Month: July 2008

Managed Futures Up in May: BarclayHedge

Managed futures turned positive again in May, gaining 1.37% according to the Barclay CTA Index compiled by BarclayHedge. “Both rising and falling commodity prices helped propel CTAs to another profitable month,” says Sol Waksman, founder and president of BarclayHedge. “Prices for crude oil and gasoline continued an uninterrupted uptrend, and most traders held onto their […]

Parker FX Up in May

The Parker FX Index rose 0.08% in May with 76 programs in the index reporting results, of which 42 were positive. On a risk-adjusted basis, the index was down 0.03% in May. The median return for the month was 0.08%, while the performance ranged from a high of 5.18% to a low of -4.80%. Year-to-date […]

Woori Launches Hedge Fund to Focus on FX

Korea’s Woori Investment & Securities is launching a global macro hedge fund in Singapore that will seek foreign exchange opportunities. The Woori Absolute Global Opportunity Fund will be seeded with $35 million for investment in relative value and absolute return strategies in global currencies, fixed income and commodities. Mr Kuen-Cheol Song, one of three managing […]

BMO Offers Multi-Currency Fixed Term Deposits in China

BMO Financial Group has begun offering multi-currency fixed term deposits in China. The development comes as the group opened its Shanghai branch – its fourth in the country – to provide foreign exchange, trade finance, corporate financing and treasury services. BMO’s multi-currency products are targeted at high net- worth Chinese clients and expatriates with a […]

Hedge Fund Standards Board appoints Borges as Chairman

The London-based Hedge Fund Standards Board has appointed Antonio Borges, a former vice-chairman of Goldman Sachs, as its first permanent chairman from 1 July. A permanent board of trustees for the organisation has also been appointed that includes hedge fund investors such as executives from a sovereign wealth fund, a UK pension fund manager and […]

Tri Global FX Launches Forex Hedge Fund

Tri Global FX, a New York-based foreign exchange management company, has launched a new forex hedge fund called Cable Forex Funds. Cable Forex Funds invests in G8 currencies, the Australian and New Zealand dollars as well as cross pairs. The fund is run by head trader Greg Cotter, a former chief trader at Société Générale. […]

Merk Taps Ex-Fed Chief

Currency management firm Merk Investments has appointed William Poole, the former president of the Federal Reserve Bank of St. Louis, as senior economic advisor. Poole retired as president and CEO of the Federal Reserve Bank of St. Louis in March 2008. In that position, which he held from March 1998, he served on the Federal […]

MFA Comments on Hedge Fund Operational Best Practice

Managed Funds Association (MFA) submitted comments on the Best Practices Reports released by the two committees appointed by the US President’s Working Group on Financial Markets (PWG). The Asset Managers’ Committee Report and the Investors’ Committee Report provide guidance for establishing best practices standards for the hedge fund industry and its investors, respectively. The reports […]

UK Hedge Fund CQS Appoints in Hong Kong

CQS, a London-based hedge fund manager that oversees $9.6 billion, has made two senior appointments in Hong Kong as part of its continued expansion. The firm founded by Michael Hintze has hired David Kilgore as trading manager in Asia to head its seven-member trading team in Hong Kong. Kilgore joins from Barclays Capital in London, […]

Philippines Fund Eyes Offshore Investments

The Philippines’ Government Service Insurance System (GSIS), a state-owned pension fund, is increasing its investments offshore which will mean greater local foreign exchange activity. Winston Garcia, president of GSIS, says that the pension fund will invest $400 million this year out of the $1 billion allotted for overseas markets and will select an external manager […]