Today's Exclusives

• Opalesque Roundtable: The Bahamas emerges as a pandemic safe jurisdiction for family offices [more]

  As ultra high net worth investors rethink travel-heavy business models in the wake of covid, the Bahamas has become a popular base of operations, according to participants in the recent Opalesque Bahamas Roundtable. More investment firms and funds are choosing to domicile in the Bahamas as recent up

• North American private equity real estate market sees a sharp fall, says Preqin [more]

  Laxman Pai, Opalesque Asia: North America-focused commercial private equity real estate (PERE) funds raised just $23bn through 47 closures in H1 2020, a sharp fall from 152 funds that secured $83bn in 2019 as a whole. "The COVID-19 pandemic has hit the North American commercial real estate mar

• Hedge funds surge in July [more]

  Opalesque Industry Update - Hedge funds surged in July to begin 2H20, with the HFRI Fund Weighted Composite Index (FWC) posting the 2nd highest monthly gain since January 2019 and the 3rd strongest gain since 2010. The HFRI FWC climbed +3.2 percent for the month, topping the gain of the DJIA, as

Today's Other Voices

• Other Voices: Will COVID-19 ignite private equity's dry powder? [more]

  By: Bryan Haynes, Ian Michael, Byron Tse The COVID-19 pandemic has pushed global financial markets into a prolonged period of volatility and uncertainty (see our article on the impact of COVID-19 on M&A deal flow), reminiscent of the 2007-08 financial crisis. Many businesses have languished sinc

More Exclusives

• 03. Aug. | Opalesque Roundup: Hedge fund launches fall again with just 59 funds in Q2 2020: hedge fund news, week 31 [more]

  In the week ending July 31st 2020, a report by Preqin said that only 59 new hedge funds were launched in the second quarter, down from 182 in the first quarter of the year and 228 in the second q

• 31. Jul. | Opalesque Exclusive: FACT Capital navigates a wild first year by focusing on specialization [more]

  Bailey McCann, Opalesque New York for New Managers: FACT Capital, a new long/short hedge fund with an all woman investment team is trying to change the industry. FACT stands for fairness, alignment, compounding, and

• 30. Jul. | Opalesque Exclusive: Bellecapital's Eiger Fund outperforms during a trying first year [more]

  Bailey McCann, Opalesque New York for New Managers: A new fund is capitalizing on the opportunities in European small-cap and mid-cap equities. Zurich-based Bellecapital's Belle Core Europe Eiger Fund is coming

• 29. Jul. | Opalesque Exclusive: Investors rethink hedge fund allocations [more]

  Bailey McCann, Opalesque New York: A new report from bfinance suggests that asset owners are maintaining a cautiously optimistic investment outlook despite uncertainty over the state of the global economy in the covid era. Bfinance spoke to 368 senior investors for the report. They represent pens

• 27. Jul. | Opalesque Roundup: Hedge fund redemptions decelerate as survey indicates come back of investors: hedge fund news, week 30 [more]

  In the week ending July 24th 2020, a report by BarclayHedge revealed that hedge fund redemptions continued to decline from their COVID-19 pandemic-fueled peak of $85.6 billion in March. Ne

• 24. Jul. | Opalesque Exclusive: SEC focuses on pandemic related fraud [more]

  Bailey McCann, Opalesque New York: The global pandemic has had a significant impact on the world economy and it's also impacting securities enforcement. According to the latest Securities Enforcement Update from law firm Gibson Dunn, the SEC is refocusing its supervisory priorities toward are

• 23. Jul. | Opalesque Exclusive: Private equity turns to the secondaries market as holding periods lengthen [more]

  Bailey McCann, Opalesque New York: The opportunity set for private equity is changing as a result of the pandemic, according to a new paper from 50 South Capital. Preferred equity deals are likely to become a popular alternative to outright asset sales for LPs with high-quality portfolios. GP-led

• 20. Jul. | Opalesque Roundup: US dominates both investors and managers involved with hedge funds: hedge fund news, week 29 [more]

  In the week ending July 17th 2020, reports said the United States accounts for three-quarters of Assets Under Management (AUM) across the globe in the hedge fund industry, said a study. Despite hedge fund

• 15. Jul. | The Corona Fighters Report 57: Asset managers who delivered in the downturn [more]

  B. G., Opalesque Geneva: This is our regular report on hedge funds and alternative asset managers who are successfully protecting assets and outperforming the markets during the first months of 2020. Based in the U.S. Virgin Islands, with offices in Houston, Skylar Capital Managemen

• 14. Jul. | The Corona Fighters Report 56: Asset managers who delivered in the downturn [more]

  Matthias Knab, Opalesque for New Managers: Bovell Global Macro Fund up over 100% past 12 months This is our regular report on hedge funds and alternative asset managers who are successfully protecting ass

• 13. Jul. | The Corona Fighters Report 55: Asset managers who delivered in the downturn [more]

  Bailey McCann, Opalesque New York: This is our regular report on hedge funds and alternative asset managers who are successfully protecting assets and outperforming the markets during the first months of 2020. Biomedical companies continue to outperform Vista Point Capital's fl

• 13. Jul. | Opalesque Roundup: Hedge funds gain in June, conclude a volatile H1: hedge fund news, week 28 [more]

  In the week ending July 10th 2020, Hedge Fund Research Inc said that hedge funds advanced in June for the third consecutive month, concluding a volatile 1H20 defined by a steep 1Q global

• 09. Jul. | Opalesque Exclusive: The Corona Fighters Report 54: Asset managers who delivered in the downturn [more]

  Bailey McCann, Opalesque New York: This is our regular report on hedge funds and alternative asset managers who are successfully protecting assets and outperforming the markets during the first months of 2020. An options strategy pays off In 2019, Quadratic Capital Management launc

• 08. Jul. | Opalesque Exclusive: The Corona Fighters Report 53: Asset managers who delivered in the downturn [more]

  Bailey McCann, Opalesque New York: This is our regular report on hedge funds and alternative asset managers who are successfully protecting assets and outperforming the markets during the first months of 2020. 2020 has been a good year for short-term CTAs. Société Générale's Short-Ter

More Other Voices

• 22. Jul. 2020 | Other Voices: Three things to know about the FTC's scrutiny of private equity roll-ups [more]

  By: Michael Dashefsky, R. Dale Grimes, Lucas Ross Smith - Bass, Berry & Sims In a statement to Congress last week, Commissioner Rohit Chopra of the Federal Trade Commission (FTC) advocated for increased antitrust enforcement against private equity-backed "roll-up" acquisition strategies, especia

• 17. Jul. 2020 | Other Voices: SEC greenlights investment fund delivered in security tokens [more]

  By: Deric Behar, Stephen Wink, Latham & Watkins On July 6, 2020, asset management firm Arca announced that the US Securities and Exchange Commission (SEC) granted it approval under the Investment Company Act of 1940 to issue shares of a closed-end US Treasury fund in the form of digital securiti

• 02. Jul. 2020 | Other Voices: A new golden age for hedge funds [more]

  Dixon Boardman, CEO & Founder, Optima Asset Management and Vice Chairman, Forbes Family Trust, is pounding the table urging investors to make room in their portfolios for alternative investments, because their ability to hedge can provide much needed downside protection and diversification durin

• 30. Jun. 2020 | Other Voices: SEC issues a risk alert for private fund managers [more]

  By: Susan Gault-Brown, Kelley A. Howes, Leonora Shalet, Stephanie Thomas; Morrison and Forrester On June 23, 2020, the SEC's Office of Compliance Inspections and Examinations published a Risk Alert identifying common deficiencies and compliance issues it has observed in examinations of registere

• 26. Jun. 2020 | Other Voices: A guide to 'recycling' options for fund managers [more]

  By: Edward Lee, Cameron Roper, Nick Rose, Proskauer The ongoing COVID-19 crisis is presenting fund managers with numerous challenges. One key challenge is to make sure that their portfolio companies have sufficient capital available to weather this particular storm. But how can fund managers ensu

• 19. Jun. 2020 | Other Voices: ESG and fund managers [more]

  By: Leonora Shalet, Morrison and Forrester A Subcommittee of the SEC Investor Advisory Committee has issued a recommendation relating to ESG disclosures for issuers, and this was a focus at the Asset Management Advisory Committee on May 27. Not only did they raise environmental, social and corpo

• 12. Jun. 2020 | Other Voices: ESMA takes aim at fund costs [more]

  Commentary from INDOS Financial The thorny issue of fund costs and charges has been hotly contested by EU regulators for a number of years now amid concerns that investors were being disadvantaged. This focus continues and in June 2020 the European Securities and Markets Authority (ESMA) publish

• 11. Jun. 2020 | Other Voices: Private fund investor defaults: consequences and practical solutions [more]

  Bailey McCann, Opalesque New York: By: Ted Craig, Jenna Lalji, Dentons Whilst the true, long-term impact of the worldwide coronavirus pandemic remains to be seen, the global financial markets have already experienced a huge wave of turbulence. The prospect of a significant effect on the close

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S&P FUTURES (@ES) – Daily

Currently: Cash Looking to: Short now

As of 7/31/20 @ 6:38am EST: 3,255

LAST WEEK: We suggested shorting at 3,224.75 with stops honored on a daily close above 3,239 and with a target of 3,132.75. We suggested longs down at 2,943.25.

UPDATE: S&P futures got another boost Thursday night / Friday morning after great earnings reports and forecasts by the NASDAQ technology leaders – AMZN, AAPL and FB.

That being noted, the rally in stocks is either at an end or close to nearing an end. We project key resistance for S&P futures to come in at either 3,284.50 or – on a breakout – up at 3,400 or so. Right now, we are willing to say resistance comes in between current levels (near 3,255) and 3,284.50 with a projected downside target / support at either 3,127.75 or 2,952.75. We would look to sell longs / get short at current levels with a downside target for covering and getting long at 3,127.75. Stops on longs should be honored on a close below 3,120 and the upside target for those longs will be 3,300.