Each business day HedgeCo.Net keeps you informed with the top hedge fund industry news, opinion and insight from around the globe. From the latest hedge fund launches, to the impact of regulation, competition, and investor activism - we track the topics and people that make a difference to you.
HedgeCo.net (West Palm Beach) – Hedge fund performance specialist Alternative-Index Ltd., fully owned by hedge fund manager, Salus Alpha Group AG, reported that the Relative Value Index (RVX) is the top performing Alternative Investment Indices (AI-Index) in June 2009 with a month-to-date performance of +0.52% listed on the Vienna Stock Exchange.
The RVX outperformed the German equity index for the month to date by +1.49%.
The Relative Value Index is an investable benchmark of the performance of the Alternative Investment Sub-Strategies Fixed Income Arbitrage, Long/Short Credit and Convertible Bond Arbitrage.
The Alternative Investment Indices target to offer investors an unbiased reference of the performance of alternative asset classes. Daily index prices are calculated by the Vienna Stock Exchange, and are also available via Reuters, Bloomberg and other data terminals.
Salus Alpha Group AG is a Swiss Alternative Investment expert and manages capital for institutional clients and High Net Worth Individuals since 2002. The Group was the first Asset Manager worldwide to introduce a synthetic fund of hedge funds as a UCITS fund in 2003.
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
West Palm Beach (HedgeCo.net) – Vienna based hedge fund manager Salus Alpha Group Services GmbH has been awarded the alternative investments award of geld-magazins for extraordinary good performance for their Salus Alpha Directional Markets UCITS III Funds.
The Swedish state pension platform, Premium Pension Authority, recently included Salus Alpha funds in its portfolio. Included on the platform are Salus Alpha Real Estate, multi manager funds Salus Alpha Event Driven, Salus Alpha Managed Futures and Salus Alpha Equity Hedged.
The Salus Alpha funds that were chosen are UCITS III compliant, and meet the strict requirements regarding transparency, daily liquidity and adequate administration procedures set up for hedge funds by the Swedish pension authority.
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
Bloomberg – Credit Suisse Group AG, Switzerland’s second-biggest bank, bought New York-based Asset Management Finance Corp. for $384 million to provide financing to investment firms.
Credit Suisse paid stock for more than 80 percent of the firm, founded by former Putnam Investments chief Norton Reamer in 2003, from a unit of National Bank of Canada. Reamer, 72, who also ran Boston-based United Asset Management Corp., will stay on, the bank said today in a statement.
AMF, which provides capital to money managers in exchange for a slice of revenue, will benefit from Credit Suisse’s global reach, said Brian Finn, chairman of the Zurich-based company’s alternative-asset business. The unit, which manages $167 billion, holds a minority stake in hedge-fund firm Ospraie Management LLC and has started joint investing ventures with Abu Dhabi and General Electric Co.
AMF “is a platform with a leadership team and an investment approach in which we see enormous growth opportunities,” Finn said in an interview.
Reamer targets independent money managers looking to expand or buy out a founder who wants to retire. In exchange for up- front cash, it gets a share of future revenue. It doesn’t acquire an ownership stake.
