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Alternative Investment

Highlights

April 23

News Mixed outlook for L/S Equity Neutral and Short-Selling

Lyxor’s L/S Equity Neutral peer group was down -2.8% year-to-date, hurt by extreme trading conditions and the constituents’ average market beta of 20%. The environment has been challenging for the strategy amid extreme stock volatility and unsettling heavy systematic trading (...)

Strategy

CTAs as shock absorbers

Note

ESMA report values EU Alternative Investment Funds at €5.8 trillion

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November 2019

Strategy Small, Medium, Large HF: How to choose?

Should alternative portfolios favor smaller, medium, or larger hedge funds? The choice might not be as obvious as before and may be more dependent on the stage of the business cycle. For many years, small hedge funds have steadily outperformed their large peers, sometimes by (...)

October 2019

Strategy Trend reversals briefly halted the CTA rise

Despite the escalation of trade tensions during the third quarter, economic activity has remained quite resilient. Macro data releases even managed to beat expectations in the U.S. and in Japan, leading to a sudden rise in bond yields over the course of (...)

October 2019

Strategy Falling Geopolitical Premium to fuel Global Macro Strategies

Progress in trade talks between the U.S. and China and in Brexit negotiations knocked down safe assets last week. Bond yields rose in most developed countries and gold prices fell, as the stance on both thorny issues reversed and turned (...)

October 2019

Strategy Slow and steady march towards a higher volatility regime

Volatility regimes are decisive for most investment approaches, particularly hedge funds. For both top down players (CTAs, Global Macro, FI Sovereign Arb.) and bottom-up strategies (L/S Equity, Event Driven, Credit Arb.), volatility deeply influence their universe and the (...)

October 2019

News Momentum is back but for how long?

Going forward, our stance remains defensive on equities, in particular on European, Japanese and EM markets (UW). In the space of alternative strategies, we prefer Market Neutral L/S vs. Directional L/S, despite the fact that the latter has adopted a cautious stance in (...)

September 2019

Strategy Which hedge funds strategy amid rising uncertainties?

Despite massive headwinds from trade tensions, Brexit deadlock and the manufacturing recession, asset prices have been incredibly buoyant so far this year. But as we head into Q4 2019, the sky starts to fill with clouds. We believe the balance of risks is highly asymmetric (...)

September 2019

Strategy Good luck with timing CTAs - Favor core allocation

Timing CTAs is notoriously challenging. Monitoring their exposures provides a useful picture but has rarely been a reliable allocation method. They enjoyed an impressive rally this year, mainly supported by their long bond positions, which fueled high CTAs returns’ (...)

September 2019

News Momentum crash impacted hedge funds

A spectacular momentum crash unfolded since late August, caused by the bounce back in sovereign bond yields. Within equity markets, value stocks experienced an impressive rebound while momentum stocks fell strikingly.

September 2019

News Hedge funds could help deal with the uncertainties

Despite colossal headwinds related to trade tensions, the Brexit deadlock and the manufacturing recession, asset prices have been incredibly buoyant so far this year. Equities are recovering from the August drawdown and are approaching late-July record (...)

September 2019

News Merger Arbitrage outlook for H2 2019

M&A patterns are also showing healthy dynamics. A healthy number of hostile deals (usually riskier but more profitable) tends to concentrate on smaller targets. Jumbo deals are increasingly funded by stock and cash combinations, also favorable for (...)

July 2019

News What’s behind the rally in global macro strategies

According to our estimates, CTA and Global Macro strategies have so far extended their winning streak in July. While we recently talked about the reasons for the outperformance of CTAs (+9.3% year-to-date), the performance of Global Macro strategies is a bit more ambiguous, (...)

July 2019

Strategy No stress in distressed: Green light for credit strategies

With only about 12% of the distressed debt maturing within the next two years, liquidity pressure is likely to remain benign. Meanwhile, the number of issuers seeking a maturity extension, amendments or waivers to their financial covenants remain (...)

July 2019

Note European Alternatives Industry Hits €1.62 Trillion in Assets

Preqin launches its second annual Alternatives in Europe report in partnership with Amundi, which examines the alternative assets industry’s most diverse region, and for the first time provides a breakdown of the sector in each major European (...)

July 2019

Strategy Our take on opposite Macro/CTA views on bonds

Systematic Global Macro and CTAs are often associated because many strategies are multi-asset, global, and have a top down investment process. Benchmark indices tend to pool them together.

July 2019

News LGT European Capital announces final close of Crown European Private Debt II S.C.Sp. at EUR 1.35 billion

LGT European Capital announces the final close of Crown European Private Debt II S.C.Sp. (CEPD II), with total subscriptions of EUR 1.35 billion (original target of EUR 800 million). The program’s investor base consists of more than 60 institutions, including pension funds, (...)

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Latest articles

Popular articles

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Strategy Trend reversals briefly halted the CTA rise

Despite the escalation of trade tensions during the third quarter, economic activity has remained quite resilient. Macro data releases even managed to beat expectations in the U.S. and in Japan, leading to a sudden rise in bond yields over the course of (...)

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Stories Capital Fund Management: Simply the best?

Discus Fund, one of CFM flagship funds, posted 23 percent year-to-date positive returns as of october end, the best performance amongst all the global systematic funds. This is the confirmation the know-how of the French manager which has shown exceptional trackrecords for (...)

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Stories George Soros : « The Man who caused the fall of the pound sterling »

Born in Budapest in 1930, George Soros became world famous for speculation of the pound sterling on a grand scale! He became a legend in finance and today is retired.

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News The year 2016 gets off to a great start for CTAs

Year to date, most alternative strategy performance are negative. Despite this challenging environment, CTAs have recorded an excellent start since the beginning of the year. According to Credit Suisse, CTAs posted a gain of 7.38% in late February 2016, the strongest (...)

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Interview Jean Louis Monnier : « There is a very practical demonstration of the decorrelation of the ILS market »

According to Jean Louis Monnier, head of European ILS at Swiss Re, direct investment in Insurance Linked Securities is a market reserved to qualified institutional investors which manage a minimum of 100 million dollars and which have the ability to evaluate the risk (...)

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Note Starting a hedge fund in the aftermath of Lehman

The landscape has radically changed over the past four years, even though the number of launches once again started to increase in 2011. In 2007 there was a peak in the number of new hedge funds that were launched, with 1200 new funds created all over the (...)

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News John Paulson has lost nearly $ 500 million betting on Sino-Forest

Paulson & co and many other fund management companies have been caught by the markets after the revelations about Sino-Forest real wealth. Is it a lesson taught to the funds invested in shares of companies expected to capture growth in emerging markets (...)

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Stories Axa Rosenberg: a $217 million bug.

The American quantitative management firm is struggling to get over a scandal that originated from an IT error and which lead 600 of its clients to lose money.

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Profile A day with a Hedge Fund manager

Based in London, John Dennis is the manager of a hedge fund which investing in the raw materials market. He looks for the best return on investments on behalf of his clients, investors from institutions and wealthy (...)

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Innovation H2O Asset Management launches Fidelio a long –short absolute return equity fund

H2O announced the launch of Fidelio, a long–short equity fund which aims to generate an absolute return of 5% p.a. over a recommended 3?year investment horizon. The funds objective is to keep volatility below that of global equity markets within this timeframe. It will also (...)

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Stories John Arnold : The natural gas guru

John Arnold came under the spotlight in 2006 after the fierce battle with Brian Hunter, Amaranth Advisors’ star trader, on the U.S. natural gas market.

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News Top 20 largest hedge funds

According to Bloomberg, the $69 billion Man Group tops the list of the largest hedge funds, an industry that is selectively recovering.

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People Moves The Asia prop trading team of Goldman Sachs will also start its hedge fund!

The Hong Kong-based prop traders of the famous "Principal Strategies" desk at Goldman Sachs are also preparing to leave the bank.

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Salary & Bonus John Paulson’s hedge funds has generated more than $32bn in net profits since inception

John Paulson is catching up with George Soros whose Quantum Endowment Fund has generated more than $35bn for clients since inception

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Interview Bruno Crastes : « Our models are still based on an enhanced version of the Black-Litterman model »

Former star managers of Amundi, Bruno Castres and Vincent Chailley have created H2O Asset Management, a London-based alternative management company. In an interview with Next-Finance, Bruno Castres unveils the firm’s objectives and (...)

Focus

Interview Baptiste Buisson : « We consider increasing the size of this type of investment (Absolute Performance UCITS) in the coming quarters »

According to Baptiste Buisson, Deputy Director at Aviva France, Investing in this type of support like Alternative Risk Premia allows players like Aviva France to diversify our investments.

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