Join us and our panel of experts for HFMWeek's Subscribers'…
Recent HFR data shows that, despite a run of uncertain performance, inflows continue to run relatively freely. In fact, it’s been a year of contrasts, with record allocations making up for strategy-wide losses over an uncertain and unpredictable seven months.
"No manager can ignore the macro environment, but historically the norm has been to be ‘macro aware’, not ‘macro obsessed’"
Lines between traditional and alternative asset classes continue to blur. In Europe this has boosted the use of Ucits, but here in the US, manager options are less clear-cut. However, in an attempt to widen investor bases and add transparency, a number of stateside managers are registering offshore funds as domestic mutual funds, in accordance with the US Investment Company Act of 1940.
While normally partisan politicians have at least attempted to speak with one voice on the UK’s ongoing hacking scandal, Europe’s sovereign crisis seems as consensus-light as ever. And, as European leaders dither, risking a potential Lehman-like contagion, managers are once again worrying about counterparty risk.
"As a trader becomes iconic or a strategy becomes popular, the buying interest can be self-fulfilling, until there is no one left to buy, and nothing to support the price. Did anyone say ‘bubble’?"
Performance has lagged behind the high hopes of the start of the year. This has created worried managers, but also a series of puzzled service providers who now have to take a long look at annual business plans written at the end of 2010, when growth seemed guaranteed.
Now that July’s crucial Ucits IV deadline is behind us, it’s worth reflecting on just how influential the wrapper has become. Whether down to investor demand – or, as some cynics suggest, just for marketing impetus – the vast majority of managers now feel naked without the ability to offer a ‘Newcits’ fund.
"Despite the ongoing concerns of some long-standing companies, Dublin has, in effect, re-established itself as a globally cost-competitive business environment, at least for new start-ups firm"
Following reports in HFMWeek (April 7) that financing activity for funds of hedge funds (FoHFs) had bounced back from a 2008 low, further service providers are now taking a fresh look at the space. A move propelled by a seemingly resurgent FoHF sector’s need for bridging loans.
The European Union’s Directive on Alternative Investment Fund Managers will come into force on July 21 following its publication in the Official Journal of the European Union on July 1.
29/02/2012
Join us and our panel of experts for HFMWeek's Subscribers' Club February's UK breakfast briefing…
29/02/2012
The next US HFMWeek Subscribers' Club breakfast, will take place on Wednesday February 29. Join…
02/02/2011
HFMWeek's European Hedge Fund Services Awards are designed to recognise companies that have outperformed...
