Hedge Funds
Currency fund returns on the up after tough few years
Profits rise as the paths of major economies begin to diverge
Russian banks face struggle to access credit and PB
Sanctions have reduced Russian banks' ability to trade in wholesale markets, but CLS's plans remain on track
JCI Capital bucks trend with Ucits fund launch
"We never get too excited, we never get depressed," says Giovanni Pozzi, partner and head of FX at JCI Capital, despite continued negative returns measured by the Parker FX Index in June
Fluent launches PB risk management solution
Product aims to solve the problem faced by prime broker banks lacking adequate pre-trade risk management systems
Mercury Forex diversifies from spot, takes over FX24
Swiss currency manager has collaborated with FX24 to launch a new discretionary trading programme
FX Week Europe: Currency managers need to react to short-term trends
Buy-side speakers at the conference divided on prospects for the euro, but all agree investment needs to adapt to short-term trends in currencies
Saxo looks to capture the middle ground of hedge funds
Following a major restructure at the start of the year, the Danish bank is now looking at a new growth area - the delivery of multi-asset class support services, including capital raising, to emerging hedge funds
FX Concepts teeters as clients exit and AUM plummets
Assets under management at FX Concepts have continued to fall and the fund's chief strategist confirms the board's ideas haven't worked so far
Agency desks hopeful new protocol will solve Dodd-Frank issues
A preliminary protocol to enable four-way FX prime brokerage involving agency desks has been agreed ‘in principle’ and could allow agencies to scale up their activities, having been largely reduced to spot since May
Morgan Stanley restructures FX prime brokerage
Global co-heads of FXPB have both left the bank and relationships with several clients have ceased following an ‘extensive review’ of the business
Hedge funds benefit from lower prime broker fees
Hedge funds can lock in favourable rates for prime brokerage services as competition forces banks to rethink pricing, says former BlackRock managing director David Geffen who now runs a consultancy
FX prime brokers forced to terminate double give-up trades
Prime brokers have had to cancel four-way agreements for trades involving two buy-side firms, on the basis that a no-action letter issued by the CFTC on April 30 did not cover this type of business
Japan trade captivates macro hedge funds
Top hedge fund managers at the Salt conference in Las Vegas are brimming with enthusiasm for Japanese equities as Abeconomics helps weaken the yen and boost economic growth
Standardised OTC swaps spice up futurisation fight
March saw the launch of a template for a new standardised interest rate swap product – an attempt to protect swap market liquidity from the threat of futurisation. The first product based on the template could be launched within weeks, but even some…
Hedge funds benefit from lower prime broker fees
Hedge funds can lock in favourable rates for prime brokerage services as competition forces banks to rethink pricing, says former BlackRock managing director David Geffen who now runs a consultancy
Commodity trader CF Partners launches first hedge fund
CF Partners, active in the commodities market since 2006, has launched a long/short equity hedge fund after hiring Alvaro Ventosa from Spanish fund manager Cygnus Asset Management
AIFM directive unlikely to cause significant changes in Cayman
The Cayman Islands Monetary Authority has opened negotiations with Esma on a co-operation agreement on the EU’s AIFM directive. Separately, its consultation on hedge fund directorships has closed
CTAs are an inexpensive and effective tail hedge, says AHL
Momentum strategies are rooted in observable market phenomena and tend to perform well in times of financial stress, says AHL’s chief scientist.
Saxo Bank launches FX prime brokerage for institutional clients
The Danish bank will launch FX Prime on January 23, having developed the service in collaboration with MarketFactory
Currency managers suffering badly in 2012, research finds
Low volatility and the eurozone crisis have combined to push currency management returns further into the red in 2012, according to JW Partners
Treesdale launches emerging markets global macro hedge fund
Treesdale Partners has launched an emerging markets-focused global macro hedge fund managed by Tiger alumnus Yoon Chang and ex-Barclays trader Ashley Honey
Hedge funds moving more assets into prime custody accounts with active management
A move to separate custody accounts since the financial crisis has turned into a major trend with hedge funds now placing a growing portion of their unencumbered assets with prime custodians.
Mifid amendments threaten HFT platform access
A set of parliamentary amendments to the Mifid review threaten to ban ‘sponsored access’ – a popular route for high-frequency traders to access platforms without going through a prime broker