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  • The overall industry has returned an average near 10 per cent, despite negative returns from managed futures funds and lagging aggregate returns from macro strategies.

Hedge funds continue to outperform, entering 2017 with over 70% of all strategies in positive territory

The hedge fund industry entered 2017 with similar performance trends it displayed in 2016. January’s gains were the eleventh month of positive performance in the last 12.
  • Investors need to go beyond fund level benchmarks to judge the true investment ability of managers and compare apples to apples.

Investors need smarter comparisons to benchmark evolving private equity fund structure performance

Fund level benchmarks that institutional investors have relied on to evaluate private equity managers and opportunities no longer provide a complete picture, according to Cambridge Associates.
  • Many of the respondents believe corporate defaults will stem from the energy and commodities sectors.

Investors shy away from distressed debt and expect an increase in US debt defaults in 2017

Investors are showing less enthusiasm to increase capital allocations to the distressed debt sector, according to Cortland Capital Market Services and Debtwire’s North American Distressed Debt Outlook 2017.
  • There is a clear trend: institutional investors to make significant shifts to less liquid assets as they increasingly consider high yielding, non-traditional asset classes.

Investors gaining risk appetite as they desert cash and go for real assets

Large institutional investors are expected to put cash to work in 2017, according to a BlackRock survey.
  • Equity hedge strategies led industry performance, with the HFRI Equity Hedge (Total) Index up 2.1 per cent in January led by strong contributions from growth, technology and healthcare sub-strategies.

Equity hedge strategies lead positive hedge fund performance in January

Hedge funds posted strong gains to begin 2017, led by the performance of equity hedge strategies, the largest area of hedge fund industry investor capital, according to data from HFR.
  • The $450m Man GLG Innovation Equity Alternative fund seeks out companies within sectors that are particularly susceptible to change and innovation.

Man GLG launches global long/short fund dedicated to sectors vulnerable to innovation and change

GLG, the discretionary hedge fund management arm of Man Group, has launched GLG Innovation Equity Alternative.
  • The poll found that foundations and endowments are positive on private equity with 42 per cent planning to increase their exposure to private equity this year.

Endowments and foundations bullish on US economic outlook

Endowments and Foundations gave the US economy a big vote of confidence in a fourth quarter 2016 poll by NEPC.
  • This transaction will create one of the largest firms in the liquid alternatives industry, with over $30bn of assets under management (AUM) or advisement.

KKR and Paamco combo results in Paamco Prisma liquid alternatives investment company

KKR and Pacific Alternative Asset Management Company Paamco) have entered into a strategic transaction to create a liquid alternatives investment firm, combining Paamco and KKR Prisma.