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SEI has launched a front-office liquidity management tool that allows its asset manager clients to continuously track, analyse and manage the portfolio positions of their funds as well as investor redemption provisions.
Amid the credit crisis and the resulting mass redemptions over the past several years, managers are demanding a more transparent and holistic view of their liquidity position.
SEI’s new Total Liquidity Management enhances SEI’s hedge fund and fund of hedge funds outsourcing platform by meeting this industry demand and helping clients better forecast and manage their cash flows.
Total Liquidity Management leverages technology from Comada, and
Investors have turned bearish in their outlook for the global economy and corporate earnings, according to the BofA Merrill Lynch survey of fund managers for July.
The survey shows a net 12 per cent of respondents predicting the global economy will deteriorate in the coming 12 months, the first negative forecast since February 2009.
This represents a big turnaround from June when a net 24 per cent forecast the economy to strengthen.
A net four per cent of the panel expects corporate profits to worsen in the coming year, also the first negative outlook in more than a year.
Altin, the Swiss alternative investment company listed on the London and Swiss stock exchanges, has increased its exposure to event driven managers from 12.14 per cent to 18.58 per cent.
The company added two new event driven funds, reflecting the growing opportunity set available to managers active in this strategy.
The portfolio’s largest strategy allocation, equity long/short, was slightly reduced and accounts for 29.15 per cent of the portfolio, while multi-strategy exposure remained relatively stable and totalled 18.17 per cent.
The macro strategy allocation accounts for 19.51 per cent of the portfolio and credit accounts for 10.70 per cent.
On
GLC has deployed the latest release of ProFundCom’s hedge fund marketing platform to improve its marketing and investor relations processes.
The new release of ProFundCom has given a new dimension to the marketing intelligence that is available for hedge fund and asset management marketing teams.
Damien Lipman, project manager at GLC, says: "ProFundCom’s new release has extended our ability to be more efficient and goal focused with our marketing as well as provide valuable feedback to our board of directors and our marketers."
"The new analysis of email and marketing engagement available in ProFundCom further improves the marketing process," says
Newedge’s suite of hedge fund indices all posted negative results for the month of June.
The Newedge CTA Index fell 0.19 per cent in June (+1.75 per cent year-to-date), while the AlternativeEdge Short-Term Traders Index fell 0.05 per cent (+0.83 per cent YTD), the Volatility Trading Index fell 1.06 per cent (-6.77 per cent YTD) and the Macro Trading Index fell 0.24 per cent (+1.43 per cent YTD).
The Newedge Macro Trading Index (Quantitative) was down 0.25 per cent in June (+2.45 per cent YTD) and the Macro Trading Index (Discretionary) was down 0.24 per cent (+0.96 per cent YTD).
Virtus Investment Partners, which operates a multi-manager asset management business, has launched the Virtus Premium AlphaSector Fund, an extension of Virtus’ AlphaSector product suite which is sub-advised by F-Squared Investments.
Similar to the Virtus AlphaSector Allocation Fund and the AlphaSector Rotation Fund, introduced by Virtus in late 2009, the Virtus Premium AlphaSector Fund is constructed exclusively from the nine Select Sector SPDR exchange-traded funds plus a short-term Treasury ETF.
The principal distinction between the strategies is that the Premium AlphaSector Fund has the ability to reallocate weekly, rather than monthly.
"Financial advisers recognise that our AlphaSector strategies provide clients what
The hedge fund industry posted an estimated inflow of USD4.0bn, or 0.3 per cent of assets, in May 2010, the third inflow in four months, according to TrimTabs Investment Research and BarclayHedge.
But poor performance drove industry assets to USD1.58trn in May from USD1.61trn in April, the first decline since July 2009.
“Performance was poor in May,” says Sol Waksman, chief executive of BarclayHedge. “Hedge funds posted a negative return of 3.2 per cent, the worst since October 2008. But flow data won’t show a hit until June because most funds allow redemptions only on a quarterly basis.”
The TrimTabs/BarclayHedge
The Lyxor Global Hedge Fund index, an investable index based on Lyxor’s hedge fund platform, was down 0.6 per cent in June.
Year-to-date the index remains in positive territory as it gains 0.1 per cent.
Long/short equity managers faced a difficult environment in which to make money.
European and emerging markets surged mid-month (over ten per cent) before giving back a large portion of the gains as the month ended.
US markets traded in a tighter range and ended the month down.
Long/short equity long bias managers unsurprisingly ended the month down 1.9 per cent, as did L/S equity variable
The IQ Alpha Hedge Strategy Fund, the first no-load, open-end mutual fund designed to replicate broad-based hedge fund performance characteristics, has marked its two-year anniversary.
“The past two years have seen explosive demand for liquid, transparent hedge fund-like exposures, as investors of all types and sizes seek to mitigate market volatility while maintaining exposure to potential upward moves,” says Adam Patti, chief executive officer at IndexIQ.
“With our mutual fund now having been live for more than two years, we have established a real world track record demonstrating how the fund performs through an extraordinarily challenging time. To date, both
SkyBridge Capital has committed to make an investment in Viathon Capital’s Whitewater fund.
Whitewater is a credit opportunity fund focused on liquid debt instruments of US and European corporate issuers.
The portfolio consists primarily of single-name loans and bonds selected through a fundamental credit research and corporate finance investment process.
SkyBridge Capital’s investment is being made from its SkyBridge Capital II Fund. In addition to providing Whitewater with long-term capital, SkyBridge will seek to enhance its investment by providing business-building support.
SkyBridge Capital currently has approximately USD7.4bn under management and advisory.
Rob Comizio, chief investment officer at Viathon Capital, says: "We
