LONDON, Oct 17 (Reuters) – Schroders’ head of global
macro Bob Jolly is betting against German government bonds
because he believes investors are treating them as too much of a
safe haven and yields could rise whether or not the euro zone
resolves its debt crisis.
Jolly, whose fixed income team manages $15 billion in
assets, put on short positions – bets on the price going down -
across a range of German bond maturities at the start of
October, when his GAIA Global Macro Bond fund was launched.
LONDON (Reuters) – Brevan Howard, one of the world’s top hedge fund firms which three years ago moved its main office to lower-tax Geneva, is back hunting for a new home in London amid signs some traders are missing the city’s buzzing nightlife.
Brevan, headed by co-founder Alan Howard and which manages $37 billion in assets, is considering taking more than half the office space in a 65,000 square feet development at 7-8 St James’s Square in the heart of London’s plush hedge fund district, three property agents told Reuters.
LONDON (Reuters) – Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) and Credit Suisse (CSGN.VX: Quote, Profile, Research, Stock Buzz) have emerged from the financial crisis as the biggest suppliers of brokerage services to the embattled hedge fund industry, a new study showed on Tuesday.
The inaugural global survey by data group Hedge Fund Intelligence covers more than $1.6 trillion of assets – the bulk of the hedge fund industry – and names Goldman as the leading “prime broker” with more than 900 mandates and $222.6 billion of assets.
LONDON (Reuters) – Hedge funds who have tried to make money out of European banks during the euro debt crisis are becoming frustrated with the sector’s erratic movements just as some bigger, and more patient, institutions are dipping tentatively back in.
European bank stocks have risen more than 25 percent since late July, fuelled by relief over new crisis-fighting plans, in particular the ECB’s latest announcements which have triggered hopes of a more lasting solution.
LONDON, Sept 14 (Reuters) – Hedge funds are betting that
commodities trader Glencore will succeed in its battle
for miner Xstrata, in a long-running deal that has been
profitable for arbitrageurs and is still attracting funds
looking to make money.
Arbs, hungry for action after a lean period for M&A, have
been buzzing around the deal for months, attracted by its size,
liquidity and complexity, and many profited from last week’s
move by Glencore to sweeten its now 23 billion pound ($37
billion) all-share bid.
LONDON, Sept 14 (Reuters) – British hedge fund firm Polygon
has launched a mining fund, a source close to the fund said, as
it tries to rebuild its business after high-profile losses
during the credit crisis and profit from a sector some investors
believe may have peaked.
The mining fund was launched quietly during the summer with
internal seed capital, said the source, and will make bets on
the shares of mining companies rising and falling.
LONDON (Reuters) – Hedge funds racked up further gains in August, helped by rising stock markets, low volatility and the relative absence of major political shocks in the euro zone, whose debt crisis has proved so hard to handle for managers in recent years.
The SS&C GlobeOp Hedge Fund Performance Index, which tracks the performance of the majority of hedge fund services provider GlobeOp’s $187 billion in assets administered, rose 0.83 percent in August, taking returns so far this year to 6.76 percent, the firm said in a statement.
LONDON, Sept 13 (Reuters) – Hedge funds racked up further
gains in August, helped by rising stock markets, low volatility
and the relative absence of major political shocks in the euro
zone, whose debt crisis has proved so hard to handle for
managers in recent years.
The SS&C GlobeOp Hedge Fund Performance Index, which tracks
the performance of the majority of hedge fund services provider
GlobeOp’s $187 billion in assets administered, rose 0.83 percent
in August, taking returns so far this year to 6.76 percent, the
firm said in a statement.
LONDON, Sept 7 (Reuters) – Man Group has hired
Pimco’s former global head of portfolio management Sudi
Mariappa, as the embattled hedge fund firm looks to revive its
fortunes and win back clients with a major push into bond funds.
Mariappa, who was at Pimco, the world’s largest bond fund
manager, from 2000 to 2010 and who worked with high-profile
founder Bill Gross on its hedge funds, will head up the launch
of a series of bond funds at Man’s manager-driven GLG unit.
LONDON (Reuters) – Man is overriding machine in the computer hedge fund industry, with some managers no longer ready to accept “black box” trading strategies blindly as government bond yields in the likes of the United States and Germany hit ultra low levels.
Man Group’s AHL, one of the world’s biggest funds, has built a new computer model to cap its exposure to bond futures for fear of big losses, should the market reverse abruptly, and others are likely to follow.