The benchmark Eurekahedge Hedge Fund Index was down 0.54% in March, while the MSCI World Index was down 2.21% over the month. Total assets under management decreased by US$3.1 billion during the month as the sector witnessed performance-based decrease of US$1.3 billion while registering net asset outflows of US$1.7 billion. The total size of the industry now stands at US$2.48 trillion.
The Eurekahedge Hedge Fund Index declined 0.54% in March while underlying markets as represented by the MSCI World Index declined 2.21% over the same period. Among regional mandates, Latin American managers posted the best gains, up 0.81% while all other regional mandates languished into negative territory. Across strategies, distressed debt hedge funds led the table with gains of 5.74% followed by relative value hedge funds which were up 0.31%.
Hedge funds registered their second consecutive month of losses since the start of the year, with the Eurekahedge Hedge Fund Index declining 0.54% in March, while still outperforming the MSCI World Index which ended the month down 2.21%. The average return of the global hedge fund was pulled into negative territory in March as choppy trading conditions across commodities, and weaker global equity performance continued to affect the trading scene. March was marked by investors’ concerns over the US and China trade war which made headlines throughout the month and negatively affected the global equity markets, most of which ended the month in the red. As of Q1 2018, hedge funds are down 0.13%, ahead of underlying markets as the MSCI World Index posted losses of 2.24%. Close to 55% of managers were in positive territory, and roughly 6% posted year-to-date returns in excess of 10% over the first quarter. Latin American managers led among regional mandates this month with their 0.81% gain,
Indian hedge funds outperformed their global peers by a large margin in 2017, riding on the back of the Indian equity market’s exceptional performance over the year. The Eurekahedge India Hedge Fund Index generated 28.96% return over 2017, dwarfing the 8.25% return posted by the Eurekahedge Hedge Fund Index over the same period, which also happened to be the best annual performance of the global hedge fund industry since 2013. However, most of those gains were generated through exposure toward the fast growing equity market of the country, raising the question of whether some of these hedge fund managers actually generate enough alpha for their investors to justify their management and performance fees.
Asian hedge funds ended 2017 with their strongest performance recorded since 2009, as reflected by the 16.94% gain posted by the Eurekahedge Asian Hedge Fund Index, which is more than double the 8.25% gain generated by their global peers represented by the Eurekahedge Hedge Fund Index over 2017. Incredible stock market rallies across the continent, especially in Greater China and India, combined with strong economic growth have greatly contributed to the performance of the hedge fund managers with exposure toward the region.
Eurekahedge’s Asian hedge funds infographic sums up the industry as at April 2018. Find out more about Asian hedge funds assets under management (AUM), asset flows into strategic and regional mandates, strategy returns, fund size and geographic AUM, head office locations and the best and worst performances of the year.
The Australian Government has targeted the use of Managed Investment Trusts (MITs) by foreign investors in a reversal of original policy objectives to the introduction of MITs, while couching the proposed package in terms of levelling the playing field.
This alert highlights important changes to the regulatory and compliance regime for the Cayman Islands investment funds industry in 2018
On March 1, 2018, the Administrative Measures for Outbound Investments by Enterprises (??????????) (“Circular 11”) issued by the National Development and Reform Commission (the “NDRC”) went into effect. In addition to regulating direct outbound investments by Chinese companies in general, Circular 11 introduces a new regulatory framework administered by the NDRC governing Chinese companies’ sponsorship of, and investment in, offshore private equity investment funds.
In the latest of a series of articles commenting on global regulatory developments in cryptocurrency, this client alert explores recent regulatory engagement with the token market (with a particular focus on Europe) and looks ahead to proposals for 2018. Gibraltar’s ICO regulations, as well as the Swiss regulator’s publication of ICO guidelines have arguably set the tone for an interesting year in the developing regulatory landscape.
A fund of hedge funds (“FoHF”) is an investment vehicle that offers its investors exposure to a portfolio of hedge funds selected by the investment manager of the fund. The investment manager uses his/her knowledge, diligence and expertise to select and manage the hedge fund portfolio, saving his/her investors from the need and the operational and resource commitments to do so. In implementing their investment strategy, FoHFs often utilize financing transactions for various purposes, among them to provide leverage and liquidity. Regardless of purpose, because these funds have no natural life span, the financing transactions typically remain in place for lengthy periods of time. And because of their relatively long durations, these transactions often require amendments to accommodate changes to the fund, transaction or structure of the pledged collateral. While many such amendments are routine in nature and may require limited legal analysis, amendments related to, or arising out of, ce
The benchmark Eurekahedge Hedge Fund Index was down 1.62% in February, while the MSCI World Index was down 3.68% over the month. Total assets under management decreased by US$39.2 billion during the month as the sector witnessed a performance-based decrease of US$34.2 billion while registering net asset outflows of US$5.0 billion. The total size of the industry now stands at US$2.49 trillion.
The Eurekahedge Hedge Fund Index declined 1.62% in February outperforming underlying markets as represented by the MSCI World Index which fell 3.68% over the same period. Among regional mandates, Latin American managers led the table, up 0.66% during the month while other regional mandated funds languished into negative territory. Across strategies, distressed debt hedge funds led the table with gains of 1.32% followed by arbitrage hedge funds which were up 0.53%.
Global markets underwent a sharp and speedy correction in February which saw equity markets post steep losses as investors prepared for a faster than expected interest rate hike in the US. The average return of the global hedge fund industry was pulled into negative territory as markets experienced sharp reversals, with trend following CTA/managed futures and long/short equities strategies lagging behind the pack. Hedge funds registered their first monthly loss of the year with the Eurekahedge Hedge Fund Index down 1.62% in February as volatility levels spiked across the board and unravelled the volatility risk premium trade. Despite steep losses during the month, hedge funds have protected on the downside and managed to outperform underlying markets as the MSCI AC World Index (Local) declined 3.68% in February.
This piece looks at the performance of CTA/managed futures hedge funds and its various sub-groups which have come under pressure during the difficult market environment of February. We conclude by looking at the returns for the industry heavy weight systematic macro hedge funds overseeing assets in excess of US$1 billion which recorded steep monthly losses in February declining 4.77%. In contrast to popular news insinuating that the recent market melt-down was the doing of a handful of AI hedge fund managers which recorded their worst monthly loss on record, it seems that the major casualties lie somewhere elsewhere.
The North American hedge fund industry grew by US$136.4 billion over 2017, owing to the strong performance of hedge fund managers, as indicated by the 8.60% gain posted by the Eurekahedge North American Hedge Fund Index over the year, which is its strongest performance since 2013. Thanks to the strong equity market performance around the globe, hedge funds with high long exposure to equities enjoyed the benefits of the record breaking equity market rallies. Despite falling behind their peers from Latin America and Asia, North American hedge funds kicked off 2018 with a decent performance, gaining 1.54% in January. Long/short equities funds topped the chart among strategic mandates with their 2.04% gain over the first month of 2018.
Eurekahedge’s North American hedge funds infographic sums up the industry as at March 2018. Find out more about North American hedge funds assets under management (AUM), asset flows into strategic and regional mandates, strategy returns, fund size and geographic AUM, head office locations and the best and worst performances of the year.
It has become an established industry norm to see independent directors appointed to the boards of offshore hedge funds. It is no longer a 'check box exercise' to confirm independent directors have been appointed. Institutional investors are increasingly concerned about the composition of the board, the experience and skill set of its members and the day to day relationship between both the board members themselves and the board and the investment manager.
By way of a June 10 2016 order, the Insurance Regulatory and Development Authority of India (IRDAI) set up a committee to evaluate the risk-based capital approach and market-consistent valuation of liabilities of Indian insurance business. The committee's report, released on July 17 2017, noted that after almost 15 years of promoter-run business (almost all existing entities are joint ventures with foreign companies), the Indian insurance industry is still dominated by government-owned public sector companies, and private insurance players in India are largely owned by well-established businesses.
By a number of measures, private equity transactions hit a post-financial crisis high in the UK in 2017. An abundance of dry powder and more relaxed debt terms from lenders, combined with the rates at which private equity sponsors are able to raise bonds and loans reaching all-time lows, has contributed to a busy 12 months for the market. This growth may also be in part attributable to private equity funds having become more comfortable with the new political landscape in the UK, as the dust begins to settle 18 months on from the Brexit referendum.
Over the past two decades, the United Arab Emirates (“UAE”) has acquired a richly deserved reputation as a dynamic business environment for investment, and a great place to buy, or to establish, a business.
This tax brief discusses those aspects of the US tax reform which have most relevance to Australian corporate and international taxation, both from a tax policy perspective and for inbound and outbound investment to and from the US.
The benchmark Eurekahedge Hedge Fund Index was up 2.20% in January, while the MSCI World Index was up 3.78% over the month. Total assets under management (AUM) increased by US$42.0 billion during the month as the sector witnessed performance-based increase of US$20.3 billion while registering net asset inflows of US$21.7 billion. The total size of the industry now stands at US$2.49 trillion.
The Eurekahedge Hedge Fund Index was up 2.20% in January while underlying markets as represented by the MSCI World Index gained 3.78% over the same period. Among regional mandates, Latin American managers led the table, up 4.47% during the month followed by Asia ex-Japan managers who were up 3.72%. Across strategies, CTA/managed futures hedge funds led the table with gains of 3.54% followed by long/short equities hedge funds which were up 2.37%.
January was a happy start to the year for hedge funds, with the Eurekahedge Hedge Fund Index up 2.20% in January. Meanwhile, underlying markets as represented by the MSCI AC World Index (Local) gained 3.78% over the same period. As the global risk on mode continues into January, trend following managers were positioned in good stead with holdings into equities and oil among performance contributors.
This piece revisits the performance of hedge funds that utilise artificial intelligence and machine learning theory in their trading process, focusing on the overall risk-return profile of artificial intelligence (AI) hedge funds as captured by the Eurekahedge AI Hedge Fund Index in comparison to traditional quants, equity-hedge strategies and the average global hedge fund.
The Islamic finance industry is a niche market predominantly serving the needs of the world’s Muslim population. Products marketed under the umbrella of Islamic finance comply with a different investment philosophy as opposed to traditional investment philosophy which the rest of the world are familiar with.
Since the onset of the global financial crisis, investors worldwide have grown more cautious in undertaking investments and have increased their demands for underlying investment products and instruments to be monitored by international compliance standards. The Undertakings for Collective Investment in Transferable Securities or ‘UCITS’ was developed to meet this post-crisis demand, as UCITS embodied by strong regulation resulting to a high level of investors protection with certain restrictions such as liquidity of the underlying assets and leverage caps to provide added transparency to investors.
Eurekahedge’s UCITS hedge funds infographic sums up the industry as at February 2018. Find out more about UCITS hedge funds assets under management (AUM), asset flows into strategic and regional mandates, strategy returns, fund size and geographic AUM, head office locations and the best and worst performances of the year.
As with a number of other developed economies which are ‘developing nations’ in the world of Islamic finance, Australia is all about opportunities and what could be. The difficulty is determining whether these opportunities will be seized and what will be.
Cryptocurrency is digital "money" that utilises encryption techniques to regulate the issuance of units and verify their transfer. Cryptocurrency operates without the participation of a central bank or other government agency.
On December 15, 2017, a Conference Committee established by the House of Representatives and the Senate released a unified agreement on the “Tax Cuts and Jobs Act” (the “Conference Agreement”) in the wake of the passages of the House version of the Tax Cuts and Jobs Act on November 16, 2017, and the Senate version on December 2, 2017.
The Eurekahedge Asian Hedge Fund Awards ceremony will be returning to Capella Singapore on 25 May 2018 to celebrate the best performing Asian hedge funds of 2017. Stay tuned to this page for regular updates on the event.
The benchmark Eurekahedge Hedge Fund Index was up 0.86% in December, while the MSCI World Index up 1.19% over the month. Total assets under management increased by US$21.9 billion during the month as the sector witnessed a performance-based increase of US$9.4 billion while registering net asset inflows of US$12.5 billion. The total size of the industry now stands at US$2.44 trillion.
Hedge funds edged higher in the final month of the year, with the Eurekahedge Hedge Fund Index gaining 0.86% in December while underlying markets as represented by the MSCI World Index was up 1.19% over the same period. Among regional mandates, Latin American managers led the table, up 2.50% during the month followed by Asia ex-Japan managers who were up 1.41%. Across strategies, event driven hedge funds led the table in December with gains of 1.57% followed by multi-strategy hedge funds which were up 1.31%.
2017 ended positively with much pomp and was a strong year for global markets. Hedge funds closed the final month of the year in positive territory with the Eurekahedge Hedge Fund Index up 0.86% in December while the MSCI World Index finished the month up 1.19%. For 2017 as a whole, hedge funds were up 8.25%, while underlying markets as represented by the MSCI World Index returned 17.55% over the same period.
Altinvestor Europe 2017 took off with a powerful opening presentation from a highly experienced pension executive presenting on how pension funds could secure long term success through collaboration with peers and asset managers and taking a more active and innovative approach to pension fund investment management.
The Eurekahedge Hedge Fund Index gained 7.32% as of November 2017 year-to-date, and is on track to post 12 consecutive months of positive gains in an annual year for the first time since 1999. Total assets managed by the global hedge fund industry currently stands at US$2413.0 billion, up US$188.2 billion over the year, which is the highest annual growth recorded since the end of 2013.
Eurekahedge’s global hedge funds infographic sums up the industry as at January 2018. Find out more about global hedge funds assets under management (AUM), asset flows into strategic and regional mandates, strategy returns, fund size and geographic AUM, head office locations and the best and worst performances of the year.
As the payments system continues to evolve, the RBA’s Governor considers the pros and cons of a digital dollar.
The Tax Cuts and Jobs Act (the New Tax Law), signed into law in late December by President Donald Trump, makes major permanent and temporary changes to the US federal tax system. The changes will have a significant impact on the structuring of US and foreign investments.
Touching the borders of Asia and Europe, Turkey is a splendid country full of God’s blessings that include its amazing geographical location. Its shoreline is a bridge between Europe, Asia & Africa, considering multiple factors including its important role within the region and its geographical conditions, it’s not wrong to say that the prospects of Turkey to become Islamic banking and finance hub is very high, due to different financial, economic and other regional issues in emerging Islamic finance centers.