Editor's view: 29 July 2010
Like Paris in the spring, the lure of the Ucits space is proving a heady experience for many managers. First Europe fell for the charms of these onshore products, now the Americans are joining in a communal swoon.
13/01/2010
Lighthouse Prime reshuffles personnel
Lighthouse Prime Services, a division of Lighthouse Financial Group, has restructured its senior-level personnel after an aborted attempt by First New York Securities to poach its prime brokerage
team.
As part of the personnel shakeup, Steve Simmons has been promoted to head of prime services sales from head of capital introductions. Jamie Caputo has been promoted to a senior position within parent company Lighthouse Financial Group, but will remain intimately involved in the day-to-day operations of Prime Services. He was previously co-head of prime services. Brian Stutman, the other co-head of Prime Services, has been released.
According to an HFMWeek source, First New York Securities had attempted to start a prime brokerage division and hoped to bring the Lighthouse Prime Services team on board late last year. The deal never came to fruition after Stutman, who initially pushed for the deal, failed to gain support from his colleagues.
Sources suggest that Lighthouse Prime employees were skeptical of a proprietary trading shop supporting a prime brokerage business.
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Comment: Amy B Hirsch
"It is imperative that investors of all types ensure they understand the relationship between the introducing party and the manager"
Investors sit tight on impaired assets
Playing the ‘what if’ game can be fun but, depending on the number of variables in question, it can get a little out of control. Apply this conceit to the hedge fund sector's performance during the financial crisis and the possible permutations become legion.
Hedge fund inflows in Q2
Hedge inflows have slowed as volatile markets made sitting on the sidelines the safest option in Q2. According to figures from HFR, the quarter’s $9.5bn - a 30% drop from Q1’s $14bn – reflected the 'wait and see' policy of many investors as the HFRI Fund Weighted Composite dropped -2.5%. With nerves setting in, recent predictions of a boom of interest in the alpha potential of smaller managers also fell flat, with the lion’s share of money going to large $5bn-plus managers.
Read MoreFunds of hedge funds fall out of favour
A growing number of institutional investors are now opting to invest directly into hedge funds instead of allocating to the space via funds of hedge funds.
Read More
22/09/2010
UK: Ucits IV
This month’s HFMWeek Subscriber Club breakfast will take place on Wednesday 22 September. Join us and…
30/09/2010
US: topic to be confirmed
The next HFMWeek Subscriber Club breakfast will take place on Thursday 30 September. Topic and…
19/07/10
HFM Week US Performance Awards
Following the success of the last year’s HFM US Hedge Fund Performance Awards we...
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