and developed Asian regions began 2020 with a surge in realized asset volatility

• 03. Mar. | Opalesque TV: Commodity arbitrage as a sustainable trade [more]

  B. G., Opalesque Geneva: Arbitrage opportunities within the commodity space are enduring, according to Anant Jati, founder of Greenland Investment Management. Greenland is a technology-driven systematic investment manager that runs two funds, one

More Other Voices

• 30. Mar. 2020 | Other Voices: Management fee - you are always on my mind [more]

  By: Robert Seber, Vinson & Elkins This Q&A attempts to answer some questions that may be on the mind of private equity sponsors who are nervous about the reactions of their LPs to the current crisis. Can our LPs terminate our fund? You need to check your fund agreement. According to

• 19. Mar. 2020 | Other Voices: Taking a long-term investment view is the only way to navigate this period [more]

  By Mark Walker, managing partner at Tollymore Investment Partners, London: We can make no clear conclusions on how much further markets may decline. We do know that this panic will subside but don't know if it will accelerate before it subsides. Anyone claiming the ability to be able

• 19. Mar. 2020 | Other Voices: Seven ways the effects of the coronavirus will impact the hedge fund industry [more]

  By Donald A. Steinbrugge, founder and CEO, Agecroft Partners, LLC: The changing landscape caused by the Coronavirus will lead to the largest shake out in the hedge fund industry since the 2008 market crash. Below are some of the ways we believe the Coronavirus will impact the hedge fund ind

• 16. Mar. 2020 | Other voices: Boys and Men [more]

  From Christian Armbruester, Blu Family Office Why crashes are a wonderful way to discern good investment strategies from bad managers. Separating the proverbial "men from the boys" is a great exercise in times like these. When markets come under duress, is when you really find out who has

• 12. Mar. 2020 | Other voices: Brace! Brace! Brace! [more]

  By David Murrin. We have been tracking the progression of the impending market Collapse and the Wuhan Virus. We are now at the point of impact when the effects of the virus touch everyone and the reality of the global economic crunch also hits home. Hence the title above, taken from the words o

• 02. Mar. 2020 | Other voices: The impact of CFIUS on private equity and hedge fund investors [more]

  By: Abbe Dienstag, Richard Gilden Kramer Levin Naftalis & Frankel On Feb. 13, 2020, final regulations became effective updating and refining rules regarding transaction reviews by the Committee on Foreign Investments in the United States (CFIUS). These regulations, which until now have been in i

• 27. Feb. 2020 | Other Voices: Branding dominates hedge fund flows [more]

  Strong performance alone will not attract assets, says Donald A. Steinbrugge, founder and CEO of Agecroft Partners: Over the past decade, a vast majority of hedge fund net asset flows have gone to a small minority of hedge funds with the strongest brands. Evestment estimates that almost 60

• 27. Feb. 2020 | Other Voices: ESG "creating 90s-style tech bubble" as investors ignore fundamentals [more]

  By Graham Clapp, Manager of the RWC Continental European Equity Fund Share prices for ESG focused companies are soaring, as investors ignore fundamentals in the hope of finding the long-term winners which can tackle environmental problems - a move echoing the tech bubble of the late nineties

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GOLD FUTURES (@GC) – 60-minute

Currently: Long Looking to: Sell @ 1,791

As of 3/29/20 @ 7:26pm EST: 1,665.55

LAST WEEK: We suggested buying at last week’s levels with stops on a close below 1,460 and with a target of 1,791.

UPDATE: Gold futures are rallying Sunday night / Monday morning, but should have resistance at 1,676.55 in the very short-term. We could see a subsequent dip to either 1,588 or 1,570 and then another sizeable rally to 1,791 or so.

We would look to buy dips to 1,588 with stops honored on a close below 1,569 and with an upside target of 1,791. If you don’t want to ride out dips of $12, honor stops < 1,586. If stopped, try buying at 1,570.