Hedge funds
Riskology: Did markets overreact to China sell-offs?
Analysis of recent volatility shows the limitations of single-factor models, write Katherine Macleod of Senator Investment Group and Damian Handzy of Investor Analytics
Investors redeem risky China hedge fund managers
Conservative managers have become more attractive for investors backing away from "terrible" environment in China
Mifid II delegated acts shelved until November – FCA
FCA official says 14 elements of Mifid II will be held up; research row is blamed
Best execution woes ongoing for small hedge funds
One year since the UK Financial Conduct Authority’s damning review into best execution practices, small hedge funds are still fixated over how to achieve the best price
Client list reveals HFT dominance on BrokerTec
Barclays and JP Morgan are the only banks on a list of top interdealer firms for US Treasuries
Esma ‘determined’ to finalise Mifid II rules in September
Market has been expecting a delay; timeline will hinge on board meeting this week
TruMid takes early lead in credit dark pool race
Nearly $2.5 billion of corporate bond trades have been executed on dark pools since May
Market liquidity has been drained by regulations, says DBS chief
Volcker, Basel III and Dodd-Frank have combined to drain liquidity – particularly in times of market stress
Citadel shut out of Tradeweb as it makes US Treasury move
The firm is the first non-bank on Bloomberg, but primary dealer catch means it cannot join Tradeweb
Banks hope for Mifid reprieve on fixed-income research
Intervention by France, Germany and the UK could bring about "more considerate treatment"
Interdealer brokers need to change, say critics
Interdealer brokers face a dilemma. With revenues from dealers falling, the sector needs to find new customers, but it must avoid alienating its traditional client base. The result: buy-side critics say brokers are not changing quickly enough
Lighthouse: Korean pension plan sets Asian hedge fund trend
South Korea's national pension fund's $870 million investment in hedge funds may be a turning point for the region, says Lighthouse Partners
Proportion of smaller hedge funds in industry drops off
The dominant outperformance of small hedge funds has been on the wane since 2009, although reporting drop-offs were more common among smaller funds than medium and large
Avoiding fraudsters key to Neuberger Berman's China fund
Neuberger Berman's Greater China Long/Short Equity Fund, which invests in domestic consumption and infrastructure companies, wins best emerging markets hedge fund award
Liquidity events becoming more common, buy-siders claim
A hedge fund stops trading off-the-run US Treasury debt; a private equity firm sees its currency trading costs double; an asset manager routinely sells high-yield bonds at a two-point discount. Asset managers tell Taylor Harrison about liquidity risk in…
SEC’s Piwowar doubts CCPs should clear some instruments
SEC Commissioner says some derivatives products would be better left outside clearing houses, due to jump-to-default risk
Campbell profits from central bank divergence
Campbell & Company's Trend Following Portfolio picks up two Hedge Funds Review Americas Awards, including hedge fund of the year
Zimmer bucks trend in decade of low hedge fund returns
How do you make double-digit returns on utilities without predicting the oil price? Zimmer Partners discusses its strategy
Volatility mispricing ripe source of profits, says Malachite
Poorly constructed ETFs, risk-averse insurers and straitened banks are distorting volatility markets. Malachite is one fund designed to pick up the profits
Riskology: hedge funds and banks can learn from each other
The differing roles of risk management at banks and hedge funds are not incompatible
Clearing brokers send balance sheet allocations to Basel
Banks send data to Basel to illustrate the impact of the leverage ratio on clearing brokers
Beach Horizon soars on pattern-spotting machine
David Beach's 25 years' experience with pattern-spotting techniques has been replicated by a computer in Beach Horizon's office
Outperforming the competition by avoiding the crowd
Trades that were uncorrelated to the broader credit and equity markets led to the success of Sound Point Capital Management’s Beacon Fund in 2014, a strategy that is expected to help the fund outperform this year and next.
Bitcoin technology finds new uses in finance
The underlying technology of bitcoin can be leveraged to transform the traditional payments system, speeding up post-trade settlement and mitigating transaction risk in line with regulatory expectations, say industry experts