2.11.2007 - Tiger
Cub Launches Global Macro Hedge Fund
Suranya Capital Partners, a Stamford, Conn.-based global macro shop, has opened
its maiden hedge fund, Suranya Global Opportunity Fund, to outside investors. The
fund launched with $30 million in proprietary and seed capital.
2.11.2007 - Calif.
Asset Manager Opens CTA
Irvine, Calif.-based Compak Asset Management has made the leap into alternatives
with the launch of a commodity trading adviser.
2.11.2007 - Canadian dollar hits record high
The Canadian dollar surged to its highest level against the US dollar since the
currency was floated half a century ago after surprisingly strong Canadian employment
data improved the loonie’s interest rate appeal on Friday.
2.11.2007 - Oil rises, shrugging off Dow fall
Gold surged through the $800 an ounce level on Friday for the first time in 28 years
as investors sought refuge from a second wave of credit turbulence. Renewed US dollar
weakness and fears about an inflation spike after crude oil prices jumped to more
than $95 a barrel also contributed to gold’s strength.
2.11.2007 - Amaranth
Bid To Stop FERC Lawsuit Fails
A federal judge yesterday denied an effort by collapsed hedge fund Amaranth Advisors
to get one regulator off its back, but cautioned that agency that it would be “prudent”
to back off.
7.11.2007 - Florida
CTA Fined $20 Million For Fraud
Commodity trading adviser Cromwell Financial Services and its founder have been
fined more than $20 million by a Florida Federal Court for fraudulently soliciting
customers to purchase options on commodity futures contracts.
8.11.2007 - Man Group profit surges after MF Global spin-off
U.K. hedge fund manager Man Group said Thursday that its net profit for the six
months ended Sept. 30 jumped to $2.47 billion from $620 million, largely due to
a gain from the initial public offering of its MF Global unit.
8.11.2007 - Investors set for long-term commodity bets
Long-term commodities prices are braced for a wave of investments as two leading
banks launch indices that will make it easier for investors to access this increasingly
popular asset class.
13.11.2007 - London creates niche for derivative sales
London has become the global leader in developing niche derivatives markets as bankers
become more inventive in the way they trade, new research shows.
13.11.2007 - Commodities prices outrun hedge funds
"T. Boone Pickens, the billionaire trader who predicted the rise of crude oil to
$100 a barrel, is lagging behind commodity index investors for the first time since
2003. Even California Public Employees' Retirement System, the 75-year-old pension
fund that ignored commodities until eight months ago, was beating Pickens. Calpers
invested in the Standard & Poor's GSCI index, up 32 percent this year, while Pickens's
BP Capital fund rose 22 percent."
14.11.2007 - Gold's haven appeal grows
Gold is likely to see a significant correction before the end of the year but prices
are forecast to reach a new record early in 2008, according to the Royal Bank of
Canada, which hosts its annual gold conference in London on Thursday.
14.11.2007 - Shelter in the Storm: Gold Demand Soars on Subprime Mess
The third quarter saw another round of strong demand for gold as the subprime credit
crunch drove investors to gold exchange traded funds in record numbers. According
to the World Gold Council’s (WGC) quarterly “Gold Demand Trends”, gold demand boomed
by 30% year-on-year to a record $20.7 billion in the quarter ended 30 September.
In terms of tonnage, demand grew by 19% to 947.2 tonnes from 795.5 tonnes in the
third quarter last year.
16.11.2007 - Oil stumbles and gold falters in volatile week
Highly volatile trading was a key feature of commodity markets this week, which
saw a correction for gold while oil faltered in its challenge for the $100 mark.
16.11.2007 - Investcorp
Plants $50M With Goldman Vet’s Global Macro Shop
Investcorp has seeded its second hedge fund in three weeks, investing $50 million
in Stoneworks Asset Management, a London-based global macro shop.
19.11.2007
- Hedge Funds Boost FX Market
The foreign exchange market is on its way to becoming a separate asset class, thanks
in part to the rising involvement of hedge funds. In a white paper published last
month, electronic trading platform FXall notes that hedge funds ?are successfully
applying algorithmic strategies to FX trading to generate alpha, using many of the
same methods they have applied in the equities market and other asset classes.
19.11.2007 - Specialist currency manager Record plans London Stock Exchange listing
Record, a London-based specialist currency investment manager and provider of currency
hedging services for institutional clients, has announced plans for an initial public
offering of its ordinary shares, which are to be listed on the London Stock Exchange's
main market.
22.11.2007 - Oil: Key players and movements
The rising oil price, which flirted with $100 a barrel this week, risks pushing
the global economy, already threatened by the credit squeeze, into a deep and prolonged
slowdown.
22.11.2007 - Tchilinguirian of BNP Says $100 Oil Prices `Justified' Video
news
Harry Tchilinguirian, a senior oil market analyst at BNP Paribas, talks with Bloomberg's
Nigel Stevenson from London about his forecast for oil prices, today's U.S. weekly
inventories report and the outlook for demand. Oil climbed above $99 a barrel for
the first time as a slumping U.S. dollar made crude cheaper to foreign buyers.
22.11.2007 - Over-the-counter derivative positions are $516 trillion:
BIS
The notional amount of outstanding over-the-counter derivatives -- derivatives that
do not trade on an exchange -- were $516 trillion at the end of June, which corresponds
to annualized growth of 33%, according to the Bank for International Settlements.
23.11.2007 - Zinc and copper prices start to buckle
Base metals have come under strong selling pressure in recent weeks amid growing
concerns over the possibility of a US recession and knock-on effects in the rest
of the world. News that the Chinese government plans stricter controls over new
investment projects has heightened concerns about further price weakness.
23.11.2007 - Trading in derivatives slows to a trickle
Liquidity in some of the world’s biggest derivatives markets has dried up this week
amid increasing fears over the health of the international financial system
23.11.2007 - Oil's surge centers on sliding value of U.S. dollar
The dollar's tailspin since the Federal Reserve began to cut interest rates is giving
an updraft to already bullish crude-oil futures, and analysts say that relationship
will continue driving oil and the currency both in their current directions.
23.11.2007 - Where next for commodities after price blip?
Faith in the ability of Chinese demand to mitigate the effects of a US slowdown
has supported equities and commodities through the credit squeeze. This week that
faith was dented.
27.11.2007
- Poland Urged To Open Foreign Investment
Current restrictions on pension funds for investment in foreign equities and the
use of derivatives could lead to a crisis on the Warsaw stock exchange, Krzysztof
Rybiński, deputy president of the National Bank of Poland, has warned, IPE.com reports.
27.11.2007
- Eurex Adding Bevy of Equity Options
Global derivatives exchange Eurex will expand its product offering by launching
new equity options on Austrian and Swiss underlyings and introducing over 100 new
single stock futures next month and in January 2008.
27.11.2007 - A
New Paradigm in Quantitative Investing
A few weeks after the unusually large drawdowns attracted everyone’s attention to
the perils of “quantitative” investing, the popular opinion of what may have happened,
has been formed. The answer, apparently, lies in the quantitative space becoming
overcrowded, with most models generating similar forecasts and thus similar portfolios.
Losses began with the rapid unwind of a large market-neutral equity portfolio and
have generated ripples throughout the quant world.
28.11.2007 - Soyabeans to stoke food price inflation
Policymakers already concerned about the relentless rise in global food inflation
are facing more bad news in the shape of soaring soyabean prices.
29.11.2007 - Fortress
Preps Commodities Hedge Fund
Fortress Investment Group is poised to launch a commodities hedge fund led by new
hire William Callanan. The New York-based alternative investments giant said its
fourth hedge fund, dubbed the Drawbridge Commodities Fund, will target returns of
between 15% and 20%. The fund will invest in energy, metals, agriculture, shipping
and carbon emissions futures, as well as commodity- and industrial-related equities,
Bloomberg News reports.
29.11.2007 - Cambridge
Preps Asian Currency Hedge Fund
Asset management firm The Cambridge Strategy is prepping a currency hedge fund derived
from its Asian Emerging Markets Alpha Strategy. The U.K.-based firm is planning
to launch the fund on Dec. 15 with $10 million in seed capital.
29.11.2007
- Toronto Firm Rolls Out Energy HF
Full Cycle Energy Investment Management launched its third energy-dedicated hedge
fund in mid-October, which the firm will begin marketing in six months. Robert Duncan,
director of business development, said the Toronto-based firm seeks to establish
a track record for the fund before marketing it to larger institutions. Its goal
is to grow assets to $80 million from around $5 million by late 2009. So far, in
four weeks of trading, Full Cycle Energy Concentrated has flat returns.
29.11.2007 - Man capitalises on climate change with carbon trading
Hedge fund specialist Man Group, one of the first FTSE 100-listed companies to claim
carbon-neutral status, wants to launch a series of products that deal with the climate
change threat. Chief executive Peter Clarke also believes that carbon trading will
be a big opportunity for managed futures funds, such as Man's AHL.
30.11.2007
- Derivatives Going Green
Green derivatives are increasing in popularity. Trading volumes for global carbon
emissions reached 22 billion last year, and are expected to surpass 40 billion by
2012, according to consulting firm Celent.
30.11.2007 - Oil price falls to one-month low
Crude oil prices tumbled $9 during the week to their lowest level in a month.
30.11.2007 - ICE Futures Europe sees record crude trade volume
Exchange operator IntercontinentalExchange said Friday that its ICE Futures Europe
subsidiary achieved new volume records, both exchange-wide and in the ICE WTI Crude
futures contract. On Thursday, ICE WTI Crude futures established a new daily volume
record with 385,502 contracts traded.