News & Events Archive

Archive Year
April 2017

The Eurekahedge Report - April 2017

Eurekahedge

The benchmark Eurekahedge Hedge Fund Index was up 0.34% in March, while the MSCI World Index was up 0.79% over the month. Total assets under management (AUM) increased by US$12.0 billion during the month as the sector witnessed performance-based increase of US$2.7 billion while registering net asset inflows of US$9.3 billion. The total size of the industry now stands at US$ 2.27 trillion.


Asset Flows Update

Eurekahedge

The Eurekahedge Hedge Fund Index was up 0.34% in March while underlying markets as represented by the MSCI World Index gained 0.79% over the same period. Among regional mandates, Asia ex-Japan managers led the table, up 2.02% during the month followed by European managers who were up 0.73%. Across strategies, long/short equities hedge funds led the table with gains of 1.06% followed by event driven hedge funds which were up 0.47%.


Hedge Fund Performance Commentary

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Hedge funds gained 0.34% during the month of March, with their first quarter performance up 2.29%. Meanwhile, underlying markets as represented by the MSCI AC World Index (Local) gained 0.79% in March and are up 5.06% in the first quarter of the year. March was marked by investor scepticism over the Trump administration as proposed healthcare reforms to replace Obama’s Affordable Care Act did not meet intended outcomes.


Man versus Machine: Quantitative Hedge Funds

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The rise of computer-driven strategies in the hedge fund sphere has caught considerable interest from the investment community over recent years. These quantitative hedge funds incorporate automated trading strategies, enabling them to capitalise on price discrepancies in the markets through executing trade positions within a very short span of time. While these systematic hedge funds have been employing methods of technical analysis into their trading strategies, sentiment analysis is also an up and coming feature in investment decisions. Text-mining data collected from various sources could be an indicator of ground sentiment during key market events, which can then be used as inputs in trading models or for risk control.


2016 Overview: Key Trends in Asian Hedge Funds

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The hedge fund industry in Asia witnessed a difficult 2016 with investor redemptions a main contributor to the lethargy in asset base. Investors redeemed US$3.4 billion during the course of the year, with modest performance-based gains of US$1.6 billion recorded. Indeed, hedge funds globally have had a challenging year with strong redemption pressure from investors, and Asia as a whole was not isolated from this outlook.


Asian Hedge Funds Infographic April 2017

Eurekahedge

Eurekahedge’s Asian hedge funds infographic sums up the industry as at April 2017. Find out more about global hedge funds assets under management (AUM), asset flows into strategic and regional mandates, launches and closures, fund size, head office locations and the best and worst performances of the year.


Interview with Filippo Pignatti, Fund Manager at The Classic Car Fund

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The Classic Car Fund was launched in September 2012, driven both by a passion for cars and for uncorrelated alternative assets. The philosophy of The Classic Car Fund is simple; buy well-selected cars at attractive prices that have had a thorough evaluation by an independent expert, and sell them later at a profit. The fund is not focused on any specific make or production year, but emphasis is clearly on sports cars from various periods. Holding times vary vastly but the fund does not fall in love with its investments. Some cars have enabled the fund to realise a healthy double-digit profit in as little as three months, while others will remain in the fund for up to a few years. Also, and perhaps of more interest for most, against a small fee fund investors may borrow and drive some cars in the fund over a day or a weekend. If anyone asks you can truthfully say it is your car, as it is part of the fund you are an owner of.


Interview with Kevin Ellis, Managing Director at Horse Cove Partners

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Kevin Ellis brings more than 30 years of financial, administrative and operations experience to the Firm. Previously, Mr. Ellis was the COO and principal of FISCO Appreciation Management LLC. He also served as a Founding Principal, Managing Director and COO at Labyrinth Group, LLC, an investment management firm utilising structured securities. Prior to that, he was Manager of Corporate Development at Arthur Anderson, LLP, where he focused on finance, mergers and acquisitions. Earlier in his career, he served as Vice President of Business Planning at SUPERVALU, Inc. Mr. Ellis is a graduate of Minnesota State University-Mankato BA Finance and earned a Juris Doctorate from William Mitchell College of Law and was admitted to the bar in Minnesota in 1983.


Interview with Frederick ‘Rick’ Pagnani, Chief Executive Officer, Mt. Logan Re, Ltd.

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Mt. Logan Re, Ltd. is the securitisation vehicle for Everest Re Group, Ltd. (NYSE: RE), one of the largest professional (re)insurers in the world. Mt. Logan Re, domiciled in Bermuda, is registered as a Class 3 insurer and a Bermuda segregated accounts company and has been in operation for nearly four years in the insurance-linked security market.


Interview with Sladja Carton, Global Head of Strategic Development at Mizuho Alternative Investments, LLC

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Mizuho Alternative Investments (MAI) is an investment advisor dedicated to developing and managing quantitative investment strategies. MAI was established in April 2007 as a subsidiary of the Mizuho Financial Group, one of the largest full service financial institutions in the world with total assets of approximately US$1.7 trillion (as of 12/31/2016) and a global footprint. MAI is located in New York and manages or advises on approximately US$3.7 billion in assets, primarily for institutional clients (as of 3/31/2017). Investment products managed by MAI include CTA and quantitative global macro strategies and risk premia solutions.


Market Commentary by Aroya Capital

Eurekahedge

The explosion in trading of equity volatility derivatives since the 2008 financial crisis has spawned an extraordinarily wide variety of approaches, postures, objectives and strategies pertaining to equity volatility. These varied objectives include risk mitigation, directional trading, market timing, volatility risk premium capture and relative value trading. These strategies might include approaches that could be described as systematic, discretionary, quantitative or opportunistic.


March 2017

The Eurekahedge Report - March 2017

Eurekahedge

The benchmark Eurekahedge Hedge Fund Index was up 0.97% in February, while the MSCI World Index was up 2.72% over the month. Total assets under management (AUM) increased by US$26.1 billion during the month as the sector witnessed a performance-based increase of US$14.1 billion while registering net asset inflows of US$11.9 billion. The total size of the industry now stands at US$ 2.26 trillion.


Asset Flows Update

Eurekahedge

The Eurekahedge Hedge Fund Index was up 0.97% in February while underlying markets as represented by the MSCI World Index gained 2.72% over the same period. Among regional mandates, Latin American managers led the table, up 2.75% during the month followed by Asia ex-Japan managers with 1.43%. Across strategies, distressed debt hedge funds were in the lead with 1.34% gains followed by event driven hedge funds with 1.26%.


Hedge Fund Performance Commentary

Eurekahedge

Hedge funds gained 0.97% during the month of February. Meanwhile underlying markets as represented by the MSCI AC World Index (Local) gained 2.72% over the same period. February was marked by strong performance in US equities on the back of Trump’s fiscal and monetary policy announcements with the S&P 500 ending the month up 3.78%. Economic data out of the US also shed a positive light on the region with a pick-up in inflation bolstered by retail activity.


2016 Roundup - Activist Hedge Funds

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Activist hedge funds, a sub-strategy of event driven hedge funds, deploy shareholder activism as a key cornerstone of their investment strategy and have closer interactions with management of the companies which they invest into. Cultural differences also play a part in the adopted style of activism with Western activist hedge funds pursuing a dynamic approach, while their Asian counterparts adopt a more engagement-styled activism. This special feature takes a quick look at activist hedge funds, which have markedly outperformed their global hedge fund peers in 2016.


2016 Overview: Key Trends in North American Hedge Funds

Eurekahedge

Assets for the North American hedge fund industry grew by US$19.1 billion for annual year 2016, with strength led by manager performance as opposed to investor interest. Managers posted performance-based gains of US$34.0 billion in 2016, with the Eurekahedge North American Hedge Fund Index was up 7.77% over the same period, outperforming regional peers. Event driven mandated hedge funds led performance across strategic mandates, up 18.19% in 2016 followed by distressed debt and multi-strategy hedge funds which gained 12.86% and 11.17% respectively.


North American Hedge Funds Infographic March 2017

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Eurekahedge’s North American hedge funds infographic sums up the industry as at March 2017. 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.


Interview with Wang Qiang, CIO at Pinpoint Asset Management Limited

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Founded in 1999, Pinpoint is an Asia-based investment management firm that serves institutional investors, pension funds, private banks, fund of funds, family offices and high net worth individuals. Pinpoint Asset Management Limited was incorporated in Hong Kong on 4 Jun 2010 and regulated by the Hong Kong Securities Futures Commission for Type 9 (asset management) activities.


February 2017

The Eurekahedge Report - February 2017

Eurekahedge

The benchmark Eurekahedge Hedge Fund Index was up 0.87% in January, while the MSCI World Index was up 1.49% over the month. Total assets under management increased by US$2.49 billion during the month as the sector witnessed performance-based increase of US$1.29 billion while registering net asset inflows of US$1.19 billion. The total size of the industry now stands at US$ 2.23 trillion.


Asset Flows Update

Eurekahedge

The Eurekahedge Hedge Fund Index was up 0.87% in January while underlying markets as represented by the MSCI World Index gained 1.49% over the same period. Among regional mandates, Latin American managers led the table, up 3.73% during the month followed by Asia ex-Japan managers who increased by 1.93%. Across strategies, event driven hedge funds led the table with gains of 2.02% followed by long/short equities hedge funds which increased by 1.65%.


Hedge Fund Performance Commentary

Eurekahedge

Hedge funds started the year on a positive note, up 0.87% during the month of January. Meanwhile, underlying markets as represented by the MSCI AC World Index (Local) gained 1.49% over the same period. Among regional mandates, Latin American hedge fund managers topped the tables, gaining 3.73% while event driven managers posted the best returns, up 2.02% among strategic mandates.


2016 Roundup - Equity Focused Hedge Fund Strategies

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Equity focused hedge fund strategies have seen their assets under management (AUM) grow from US$460.2 billion since end-2009 to US$778.0 billion as of January 2017 through a combination of performance-based gains and investor allocations over the years. Having recorded six consecutive years of asset growth between 2010 to 2015, long/short equity hedge fund AUM contracted for the first time in 2016, declining by 2.56% on the back of steep investor redemptions totalling US$29.1 billion. Performance-based gains were the lowest on record in the last five years following losses in 2011. While 2017 has started on a positive note, with assets for long/short equity hedge funds approaching the US$800 billion mark, the year holds much uncertainty in store.


2016 Overview: Key Trends in Long-Only Absolute Return Funds

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Absolute return funds have had an impressive year in 2016, gaining 7.61%, well ahead of underlying markets and hedge fund peers which were up 7.33% and 4.46% over the same period respectively. Major global equity markets have ended the year in positive territory, supporting the performance of absolute return managers. Among regional mandates, North American absolute return managers topped the table in 2016, gaining 13.70% followed by their emerging markets mandated absolute return peers which gained 9.41% over the same period.


Long-Only Absolute Return Funds Infographic February 2017

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Eurekahedge’s long-only absolute return funds infographic sums up the industry as at February 2017. Find out more about long-only absolute return 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.


2016 Overview: Key Trends in Islamic Funds

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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. Under a Shariah-compliant framework, transactions which are considered to be unethical under Islamic law are prohibited and instead, fund managers invest in products which are compliant with Islamic guidelines. Islamic financial products are accessible to all investors, some of whom choose to allocate into Islamic funds for purposes of portfolio diversification or their preference in investing in products which deemed as socially responsible. In recent years, Islamic finance has been catching on with traditional finance institutions as international banks have expanded into providing Islamic finance services. As the use of derivatives, options and futures are deemed to be speculati


Interview with Maciej Wisniewski, Founder and Portfolio Manager at Macromoney

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Maciej Wisniewski is the Founder and Fund Manager of Macromoney and has full oversight of all company operations. Maciej has 20 years of experience in investments management and in successfully setting up investment funds.


January 2017

Eurekahedge Asian Hedge Fund Awards 2017

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Held on 27 May 2016, a turnout of 300 guests gathered for the 13th Eurekahedge Asian Hedge Fund Awards ceremony to commemorate the 88 top performing Asian hedge funds of 2015 which saw familiar friends and new faces.


The Eurekahedge Report - January 2017

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The benchmark Eurekahedge Hedge Fund Index was up 1.03% in December, while the MSCI World Index was up 2.38% over the month. Total assets under management increased by US$4.62 billion during the month as the sector witnessed performance-based gains of US$12.24 billion while registering net asset outflows of US$7.62 billion. The total size of the industry now stands at US$2.23 trillion.


Asset Flows Update

Eurekahedge

The Eurekahedge Hedge Fund Index grew 1.03% in December while underlying markets as represented by the MSCI World Index were up 2.38% over the same period. Among regional mandates, North American managers led the table, up 1.22% during the month followed by European managers with 1.07%. Across strategies, event driven hedge funds were in the lead with 1.65% gains followed by macro hedge funds with 1.32%.


Hedge Fund Performance Commentary

Eurekahedge

Hedge funds gained 1.03% during the month of December, with 2016 returns coming in at 4.48%. Meanwhile, underlying markets as represented by the MSCI AC World Index (Local) gained 2.38% in December with its 2016 returns coming in at 7.37%. North American equity markets traded higher in December as the Trump-driven reflation theme buoyed markets in a somewhat ‘honeymoon’ period post-election. The S&P 500 Index gained 1.82% during the month, with the DJIA also up 3.34%.


Artificial Intelligence: The new frontier for hedge funds

Eurekahedge

Quantitative hedge fund strategies have received considerable interest from investors over the last decade. The application of growing computing power and the availability of big data has enabled these systematic trading models to capitalise on market inefficiencies that were otherwise difficult to identify or harvest given the implied trading costs. However, this growth has met with some headwinds on two key accounts; firstly, trading models built using back-tests on historical data have often failed to deliver good returns in real time (as previously identified trends have broken down), and secondly, the diffusion of similar quant models which has led to crowding in the space and consequently depressed the returns from such strategies.


2016 Overview: Key Trends in Global Hedge Funds

Eurekahedge

2016 has been quite a nerve-wrecking year as the global hedge fund industry anticipated and responded to a string of unexpected events. As such, market jitters were very much present for investors as the results of two major events which had happened - Brexit and the US Presidential Elections, had caught the world by surprise. The global hedge fund industry faced steep redemption pressure from investors this year, with total net outflows coming in at US$28.2 billion. On the other hand, managers posted good performance-based gains, up US$17.8 billion over the same period.


Global Hedge Funds Infographic & Top Hedge Fund Strategies January 2017

Eurekahedge

Eurekahedge’s global hedge funds infographic sums up the industry as at January 2017. Find out more about global hedge funds assets under management (AUM), asset flows into strategic and regional mandates, launches and closures, fund size, head office locations and the best and worst performances of the year.


Interview with Chris McKeown, CEO at New Ocean Capital Management Limited

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New Ocean Capital Management Limited is a Bermuda-based asset manager with expertise investing in reinsurance risk products. New Ocean is focused on providing investors with risk-adjusted returns in the insurance and reinsurance convergence market. Chris McKeown has 30 years of experience in the reinsurance industry, including six years managing a traditional reinsurance portfolio (ACE Tempest Re), five years actively managing capital invested in alternative reinsurance risk structures (CIG Re/New Castle Re). Mr. McKeown also spent 15 years in the insurance brokerage business, in both business production and senior management roles (Guy Carpenter).