West Palm Beach (HedgeCo.net) – Pure Capital Limited, a quantitatively-driven hedge fund specializing in “targeted non-correlation” saw strong performance from their “Pure Bespoke” customized portfolio solutions in October – with client account performance ranging from +4% to +10% for the month.

Pure Capital’s year-to-date average performance across all products was +26% at month-end October 2008. Medium term correlation coefficients ranged from -0.15 to -0.80.

"We have a range of quantitative techniques through which we both deconstruct and analyze portfolio performance." Anthony Limbrick, Pure Capital’s Chief Investment Officer said, "Once portfolio performance drivers have been specified, customized portfolio solutions are built using a series of proprietary building blocks, each of which is designed to address specific types of pay-offs".

In September the Paris-based EDHEC Risk and Asset Management Research Centre published a report on overlay hedging in fund of funds. The report, authored by David E. Kuenzi, Remy Chaudhuri and Zhihui Dong of Glenwood Capital investments concluded that “a hedging capability removes a significant constraint from FoFs” and “should have the net result of improving alpha, allowing for more unique and idiosyncratic portfolios, and for more creative structured products”.

Limbrick highlighted the benefits to a European fund of fund of implementing a Pure Bespoke solution – “if one were to use the Eurekahedge European fund of funds index as a fund of fund proxy, our Pure European BetaMatch program could have reduced fund of fund losses from almost 19% year-to-date to less than 1%. Not only would performance have been improved, but there would have also been more cash available for redemption needs. We also give our clients the choice of upside beta exposure if they require it”.

In response to a question regarding the type of client exposures hedged by the Pure Capital, Limbrick said the Pure Bespoke portfolio solutions typically address “pervasive equity beta exposures or potential gap risk issues but we do look forward to widening the approach to address a range of more exotic or dynamic exposures”.

Alex Akesson

Tags: advisory-services, bond-trading, boston, current-value, due-diligence-service, million-21, prison-term

West Palm Beach (HedgeCo.net) - OTC Valuations Limited, provider of independent derivatives valuation and risk reports for illiquid and hard-to-value securities, structured products, and exotic derivatives, has strengthened its team with the appointment of Dr. Paul Bergbusch to lead the organization’s technology function.

Paul comes to the OTC Val team from BlueCrest Capital Management, one of the largest hedge funds in Europe, he joins OTC Val as Chief Technology Officer, and will lead the effort to introduce the next generation of solutions further expanding the coverage for structured products and exotic derivatives under the OTC Val portfolio.

As an expert in financial derivatives and systems engineering, Dr. Bergbusch brings a wealth of data analysis, derivatives modeling and systems development experience for pricing and processing all derivatives products. He holds a Ph.D. in Experimental Particle Physics from the University of British Columbia.

"Before joining OTC Val I reviewed the market for independent derivatives valuations and realized that structured products and exotic derivatives are not being handled in a transparent and scalable way," Paul Bergbusch said, "The recent market turmoil and the push towards increasing regulation of the derivatives markets highlight the need for independent and transparent pricing."

Bob Sangha, COO, OTC Val, commented, "The fact that Paul joined OTC Val is also a great compliment to our service offering. His deep knowledge of data, models, and systems will enable OTC Val to deliver flexible and responsive solutions."

Alex Akesson

Editor for HedgeCo.Net
Email: alex@hedgeco.net

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!

Tags: bond-trading, boston, due-diligence-service, fellow-shareholders, prison-term

West Palm Beach (HedgeCo.net) – Sidley Austin LLP has added six new members to its Executive Committee, the Committee that exercises general authority over the affairs of the firm, and two new members to its Management Committee, the Committee which governs the firm’s day-to-day activities.

William D. Kerr of Chicago joins as global coordinator of the firm’s Investment Funds, Advisers and Derivatives practice and a partner since 1991. He represents clients in securities and derivatives-related corporate and regulatory matters, including the organization and operation of hedge funds, commodity pools, real estate funds and private equity funds, organization and operation of investment advisers, commodity pool operators and commodity trading advisors, structured products, and derivatives documentation and regulation.

Michael J. Schmidtberger of New York has been a partner since 1993 and a global coordinator of the firm’s Investment Funds, Advisers and Derivatives practice, focuses his practice on securities and futures-related funds and corporate transactions, including related regulatory matters.

Schmidtberger regularly advises and represents clients in domestic and international offerings of hedge funds, fund of funds, public and private commodity pools and structured derivative and principal-protected transactions. Mr. Schmidtberger has also counseled clients in numerous fund restructurings and work-out situations. He is also a member of the firm’s Executive Committee and a member of the Committee on Retention and Promotion of Women.

“All of these partners are extremely talented lawyers and have contributed significantly to the growth and success of the firm,” said Thomas A. Cole, Chair of the Executive Committee.

Also hired are, Edward G. Poplawski, Raymond A. Bonner, Constance Choy and Peter D. Keisler, bringing the current count to 49.

“We are delighted to welcome these lawyers to governance roles so they may continue to serve as leaders of the firm,” said Charles W. Douglas, Chair of the Management Committee.

Sidley Austin LLP is one of the world’s largest full-service law firms, with more than 1800 lawyers practicing in 16 U.S. and international cities, including Beijing, Brussels, Frankfurt, Geneva, Hong Kong, London, Shanghai, Singapore, Sydney and Tokyo.

Alex Akesson

Editor for HedgeCo.Net
Email: alex@hedgeco.net

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!

Tags: advisory-services, assetz, barry-breen, bond-trading, boston, global-investor-network, leadership, lee-robinson, lipper, registered-representatives, time-difference, traditional-investment-portfolios