July was a choppy month for equity markets and risk assets in general. The MSCI World index ended the month up 1.3%, but during the month the index reversed and changed direction on four occasions moving down or up more than 3% each time. Credit markets showed similar volatility but posted gains by month end. […] Read more »
Gross Staff Turnover Is Not The Issue at Citadel
By Simon Kerr Citadel LLC, the $11bn AUM Chicago-based hedge fund group, has produced some great returns for investors over the long term. In the last calendar year, the two main multi-strategy funds, Kensington Global Strategies and Wellington Fund, both racked up gains of more than 20%. But Citadel has another reputation, aside from very […] Read more »
Event Driven Is A Strategy For Today’s Erratic Markets
By Bryan Goh In these treacherous times the degree of macro risk in markets is substantial and it is tempting to try to capture these opportunities. The confident macro trader will certainly argue for the opportunity while the fundamental investor may be confounded by factors beyond their considerations. One of the more controlled ways of […] Read more »
Small and Mid-Cap Equity HF Managers Receive Heavy Flows
Based on an article and data from hedgetracker.com The Top 50 Small-Cap and Mid-Cap (SMID) focused hedge funds have seen their equity assets jump by nearly $7 billion, or 18.8%, since the beginning of the 2012. According to the most recent ranking, the top SMID Hedge Funds now oversee more than $37 billion in U.S. […] Read more »
CTA Resilience in May Reflected in Lyxor HF Indices
The Lyxor Hedge Fund Index is in positive territory at the end of May in spite of a slightly negative performance of -0.55% during that month (+0.96% in 2012). 5 Lyxor Strategy Indices out of 14 ended the month in positive territory, led by Lyxor CTA Short Term (+5.35%), Lyxor CTA Long Term (+2.21%) and […] Read more »
GAM Comment On Last Month For Hedge Funds
Hedge funds posted negative returns in May with the HFRX Global Hedge Fund index closing down 1.7%. Funds protected capital as risk markets sold off steeply. The S&P 500 index ended the month down 6.0%, the MSCI World (in USD) fell 8.5%, the euro (in USD) lost 6.6% and the DJ UBS Commodity index was […] Read more »
Early View of Last Month from FRM
Fund of funds manager Financial Risk Management (FRM) produces a monthly “Early View” reviewing the hedge fund and market themes and sector performance for the previous month. The highlights for April 2012 were: “We had been concerned that the hedge funds with low market beta were too slow to rebuild risk through the first three months […] Read more »
Man Group Quarterly Figures – Still Minor Outflows
Man Group Plc announced first quarter 2012 figures today. 31 March 2012 FUM of $59.0bn which represents a 1.0% increase quarter on quarter: 31 Dec 2011 AUM: $58.4bn (as previously reported) Net outflows: $1.0bn Investment movement: $2.0bn FX & other: -$0.4bn 31 March 2012 FUM by product line: Guaranteed: $9.1bn Open-ended alternative: $25.0bn Institutional FOF: […] Read more »
Hedge Fund Industry Assets Recover to Last Summer’s High
Highlights from HFR Global Hedge Fund Industry Report 1Q 2012 Total capital invested in the global hedge fund industry increased to $2.13 trillion, surpassing the previous record of $2.04 trillion set at mid-year 2011. Investor preferences for fixed income-based Relative Value and less correlated Macro strategies, which have been favoured for over two years, accelerated […] Read more »
Oaktree Capital Sets Out To Seize Control in Europe
Howard Marks of Oaktree Capital Management There are a number of managers of distressed assets who are able to take a medium-to-long-term macro view about the viability of the opportunity set in front of them. Successful distressed investing is a cyclical phenomenon, such that there are better times than others to apply fresh capital to […] Read more »