By Nadia Papagiannis, Director of Alternative Investment Strategy at Goldman Sachs Asset Management, with editing by Hedge Fund Insight staff In a recent paper Goldman Sachs Asset Management analysed alternative mutual funds. In this analysis, we narrow down the vast universe of liquid alternatives to the funds that may better provide the differentiated return and risk characteristics of hedge funds. We […] Read more »
IAM Gets Less Defensive
By Morten Spenner, CEO of International Asset Management (IAM) Here are our forward-looking investment views looking into 2013. Market context – more constructive on the market environment Overall, we continue to observe a global economy which is recovering and with investor sentiment increasingly reflecting this. The most noteworthy recent developments have been the effective […] Read more »
Most Frequently Shorted UK Shares
By Simon Kerr The FSA has been gathering information on the short positions held by investors for some time – it has been part of the Hedge Fund Survey for several years. During the Credit Crunch a disclosure regime for significant net short positions in the stocks of UK financial sector companies was introduced, and […] Read more »
Quotation of the Day
“We are slightly underweight in the developed markets today, as we are waiting for Europe to play out before we really allocate more capital there.” Matthew Denning, Senior Research Analyst (Equity Long/Short), PineBridge Investments, quoted in Opalesque New York 2012 Roundtable. Read more »
SEB Bias Towards RV and Macro In Outlook For Hedge Funds
Victor de Oliveira, Portfolio Manager and Head of Investment Strategy, SEB Luxemburg The strong start to the year came to an end in the second quarter. The fading effects of the European Central Bank’s Long Term Refinancing Operation (LTRO, three-year loans at 1 per cent interest) reduced risk appetite, while increasing volatility made the market […] Read more »
Specialist Manager Series – Selecting Oil Stocks with RoundRock Capital
Selecting Oil Stocks: “Hedge Fund Insight” will feature a series of articles to share the expertise of specialist equity managers. The first explores the approach taken by RoundRock Capital Partners, LP which specialises in oil and gas shares in the hedge fund format. Introduction Since 2001 RoundRock Capital Partners, LP (“RoundRock”) of Dallas, TX […] 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 »
Hedge Fund Returns Are Path Dependent – As 2011 Illustrates
One of the things that is attempted on this website is to look at market action to help explain, or comprehend hedge fund returns. For example, two years ago a commentary was distributed on the significance of the quality factor in explaining returns in 2009 (see this article), and the impact of high correlation this […] Read more »