We are pleased to announce the nominees for the Eurekahedge Asian Hedge Fund Awards 2016 which will be taking place at Capella Singapore on 27 May 2016. Well into its 13th year, the event has had award categories across the board in regional and strategic mandates that not only reflect the industry’s performance, but also highlight outstanding performers of the year.
The April 2016 Eurekahedge Report contains qualitative and quantitative analyses on the industry's assets flows and performance over the past month, with a special feature on key trends in global hedge funds.
The Eurekahedge Hedge Fund Index gained 1.33% in March while underlying markets as represented by the MSCI World Index declined 5.47% over the same period. Among regional mandates, Latin American managers posted the best gains, up 4.85% during the month followed by Asia ex-Japan hedge funds which saw gains of 4.78%. Across strategies, event driven hedge funds led the table with gains of 3.16% followed by distressed debt hedge funds were up 3.03% - an impressive rebound after their four-month losing streak.
Hedge funds recovered part of their losses from earlier in the year and were up 1.33% in March as underlying markets represented by the MSCI World Index gained 5.47% in what shaped up to be a positive month for global markets. The Fed's decision to roll back further on its scheduled interest rate hikes for 2016, coupled with rising oil prices and monetary easing in China provided much need relief for the markets. As of end-Q1 2016, hedge funds are down 0.37%, ahead of underlying markets as the MSCI World Index posted losses of 1.97%.
The world economy had a shaky start in 2016 with investors flocking to safe haven assets amid a volatile market environment. The global hedge fund industry’s asset base contracted US$20.1 billion as of February 2016 year-to-date, with performance-driven losses a main contributor to this contraction. Performance-based losses stood at US$16.6 billion in the first two months of 2016 alone, while investor outflows of US$3.5 billion were recorded. The assets under management (AUM) of the global hedge fund industry currently stand at US$2.22 trillion, managed by a total of 11390 hedge funds. Going into 2016, further easing seems to be a main theme as central bankers worldwide have largely adopted accommodative monetary policies in an attempt to re-energise the current lethargy of the world economy.
Eurekahedge’s global hedge funds infographic sums up the industry as at April 2016. Find out more about hedge fund assets under management (AUM), asset flows into strategic and regional mandates, launches and closures, lifespan of active and obsolete funds, and the best and worst performances of the year.
InnoFusion Capital Management runs a multi-strategy fund focused in relative value/arbitrage strategies. The fund invests in a wide range of asset classes and financial products, including equities, fixed income, convertible bonds, commodities and derivatives. During the last 10 years, the fund return 14.35% per annum with very low correlation to various markets and asset classes. Dr. Leung Wing Cheong, CEO and CIO shares with Eurekahedge the fund's investment strategy.
The QUAD Asia Absolvt Fund is an Asia inc Japan market neutral (low net) strategy that utilises a fundamental, bottom up, research driven process investing mainly in listed equities of Asia markets (mainly Korea, Japan, Greater China) but selectively include global stocks. Hyung-Kyu Choi is the Managing Partner of Korean-based asset management firm QUAD Investment Management since January 2014. With 16 years of experience in investments, FX trading and credit analysis, Hyung-Kyu shares with us the fund's investment objective, along with his thoughts about the impact of smart watches on the industry, and display technology.
King & Wood Mallesons recently launched its five annual DealTrends report (Report) for private M&A in Australia. The Report draws off actual private M&A deal data in the Australian market and is the only one of its kind currently being produced for the Australian market. The Report gives insight into the changes in market practice for private M&A and the data collected allows us to differentiate for a variety of factors, including deals involving PE sponsors. Below we highlight the standout trends in private M&A over the last five years, recent material developments and areas in which PE sponsors are significantly diverging from the broader M&A market.
There has been much discussion about possible consequences for UK pensions should the public vote to leave the EU in June. We discuss the main strands of this debate, both legal and concerning the wider pensions environment, and start by confirming our view that Brexit would not mean an immediate change to the regulatory and legal arena of UK pensions.
Good or bad, European law has had a bearing on some of the most challenging themes of UK pensions law. In particular, for equal treatment and the valuation of benefits, as well as in the transactional sphere, EC legislation has had a marked influence on our domestic law.
Perhaps in contrast to other investment strategies, discretionary global macro (macro) managers cannot be easily categorised into homogeneous groups. Macro funds will vary by a number of characteristics, including but not exclusive to, asset-class focus, geographical focus, trading style (thematic versus idiosyncratic), investment horizon and structuring sophistication. The focus for a particular manager will of course be influenced by the skill set and experience of the portfolio managers and their team.
The provision of benchmark indices will, for the first time, be brought within regulatory scope in the EU with the impending introduction of the Regulation on Indices used as Benchmarks in Financial Instruments and Financial Contracts, commonly referred to as the ‘Benchmark Regulation’, (the Regulation). The aim of the Regulation is to ensure the accuracy, robustness and integrity of benchmarks and the benchmark setting process. The Regulation introduces a requirement for the prior-authorisation/registration and on-going supervision of benchmark administrators, and prescribes conditions with regard to improving their governance structure; greater transparency of the benchmark production process; and the enhanced supervision of what are termed ‘critical benchmarks’.