Tuesday, 30 September 2014
Last updated 1 hour ago
Jul 24 2008 | 8:30am ET
Hedge funds are playing a smaller role in fixed-income trading, according to a new survey.
While banks and real-money investors greatly increased their fixed-income trading volume over the past year, hedge fund volume was flat, Greenwich Associates found. As a result, hedge funds’ share of U.S. fixed-income trading volume fell to 20% from 29% in 2006-2007. All told, U.S. fixed-income trading volume rose 12% in the past year.
Hedge funds still play the major role in some segments of fixed-income trading, with absolute trading volumes in high-yield credit products, leveraged loans and structured products increasing as hedge funds delever their portfolios. And hedge funds account for 95% of trading volume in distressed debt, and more than 50% in high-yield credit derivatives, structured credit and leveraged loans.
The Greenwich study also showed the Lehman Brothers remains the preferred fixed-income dealer to hedge funds, followed by JPMorgan Chase, Goldman Sachs, Deutsche Bank and Morgan Stanley.
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…
The trading world is inundated with strategies and techniques. Here’s one way traders can get a handle on information overload.