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PVE Capital, a London-based macro credit fund manager which launched in October 2009, has made five additional hires.
Loren Remetta, an index trader most recently at UBS in London, joins as a portfolio manager to focus on liquid credit products within the trading platform at PVE.
Alexei Garan, Melody Adams and David Yuen join from Credaris, where they previously worked with two of the founding partners, Gennaro Pucci (pictured) and Christian Evans. Garan, Adams and Yuen strengthen the analytical and trading functions in ABS, CDO and financial modelling respectively
Helene Schutrumpf also recently joined PVE as a product
Martin Currie Investment Management has agreed to acquire the Sofaer Capital European long/short equity business.
Sofaer Capital currently manages approximately USD280m of assets, of which USD140m is the Sofaer Capital European Hedge Fund and USD140m two separate accounts.
It is expected that the two principals who manage this fund, Michael Browne and Steve Frost, will join Martin Currie on 1 July 2010. Charlotte Dagg, the investment analyst working on the fund, is expected to join later in the year.
It is expected that the Sofaer Capital European Hedge Fund will be managed by Martin Currie with effect from 1 July
At the derivatives markets of Eurex an average daily volume of 16.2 million contracts was traded in May 2010, up from 11.8 million in May 2009.
Of those, 12.2 million contracts (May 2009: 7.4 million) were traded at Eurex and another 4.0 million contracts (May 2009: 4.4 million) were traded at the International Securities Exchange.
The strong increase of Eurex turnover of 65 per cent year-on-year is due to the increasing use of exchange-traded and centrally cleared derivatives in the current market environment, which was driven by high volatility and uncertainty as well as the dividend season.
In total, 335.7
Rosseau Asset Management has been ranked the number one event driven hedge fund globally by BarclayHedge for both the five and ten year periods ending 31 December 2009 with average annual compound rates of return of 25.27 per cent and 21.47 per cent, respectively.
Warren Irwin, founder and portfolio manager, says: "In the past, we have received recognition for our returns in specific years, but to receive it for our longer-term record is especially satisfying. Rosseau takes a long-term approach to investing and we look forward to working hard to ensure our solid returns continue over the next ten years."
Tora, an Asia-based provider of trading technology and financial services, is expanding Tora Crosspoint to cover new markets including Hong Kong, Singapore and Australia, following the launch of the service for Japan.
Tora Crosspoint is an off-exchange liquidity venue comprised of Tora’s internal liquidity flow and the aggregation of liquidity from multiple venues in Asia, such as broker crossing engines and third-party pools.
It provides the trading community with a central point of access to multiple off-exchange liquidity venues without requiring any changes to their existing workflow.
Tora Crosspoint was launched for Japan in February 2010 leveraging the internal
Harcourt Investment Consulting has launched the Vonda Ucits Fund.
Vonda Ucits combines the performance of hedge fund investments with the benefits of the Ucits framework, which provides EU-regulated liquidity, transparency and diversification guidelines.
The fund aims to produce long term absolute returns, with a target return of Libor + four per cent per annum over a business cycle and a target volatility between six and eight per cent per annum.
The fund focuses on managed futures (CTAs) and global macro strategies, and aims to provide investors with a sound uncorrelated investment alternative in the Ucits hedge fund universe.
The selected
Singapore Exchange’s derivatives market will start trading the new SGX Nikkei Dividend Point Index futures from 17 June, making SGX the first Asian exchange to trade a dividend futures contract.
The SGX Nikkei Dividend Index futures will expand SGX’s existing range of Nikkei products.
The Nikkei 225 Index futures traded on SGX currently accounts for 30 per cent of global trading of the contract.
The SGX Nikkei Dividend Index futures contract is based on the Nikkei Stock Average Dividend Point Index. Nikkei calculates the index based on accumulated dividends received by investors from constituent companies of the Nikkei Stock Average
Lyster Watson, a hedge fund advisory firm, has received US patent protection on its True Alpha hedge fund rating and ranking system.
The US Patent Office awarded the firm and portfolio manager Marc Freed US Patent No. 7,707,092 on 27 April.
First created in 2003, the methodology identifies superior hedge fund managers based on a fund’s True Alpha score, which compares its returns and volatility to its peer group.
Resulting rankings allow Lyster Watson’s portfolio management team to distinguish those managers who have demonstrated skill to generate above-average returns with less volatility.
“This patent is recognition of many
BluMont Capital is making a series of changes to the BluMont Core Hedge Fund, effective 1 July 2010.
Sherpa Asset Management will be awarded the exclusive investment management responsibilities of the fund.
Sherpa, based in Vancouver and headed by David Guarasci (pictured), will employ a market neutral strategy. Guarasci has 17 years of investment management experience and spent ten years as global head of currency, spot and options trading at TD Securities, managing the bank’s proprietary capital.
Guarasci says: "Sherpa is delighted to bring its investment management expertise to both the fund and BluMont Capital. We look forward to providing
Ozannes and Mourant du Feu & Jeune, two offshore law firms, have merged to create Mourant Ozannes.
The merged firm brings together two legal practices in Guernsey and Jersey to create a firm with industry knowledge across the Channel Islands.
With over 200 fee-earners and 50 partners practising from offices in the Cayman Islands, Guernsey, Jersey and London, Mourant Ozannes is one of the world’s largest offshore law firms.
Group managing partner Jonathan Rigby (pictured) says: “We are very excited by the opportunities that the merger presents and we are looking forward to working together as one firm towards our
