Texas Employees rehires Albourne as hedge fund consultant
5mos ago

Texas Employees Retirement System, Austin, rehired Albourne as hedge fund consultant, a webcast of the pension fund's board meeting Wednesday showed. The $28.7 billion pension fund issued an RFP in ...

Industry Headlines:

Perhaps, like the apparently mythical figure of the investor who’s sure, in spite of all available evidence and history and the apparent will of an angry God, that Wells Fargo has turned a corner and is ready to start printing money for shareholders, there really was a bank out there somewhere in ...


In a year where active management struggled, Bill Miller's hedge fund returned 120% in 2019, Bloomberg reported Thursday. Miller's hedge fund le...


5 of the Top Hedge Funds in 2020U.S. News & World Report


The market for health care company public offerings is ready to take off again.


The retail industry is claiming more famous names every year


Hedge fund billionaire Seth Klarman defended value investing even though the strategy has struggled recently.


Hedge fund net outflows in 2019 were nearly $98 billion, according to a Thursday report from eVestment. It marked the worst year for hedge fund ...


23rd Jan 2020 - 4:57pm Skytra selects Nasdaq to provide technology for new venue for air travel price derivatives Submitted 23/01/2020 - 4:57pm - Airbus’ wholly owned subsidiary Skytra has selected Nasdaq to provide the core technology for its derivatives trading venue. - Headquartered in London, Skytra was recently established to help the USD1 trillion per annum air travel industry hedge its revenue risk through the trading of cash-settled futures and options contracts based on a series of Skytra Price Indices. This is the first time that the industry will have financial risk management instruments available to them specifically to address revenue volatility. - The air travel industry makes long-term financial commitments, but is challenged by short-term revenue visibility, where up to 90 per cent of the tickets are booked within 90 days before take-off. Skytra's index futures and options will improve airlines' ability to manage their revenue risk in order to support their long-term financial planning. The Skytra indices have been developed over a period of two years in close collaboration with the air travel industry. - - As part of the agreement, Nasdaq will deliver a full suite of marketplace systems, including the core matching engine, the regulatory reporting required under MiFID II, and the market surveillance and pre-trade risk management solutions required to safeguard the integrity of the trading venue. The systems will be hosted in Nasdaq’s data centres and the public cloud. Nasdaq will provide a fully managed service, including technical operations of all software and infrastructure. - - Adena Friedman, President and CEO, Nasdaq, says: “The creation of Skytra by Airbus represents a dynamically new intersection between aviation and financial marketplaces, where the benefits will extend to companies in both ecosystems and the broader markets economy. By integrating our market technology, Skytra will have the scalability and flexibility to continuously improve the trading experience to the benefit of both the global airline industry and financial market participants.” - - Mark Howarth, CEO, Skytra, says: “We chose to work with Nasdaq because of its impressive track record in delivering best-in-class infrastructure, technology, and innovation for markets across the globe. Its modular architecture means we will be positioned for growth as the Skytra platform builds traction with the airline industry and as we cater to the wider needs of other market participants.” - - Christian Scherer, Chief Commercial Officer, Airbus, says:“Skytra has been created in collaboration with the air travel industry and players outside it to enable more financial predictability in a volatile market. We are delighted that Nasdaq, a leader in financial market infrastructure, will be providing the core technology needed to deliver the solution the air travel industry needs.” - - Skytra is in the process of applying to the UK’s Financial Conduct Authority for approval to operate a Multilateral Trading Facility (MTF) and to be registered as a Benchmark Administrator. Tags Trading & Execution Technology & software solutions


23rd Jan 2020 - 4:51pm SS&C GlobeOp Forward Redemption Indicator at 2.26 per cent in January Submitted 23/01/2020 - 4:51pm - The SS&C GlobeOp Forward Redemption Indicatorfor January 2020 measured 2.26 per cent,downfrom 4.95 per cent in December. - "SS&C GlobeOp's Forward Redemption Indicator for January 2020 was 2.26 per cent, a favourable reading compared to the 2.70 per cent reported a year ago, as well as compared to historical averages," says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "Redemptions have remained fairly steady in recent years at generally low levels, and it is too early to tell if this reading represents the start of a new trend, but 2020 is certainly off to a good start." - The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the SS&C GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients on the SS&C GlobeOp platform. Forward redemptions as a percentage of SS&C GlobeOp's assets under administration on the SS&C GlobeOp platform have trended significantly lower since reaching a high of 19.27 per cent in November 2008. The next publication date is 24 February, 2020. Tags Results & performance Funds


23rd Jan 2020 - 4:45pm Majedie Asset Management launches ‘Next Generation Investor’ competition Submitted 23/01/2020 - 4:45pm - Majedie Asset Management (Majedie), a specialist active equity investor, has revealed the four teams which will be competing to win the title of ‘Next Generation Investor 2020’. - This investment competition is aimed at female undergraduates to encourage them to consider asset management as an attractive career choice. Each team has been given a notional GBP25,000 to invest in listed equities and can trade as they wish until 30 June. - Majedie will provide the competing teams with in-depth training on stock selection, portfolio construction, financial modelling, ESG integration and mentoring by its award-winning fund managers throughout the period. The notional profits earned during the competition by each team will be matched in real money by Majedie and donated to the respective UK registered charity of their choice. The team with the best investment performance over the period will also receive an additional GBP5,000 donation to be made to their chosen UK registered charity. Majedie devised this university outreach programme as a way to address the industry-wide challenge of raising awareness and encouraging undergraduate women to see the investment world as an entirely natural career habitat for them. Competition details were submitted to 68 universities in early October. Rhiannon Collis, Majedie’s Head of Clients, says: “We have had a strong response from students for this, our first competition, proving that there is a real demand among women to learn about the financial sector. We are committed to playing our part to encourage and nurture this interest, lowering barriers to raise the industry bar. We wish the four teams all the best in the competition and hope they enjoy what will be a fascinating and challenging six months for them.” Tags Trading & Execution


A couple of years after Ken Griffin dropped $200 million on a New York apartment, the aged T. Boone Pickens realized it was time to part with his beloved ranch in the Texas Panhandle. Given that he really didn’t want to, and given that the Citadel chief had just dropped so much on 24,000 square ...


Bill Miller’s Hedge Fund Rose 120% in 2019 After Fast FinishBloomberg


Once upon a time, a man named Bernie Madoff humiliated the Securities and Exchange Commission, running a decades-long, $65 billion Ponzi scheme quite literally under the agency’s nose, fooling its investigators with bogus documents fresh off the printing and chilled to apparently-aged perfection in ...


Terrance O’Malley knows a thing or two about the business of managing hedge funds. He says the middle and back office are too often overlooked by managers and investors alike.


Stockholm (HedgeNordic) – In 2019, Nordic hedge funds had their best year in the past five years after the industry endured the second-worst year on record in 2018. The Nordic Hedge Index, which currently includes 160 funds, gained 5.3 percent last year, reflecting the aggregate performance of both up-and-running hedge funds and already-defunct funds. The [...] - The Best Performers of 2019 on HedgeNordic.


Donald Trump and Elon Musk would not seem to have a great deal in common. Musk is, after all, a self-made immigrant who believes in climate change and is trying to wean the U.S. and world off of the fossil fuels that are quite literally at the heart of Trump’s politics and policy. But for all that, ...


The group's top donor has a history of backing Republicans.


HIGH AF Elon and Grimes' new bundle of joy is going to be hella rich. Tesla's stock continued its run yesterday, gaining over 8% and hitting $594.50. The price increase resulted in the company's market value topping $100B for the first time, surpassing Volkswagen as the number two automaker by ...


Quant funds—those run by computer algorithms analyzing large sets of data—were among the biggest losers in a year when stocks hit record highs.


Nearly three-quarters of asset managers polled by Cerulli Associates in 2019 indicate that they exercise active ownership as part of their investment decision-making process to minimise risks and maximise returns, up from 54 per cent in 2017.


23rd Jan 2020 - 10:21am Style Analytics expands ESG offering with Carbon Risk Ratings from Sustainalytics Submitted 23/01/2020 - 10:21am - - Style Analytics, a provider of factor-based portfolio and market analytical tools for investment professionals, is expanding its ESG factor analysis tool with the launch of Carbon Risk Ratings and emission data from Sustainalytics, a leading global provider of ESG research, ratings and data. - With the Carbon Risk Ratings and emission data, clients can analyse their portfolios’ exposure to carbon production, implement low-carbon mandates and manage carbon-related risks. - Asset managers and asset owners increasingly recognise the benefits of measuring, monitoring and reporting on their portfolio’s carbon footprint using metrics recommended by the Global Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD). Leveraging Sustainalytics’ Carbon Risk Ratings and emissions data, investors can better understand the carbon risk in their portfolios. The Carbon Risk Ratings and emissions data is available alongside Style Analytics’ ESG and factor Style Skyline, providing one fully integrated platform for portfolio ESG, carbon and factor analysis. - As signatories to the UN’s Principles for Responsible Investment (PRI), both Style Analytics and Sustainalytics are committed to providing investors with cutting-edge tools to assess their ESG and carbon–related risks. - Sebastien Roussotte, CEO of Style Analytics, says: “Today’s investment environment requires sophisticated yet easy-to-use analysis of the potential climate–related risks of every portfolio. Our collaboration with Sustainalytics allows us to provide our clients with the tools they need to comply with ESG and carbon standards as part of our factor–based Style Skyline.” - Bob Mann, President and Chief Operating Office of Sustainalytics, says: “We are pleased to expand our relationship with Style Analytics by incorporating our Carbon Risk Ratings and Data into their suite of products. The addition of these new products will enable our joint clients to measure and report on the carbon risk in their portfolios and fulfil environmental guidelines.” - Style Analytics’ products and services are designed to help institutional investors and investment managers determine which factor exposures impact portfolio risk and performance, including ESG. By using the unique Style Skyline, industry professionals can better analyse markets, peers and portfolios. Tags ESG & Responsible Investing Services Research & Analytics


23rd Jan 2020 - 9:26am Kneip appoints new Chairman of the Board Submitted 23/01/2020 - 9:26am - Fund data management platform Kneip has named Hugues Delcourt as Chairman of the Board whilst founder and previous Chairman, Bob Kneip, moves into the role of Vice-Chairman. - Delcourt brings with him a wealth of experience, with 30 years in the banking industry accrued in Europe and Asia, working for global institutions, including Indosuez, ABN AMBRO and UBS. Most recently, Delcourt was the Group CEO of Banque Internationale à Luxembourg, a position he held for five years. - In his new role as Chairman of the Board, Delcourt will offer guidance and support to the executive leadership team, headed up by CEO Neil Ward. Delcourt will help the company to continue to navigate industry challenges as the team expands its offering in markets across EMEA and APAC whilst ensuring Kneip’s continued recognition as the leader in fund data management. After successfully establishing and then leading the business for 26 years, Bob Kneip has decided to take a step back as the industry continues to evolve and pass the baton. He will continue to be Kneip’s main shareholder and be fully invested in the wellbeing of the company and its employees. Bob’s new role will allow him to spend more time focusing on his passion for the arts and charities, as well as selected independent board memberships. Delcourt says: “I am absolutely delighted to be joining Kneip. This is an exciting opportunity that fits perfectly with the vision I had of my next undertaking. I look forward to working with the board, Neil, the management team and everyone at Kneip as well as, of course, the shareholders to make the company even greater for the benefit of its clients and employees.” Bob Kneip says: “To disrupt, you have to disrupt yourself. I am very pleased that Hugues accepted my invitation to become the new Chairman of Kneip. Over the years, I have learned to appreciate his independence of thought, human values, rigour in execution, vision of the financial sector as well as his global experience and network. Hugues shares our vision to build the fund data management institution of the future. Together with Neil and a supportive and strong leadership team, he will contribute to reinforce our global leadership in the investment fund industry." Ward, says: “Transforming Kneip to become a world class digital fund data management company has been our goal. Two years of radical change now leaves us on the edge of a significant opportunity to service clients more efficiently and with agility. “Hugues arrival as Chairman is welcome, timely and pivotal to our ability to scale the business towards global status, building on Kneip’s long heritage to date. Clients, Kneipiens and shareholders should be very reassured that Kneip has secured such a high-profile successor to our benefactor Bob Kneip. Welcome Hugues” Tags Funds Moves & Appointments Services Research & Analytics


23rd Jan 2020 - 9:24am Fund Recs to provide SANNE with tailored reconciliation automation services Submitted 23/01/2020 - 9:24am - Fund Recs is to provide SANNE, a global provider of alternative asset and corporate services, with tailored reconciliation automation services through its Velocity fund administration software. - Fund Recs, an established fund industry software provider, will work with SANNE to automate the data processing and reconciliation process in its fund administration business. Delivered as a Software-as-a-Service, Velocity, will help SANNE achieve its goal of Straight-Through-Reconciliations. - Fund Recs Chief Executive Officer, Alan Meaney, says: “Through our engagement with SANNE we’ve delivered a strong relationship and are excited to be working with a group that has such a focus on providing high quality client service. Software only provides leverage to great people and we look forward to supporting SANNE as they continue to innovate for the benefit of their global client base.” Philip Dempsey, Country Head – Ireland at SANNE, says: “We are delighted to be partnering with Fund Recs. We fully embrace technology and innovation at SANNE and we constantly look for ways to evolve our service offering that ultimately adds value to clients. The team at Fund Recs are well regarded in the funds industry as innovation enablers and we believe that partnering with the best providers in the industry will greatly advance our current service offering.” Tags Services Fund administration Technology & software solutions


23rd Jan 2020 - 9:23am Neuberger Berman opens Stockholm office Submitted 23/01/2020 - 9:23am - Neuberger Berman, a private, independent, employee-owned investment manager, has opened its first Nordic office in Stockholm, Sweden. - Neuberger Berman has operated across the Nordics since 2004 and will now deepen this commitment by opening a dedicated office to provide on-the-ground client support. Emelie Albeck, relationship manager for the Nordics, has relocated to Stockholm from London. - Dik van Lomwel, head of EMEA and Latin America, says: “Opening an office in Stockholm, our tenth in Europe, reaffirms our long-term commitment to the Nordic market. Providing local support and expertise is central to nurturing close client relationships. - “Over the years, we are fortunate to have worked with many institutional and intermediary investors in the Nordics and are proud of the progress we have made. Adding this office is a natural evolution, reflecting the growth of our business in the region. Under Mark Østergaard’s leadership, we have a strong team in place to engage with current and future clients and to develop our relationships even further.” - Neuberger Berman’s office in Stockholm opened 2 January 2020 and is located at Jakobsbergsgatan 16. Tags Moves & Appointments


23rd Jan 2020 - 9:20am Drawbridge Partners appoints VP of Business Development Submitted 23/01/2020 - 9:20am - Drawbridge Partners, a cybersecurity software and services firm specialising in the needs of hedge fund and private equity managers, has appointed an Lyons as Vice President of Business Development. - Lyons will be responsible for driving growth for Drawbridge’s award-winning software and services. - Lyons brings over 17 years of business development expertise in the Alternative Investment space to his role at Drawbridge, with a specific focus on technology and security. Most recently, Lyons served as Director of Sales for Apex Services Ltd, which provides technology solutions to asset managers, capital markets firms and private clients. Prior to that, he had a ten-year tenure at Eze Castle Integration, as Director of Business Development and previously as Senior Sales Consultant. Lyons began his career as a Senior Broker for Chittenden Insurance. “In today’s increasingly demanding market, our priority has always been providing our clients with superior, dynamic service alongside deep technical expertise to help them exceed investor and regulatory requirements,” says Nathan Ford, Partner. “Dan’s technology and security expertise coupled with his proven reputation for excellence in client service make him an invaluable addition to the Drawbridge team. I’ve had the privilege to previously work with Dan for almost a decade and am ecstatic to bring such a trusted industry veteran on board as resource for our clients and a sales leader to support our growing business needs.” “Drawbridge’s impressive growth and business expansion are invigorating and a reflection on the quality of software and services they provide to the hedge fund and private equity communities,” said Lyons. “I am thrilled to join this team of experts that has quickly demonstrated the ability to deliver cutting-edge and critical cybersecurity offerings to this complex industry, and I look forward to helping accelerate this growth.” Lyons will be based on the East Coast and report to Nathan Ford. His appointment marks the latest addition to Drawbridge’s established executive team, following the 2019 additions of Nathan Ford as Partner and Viktor Tadijanovic as Chief Technology Officer. Tags Cybersecurity Moves & Appointments Technology & software solutions


Investors redeemed an estimated $16.21 billion from hedge funds in December bringing 2019 full year outflows to almost $100 billion. Despite redemptions, total asset levels for the year rose just over 4% to $3.3 trillion as performance offset redemption


Professionals with aggressive strategies are not lacking in the hedge fund industry, but few are as tough as Chris Hohn. The British billionaire takes the typical manual to new levels - closing deals, pushing to dismiss bosses, and confronting companies w


Artificial intelligence and machine learning are poised to "eat the world" — but how, exactly, do they work together on Wall Street to make money for traders? NYU business professor, data scientist, and hedge fund manager Vasant Dhar sits down with fellow


In the world of hedge fund platforms, a 3 per cent loss can be terminal for a trader. But there is method to this risk madness.


Ending a monthslong battle over ownership of a bankrupt monopoly, Pacific Gas and Electric on Wednesday reached a settlement with a group of bondholders that had been pushing arival bankruptcy plan to take control of the company.


Elliott Management sold all its shares in Hyundai Motor Group companies last yea...


U.S.-China trade, Brexit and troubling economic news prompt redemptions in most regions.


The former chief executive of London Stock Exchange Group is resigning as boss of CQS, the hedge fund group, only 13 months after joining it. Xavier Rolet asked to stand down from the chief...


Promotions bring the Partnership to a total of 16


By: Anne-Marie Godfrey, Akin Gump Strauss Hauer Feld LLP In recent years, the Hong Kong Securities and Futures Commission (SFC) has increasingly focused on private equity funds' obligation to be licensed under the Securities and Futures Ordinance (SFO). In February 2019, the SFC's Licensing Handb... Article link


Laxman Pai, Opalesque Asia: Chicago-headquartered Wynnchurch Capital closed its fifth private equity fund, Wynnchurch Capital Partners V, reaching its hard cap of $2.3 billion in capital commitments. The Wynnchurch Capital Partners V was oversubscribed, exceeding its $1.6 billion target. Wynnchurch... Article link


Laxman Pai, Opalesque Asia: French asset manager Amundi has agreed to purchase 100% of Sabadell Asset Management, the asset management arm of Spanish lender Banco de Sabadell, for €430m ($476m). According to a joint press release from the companies, the sale, which is set to close in the th... Article link


Bailey McCann, Opalesque New York: Ardian has raised €3bn for its latest European middle market private debt fund. The vehicle beat its €2.5bn target and is a billion larger than its predecessor fund which closed in 2015. Ardian says the new fund will include senior debt opportun... Article link


GoldPoint Partners closes $678m Select Manager Fund Opalesque Industry Update - GoldPoint Partners announced the successful closing of its fourth fund-of-funds, GoldPoint Partners Select Manager Fund IV, L.P. The Fund closed on $678 million of commitments, a 150 percent increase from its predecesso... Article link


TCA credit hedge fund shuts amid SEC probe; Investors seek exit From Bloomberg: Florida-based investment firm TCA Fund Management Group Corp. is shutting its main credit hedge fund after the Securities and Exchange Commission probed its accounting and customers moved to withdraw their money. The T... Article link


From Institutional Investor: Skye Global Management founder Jamie Stern was deemed a Hedge Fund Rising Star by Institutional Investor in 2018. So far, he's lived up to that billing. The ex-Third Point portfolio manager's fund posted a 53.7 percent gain in 2019, making it once again one of the top-p... Article link


Ohio Public Employees sticks with Aksia as hedge fund consultant From PIonline.com: Ohio Public Employees Retirement System, Columbus, rehired Aksia as its hedge fund consultant, spokesman Michael Pramik said in an email. The $100.2 billion retirement system, which includes $87.8 billion in define... Article link


Traders betting against Tesla have lost $3.3bn less than a month into 2020. Many are still holding onto their short positions. From Business Insider: Tesla short-sellers are down $3.3 billion year-to-date as of Tuesday's close, according to data from financial-analytics firm S3 Partners. Those loss... Article link


Xavier Rolet steps down as chief of hedge fund CQS From Financial News: Xavier Rolet, the former head of the London Stock Exchange, is standing down as chief executive of Sir Michael Hintze's investment company CQS after little more than a year. CQS said in a statement that Rolet will remain with ... Article link


Billionaire hedge fund manager Ray Dalio warns investors to stay away from Bitcoin From Daily Hodl: Billionaire investor Ray Dalio, the founder of investment firm Bridgewater Associates, one of the world's largest hedge funds, is warning people to stay away from more speculative currencies like Bi... Article link


Global money managers are bullish on Asia Pacific real estate as they develop a keener appetite for risk, according to a new survey which finds that 77.5 percent of institutional investors plan to boost their allocation to the region's property assets in 2020. The joint survey by ANREV (Asian Assoc... Article link


U.S. regulators closing in on additional 'Volcker Rule' easing From Reuters: U.S. financial regulators are wrapping up work on a proposal that would ease restrictions around relationships banks can have with companies like hedge funds and private equity funds, according to a top bank regulator. A ... Article link


Private banks continue to back stocks despite risks From Nikkei: Equities still offer the best chance to make money in a low interest rate environment but private banks catering to the wealthy in Asia are increasingly recommending stock options and gold as a hedge against any sharp pullback. The a... Article link


Private equity firms are struggling to recruit and retain young talent From Institutional Investor: Private equity executives at firms of all sizes are trying to figure out how to better attract and retain younger staff, resorting to tactics such as offering free lunches and relaxing their dress co... Article link


Alts firms see rapid growth in management fees - Fitch From PIonline.com: Alternative investment firms rated by Fitch Ratings reported accelerated growth in management fees for the year ended Sept. 30, according to a report from the ratings agency. Management fees expanded 14.1% in the year ended S... Article link


Hedge fund giant Seth Klarman says the 'rocket fuel' feeding this rally will soon 'run out' From CNBC: Seth Klarman, who runs Baupost Group in Boston, wrote in a letter to investors that the "the rocket fuel that has propelled markets in 2019 will run out." He also noted about 31%... Article link


Eurozone outperforms North America in ESG investing, report finds From Funds Europe: The eurozone continues to outperform North America when it comes to environmental, social and governance (ESG) investing, according to a report.Research commissioned by Paris-based Amundi Asset Managment found that... Article link


Activist Investors and the Art of the Deal From WSJ: Disrupting deals has always been a preferred tactic of activist investors, but they are becoming even more partial to it. Last year, 60% of the cash spent by activist hedge funds globally went on merger and acquisition campaigns, according to La... Article link


Billionaire investor Ray Dalio, the founder of investment firm Bridgewater Associates, one of the world's largest hedge funds, is warning people to stay away from more speculative currencies like Bitcoin in 2020.


Rolet, who left the London Stock Exchange in 2017 following a boardroom bust-up, joined the fund set up by billionaire Sir Michael Hintze as chief executive in 2018.


Hedge Fund Outflows Neared $100 Billion in 2019, Most Since 2016Bloomberg


As we’ve discussed, 2019 was a “meh” year for hedge funds. Returns look pretty OK in isolation, but when compared with, say, an S&P 500 index fund, they look a good deal less OK. (Unless you are one of the very rare souls investing with a woman or person of color, in which case things look ...


As we’ve discussed, 2019 was a “meh” year for hedge funds. Returns look pretty OK in isolation, but when compared with, say, an S&P 500 index fund, they look a good deal less OK. (Unless you are one of the very rare souls investing with a woman or person of color, in which case things look ...


Founder loosens ties and partners exit in new reshuffle at activist hedge fund


Xavier Rolet is making the move after a year as CEO of the hedge fund firm.


2020 is a year, and therefore there is a good chance Argentina will default in it. History tells us there’s a 6% chance that it will happen in any given year, although over the last seven decades, it’s actually been more like 9%, or once every 11 years or so. And, you know, it’s been all of six ...


Florida-based investment firm TCA Fund Management Group Corp. is shutting its main credit hedge fund after the Securities and Exchange Commission probed its accounting and customers moved to withdraw their money.


Florida-based investment firm TCA Fund Management Group Corp. is shutting its main credit hedge fund after the Securities and Exchange Commission probed its accounting and customers moved to withdraw their money.


The founder of Skye Global now manages more than $1 billion.


Billionaire hedge fund manager Seth Klarman is warning this rally that has taken stocks to record highs could end pretty soon.


Amid buyouts, Morning Call employees fear notorious hedge fund's growing influence at TribunePhiladelphia Business Journal


Eight years ago, Two Sigma Investments began an experiment in early-stage investing. The hedge fund, focused on data-driven quantitative investing, was well on its way to amassing the $60 billion in assets under management that it currently holds, but wan


The state’s in the doldrums, and Harry Arora knows a thing or two about making deficits go away.


Take note, investors: An investment strategy filled with confusing language can be a sign of dishonesty.


A hedge-fund billionaire nicknamed the 'Oracle of Boston' for his similarities to Warren Buffett is hoarding cash and warning the bull run won't...


It’s not exactly Wagnerian justice, but it has a poetic ring.


Ohio Public Employees Retirement System, Columbus, rehired Aksia as its hedge fund consultant, spokesman Michael Pramik said in an email. The $100.2 billion retirement system, which includes $87.8 billion in defined benefit fund assets, issued an RFP i


For many hedge funds in Asia, 2019 was a good year — just not good enough to allow them to charge performance fees.


Boeing's negative airplane sales for the year might bring the chickens home to roost for its stunningly Enron-like accounting practices.



Stockholm (HedgeNordic) – PriorNilsson Idea has been named the “Hedge Fund of the Year” at the annual “Årets Fonder” event organized by fund platform Fondmarknaden.se. The “Årets Hedgefond 2019” award was one of the ten awards handed out at the annually-held event that recognizes the best funds among the 1,800 funds available on Fondmarknaden.se. “We [...] - Årets Hedgefond 2019 on HedgeNordic.


At first glance, things don’t look that bad for Netflix. But then, that’s kind of the point. It added nearly nine million subscribers in the fourth quarter—but missed its domestic forecast badly for the third straight one, as some big new competitors came online. It’s viewership numbers skyrocketed ...


Now entering its sixth year of operation, ProMeritum Investment Management –a London-based discretionary emerging markets fixed income-focused manager – has notched up five successive years of positive returns since launching in January 2015. With mor


Stockholm (HedgeNordic) – Swedish hedge fund house Brummer & Partners was founded almost 25 years ago and the journey is far from over. Brummer & Partners operates in “a survival of the fittest type of business,” says Mikael Spångberg (pictured), CEO of Brummer Multi-Strategy, in an interview at the World Economic Forum in Davos. “It [...] - A Message from Davos on HedgeNordic.


Elliott Management sold all its shares in Hyundai Motor Group companies last year after it was thwarted in its campaign for huge special dividends and board seats, South Korean media reported.


Matthew Feargrieve (pictured) had been attending a performance of the Ring Cycle by Wagner on 7 October 2018 in London. He punched Ulrich Engler for moving his partner's coat.


MARKET CONTAGION Move over ebola. The pandemic du jour has got the world shook. And markets are no exception. The first reports of a mysterious illness in China began last week. We now know what the deadly respiratory virus is. Meet coronavirus. The disease, which is eerily reminiscent of ...


Disrupting deals has always been a preferred tactic of activist investors, but they are becoming even more partial to it. Last year almost half of activist attacks involved a push for a new deal to happen or improved terms to an existing one


22nd Jan 2020 - 10:20am Refinitiv launches Future of Sustainable Data Alliance Submitted 22/01/2020 - 10:20am - Refinitiv has launched the Future of Sustainable Data Alliance (The Alliance) in conjunction with the World Economic Forum, United Nations, IIF, OMFIF, Tsinghua University, ASIFMA, GFMA, Climate Bonds Initiative, FinTech4good, Everledger, Institute of Public and Environmental Affairs, Bank of Africa-BCME, GoImpact and other founding member firms. - The objective of The Alliance is to accelerate the mobilisation of capital into sustainable finance. The Alliance will solve the question: What data do investors and governments need to meet the requirements of both regulators and customers for sustainable investments and products in pursuit of the 2030 Agenda. - The Alliance says: “Fundamental ESG data access and additional alternative data sets are seen as key drivers to help investors make sustainable investment decisions and positively contribute to the UN Sustainable Development Goals.” - Climate change and the UN Sustainable Development Goals (SDGs) continue to accelerate the drive towards sustainable finance, however information to quantify, measure and compare impact is in its infancy. Companies both public and private require disclosure standards on tracking, managing and reporting such information to their stakeholders. The lack of actionable data and standards results in capital markets that are unable to fully understand and integrate sustainability considerations, and as a result allocate capital to inefficient and sometimes environmentally or socially damaging activities, projects and assets. Fundamental ESG and alternative data are required to make sustainable investment decisions and to positively contribute to the UN SDGs. The Alliance aims to identify and consolidate the data required now and in the future. Tags ESG & Responsible Investing Services Research & Analytics


22nd Jan 2020 - 10:07am Digital Vega hires non-exec director and head of business development Submitted 22/01/2020 - 10:07am - Digital Vega, an FX Options e-trading platform and provider of FX Options trading solutions, has appointed Rob Wemyss as a Non Executive Director and Head of Business Development. - Wemyss joins Digital Vega from JP Morgan where he was Global Head of FX Options. He worked at JP Morgan for 25 years in a variety of roles. - "During 2020 we aim to cement our leading position in multi-dealer FX Options trading by adding more liquidity providers and clients, increasing automation in our Vanillas platform and launching a new Exotics service,” says Mark Suter, Executive Chairman and Co-Founder, Digital Vega. “We are delighted to welcome Rob to Digital Vega, where his unparalleled industry experience and senior level contacts with liquidity providers and clients will help to maximise our growth. - “Over the past 12 months Digital Vega has made several key hires. In addition to Rob joining, we have hired Simon Nursey as Head of Asia, Asa Attwell as Head of Product Development, Romain Camus as Head of Exotic Options, Laura Winkler as EMEA Relationship Manager, and Benny LewisasHead of Interdealer Solutions." - Wemyss says: "Transparency, automation and workflow efficiency are driving the market increasingly towards trading FX Options electronically. Digital Vega is already considered the market leader, and by investing in new products and services we expect to capture future market growth.” Tags Moves & Appointments Trading & Execution


22nd Jan 2020 - 9:54am Evallon Global Investment provides qualified investors with access to alternative platform Submitted 22/01/2020 - 9:54am - Evallon Global Investment, a New York and Hong Kong-based asset manager and alternative investment solutions provider, is making its alternative investment offering available for qualified investors from January 2020 onwards. - Initially reserved for institutional investors, Evallon's alternative platform is focused on a number of strategies ranging from secondary market transactions to private equity and to the delivery of hedge fund access. - Seeking alternative forms of investment for the diversification of portfolios is a rapidly growing trend amongst institutional investors as prevailing market conditions force capital into taking on excessive equity risk, in order to accommodate rising equity valuations throughout the major trading indices. On top of that, a number of political uncertainties continue to weigh heavily as the Brexit scenario and US-Chinese trade negotiations continue to be the focal point as to where markets will turn during the course of the year. - "The alternative investment sphere is not a particularly new investment phenomenon, however for the retail investor whose purchasing power is more limited than that at the institutional level, gaining access to alternative opportunities has proven to be difficult over the years. Our aim at Evallon is to make investing in alternatives as easy as investing in a mutual fund," says Carl Sayers, Director of Global Business, Evallon Global Investment. - The administration complexities of bringing alternatives to the retail market is also a cause of the slow rate of portfolio adoption particularly throughout the private investment sector. Since retail demand has risen drastically over the past several years, alternative providers and market regulators have worked to deliver solutions that are more appealing to the retail investment mindset. - "Access to alternatives for the retail investor has become more user friendly as regulatory transparencies have greatly improved and entry levels significantly reduced. Our own retail clients have over the past two years chosen to dedicate a portion of their portfolios to alternatives as they see the potential for improved outcomes as traditional equity/income strategies are simply failing to deliver on expectations as they once did." Tags Investments


Rational Funds has launched the Rational/Pier 88 Convertible Securities Fund (PBXIX), a converted hedge fund, which employs the same management team and investment strategy as its predecessor.


22nd Jan 2020 - 9:49am Kempen adds to alternatives solutions team Submitted 22/01/2020 - 9:49am - Kempen Capital Management (Kempen) has strengthened its alternative solutions team with the appointment of Anne Mei Poppe as alternative investment specialist. - Poppe, who has twelve years of experience in financial services, will focus on the growing demand from international institutional investors, wealth managers and family offices for alternative investment strategies. - Anne Mei joined from Dutch asset management and direct lending firm Dynamic Credit, where she shared responsibility for alternative fixed income sales and client management for the past three years. Prior to this, she worked as a senior financial services adviser at EY after starting her career at Heineken and BinckBank. - Her appointment demonstrates Kempen’s commitment to boosting growth in alternative investments. - Rutger-Jan Leewens, head Wholesale Distribution at Kempen, says: “Alternative investments are a key part of Kempen’s active approach, which aims to generate alpha for our clients. Driven by the search for extra yield, our clients are showing a keen interest in alternative investment strategies. Examples include our Private Markets and alternative Credit strategies. The enormous interest in the Kempen European Private Equity Fund and its faster-than-expected final close are other telling examples. We are very pleased that Anne Mei Poppe has joined us at this exciting time. She will strengthen the team and help us to boost the international growth of alternative investments.” Tags Moves & Appointments


22nd Jan 2020 - 9:48am QuantConnect announces designer algorithm development competition winners Submitted 22/01/2020 - 9:48am - QuantConnect has announced the winners of its innovative Alpha Five competition, which started in October 2019 and saw a sponsoring hedge fund solicit “designer” alphas from the crowd. - QuantConnect, an open-source algorithmic trading platform, provides its community of almost 100,000 quants access to financial data, cloud computing, and a coding environment where they can design, build, and live trade algorithmic trading strategies. - Alpha Five gave quants the opportunity to submit their alphas for one of the following five universes pre-defined by the sponsoring fund: Energy, Precious Metals, Technology, US Treasuries, or Volatility ETFs. Quants submitted their strategies for the chance to win part of a USD27,500 cash prize pool and the potential to be licensed by institutional investors for additional and recurring compensation. Over the course of October, 102 quants from 21 countries in five continents designed and submitted 245 algorithms for consideration; the competition strategies’ beta ranged from -1.1 to positive 1.4, providing a diverse range of uncorrelated signals to the sponsoring client. The submitted algorithms went through live paper trading in November and December, and were then judged by assigning a score based on the Sharpe ratio and the realism of the model. QuantConnect selected a first-, second-, and third-place winner for the highest-scoring algorithms in each universe. The full list of winners from Alpha Five can be found here. - These winning alphas will be available to license exclusively by the sponsoring fund for the first three months. Alphas from this competition that did not win will be available for live trading and for any hedge fund to license on the Alpha Streams marketplace. - “We knew that this competition would be a compelling opportunity for quants to gain value from their ideas, but even we were surprised at the diverse range of strategies submitted,” says Jared Broad, CEO and founder of QuantConnect. “During the competition, we saw a significant uptick in our website usage, which has continued to climb since the competition ended. This enthusiasm shows the great potential of this and future competitions for the QuantConnect community.” Tags Events


22nd Jan 2020 - 9:47am CFTC orders Australian company to pay USD1m for spoofing Submitted 22/01/2020 - 9:47am - The Commodity Futures Trading Commission has issued an order filing and settling charges against Propex Derivatives Pty Ltd, a proprietary trading firm headquartered in Australia, for spoofing in the Chicago Mercantile Exchange E-mini S&P 500 futures market. - The order finds that Propex, through a former trader, engaged in spoofing from at least July 2012 through March 2017, causing USD464,300 in market losses. - The order imposes a total of USD1 million against Propex, comprised of USD464,300 in restitution, USD73,429 in disgorgement, and a USD462,271 civil monetary penalty. It also requires Propex to cease and desist from violating the Commodity Exchange Act’s prohibition on spoofing. This case was brought in connection with the CFTC Division of Enforcement’s Spoofing Task Force. - - “This enforcement action demonstrates, once again, the continued parallel efforts between the CFTC and our law enforcement partners to preserve market integrity and protect market participants,” says CFTC Director of Enforcement James McDonald. “This action also shows the CFTC’s commitment to holding wrongdoers accountable wherever they may be located, including halfway around the globe.” - - The order finds that between July 2012 and March 2017, a Propex trader engaged in proprietary trading in commodity futures markets on behalf of Propex. On numerous occasions during that time period, the trader engaged in typical spoofing activities – placing bids and offers for E-mini futures contracts with the intent to cancel the bids and offers before execution. The trader typically placed order(s) that he wanted to get filled (genuine orders), on one side of the market, while on the opposite side of the market, he placed order(s) that the trader intended to cancel before execution (spoof orders). The spoof orders typically consisted of orders that were five times as many contracts as the genuine orders. Generally, the trader cancelled the spoof orders shortly after placing them, often after the genuine orders were filled. - Tags Legal & Regulation North America


22nd Jan 2020 - 9:44am Bixby Research and Analytics launches private markets news and information platform for hedge funds and asset managers Submitted 22/01/2020 - 9:44am - Bixby Research and Analytics, a fintech focused on information flow, has launched a web platform powered by Rightpoint technology, which connects asset managers and hedge funds to real-time market moving news and financial information for companies in the private debt market. - Over the last several decades, the asset management industry has seen unprecedented advances in technology; however, when you step back and look at where this advancement is taking place, it's been almost solely confined to the public market. Over the same time, private market information flow has remained antiquated with virtually no resources available to investment professionals. - "The market for leveraged loans has doubled in the past decade to over 1.7 trillion in assets, and approximately half of these companies are private," says Brian Conroy, Founder and CEO, Bixby Research and Analytics. "The lack of resources available to investment professionals in the private debt market has made it increasingly difficult to manage these positions. Our platform modernises information flow so our clients can stay focused on investing." - Bixby Research and Analytics turned to Rightpoint in 2019 for its best-in-class technology and experience-led approach to bring the concept to life. Bixby's web portal went live in late 2019 providing asset managers and hedge funds with real-time news, financial data and detailed portfolio information that is specifically tailored to each client's needs.With the private debt market being one of the fastest growing, and most underserved segments in the asset management world, Bixby Research and Analytics is uniquely positioned to become an industry leader in the fintech market. - "When Bixby turned to us to support them on the full experience of creating this platform – setting out to design and develop a solution that could transform the private investment marketplace – we were excited to work together on a product that is bringing the private debt market into the future," says Jason Sears, Senior Solutions Architect, Rightpoint. Tags Services Research & Analytics Technology & software solutions


22nd Jan 2020 - 9:43am LiquidityBook reports record-setting revenue growth Submitted 22/01/2020 - 9:43am - LiquidityBook, a Software-as-a-Service (SaaS)-based provider of buy- and sell-side trading solutions, has reported record results for 2019 across all sales and client growth metrics tracked by the firm. - This rapid growth was fuelled by a continued rise in demand for its - POEMS (portfolio, order and execution management system) platform, which provides significant cost, management and functionality benefits over the legacy platforms many investment managers currently employ. - LiquidityBook’s total revenues for 2019 were up 33 per cent year-over-year, fueled by steady client wins for each of the firm’s products: LBX Buy-Side, LBX Sell-Side and LBX Outsourced Trader. Recently, the firm signed multi-strategy manager FNY Investment Advisers, which resulted in significant enhancements to the LiquidityBook back end to optimize the way LBX utilises market data and processes fills. - Ninety fover per cent of new deployments were replacements of legacy platforms. Growth in the overall client base led to an 85 per cent increase in total orders sent via LBX Connect, LiquidityBook’s proprietary FIX network, as well as a 35 per cent increase in overall fill traffic. LBX Connect now has over 180 broker-dealers on the network globally, with clients able to send Equities, Options, Futures, FX and Swap/CFD orders, as well as allocations, to them. In addition, a primary focus in 2019 was the integration of multiple new OTC/credit-focused EMS and ATS platforms, with clients trading record amounts of Credit, Repos, Collateralized Loan Products and Credit Derivatives through LiquidityBook over the course of the year. - LiquidityBook continued to expand its global footprint in 2019, establishing a fourth office – in Sydney – in response to a rapid increase in clients seeking to execute investment ideas in the Asia-Pacific region. Opened by Chief Architect Andy Carroll, the office plays a vital role in providing local service and support to LiquidityBook’s growing roster of clients trading around the clock. The office will play a vital part in LiquidityBook’s plans to further expand into Asia-Pacific. - LiquidityBook also continued expanding its global development and client service organisation, making several key hires in 2019 including Alexander Ponyrko as Principal Software Engineer and Andre Meintjes as Asia-Pacific Client Services Lead. Over the course of 2019, Liquiditybook increased its headcount by nearly 50 per cent, all of which were in product development and client service. - During the year, LiquidityBook experienced a number of “firsts” as a company, including onboarding its first client trading over 50 million shares a day, as well as its first client with over USD20 billion in credit assets (Repos, Bank Debt, Collateralised Loans and Credit Derivatives). - Chief Revenue Officer Sean Sullivan says: “Thanks to a record-setting number of new engagements, we finished the decade with our strongest year yet. The discussion around SaaS-based technologies and the benefits they offer on cost, functionality and service continues to be a key factor in firms’ willingness and desire to migrate from legacy platforms. People today clearly recognise how valuable web-based apps are in their everyday lives, and it’s only logical that there is a growing market for this model in the trading technology space as well. - “It’s no secret that investment professionals must today offer more diverse products across the cap structure to stay competitive and retain assets. It is therefore very important to have a foundational product like Liquiditybook that can move with you as your business demands it to. Our workflow and asset class flexibility is one of the primary drivers for our 2019 growth, and based on our pipeline, we expect to see similarly strong demand in 2020.” Tags Results & performance Companies Trading & Execution Technology & software solutions


Xavier Rolet to Step Down as CEO of Billionaire Hintze’s Hedge Fund CQSBloomberg


The collapse of the American housing market in 2008 triggered the global financial crisis.


(Bloomberg) -- The hedge fund industry has no shortage of aggressive, in-your-face players, but few are as tough as Chris Hohn. The British billionaire takes the typical playbook to new levels—scuttling deals, pushing to remove bosses, and battering compa


New York hedge fund pressures Evergy to increase profits or sell the companyWichita Eagle


Following industry briefings in the first couple of weeks of the year, the activity by firms and lawyers in the Islands is gathering pace




Four years ago, Chris Collins became the first sitting member of Congress to endorse Donald Trump for president. Four years later, both have moved from New York to Florida and both have been accused of all manner of financial malfeasance. And that is where the similarities end, because while Trump ...


Calgary-based junior oil producer Granite Oil Corp has agreed to be bought by International Petroleum Corp in a deal that values the business at C$79.7 million.


Bailey McCann, Opalesque New York: Institutional investors are backing alternatives heading into 2020. According to the newly released Eaton Partners LP Pulse Survey, 72% of institutional investors expect alternative assets to meet or exceed their benchmarks this year. More than half (52%) also desc... Article link


Laxman Pai, Opalesque Asia: Global alternative asset manager Ares Management has agreed to acquire a controlling stake in Asian alternative money manager SSG Capital Holdings for an undisclosed amount. Headquartered in Hong Kong with offices across Asia, SSG manages private credit and special situ... Article link


Laxman Pai, Opalesque Asia: The global hedge fund industry AUM has increased by US$9.9 billion in 2019. Investor redemptions totaling US$126.2 billion have been recorded throughout the year, a level the industry has not seen post-crisis. The Eurekahedge Hedge Fund Index returned 8.74% in 2019, suppo... Article link


Laxman Pai, Opalesque Asia: Total hedge fund capital surged to $3.32 trillion, representing a quarterly increase of over $80 billion and surpassing the previous record of $3.24 trillion set in mid-2019. Driven by investor optimism regarding the record US-lead economic surge, the hedge fund industry ... Article link


Laxman Pai, Opalesque Asia: Incline Equity Partners closed its latest private equity fund, Incline Equity Partners Fund V, with $1.2 billion of capital commitments. The Pennsylvania-headquartered private equity firm said the fund was oversubscribed above its initial target of $850 million. Fund V re... Article link


Laxman Pai, Opalesque Asia: New Jersey-based energy infrastructure specialist Energy Capital Partners (ECP) has amassed $6.8 billion for its latest flagship fund and parallel co-investment pools targeting power plants and other energy-infrastructure assets, despite tepid interest from U.S. investors... Article link


B. G., Opalesque Geneva: SPARX Asset Management 's Japan Long-Short Fund (USD class) returned 15.98% in 2019, against the TOPIX 's 13.7%. "In Q4 2019, the Japanese stock market continued its substantial rise, due to high global stock prices resulting from progress in US-China trade talks ... Article link


For many hedge funds in Asia, 2019 was good, but not good enough From Bloomberg: For many Asia hedge funds, 2019 was a good year -- just not good enough to allow them to charge performance fees. More than 73% of Asia-based or Asia-focused firms made money in 2019. But almost 71% of those finished t... Article link


Asterion surges past debut fund target, hard cap to reach $1.22bn final close From Altassets: Asterion Industrial Partners has raised euro;1.1bn ($1.22bn) for the biggest private capital fund ever registered in Spain, bearing its original hard cap in the process. The Madrid-headquartered investor ... Article link


$1.6tn Japan's Government Pension Investment Fund says short selling is wrong From Washington Post: Japan's Government Pension Investment Fund has been a trailblazer in promoting the need to incorporate environmental, social and governance issues into the day-to-day job of portfolio construction. ... Article link


Global fund managers see above trend growth in 2020, rising corporate profits From The Street: Global fund managers are forecasting above-trend growth for the world economy this year, according to Bank of America's benchmark survey, and see the fastest inflation in more than a year as corporate ... Article link


Diamond Hill hires Artisan veteran as managing director for marketing Diamond Hill Capital Management, an independent active asset manager and a subsidiary of Diamond Hill Investment Group announced the appointment of Lara Hoffmans, CFA, as managing director, marketing, a new position, effective Fe... Article link


Is Bitcoin a safe haven for your money? From Coin Telegraph: In the summer of 2019, the 10-year minus 3-month yield curve inverted for the first time in 13 years. During the time of the inversion, Bitcoin's price hit all-time highs for the year. The previous inversion in 2006 was followed shortly t... Article link


Raising capital gets tougher for real-estate funds From WSJ: The amount of capital raised by real-estate private-equity funds plummeted in the fourth quarter of 2019 in a sign that investors are struggling to find high-yielding deals after years of soaring prices. Only $18 billion of real-estate ... Article link


Why Chicago Tribune staffers are terrified of their hedge fund owner From Forbes: Two veteran journalists from the Chicago Tribune published an op-ed on Sunday challenging one of the paper's principal owners, the New York hedge fund Alden Global Capital. The column-"Will The Chicago Tribun... Article link


UK 'leading' European market for ESG investments From Pension Sage: The UK is the 'leading European market' for environmental, social and governance (ESG)-related investments, with pound;6,439bn assets under management, according to joint research by Association of Luxembourg Fund Industry (ALFI) ... Article link


Big Australia investors to take riskier bets in hunt for returns From Bloomberg: Australia has some big decisions to make about its future. For insight into the stories that matter, sign up for our new weekly newsletter. Australia's largest investors intend to take riskier bets in 2020 as they hunt... Article link


Ray Dalio is in Davos (obviously), where the founder of the World Economic Conference is still insisting that it’s all about bringing people together in spite of not only having Donald Trump as his guest, but having Donald Trump use his platform to distract attention from his pro-forma impeachment ...


Private equity managers plan to raise ever-larger funds in 2020 From Bloomberg: Private equity firms have big plans for 2020. About three-quarters of managers raising a private equity fund in the coming year expect it to be larger than the prior money pool, according to an EY survey. That's the hig... Article link


The assets of Steve Cohen’s Point72 Asset Management could soon surpass those of predecessor SAC Capital.Point72 was running $16.1 billion this month. At its peak in 2008, just before the worst of the global financial crisis, SAC had $16.8 billion under management.The Stamford, Conn., multi-strategy shop’s assets subsequently dipped by a few billion dollars, then bounced back to an estimated $14 billion in 2013 — when a federal...


Hedge fund industry assets rose to $3.32 trillion in the fourth quarter as the record U.S.-led economic surge boosted investor optimism.


Hedge funds not controlled by white men had returns almost double their peers in the last three years — and also during times of crisis.


The Prosperity Quest fund wins out in December


Critics of Alden Global Capital say it has exacerbated financial problems at its publications by dramatically slashing headcount, then routing those profits back to investors.


Lawndale Capital Management is pushing the board at P&F Industries (PFIN +0.1%) to take several incremental capital allocation steps seen as maximizing value for all shareholders, including aggre


Two senior reporters make appeal for investors to step in over fears Alden Global will made deep cuts to newspaper


A $10 million nest egg can last you decades, especially if you make smart investments that prioritize income generation. But, with all the options available, how do you know which ones are...


21st Jan 2020 - 5:22pm Saemor’s market neutral fund suffers third monthly slide Submitted By Hugh Leask | 21/01/2020 - 5:22pm - - The Saemor Europe Alpha Fund, Saemor Capital’s long-running market neutral hedge fund strategy, shed 1.9 per cent last month – its third successive monthly loss –rounding off a disappointing spell for the Netherlands-based manager which saw the fund down almost 10 per cent for the year. - The fund - which uses a quantitative factor model aimed at making gains throughout the business cycle, regardless of market environment – generated positive returns in its value and price momentum trades during December. - But while tactical bets in value positions stemmed losses during the fourth quarter, other factor positions suffered negative returns, leaving the fund down 9.9 per cent annually in 2019, Saemor said in its monthly update. - “Our preference for highly profitable qualitatively strong companies, with earnings upgrades and attractive valuations, did not pay off,” Saemor observed. “The results of the UK election lifted domestic plays and banks, but the fund is no longer as geared towards UK domestics as it was a year ago, with earnings revisions having deteriorated for those stocks.” - Looking ahead, the firm is eyeing a recovery scenario in the business cycle, with value names outperforming other factor clusters in Europe and globally. Momentum stocks meanwhile should benefit from falling macro risk, Saemor officials observed in the note. - “Full year results and 2020 outlooks could be beneficial to earnings momentum, which remains one of the key building blocks of our multi-factor approach,” they added. “If and when both value and momentum start to work - our ‘goldilocks’ moment - we would expect a strong turnaround in performance for the fund. - As a result, the strategy is positioned net long in the IT, healthcare, utlilities, media, real estate and energy sectors, while being short materials, consumer discretionary, consumer staples, banks, telecoms and insurance.Aviva and GlaxoSmithKline are among the fund’s key long bets, along with Tate & Lyle and Bawag. Key shorts include Nokia and Daimler. - Geographically, Dutch, Austrian, Spanish, Swedish and Portuguese stocks are overweight in the portfolio, while Swiss, German, Danish and UK names are under-represented. Tags Results & performance Funds


Greenlight Capital says increased competition in streaming will be a challenge for Netflix.


Boaz Manor a.k.a. Shaun MacDonald has (allegedly) moved on with the times.


Based on the negative shift in performance over the past decade as shown above, it is no wonder investors have fallen out of favour with Fund of Hedge Funds


The 20 best-performing hedge fund managers of all time gained $59.3 billion in 2019 to post their best annual return in at least a decade, accor...


The record-setting year occurred despite net outflows of $13.6 billion in the fourth quarter.


Dame Katharine Barker, who also sits on the board at hedge fund manager Man Group, will take the chair at USS later this year


Chicago Tribune Staffers Seek New Owners Amid Fears of Hedge Fund TakeoverEditor And Publisher Magazine


Another large investor in Tegna Inc wants the U.S. regional TV station operator ...


Another large investor in Tegna Inc wants the U.S. regional TV station operator ...


21st Jan 2020 - 3:32pm JTC expands institutional senior leadership team Submitted 21/01/2020 - 3:32pm - JTC, a provider of fund, corporate and private client services, has announced two new strategic senior appointments within its Institutional Client Services (ICS) division. - Fiona Wild, joins JTC as a Group Director, Head of Operations – ICS and Marie Fitzpatrick joins as a Senior Director in ICS. - Wild will be responsible for leading and creating operational efficiency within the ICS network of offices to support the consistent delivery of the division’s business plan and to ensure an efficient and effective working environment. - Wild has over 17 years’ funds experience and joins JTC from IQ-EQ, where she headed up the fund services division for Jersey. Fiona will be based in JTC’s Jersey headquarters office and become an integral member of the ICS Division’s management team, led by Jon Jennings, JTC’s Global Head of ICS. She has extensive experience in all major alternative asset classes, including real estate, private equity, venture capital and renewable energy. Wild is a qualified chartered accountant and a graduate of Strathclyde University. - Fitzpatrick, joins JTC’s London office and will play a leading role in building and maintaining intermediary relationships and growing organic new business in the fund and corporate services markets with a particular mandate on developing our global Private Equity offering. - Fitzpatrick has over 20 years’ global funds experience and has spent eleven of those years working for two prestigious private equity firms and she is recognised as a leading business development executive. She joins JTC from Langham Hall where she had responsibility for growing new business across Europe. Marie is a qualified chartered accountant. - JTC’s Group Head of Institutional Client Services, Jon Jennings, says: “JTC is now firmly established as a leading provider of fund and corporate services globally and in order to support our continued expansion and growth, I am delighted to welcome both Fiona and Marie to the senior leadership team. They each bring a wealth of knowledge and experience that will further strengthen our proposition to both new and existing clients, as well as our many intermediary partners. Fiona and Marie will be instrumental in driving continuous improvement in our global operating platform, as well as strong growth of the business.” - Wild says: “I am excited to join JTC, one of the fastest growing and most innovative firms in the fund and corporate services market. Their vision for growth based on a scalable global platform and the delivery of client service excellence resonates deeply with me and I look forward to working with Jon and the other members of the ICS Division globally to help the business achieve its goals.” - Fitzpatrick adds: “I am delighted to join JTC at an exciting time in the company’s development. Since listing in 2018 the business has continued to grow strongly and I look forward to being part of the next chapter in JTC’s journey and in particular to being part of it’s expanding London-based team.” Tags Moves & Appointments


Machine-Learning Hedge Fund Voleon Group Returns 7% in 2019Bloomberg


Investors still redeeming from hedge funds, however


By Guest Contributor Aaron Filbeck, CFA, CAIA, CIPM, Associate Director, Content Development The death of the 60/40 may be a welcome change for multi-asset investors who understand that exposure to risk premia is perhaps a far better long-term investment strategy. Diversification remains an important facet of asset allocation, but weRead More


Ray Dalio, founder of Bridgewater Associates, joins "Squawk Box" at the World Economic Forum in Davos to discuss what he's watching in the markets for 2020.


Ray Dalio, founder of Bridgewater Associates, joins "Squawk Box" at the World Economic Forum in Davos to discuss the markets and why he's betting gold prices could surge to record highs.


The $16.1 billion hedge fund manager puts young recruits through a 10-month program called the Academy before they start as analysts.


Hedge funds turned heavy sellers of petroleum last week as the threat of conflict in the Middle East receded and was replaced by renewed concerns about the


MUST BE THIS RICH TO RIDE The 50th annual World Economic Forum kicks off today in Davos, Switzerland. As is tradition, the forum will give the 1% an opportunity to pat each other on the back, discuss income inequality (LOL JK) and presumably pledge a blood oath to the New World Order. Of course, ...


The mounting cost of regulation and capital requirements, coupled with the significant drop in new hedge fund launches, could pose an end to the mini-prime broker business.


The Eurekahedge Hedge Fund Index returned 8.74 per cent in 2019, supported by the risk-on sentiment among investors and positive geopolitical developments throughout the year.


21st Jan 2020 - 9:30am Ardea adds senior hire to investment team Submitted 21/01/2020 - 9:30am - Fixed income specialist Ardea Investment Management has made a senior appointment to its investment team as part of a strategic plan to capitalise on future growth opportunities. - Ardea has appointed Dr Laura Ryan to a newly created role as Head of Research, in which capacity she will progressively build a new research team to support Ardea’s growing investment capabilities. - Prior to Ardea, Laura was Senior Vice President (Quantitative Research) and member of the Australian senior management team at PIMCO, Manager of Quantitative Strategy at CBA, Quantitative Manager at AMP Capital Investors and a Lecturer in Statistics at the Australian National University (ANU). Laura’s 21 years of global financial markets experience brings depth of technical knowledge and experience across a range of fixed income investing capabilities, including Ardea’s specialisation of ‘relative value’ investing. Laura also has a breadth of experience extending beyond fixed income to portfolio construction, asset allocation and portfolio risk management. The research team, headed by Laura, will increase the breadth of Ardea’s global fixed income coverage by supporting portfolio managers in researching and developing relative value investment strategies. Leveraging Laura’s rare combination of strong academic credentials and extensive practical investment experience, the team will also produce value-add research and thought leadership for clients which will be independent of Ardea’s product offerings. In announcing Laura’s appointment, Ardea’s CEO and co-founder Stephen Clout, says: “We are thrilled to have someone of Laura’s calibre joining our investment team. Not only is she exceptional in terms of technical skills and investment experience, she is also a great cultural fit, being strongly aligned with our core values around client service and teamwork. - “Creating a research team under Laura is a key component of our strategic plan to prepare Ardea for a strong pipeline of long-term growth opportunities. This is a pre-emptive investment in resourcing to ensure we maintain our highest standards of alpha generation and client service as we continue to grow in a considered and sustainable way.” Ardea has also added Tom McFadyen as a Risk Analyst within the Portfolio Implementation team. McFadyen has worked with Ardea previously as part of an internship programme with The University of Sydney. He holds a Bachelor of Engineering in Mechatronics and a Bachelor of Commerce, majoring in Finance. With further hires planned over the course of 2020 to ensure Ardea is adequately resourced for future growth we have also appointed Anna Price as Office Manager to support Ardea’s growing team and company culture. Tags Moves & Appointments


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