The world's wealthiest private investors are planning to put more money into alternative investments over the next three years, a report says.
The study said the global rich are increasingly attracted by private equity schemes and hedge funds as they offer more stable returns than shares.
NEW YORK, April 18, 2007 – Victoria Bay Asset Management, LLC and the American Stock Exchange® (Amex®) announced today the launch of the United States Natural Gas Fund, LP (UNG), an exchange traded security based on natural gas, which will list on the Amex under the ticker “UNG.”
Shield Plus LLC, a #1 ranked institutional investment adviser, registered as a CTA/CPO, is launching the Shield Plus 90, LP -- Alternative Energy & Inflation Fund. This Fund enables institutions and other accredited investors to participate directly in the alternative energy and inflation-related markets through a market-neutral investment approach.
If you go to Amazon.com and search for books about venture capital, you get 14,114 responses, which includes many text books. Andrew Metrick, a professor of finance at Wharton, has just written a new book on the subject -- titled, Venture Capital and the Finance of Innovation. Unlike the thousands of other books on the subject, though, this book offers a different approach, especially in areas such as valuing startup companies and IPOs, by bridging the gap between finance fundamentals and venture capital practice. Knowledge@Wharton spoke to him about his new book and also about hedge funds, which are in the news almost every day.
JPMorgan Funds, the U.S. mutual fund business of JPMorgan Asset Management, today launched three new international mutual funds: JPMorgan China Region Fund, JPMorgan Latin America Fund and JPMorgan Russia Fund.
"JPMorgan Asset Management has a vast global investment team, with experienced investors entrenched in markets around the world," said George Gatch, President and CEO of JPMorgan Funds. "We are bringing this global insight and expertise to U.S. investors through new international mutual funds that seek to capitalize on our depth of knowledge and years of experience in these regions."
Continue reading "JPMorgan Launches Three New International Funds" »
The Ivy Funds ranked among the fastest growing mutual fund families in 2006, according to a recent study released by Financial Research Corporation (FRC). The Ivy Funds, with a 68 percent increase in assets under management in 2006, ranked fourth in terms of asset growth over the year among all firms with assets of $5 billion or greater. The 68 percent increase well outpaces the average growth rate during the period of 17 percent for firms of similar size, according to FRC.
Continue reading "Ivy Funds One of Fastest Growing Fund Families" »
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Several new ETFs were introduced that enhance the ability of investors to join in the commodities game. While many of them including the oil, gold, and silver ETF (DBO, DBS, DGL) are improvements on previous funds, the DBA fund is the first that allows investors to get involved in the agricultural commodities - perhaps the best value left in the natural resources arena.
Company's Funds Post Top-Tier Returns in Quarter, Year and 5-Year Periods
SAN ANTONIO--(BUSINESS WIRE)--Three funds managed by U.S. Global Investors, Inc. (Nasdaq:GROW) are among the best-performing mutual funds for the fourth quarter of 2006, according to rankings published today in the Wall Street Journal.
Continue reading "U.S. Global Investors Continues Performance Leadership" »
New Uses for Hedge Funds and Record Levels of Private Equity Buyouts Drove Market
GEORGE TOWN, Grand Cayman, Jan. 4 /PRNewswire/ -- As we begin 2007, 2006 can be summed up in a single word, "more," according to Walkers, the global offshore law firm of choice for fund managers, corporations, financial institutions, and international law firms. The market saw more hedge funds and private equity funds involved in takeovers and buyouts, more varied use of alternative investment vehicles, and more investment activity in emerging markets last year.
Continue reading "2006 Was a Banner Year for Offshore Finance" »
Lipper Fitzrovia’s latest research reveals that US$154.2 billion (GBP83.4 billion) in 1,159 funds and subfunds were serviced in Jersey, as at 30 June 2006, an increase of 94% over five years - up from US$79.6 billion (GBP56.6 billion) as at 30 June 2001.
Looking solely at funds domiciled on the Island, the largest asset classes are property/real estate funds (with total net assets of US$43.6 billion, representing over 38% of the total for domiciled funds’ assets) and private equity/venture capital funds (US$26.5 billion – 23% of the total).
Continue reading "Jersey's Fund Sector Doubles In 5 Years" »
BALTIMORE, Nov. 29 /PRNewswire-FirstCall/ -- T. Rowe Price today announced it has won a U.S. equity mandate from the National Council for Social Security Fund (SSF) of the People's Republic of China. This is the first time that the SSF has partnered with non-Chinese investment managers and marks the initial step into investing offshore.
Placing three analysts a piece, T. Rowe Price ($294 billion in assets under management) and Wellington Management Company ($544 billion) lead Institutional Investor's 2006 The Best of the Buy Side, a ranking of the industry's top buy-side analysts as voted by 470 sell-side analysts from 80 firms.
Titan Commodities Management, Ltd. offers privately managed accounts to accredited investors with the ability to earn an annualized minimum of 20% return before management is eligible for success-based commissions. The primary objective of Titan Commodities Management, Ltd. (“Titan”) is to generate a realized profit of 2% per month for its clients by utilizing Titan’s proprietary trading system in the foreign exchange market.
Favorite Vehicle of Japanese Investors Expands to New Markets, Says Walkers
GEORGE TOWN, Grand Cayman, Oct. 31 /PRNewswire/ -- Walkers, the global offshore law firm of choice for investment managers, financial organizations, and international law firms, said today that hedge fund managers are increasing their use of unit trusts in structuring hedge funds. While these vehicles have been favoured by Japanese investors for years, fund managers in other markets are now incorporating them into new funds to attract Asian investors.
Continue reading "Hedge Funds Increase Use of Unit Trusts" »
As ETFs become more ingrained into the financial sphere, investors and managers are becoming more creative about how to deploy their capital. Recently, in London, Commodity ETFs were released, allowing an investor to purchase futures contracts in a particular commodity as if it were nothing more than a stock.
Price Meadows Incorporated, a boutique hedge fund administrator serving approximately 200 domestic and offshore funds, has been ranked by Institutional Investor’s Alpha magazine as one of the industry’s top fund administrators. The firm was ranked #3 in the category of client service, #4 in fund accounting, and #5 in overall excellence.
Just a few weeks ago, the Amaranth hedge fund flew investors in to gloat about its incredible year to date performance. Their 30% gain since January had beaten the stock market hands down and energy trader Brian Hunter was being hailed as a market guru.
In a clear sign that United Kingdom tax authorities are keen to crack down on the tax practices of high-rolling hedge funds, GLG Partners Services Ltd., a Cayman Islands entity that distributes hedge funds run by GLG Partners LP, has settled a probe by British tax officials.
Continue reading "British Tax Police Look Hard at Hedge Funds"
The SEC estimates there are 8,800 hedge funds operating in the US but, because they are usually incorporated offshore, it is impossible to be certain. Last month an appeal court threw out a rule requiring funds with more than 15 clients, or $30m, to register with the regulator. Ruling on a lawsuit brought by Philip Goldstein, the manager of the hedge fund Opportunity Partners, the court said the requirement was arbitrary.
Continue reading " SEC calls for tighter rules on hedge funds"
The Cayman Islands Monetary Authority (CIMA) announced this week that the islands' hedge fund sector is continuing to boom, with an additional 665 funds having registered in the first five months of the year.
NEW YORK, June 20 (Reuters) - Some 665 hedge funds established a presence in the Cayman Islands in the first five months of 2006, a pace that could put the offshore banking center on track for another record year in registrations in 2006, Cayman officials said Tuesday.
Continue reading "Cayman hedge industry on track for record growth" »
PITTSBURGH -- Mellon Global Investments, the international distribution subsidiary of Mellon Financial Corporation has announced the launch of the Nikko Mellon GW Select Best Nine Fund* managed by its Japanese business, Mellon Global Investments Japan, and distributed in Japan by Nikko Cordial Securities Inc. This new launch is the largest fund launch Mellon has ever undertaken at an initial aggregate fund size at launch of over $3.0 billion.
Continue reading "Mellon Global Investments Japan Launches $3.0 Billion Fund" »
The Rogers International Raw Materials Fund was designed to replicate the Rogers International Commodities Index (RICI). The Index was developed by James Beeland Rogers, Jr. to be a balanced, long only, representative, international raw materials index. The Index Funds primary objective is to provide an alternative investment vehicle for investors with diversified portfolios.
Continue reading "Rogers International Raw Materials Fund" »
On May 22nd a new metals based Exchange Traded Fund began trading on the Amex (GDX). The new Market Vectors - Gold Miners ETF was launched by the Van Eck Global firm and trades under the ticker symbol GDX.
QUESTION: What are the tax implications for an american citizen of buying exchange traded funds in another currency in an offshore account?
REPLY: According to MSN Money Central, an exchange traded fund (ETF) is essentially an index fund. As such they would be treated as mutual funds by the IRS. Those that are available through U.S. exchanges make it easier for U.S. persons to participate in various foreign funds, without the hassle of actually owning a foreign mutual fund.
Leeward Offshore Canadian Income Fund has launched the Leeward Offshore Income Trust Fund, which will invest solely in Canadian income trusts.
Leeward Hedge Funds Inc (Leeward) has been appointed investment advisor to the new fund, the sixth for which Leeward provides investment advisory services.
The Cayman Islands registered fund will utilize leverage and its objective is to maintain stable, semi-annual cash distributions with capital appreciation.
Continue reading "Leeward launches Offshore Canadian Income Fund" »
India Capital Management Ltd which has a total AUM of US$200M is proud to announce that it has won the "Best Single Country Fund of the Year" at the 2005 AsiaHedge Awards for it's Fund, the India Capital Fund, presented last week on 20th October in Hong Kong. It was also nominated for the same award in 2003.
The AsiaHedge Awards are the longest established and most highly regarded awards that recognise the achievements of the Asian hedge fund industry. The Awards are based on a combination of NAV return, return versus benchmark and Sharp ratio, giving a risk-adjusted return criterion. The India Capital Fund came first out of the 5 other top nominated single country funds, covering regions such as China and Korea.
Continue reading "India Capital Fund wins 2005 Asiahedge award" »
The five gold-backed investment funds already traded around the world could be the tip of the iceberg if investors allocate more of their funds to the metal, an official at the World Gold Council said this week.
"We are just starting to see a transition," Katharine Pulvermacher, head of asset allocation research at the World Gold Council, said.
Continue reading "Private interest could create more gold funds" »
By Barbara Wall -
We all know how important a manager is to the success of a fund, but the poaching of top talent has become so widespread in the asset management industry that it is threatening to undermine investor confidence.
Fund-hopping is an occupational hazard for Robert Burdett, who runs several funds of funds for Credit Suisse Asset Management. But even he said he was alarmed at the extent of the practice.
By Maya Fisher-French -
For Deutsche Bank and the JSE, the launch of Itrix, their range of international exchange traded funds (ETFs), could not have come at a better time amid fierce public debate on fund management fees.
An ETF is a basket of shares that passively tracks an underlying index and is itself listed on a stock exchange. The major selling point is that the costs of investing in an ETF are substantially lower than actively managed funds.
Attracted by the jurisdiction's light tax and regulatory touch, the Cayman Islands authorities are registering almost 35 new funds per week, according to Gary Linford, head of the Investment and Securities Division of the Cayman Islands Monetary Authority.
Speaking at a fund industry seminar in Jamaica last month, Mr Linford noted that the Cayman Islands have become "the domicile of choice" for eight out of ten hedge funds around the globe.
Continue reading "Cayman Islands attracting 35 new Funds per week" »
By Bruce Cameron -
Two new funds will be listed at the JSE Securities Exchange on October 6.
Two new Exchange Traded Funds (ETFs) based on international indices are to be listed on the JSE Securities Exchange in October, opening up cheaper access to foreign markets for individuals and retirement funds.
NEW YORK (CNN/Money) - Mutual fund timing -- the controversial hedge fund strategy which plagued mutual funds and was stamped out by U.S. regulators -- lives on offshore and could eventually come back to the U.S., according to a new report.
In a study titled "Hedge Fund Demand and Capacity," Van Hedge Fund Advisors, a Nashville, Tenn.-based hedge fund advisory firm, found that a small number of non-U.S. funds are still running mutual fund timing strategies. The study's authors also believe it could return to the U.S. once the regulatory drama over the 2003 scandal completely dies down.
Continue reading "Market timing hedge funds are not extinct yet, a new study finds" »
TOKYO (BUSINESS WIRE), Aug 24, 2005 - Barclays Global Investors (BGI), a worldwide leader in exchange traded funds (ETFs) and one of the largest global asset managers, announced today that Japan's Financial Service Agency has received notification of the following ETFs to be sold as offshore investment funds through brokers in Japan:
Continue reading "Barclays Global Investors Offers 7 More Ishares Funds In Japan" »
by Paul Oranika -
WEST PALM BEACH, FL (www.hedgeco.net) - A record number of new hedge funds were created during the first half of 2005, according to Busnesswire reports. Despite the global slowdown in hedge fund returns during the first half of 2005, there was a 13 percent increase in the number of new hedge fund launches compared to the number launched in the first half of 2004.
The Cayman Islands continue to attract significant number of hedge fund firms. According to published reports, about 80 percent of the global hedge funds are registered with the Cayman Islands Monetary Authority. During the first half of 2005, the number of Cayman Islands registered hedge fund operators rose from 5,932 to 6,527.
Continue reading "Record number of new Hedge Funds launched in Cayman Islands" »
By Deborah Brewster -
A growing number of US hedge funds are setting up offshore, especially in Asia, as the maturing industry becomes increasingly global and funds look beyond US borders in a bid to boost waning returns.
Bear Stearns plans to launch a $450m fund investing in hedge funds that specialise in Asian markets, according to several industry members. The fund will allocate more than half the money to Japan, and also target China and India. And last week Tremont Capital, a big fund of funds with $10bn under management, became the latest to say it would open an office in Hong Kong to service its growing market in the Pacific Rim.
Credit Suisse Asset Management (CSAM) is to launch a limited issue fund of funds that invests in new launches, offshore vehicles and unregulated funds.
As a limited issue portfolio the fund launches at the end of July with 75 million units. It can potentially charge more in management fees than the 4% initial and 1.5% annual levied on the firm's other multi-manager offerings. However, it is not intending to incorporate a performance fee structure.
Continue reading "Credit Suisse Asset Management launches Fund" »
By Dan Culloton -
StreetTracks Gold Shares (GLD) , the first exchange-traded fund tracking a commodity, was one of the most successful ETF launches in history. Within weeks of its November 2004 launch it amassed more than $1.5 billion in assets. Is it any wonder that other financial firms are scrambling to introduce their own commodity ETFs?
In fact, ETF purveyors are much like traditional mutual fund companies in that they aren't above launching new funds in asset classes that have enjoyed strong recent performance and have gotten a lot of attention.
By John Spence -
Barclays trust would be based on gold ETF model
BOSTON (MarketWatch) -- Barclays Global Investors filed an initial prospectus for the first exchange-traded fund to reflect the price of silver bullion.
If approved by the Securities and Exchange Commission, the ETF's shares would trade on the American Stock Exchange under the symbol "SLV."
By Jonathan Hoenig -
IT'S BOTH AMAZING AND a little bit bizarre that the same mainstream media that told folks to stick it out for the long haul while the market melted in 2000 and 2001 are now writing smear pieces about hedge funds simply because they're not minting money this year. Indeed, we're now in the golden age of hedge fund hysteria, with each passing day delivering new negative charges against an industry that by almost every yardstick should be celebrated, not demonized.
By John Spence -
BOSTON (MarketWatch) -- Rydex Investments has filed an application with the Securities and Exchange Commission for the first currency exchange-traded fund that would provide exposure to the euro.
Called the Euro Currency Trust, if approved the fund would trade on the New York Stock Exchange under the symbol "FXE," according to a Tuesday filing.
By Paul Waldie and Sinclair Stewart -
Hedge funds have long been viewed as one of the more untouchable areas of the financial markets, and now 30,000 Canadian investors, along with a handful of pension funds, know why: Quite literally, they can't touch their money.
More than $1.2-billion they invested in two domestic hedge fund companies has been frozen by securities regulators amid a wide-ranging investigation, and the investors don't know when -- or if -- they will get all of their cash back. To make matters worse, regulators can't even determine where all of their investments have gone.
TAX and regulatory burdens could pose a threat to Britain's position as a leading global centre for asset management, according to a report released today.
Currently the third-largest global centre for fund management, the UK's 2.8 trillion industry could lose assets and jobs to low-cost rival centres, a study by the Investment Management Association and Corporation of London concluded.
Continue reading "British funds sector 'under threat from tax regime'" »
NEW YORK--(BUSINESS WIRE)--April 26, 2005--
Sixteen Industry Representatives Team with DTCC to Explore Standard Platform for Processing, Settling Trades of Alternative Investment Products
The Depository Trust & Clearing Corporation (DTCC) today announced the formation of an industry advisory committee on alternative investment products to develop an automated, centralized and streamlined approach to the processing of these instruments.
Continue reading "DTCC Forms Alternative Investment Products Advisory Committee" »
By Ashish Gupta -
Hedge funds are pooled investment vehicles, which are commonly set up as limited partnerships in which the manager acts as the general partner while the investors act as the limited partners.
In order to mitigate a particular type of risk, a money manager employs a particular risk management or hedging technique. For example, the market risk can be hedged against by selling a broad collection of securities short in equal proportion to ones long exposure or by buying put options on an index.
Continue reading "Demystifying hedge funds & investment plans" »
By Alistair Barr -
SAN FRANCISCO (MarketWatch) -- Under increasing pressure to extend a string of huge returns for their super-wealthy clients, several top hedge funds are making forays into what may seem an unlikely new business for high-flying investors: reinsurance.
And their entry into a market once dominated by a few old-guard insurance specialists has raised hackles among the industry's leading players. Established