Monday, 20 October 2014
Last updated 2 days ago
Mar 22 2010 | 2:46pm ET
A pair of convertible arbitrage hedge funds is joining the UCITS III bandwagon.
CQS, the $6.7 billion London-based quantitative hedge fund, is preparing a UCITS-compliant convertible fund with the help of JPMorgan Chase. Another London firm, the Matrix Group, plans to repackage Lazard Asset Management’s Lazard Rathmore fund as a UCITS vehicle, the Financial Times reports.
CQS is awaiting regulatory approval for the JPMorgan Mansart Investments CQS Convertible Alpha fund, which it hopes to launch in April.
“We have been approached by a number of existing and new clients asking for exposure to a convertible arbitrage strategy in an UCITS III format because they are constrained by what they can investment in,” Nick Varker, senior executive responsible for product development, told the FT. But he warned that the new fund wouldn’t be able to match the offshore version of the fund because of the liquidity and risk rules that are part of the UCITS structure.
For its part, Matrix aims to bring the Lazard convertible funds to the masses. The strategy earned 58.4% last year.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...