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New York (HedgeCo.net) – In an industry that is perceived as celebrating the accomplishments of males, it is often overlooked how many successful women are working in key roles with funds, investors and service providers.
This survey of 50 Leading Women in Hedge Funds 2011, sponsored by Ernst & Young LLP, shows how women are making an increasing contribution to the industry’s development and success.
This is shown in portfolio management, operations leadership and high quality service provision. Traditionally hedge fund businesses have been male dominated. But for women, the hedge fund industry does offer scope for optimism.Its appetite for innovation and the relative youth of hedge fund employees means change is a constant.
In early 2010 just 3% of global hedge fund assets of $1.5 trillion were estimated to be managed by women. Today we think that estimate greatly understates the true and growing extent of women’s role in hedge funds. Now with assets up to $2 trillion the amount of money women are running is at least $100 billion (including allocators),based solely on the 30 portfolio managers included in the 2011 survey.
Using a wider definition of “running” a hedge fund to include the crucial chief operating officer role, nine COOs identified in the survey have responsibility for over $100 billion of assets. In sum, that means members of 50 Leading Women in Hedge Funds 2011 have responsibility for over $200 billion or 10% of industry assets.
In compiling the survey, data and opinions were gathered from interviews with industry participants, both men and women, based in Asia, the US and Europe.
“The 50 Leading Women in Hedge Funds 2011 survey is not exhaustive but it definitely shows the role of women in hedge funds is expanding,” said Bill McIntosh, Editor of The Hedge Fund Journal.”This is an industry that is innovative and changing rapidly, in short, an ideal environment for talented women to tap new opportunities.”
“We are proud to sponsor the 50 Leading Women in Hedge Funds 2011 survey as it reflects both our commitment to the hedge fund industry and our support for ensuring that women have the opportunity to fulfil their potential.” said Art Tully, partner and Co-leader of Ernst & Young LLP’s Global Hedge Fund Practice.
Michael Serota, partner and Global Hedge Fund Practice Co-leader – Tax, Ernst & Young LLP added, “Ernst & Young LLP is committed to promoting women’s leadership and success. We congratulate the women that made the list this year, and we look forward to working with them and their colleagues for many years to come.”
New York (HedgeCo.net) – Hedge fund service provider, BNY Mellon Alternative Investment Services (AIS), has topped $400 billion in assets under administration, making it the second largest provider of solutions to hedge funds, funds of hedge funds, and private equity investments globally.
“Alternative asset service providers will increasingly be looked upon to provide both the alternative solutions as well as the transparency managers want,” Brian Ruane, BNY Mellon chief executive officer of Alternative and Broker-Dealer Services, said. “Reaching this milestone is an achievement in itself, but the way in which we’ve grown our business globally attests to our ability to meet client needs in an evolutionary phase for the industry.”
BNY Mellon AIS has doubled its alternative assets under administration since 2008, fueled by increased market share and its acquisition of PNC’s Global Investment Servicing business last July. AIS is custodian for more than $120 billion in hedge fund assets, in addition to the over $400 billion it currently administers.
Ruane noted global macro hedge funds and those offering exposure to commodities, distressed debt, or requiring ‘prime custody’ services, are among the fastest growing segments of the global hedge fund services business. “We expect these trends to hold steady in 2011,” he added.
New York (HedgeCo.net) – HedgeCo listed Robust Methods’ hedge fund portfolio returned 4.04% net of fees in April. Profits came from the commodities and energy sectors mainly.
Inflation indexes continue to point upwards and are now forcing policy-makers to publicly admit that the risk of inflation far outweighs the pre-supposed deflationary scenario they had been operating under. The fact that there is no credible or feasible plan to withdraw the enormous liquidity now in the system is problematic.
“The volatility in the equity markets is uncomfortably low while the bond market is increasingly dependent on debt monetization.” Karim Taleb, financial analyst at Robust said, ”Such an assessment carries massive uncertainties with potentially pivotal externalities and consequences. The voice of wisdom was clearly raised by the precious metals in April.”
Robust Methods LLC is an NFA registered & member firm.
New York (HedgeCo.net) – Financial News has announced it’s first listing of the 40 under 40 Rising Stars of Hedge Funds, acknowledging the talent of men and women from all corners of the hedge fund industry.
“The list, which was whittled down from a longer list of 100, was drawn up by a panel of four over three months.” Financial News said, Their roles vary, but the 40 names on the list all have in common fierce determination, dedication, dynamism and, of course, youth.”
The list, in alphabetical order, includes:
Shamez Alibhai, partner and head of real estate debt management team at Cheyne Capital (38) Jamie Allsopp, portfolio manager, Insparo Asset Management (33) Reza Amiri, founder of Susa Fund Management (36) Geoff Bamber, chief investment officer, Skyline Capital (29) Daniele Benatoff, co-founder, Benros Capital (31) Jeff Blumberg, chief executive, Egerton Capital (35) Charlotte Burkeman, co-head of European prime brokerage, Bank of America Merrill Lynch (32) Leonard Charlton, portfolio manager, Dalton Strategic Partnership (34) Jean-François Comte, co-president, Lutetia Capital (36) Frederic Couderc, founder, Toro Capital at Chenavari Financial Group (36) Anne-Sophie d’Andlau, co-founder and deputy chief executive, CIAM (38) Django Davidson, partner, Algebris Investments (31) Frederic Denjoy, founder, Denjoy Capital Partners (33) Pedro de Noronha, founder, Noster Capital (34) Dominic Freemantle, head of European prime brokerage sales and capital introductions, Morgan Stanley (35) Lisa Fridman, head of European manager research, Paamco (31) James Hanbury, portfolio manager, Odey Asset Management (31) Ali Hedayat, partner, Edoma Partners (36) Jeff Holland, founder, Liongate Capital Management (36) Alexander Ivanovitch, managing partner, The Environmental Investment Partnership (34) Mark Jones, chief operating officer, GLG (31) Andre Konstantinow, head of manager selection, Barclays UK Retirement Fund (34) Damien Loveday, global head of hedge fund research, Towers Watson (34) Simone Lowe, fund manager, Thames River (29) Jerome Lussan, founder, Laven Partners (38) Tommaso Mancuso, partner and head of research, Hermes BPK Partners (34) Lionel Melka, founder and head of research, Bernheim, Dreyfus & Co (34) Henrik Molin, head of development, Frey Quantitative Strategies (35) Gideon Nieuwoudt, portfolio manager and member of the investment committee, Silver Creek (35) Emily Porter, portfolio manager, absolute return strategies, Universities Superannuation Scheme (32) Stephen Rosen, senior portfolio manager, Omni Partners (35) Ariel Roskis, co-founder, Benros Capital (35) Fabrice Seiman, co-president, Lutetia Capital (32) Edgar Senior, global co-head of capital services, Credit Suisse (35) Robert Sorrell, founder, Sorrell Capital (36) Nick Stukas, managing partner, Nightscape Capital (32) Ross Turner, founder, Pelham Capital (34); Alex Vaskevitch, fund manager, BCM & Partners (31) Tim West, partner, Herbert Smith (33) Guy Wolf, partner, Oxburgh Partners (34)
The criteria for the award was achievement to date given their age, the stature of their mentors, firepower at their disposal and their potential to reach a position of great influence.
New York (HedgeCo.net) – Black Diamond Capital Management, LLC., a Connecticut hedge fund management firm with over $6 billion in assets under management, has raised $800 million for the BDCM Opportunity Fund III, LP., a fund focused on the same distressed/private equity strategy as Black Diamond’s 2003 vintage fund.
“I am extremely pleased with the continued support we have received from our existing investor base and am honored that so many of them have chosen to invest in Fund III.” Stephen Deckoff, Managing Principal of Black Diamond Capital Management said. “Our enduring relationships and the strength of this fundraise, in a difficult environment, are a testament to the experience, and passion of the Black Diamond team.”
Fund III will work to strategically deploy capital, with the goal of gaining control of attractive companies primarily through the purchase and subsequent restructuring of debt securities. “In doing so,” Black Diamond said, (we seek) “to acquire middle-market companies that possess strategic assets and are market leaders in their respective industry sectors.”
New York (HedgeCo.net) – 100 Women in Hedge Funds (100WHF), has named Blackstone Group co-founder, Peter G. Peterson as the recipient of its 2011 Effecting Change Award to be presented at the annual New York Gala to be held at Cipriani 42nd Street on November 16, 2011.
Peterson, who is also Chairman Emeritus and Founder of the Peter G. Peterson Foundation, will be presented this award in recognition of his work as an active philanthropist. He has pledged $1 billion to his Foundation, which works to increase public awareness of the nature and urgency of key long-term fiscal challenges threatening America’s future and to accelerate action on them.
Past U.S. Effecting Change honorees include Hillary Rodham Clinton, George Soros , Ray Chambers, Gary Cohn, Carl Icahn, Julian Robertson, Robert Rubin, Governor Jon Corzine, Jessica Palmer, Ken Langone, Joel Klein and T. Boone Pickens.
New York (HedgeCo.net) – Commodities are going through their most uncertain period in a long time according to Swiss hedge fund manager MRI Gardner AG .The tragic events in Japan have added questions to a unclear outlook. While there is much talk of government-controlled slowing down of the Chinese economy, and a brighter picture for the USA and hence the dollar, commodity prices have been quite resilient.
“Our launch of the MRI Gardner Absolute Return Commodities Portfolio has proved to be a success despite the volatility around the tragic events in Japan whose effects were felt particularly through most of our intra – month performance.” Mirko Bischofsberger, CEO, said. “Setting off at a very confident 5.6% in the initial two weeks of the launch and then maneuvering through the events in Japan in the most conservative way, the MRI Gardner Return Commodities Portfolio has managed to preserve a highly upbeat performance of 2.12% after its first full month.”
“Overall, the continued expansion in the developing countries, the recovery in the USA and the general supply constraints across the commodities underpins the picture in a fast-changing world.” Bischofsberger concluded.
New York (HedgeCo.net) – Over 200 guests attended the 2011 HedgeCo Spring Networking Event on the evening of the 22nd. Celebrating the end of winter, there was food, drink and networking with other members of the alternative investment community.
“I enjoyed everything about the HedgeCo spring networking event.” Craig S. Aronoff, Managing Member at Victor Securities said, “You chose the perfect location, and had a very impressive turn out! The attendee list had a perfect mix of funds, allocators and service providers.”
A mix of investors, hedge fund managers, and other industry professionals came together at the Aspen Social Club in New York to enjoy a night of sharing ideas and meeting new contacts.
Recognized as having the largest attendance for any type of event in the hedge fund industry, the HedgeCo Networking Events have quickly become the top destination for generating new business and meeting new industry contacts.
The HedgeCo Spring Networking Event event was sponsored by American Airlines.
New York (HedgeCo.net) – Global application software and services company Misys plc., today has won the leading single technology platform award at the Hedge Fund Journal Awards.
Misys Sophis VALUE was recognised by the publication for its complete cross-asset coverage integrated into a single front-to-back solution.
“We are very proud to win this award and to be recognised for the products that we provide to the hedge fund industry,” said Pascal Xatart, EVP and CEO, Misys Sophis. “2010 was a great year for our company, with six new European hedge fund customers selecting our products among 21 new buy-side customers worldwide. And with the recent launch of the latest version of VALUE, version 4.1, we look forward to a successful 2011 and to continuing to improve on the products we offer to the buy-side industry.”
The winners are chosen by a select group from The Hedge Fund Journal and Misys Sophis VALUE was chosen as the winner in the Leading Single Technology Platform (Portfolio, Trading and Risk Management) category because of its strength at delivering a cross-asset single technology platform that covers the portfolio, trading and risk management disciplines.
New York (HedgeCo.net) – Boston-based hedge fund and alternative asset manager, GMB Capital Management, LLC., has changed its name to ClearStream Investments, LLC (ClearStream). Simultaneously, the firm announced the broadening of its executive management team, to include Rohit Vohra as newly appointed CEO, and relocation to new corporate headquarters in Boston.
“ClearStream Investments is committed to furthering the principal objectives of investment success that have been the hallmarks of our firm since its founding,” said Dr. Gabriel Bitran, the firm’s Founder and Chief Investment Officer. “We are excited to announce the appointment of Rohit Vohra as our Chief Executive Officer. He brings over 10 years of institutional wealth management experience to ClearStream, and is a wonderful addition to our team. Rohit has a vision for ClearStream, centered around the transparency of our strategy and liquidity of our product offerings, that will lead us into the next phase of growth and the broadening of our franchise.”
Joining Vohra and Dr. Bitran as ClearStream executives are Marco Bitran, portfolio manager, and Dr. Shioulin Sam, Director of Quantitative Research.
“The ClearStream name highlights the firm’s commitment to offering our strategies through transparent and liquid managed accounts, which we believe are highly preferable to the end investor, vs. other less transparent structures. We hope to remain at the forefront of the industry in this regard,” said Marco Bitran.
Founded in 2005 by Gabriel Bitran, and joined shortly thereafter by his son Marco, ClearStream built its reputation and asset base through the application of Optimal Pricing principles to investment management. ClearStream’s models attempt to predict the supply and demand balance across global markets, using US-listed ETFs, and are not dependent on fundamental data used in traditional methods to value equity, fixed income and other asset classes. The firm’s quantitative models scour world markets searching for pricing anomalies that predict the directionality of the securities in which ClearStream invests. The firm currently manages approximately $550 million in assets.
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New York (HedgeCo.net) – Combined alternative assets under administration (AUA), covering hedge funds, fund of funds, and private equity have risen to $4.82 trillion, according to new Opalesque research. Single manager hedge fund AUA increased 19.7% to $2.98 trillion, and fund of funds asset levels increased 3.2% to $1.02 trillion, while private equity assets fell 16.6% to $846.9 billion.
Top Ten Hedge Fund Administrators:
#1. Citco Fund Services, with assets under administration (AUA) of: $468.00 billion
The research determines that the fund administration industry experienced 7.4% rise in assets under administration (HF, FoHF, PE). Largest asset gains stem from single manager hedge fund clients, which rose to $2.98tln (a gain of 19.7%), followed by fund of hedge funds, which gained $31bn (a gain of 3.2%)
New York (HedgeCo.net) – 100 Women in Hedge Funds (100WHF) announced the launch of its year-long 10th anniversary celebration with events at several of the world’s leading stock exchanges.
Today, January 24th, 100WHF members will gather in New York, London, Zurich, Chicago, and Toronto to commemorate 10 years of making a difference in the alternatives community through unique educational programming, professional leverage initiatives and philanthropic endeavors.
“I am extremely proud of our accomplishments over the last 10 years, most notably the growth of our membership, the hundreds of educational events we’ve hosted, and the more than $20 million we’ve raised for charitable organizations across the globe.” Anne Popkin, Chair of the Board of 100WHF, said, “I am thrilled that our members all over the world are connected today in honor of such a momentous occasion.”
Since its formation in 2001, 100WHF has evolved from a small network of finance professionals into an organization with 10,000 members offering programs across 14 locations worldwide. All of 100WHF’s endeavors are aimed at supporting its three core pillars of Education, Professional Leverage, and Philanthropy, and recognizing leaders in the hedge funds industry. Each year, 100WHF presents its “Effecting Change” and “Industry Leadership” awards to individuals who, through their philanthropy and professional talent, have been role models in the alternatives space.
The events will commence with the ringing of the opening bell at the SIX Swiss Stock Exchange, in Zurich, followed by the London Stock Exchange, Toronto Stock Exchange and Chicago Stock Exchange, and will end with the ringing of the closing bell at the New York Stock Exchange.
New York (HedgeCo.net) – In an industry that is perceived as celebrating the accomplishments of males, it is often overlooked how many successful women are working in key roles with funds, investors and service providers.
