Does loyalty lie with the lawyer or the law firm?
Big changes were afoot in the London hedge fund legal scene last week, after New York-based Akim Gump swooped on Simmons & Simmons
18/08/2010
Gold wobbles give CTA funds a month to forget
Commodities have been a hot topic in the past month, particularly agricultural commodities, but gold’s reaction to swinging investor sentiment is also giving money managers pause for thought.
July hit many CTAs hard because of the fall in both gold and the likes of wheat; in both cases the falls were dramatic and made worse by significant leverage. Mulvaney Global Markets fund is having a tough year. February, March and May all saw the CTA lose more than 5%, but July was the killer, when it was down more than 12%, leaving it off by more than 30% for the year. Last month, the programme adjusted, but not before talking significant losses.
Brummer Partners’ Lynx CTA was another programme to lose out in July, but not as significantly as Mulvaney. The Sweden-based fund manager fell more than 3% in July, but is still up more than 3% for the year.
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Editor's view: 8 February 2012
Speculative moves, a perceived landgrab and a potential bidding war in the hedge fund sector have all opened up in recent weeks
Comment: Julian Korek
"Advisers need to be analysing key considerations and determining where they fall in the spectrum of SEC registration; no easy task given the scope of the legislation"
Investor demand for CTAs is on the rise, says Agecroft Partners
Agecroft Partners is seeing widespread demand from institutional investors for Commodity Trading Advisors (CTAs), which is a dramatic change from the historical reluctance of many institutional investors and their consultants to allocate to this strategy.
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