Tuesday, 21 October 2014
Last updated 3 hours ago
Jan 31 2011 | 1:39am ET
The Man Group today will launch its first hedge fund exchange-traded fund, designed to profit from brokers' best ideas.
The Man GLG Europe Plus Source ETF will use an algorithmic system to trade on brokers' buy recommendations. Hundreds of these will be aggregated and rated; the brokers with the winning tips will win the trades based on those tips, the Financial Times reports. The system is similar to that employed by Marshall Wace Asset Management for its Tops program.
The Man fund will not trade on sell recommendations, however; Tops does.
The new strategy, one of the first joint products offered by Man and GLG Partners, which Man acquired last year, is the brainchild of Man's quantitative research group, MSS. That unit this month also launched a tail risk fund, Man Tail Protect, one of several so-called "black swan" funds—which seek to profit from extreme, unlikely moves in the market—to debut recently.
The ETF's strategy is already being used in a managed account for a single large client, according to the FT. The ETF is expected to list with about US$260 million, before "intensive" marketing begins next month.
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 ...