All Alternatives articles – Page 130
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Features
Investment boost to innovation
APK Pensionskasse is a multi-employer pension fund with around 65,000 members. It manages 20 plans, the plan sponsors typically being industrial corporations. APK runs e1.8bn of plan assets, with about 1% of the portfolio invested in private equity. The pension fund has been investing in the asset class since 2001. ...
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Features
Traditional markets bullish
As can be seen from table 1, all hedge fund strategies except for convertible arbitrage posted positive performance in May. Consequently, three out of five strategies now show positive year-to-date returns, as opposed to two in April. Most traditional markets (for example , stocks, bonds, commodities) were bullish in May, ...
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Features
Looking into the futures
The returns of commodities futures are negatively correlated with stocks and bonds. Commodity futures provide diversification at times when stocks are performing at their worst. Commodity features have a positive correlation with inflation. These enticing characteristics are the conclusion of a study* by Gary Gorton, of the University of Pennsylvania’s ...
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News
Fortis opens sales office in Frankfurt
GERMANY - Fortis has opened a sales office in Frankfurt to offer a range of fund services to asset managers specialising in both traditional and asset classes.
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News
Central banks query hedge fund diversification
GLOBAL – The Bank for International Settlements, the central banks’ central bank, says fund managers’ claims about the diversification benefits of hedge funds may be overstated.
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News
Citigroup exits asset management business
GLOBAL – Citigroup has confirmed it is exiting the asset management business in a $3.7bn (€3.1bn) deal with Legg Mason.
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News
Henderson names Germany sales head
GERMANY - Henderson Global Investors has named Uwe Diehl to head of sales for Germany and Austria.
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News
Asset managers want hedge fund tax debate
UK – The UK’s asset management trade body has called for a debate about the tax position of hedge funds.
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News
HSBC gets Italian alternatives custody OK
ITALY – HSBC says it has received approval to open a custody operation for alternative investment funds in Milan.
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News
Morgan Stanley asset management profit slips 16%
GLOBAL – Second-quarter pre-tax income at Morgan Stanley Investment Management fell 16% to $175m (€144m) from $209m a year before.
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News
Allianz fund arm makes US disposal
GERMANY - Allianz Global Investors has sold Cadence Capital, a US institutional fund manager, to Cadence’s management and an outside private equity firm for an undisclosed sum.
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News
Watson’s Urwin doubts hedge fund capacity
GLOBAL – Roger Urwin, global head of investment consulting at Watson Wyatt, says the performance of fund of hedge funds is “in doubt” due to a lack of capacity at some of the managers.
