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West Palm Beach (HedgeCo.net) – Fund of hedge funds Lighthouse Partners announced that it is expanding its partnership with GlobeOp Financial Services to a full-service fund administration relationship.
More than 20 professionals from the Lighthouse operations team in Florida will work jointly with approximately 85 GlobeOp counterparts in Connecticut, New York State and Mumbai, India to deliver “around the clock” post-trade processing for more than 60 managed accounts and five funds.
"During the past three and half years Lighthouse has strategically converted from the standard fund of fund model to a managed account model that we believe will be the future of hedge fund investing," said Sean McGould, Lighthouse president and co-chief investment officer. "Our team has developed strong portfolio and risk management skills over the last 15 years. Combining that expertise with managed account investing is already providing the increased transparency and risk reporting required by institutional investors."
Rob Swan added that the long-term, continued growth of the Lighthouse program required an established partner to effectively handle post-trade processing, administration and reporting. "Underlying Lighthouse managers already greatly benefit from the integration with GlobeOp’s comprehensive, web-based middle-and back-office trade processing services. This partnership also provides our fund managers and investors with the increased independence, timeliness and transparency they require."
Founded in June 1999, Lighthouse Partners is a fund of hedge funds with more than $6 billion in assets under management, over 65 employees and offices in Palm Beach Gardens, Chicago, New York, London and Hong Kong. Lighthouse manages multi-strategy fund of funds along with a stable of focused funds across Credit, Global Equity Long/Short, and Managed Futures. Currently, Lighthouse also has over 60 managed accounts and five funds that are structured wholly in managed accounts.
Alex Akesson
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Times Online – Who would be in hedge funds right now? Man Group, which has long traded on its name as the world’s largest hedge fund manager, yesterday found the tag something of a liability.
The shares lost 35½p to 398p before a trading update next Monday, making a 46 per cent fall in six weeks, with analysts saying that it is heavily exposed to the whole hedge fund industry through its fund of funds portfolio. Barclays’ index of hedge fund performance shows a 5.6 per cent fall in the year so far to the end of August. Hedgies relied on high borrowing to generate high returns. Most are now being forced to sell positions to cut debt.
Meanwhile, there are growing question marks over Man’s flagship AHL managed futures fund, as its performance has slipped in the past quarter and the short-selling ban may have an impact on its strategy. Man itself is still available to be shorted.
Investec, which cut its target price from 650p to 460p, said: “The hedge fund industry looks set for further negative press, possibly impacting on short-term fund flows at Man, as well as its near-term share price performance.” Kaupthing cut its earnings forecast but held its 630p target pointing out that the AHL fund was still up 3 to 4 per cent in the year so far.
West Palm Beach (HedgeCo.net) - Research and Markets has announced the addition of the "The Barclay Managed Funds Report" subscription to their offering.
Published quarterly, for the last 17 years, the Barclay Managed Funds Report provides industry professionals with information on the most relevant industry trends and performance rankings for the managed futures (CTA) and hedge funds investment industries. The first published in 1991, this newsletter contains 24 hedge fund and managed futures performance ranking tables, in-depth manager profiles, and roundtable discussions on topics of current interest for hedge fund investors and professionals.
The Fund Review article is an in-depth manager profile, which explores the performance history and management approach of a fund or program. This article delves into the fund or programs’, key short-term and long-term strategic approaches, its risk management system, a comparison of its peer group, and outlook. Account information, performance analysis, correlations and past returns are also highlighted.
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West Palm Beach (HedgeCo.net) – Archer Financial Services (AFS), has launched Balarie Capital Management ("BCM"), a division of AFS created with the specific purpose of helping Institutional and High Net Worth investors achieve diversification by providing them with products and services that are typically non-correlated with their traditional investment portfolios.
AFS, an Introducing Broker, is wholly owned by ADM Investor Services, Inc. The brokerage also announced the appointment of Emanuel Balarie as managing director of the division.
"Mr. Balarie brings on board industry expertise in both the commodities and managed futures arena" said Kurt Johnson, President of AFS. "The combination of his experience, BCM’s consultative approach to managed futures investments, access to hundreds of Commodity Trading Advisors all over the globe, and the financial integrity and operational structure of ADMIS will allow us to provide investors with a wide array of products and services."
Emanuel Balarie added, "While the asset flow in the managed futures sector has increased significantly over the last several years, we still feel that there is a need for a firm that is able to provide a consultative approach to managed futures portfolios. The goal is not to recommend cookie-cutter type portfolios for every investor, but to look at the investor’s individual profile and portfolio to determine the specific allocation that is most appropriate for the investor. This approach is especially attractive to institutions and investors that have to meet specific portfolio requirements."
BCM works with high-net worth investors, family offices, pensions, and endowment funds who are interested in adding managed futures to their investment portfolios. In addition, Balarie, through its affiliation with ADMIS, offers clearing and execution services for Commodity Trading Advisors, Fund of Funds, and professional traders.
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