By Simon Kerr I am grateful to the website market folly (www.marketfolly.com) for this input on Clarium Capital, the global macro fund manager. Peter Thiel, source:Bloomberg “Even more shocking perhaps is that the downward spiral at Peter Thiel’s hedge fund Clarium Capital has continued. ZeroHedge noted that Clarium lost 6.1% in the first three […] Read more »
Fund of Hedge Funds Consolidation: The gun has been fired
For just about all of the last decade it has been consistently suggested that the fund of hedge funds sector was just about to consolidate. Industry watchers suggested that the three different size categories had very different profiles – as potential acquirers and takeover targets. The medium-sized players were going to snap-up their smaller brethren. […] Read more »
The Shrinkage of Hedge Fund Seeding Capital
I have written in the past (http://simonkerrhfblog.blogspot.com/2009/11/gathering-assets-still-difficult-for.html , http://simonkerrhfblog.blogspot.com/2010/01/excess-supply-of-emerging-managers-to.html ) that my expectation is that emerging manager hedge funds will find raising capital difficult. Part of the reason for this view is the shrinkage of seeding capital providers. Infovest21 is the source for this overviewing of the status quo in hedge fund seeding: The size of […] Read more »
HF Counterparties: Collateral Arbitrage Benefitting Banks with Large OTC Books
Following up the posting on investment bank rehypothecation of their clients’ assets (http://simonkerrhfblog.blogspot.com/2010/01/rehypothecation-banks-and-hedge-funds.html), there is a great story today on Bloomberg. It highlights further changes in the balance of power in the relationships between hedge funds and the prime brokerage operations of investment banks. By Michael J. Moore and Christine Harper March 15 (Bloomberg) — […] Read more »
PODCAST FOUR – CTA Beach Horizon
A Discussion with Head of Research of Beach Horizon, Dr. Paul Netherwood. Dr. Netherwood spent four years in the Nineties in trading systems research and development at AHL (Adams, Harding and Lueck, now part of Man Group), and for the last 9 years he has been at Beach Capital Management and Beach Horizon LLP, a […] Read more »
LGT stays overweight macro traders
Thomas Weber, head of Hedge Fund Investment, LGT Capital Partners and lead portfolio manager of Castle Alternative Invest, commented on the fund’s performance of up 12.6% in 2009 (in NAV terms). Significant allocation to CTA/macro strategies provides diversification from equities and bond Move from systematic traders to global macro managers aided outperformance in 2008/09 Portfolio […] Read more »
Tosca Fund and Abaco Financials – Return Outcomes versus Portfolio Construction and Alpha Type
By Simon Kerr Preface The following discussion and analysis looks at two equity hedge funds that specialise in the financial sector. Naturally the sector was stressed as the nexus of the Credit Crunch, and the dislocations within the sector have created gross opportunities which have been taken advantage of by both the funds covered here. […] Read more »
Clarium Capital Management’s hedge fund is down 16.4 percent through November
By Simon Kerr Clarium Capital Managment’s hedge fund is down 16.4 percent through November, according to performance data reviewed by The New York Post. Read more: http://www.nypost.com/p/news/business/thiel_facing_big_loss_5uBnDnncMbzrf1yL6cFbOI#ixzz0Z0qkeUPX Read more »
Podcast 2- A Discussion with UK Equity Portfolio Manager Nick Shenton at Polar Capital
> Click on the links to download or play the sound files (embedded player available). Part 1 (7 minutes 51 seconds) 0.30 Joining Phil Hardy at Polar Capital 1.50 Idea generation 4.40 What Phil Hardy brings to the process of stock selection 5.15 Harder to find shorts now 6.30 Shorts can work faster than longs […] Read more »
Risk Management in Hedge Funds –The Role of the Risk Manager
By Simon Kerr, Principal of Enhance Consulting The extract below is taken from an article by Michael Langton, Head of Sales at Quality Risk Management & Operations (QRMO) Limited, that makes some interesting points. It was first published in IPAsia in January 2009. For the full article go to IP Asia or EurekaHedge. Only […] Read more »