Trusted Insighthttp://thetrustedinsight.com/2017-07-10T11:48:19.517612-04:00Trusted Insight, the world's largest platform for institutional investors with 40,000 LP investor professionals in 98 countries and territories around the globe. 30,000 institutional investors engage with Trusted Insight each week. They are actively investing in alternative assets, primarily private equity, hedge funds, real estate and private companies. Our users consist of pension funds, endowments, foundations, sovereign wealth funds, family offices, banks and insurance companies. 83% of Trusted Insight users continue to use the platform 6 months after initially signing up. Investors on the platform, on average manage in excess of $5 billion. We are a platform for qualified purchasers, not high net worth investors.
World's Biggest Pension Fund In Best Showing In 2 Years
2017-07-10T11:48:19.517612-04:00https://www.thetrustedinsight.com/investment-news/worlds-biggest-pension-fund-in-best-showing-in-2-years-20170710908/
July 08, 2017 5:00 AMTOKYO ⢠The world's biggest pension fund posted its best annual gain in two years, as Japanese and overseas stocks rose while government bonds slid.
Hedge Funds Head Back Into Government Bonds After Turgid 2016
2017-02-03T16:25:07.432947-05:00https://www.thetrustedinsight.com/investment-news/hedge-funds-head-back-into-government-bonds-after-turgid-2016-20170203158/
LONDON Some hedge funds who shunned or bet against European government bonds only three months ago are buying again as a sharp rise in yields offers them returns after a lacklustre 2016 for the industry. Most hedge funds spent last year aggressively "short" on government bonds, but portfolio managers at individual funds and investment companies that invest in hedge funds - so-called funds-of-funds - told Reuters some are changing their view. "We hear diverging opinions," said Pacome Breton, head of portfolio management at hedge fund allocator FQS Capital Partners. "Some after the rally up to December were cautious and taking...
German $82 Billion Pension Giant Seeks Outside Help To Grow
2016-11-01T11:45:52.585288-04:00https://www.thetrustedinsight.com/investment-news/german-82-billion-pension-giant-seeks-outside-help-to-grow-20161101582/
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world....
Third Point's Loeb: BOJ Move Will Have "Positive" Impact For Markets
2016-09-21T10:33:12.214876-04:00https://www.thetrustedinsight.com/investment-news/third-points-loeb-boj-move-will-have-positive-impact-for-markets-20160921470/
NEW YORK, Sept 21 (Reuters) - Hedge fund manager Daniel Loeb said the Bank of Japan's decision earlier on Wednesday to target interest rates on government bonds will have "very positive implications...
Brexit Is Threatening To Eradicate Britain's Pension Payouts
2016-08-11T17:22:35.087456-04:00https://www.thetrustedinsight.com/investment-news/brexit-is-threatening-to-eradicate-britains-pension-payouts-20160811531/
Britain's pension industry could find itself in difficulty because its key asset holdings – government bonds – have negative yields.
Commercial Real Estate Becomes An Attractive Investment In Recovering Spain
2016-07-21T14:00:15.244693-04:00https://www.thetrustedinsight.com/investment-news/commercial-real-estate-becomes-an-attractive-investment-in-recovering-spain-20160721327/
As the Spanish economy is continuing to improve, record low government bonds have made commercial real estate an attractive investment. This, in turn, has made SOCIMIs - real estate investments trusts - increasingly important.
Stock Losses Force World's Biggest Pension Fund Into More Buying
2016-07-12T12:08:35.827175-04:00https://www.thetrustedinsight.com/investment-news/stock-losses-force-worlds-biggest-pension-fund-into-more-buying-20160712840/
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world....
Desperate Measures Only Add To NY’s Pension Perils
2016-06-20T16:47:05.737700-04:00https://www.thetrustedinsight.com/investment-news/desperate-measures-only-add-to-nys-pension-perils-20160620814/
During the first few years after Wall Street prices bottomed out in 2009, public-pension funds across the country reaped double-digit returns. They were riding a bull market pumped up by ultra-low in...
The Fintech Bubble
2016-06-18T19:54:32.456896-04:00https://www.thetrustedinsight.com/investment-news/the-fintech-bubble-20160618731/
I still believe it is true, but the industry is out over its skis. Over a billion dollars have been invested in Bitcoin and Fintech startups, tracking and exceeding investment in Internet investments...
Embracing Macroeconomic Indicators
2016-06-09T07:20:58.879821-04:00https://www.thetrustedinsight.com/investment-news/embracing-macroeconomic-indicators-20160609149/
How macroeconomic data can drive asset allocation decisions
By Maciej Wisniewski, Piotr Kawala and Radek Pszczółkowski, Macromoney
It is often easy to assume that macroeconomic indicators are not helpful in predicting the course of markets – the stock market, so the argument goes, is a better barometer. However, research can show that these factors move side by side and can be used to inform the asset allocation decisions a fund takes.
At Macromoney we conducted an exercise in which we allocated assets between S&P 500 equities and US Treasury bonds, based on the acceleration or deceleration of the ISM index, a survey conducted by the Institute of Supply Management. We bought the S&P 500 when the ISM increased against the previous month (e.g. from 50.4 to 50.7), and bought Treasury bonds when the ISM fell against the previous month (e.g. from 50.7 to 50.6).
We reallocated capital at the beginning of each month using back-tested ISM results, assuming foreknowledge of the ISM results. This produced a return that beat US bonds and the S&P 500 over a 1978-2015 time period scenario by more than 4.5 fold [see graph].
Hence, we have built a proprietary asset allocation model that is informed by macroeconomic indicators, helping us to identify the different stages of the economic cycle that will in turn indicate which asset class should be allocated to.
Our model draws on a number of momentum signals:
• While a standard momentum strategy is based on the prices of different asset classes, our signals use the momentum of macroeconomic indicators;
• Our model draws on key macroeconomic data, including GDP, interest rates, inflation, unemployment data, the ISM index, industrial production and retail sales.
• We also draw on other sources, like Federal Reserve Economic Data (FRED) from the St Louis Fed;
• The length of the time series since 1978 is also important;
• Finally, we look at investment decisions based on forecasts from the above mentioned economic data and the Model Vector Autoregression (VAR) in the statistical program.
The results are used to determine the optimal choice of asset for each stage of the business cycle. It is important to emphasise that the model is not trying to forecast future economic indicators but instead is intended to monitor the change of speed of the key indicators: when these data are accelerating, a buy signal is generated, when they are decelerating a neutral signal is generated, and a sell signal occurs from contracting data.
Allocation between asset classes
Using signals generated from the model allows funds to be allocated between different asset classes. For buy signals most of the assets are allocated to a carefully selected equity portfolio. The fund is not allowed to allocate net short positions in the equity portfolio, and maintains an average equity exposure of between 50-120% of NAV. The portfolio is periodically hedged using volatility futures and options with an exposure of up to 20% of the NAV.
For neutral signals the fund is restricted to no more than 100% of NAV in net equities exposure, with average equity exposure of between 0-50% and with the fixed income component averaging between 0-100%. Again, the portfolio is hedged periodically with volatility futures and options, with exposure up to 20% of NAV. Net short positions are taken in stock indexes and up to 60% of the portfolio can be composed of short positions in single name stocks.
For sell signals the fund no longer can maintain net long positions in equities, and instead maintains a 50-100% weighting in fixed income government bonds. It may implement volatility futures and options strategies with exposure of up to 20% of NAV. Net short positions in stock exchange indexes and specific stocks can account for up to 100% of NAV.
The investment process revolves around which signal has been generated: the model performs the role of an internal benchmark against which the fund is measured on an annual basis. This also represents the target the management team needs to beat.
In practical terms, using real market scenarios, the long term macroeconomic model generated a buy signal in the first quarter of 2015. From April slowing macroeconomic data signalled a retreat from equities. At the same time, our short term model, which tracks volatility, indicated in July that there was a potential upcoming – and significant – spike in volatility. In response to these signals, we opened out of the money put options on the S&P 500.The initial total position in options in July was only 1.5% of NAV, but it generated a 15% net return in August.
In conclusion our model looks at the economy and at capital markets from the perspective of the mid-term business cycles. This attitude helps not only to grow capital during a bull market but also to preserve capital in downturns. While in a long term uptrend the model results are in line with the S&P500, its strength is shown in a full cycle and especially during prolonged market contraction.
The results of the fund itself, which are a combination of macroeconomic model signals and alpha generated by Macromoney’s investment team, show that it is possible to outperform the stock market in the long term with a disciplined and repeatable investment process backed by thorough research.
Maciej Wisniewski is the fund manager of Macromoney Global Investments Ltd, a BVI based global macro fund with equity bias. Maciej has 20 years of experience in investments management and in successfully setting up investment funds. Maciej holds a Master's degree in Finance from London Business School and a second Master's in Finance and Banking from Warsaw School of Economics.
Piotr Kawala and Radek Pszczółkowski are analysts at Macromoney. Previously they worked for leading Polish financial institutions. Piotr is also a lecturer at the Warsaw School of Economics.
Poland To Revamp $35 Billion Of Pension Funds As Stocks Lag
2016-05-31T11:00:04.785065-04:00https://www.thetrustedinsight.com/investment-news/poland-to-revamp-35-billion-of-pension-funds-as-stocks-lag-20160531505/
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world....
Mitsubishi Estate Eyes 100B-Yen Overseas Real Estate Fund
2016-03-15T14:03:44.039669-04:00https://www.thetrustedinsight.com/investment-news/mitsubishi-estate-eyes-100b-yen-overseas-real-estate-fund-20160315599/
Mitsubishi Estate is to create a fund of about 100 billion yen ($880 million) to invest in overseas properties, sources told The Nikkei. The idea is to attract surplus domestic capital investors find themselves with now that the Bank of Japan has introduced a negative interest rate.
In A Turbulent Market, Hedge Fund Managers Spot An Opportunity
2016-02-19T14:00:12.469158-05:00https://www.thetrustedinsight.com/investment-news/in-a-turbulent-market-hedge-fund-managers-spot-an-opportunity-20160219241/
Stock markets are plunging. The price of oil is in turmoil. And hedge funds just came off their worst year since the peak of the financial crisis in 2008. But Adam Sender, a well-known collector of contemporary art who shuttered his hedge fund two years ago, just got back into the game. He is bucking the trend at a time when the establishment of new hedge funds is sharply lower than a year ago, according to the data provider Preqin. It may seem like an odd time to be landing investments for new hedge funds, but a handful of big-name...
The Secretive Hedge Fund That's Generating Huge Profits For Yale
2016-02-06T10:30:11.100304-05:00https://www.thetrustedinsight.com/investment-news/the-secretive-hedge-fund-thats-generating-huge-profits-for-yale-20160206596/
In a year when titans Bill Ackman and David Einhorn each lost more than 20 percent for their investors, David Swensen’s bet on a little-known hedge fund kept making him money. Nancy Zimmerman’s Bracebridge Capital has gone from $5.8 billion in assets four years ago to $10.3 billion today with a return of about 10 percent a year since its inception. That makes it the largest hedge fund in the world run by a...
Bank Of Japan Stuns Markets With Move To Negative Interest Rates
2016-01-30T14:30:12.376841-05:00https://www.thetrustedinsight.com/investment-news/bank-of-japan-stuns-markets-with-move-to-negative-interest-rates-20160130245/
The Bank of Japan unexpectedly cut a benchmark interest rate to below zero on Friday, stunning investors with a move aimed at shielding the country’s sluggish economy from volatile markets and slowing global growth.
Saudi Arabia Unveils Drastic Cuts Amid Oil Collapse
2015-12-29T14:00:14.508355-05:00https://www.thetrustedinsight.com/investment-news/saudi-arabia-unveils-drastic-cuts-amid-oil-collapse-20151229869/
The 2016 budget, the first since King Salman took over the country in January, contained significant changes in spending and revenue policy as Saudi Arabia adapts to lower oil prices and prepares for the “lower for longer” world.
Argentina’s Next Finance Chief Meets Debt Dispute Mediator
2015-12-10T13:30:39.221234-05:00https://www.thetrustedinsight.com/investment-news/argentinas-next-finance-chief-meets-debt-dispute-mediator-20151210838/
The election of Mauricio Macri in Argentina has raised hopes that a resolution can be reached with the holdout hedge fund creditors.
Nippon Life Plans Japan's Largest REIT as Investors Crave Yield
2015-12-01T17:17:56.020893-05:00https://www.thetrustedinsight.com/investment-news/nippon-life-plans-japans-largest-reit-as-investors-crave-yield-20151201401/
Nippon Life Insurance Co., which is seeking to gather about 300 billion yen ($2.4 billion) for what would be Japan’s largest private real estate investment trust, is targeting returns of 4 percent as yields on government bonds languish near zero.
Odey Cites Druckenmiller In Warning Last Chance To Dump Stocks
2015-11-25T11:00:22.081154-05:00https://www.thetrustedinsight.com/investment-news/odey-cites-druckenmiller-in-warning-last-chance-to-dump-stocks-20151125116/
Prominent UK hedge fund manager, Crispin Odey, has become one of the biggest bears over the past year or so as he worries that China is nearing collapse. Perhaps the most difficult trade for a hedge fund manager to hit consistently the target is short exposure in a portfolio. On a statistical basis considering on monthly win percentage, the lowest performing of the two directional strategies in a long / short hedge fund is the short book. Preparing for a negative shock is never easy, as hedge fund manager Crispen Odey rudely discovered in the fall of 2015. His nearly $2.5 billion Odey...
Hedge funds go hog wild on government bonds
2015-11-19T17:00:14.157906-05:00https://www.thetrustedinsight.com/investment-news/hedge-funds-go-hog-wild-on-government-bonds-20151119793/
As many market participants focused on the increased changes for a long-delayed interest rate hike, hedge fund managers loaded up on government debt. As a whole, the industry bought 10-year Treasury notes at the fastest clip in more than five years, going long on the benchmark fixed income instrument despite expectations for monetary tightening at the Federal Reserve, according to Bank of America Merrill Lynch data. The move to the 10-year, the strongest since August 2010, also came as hedge fund managers increased bets that the stock market would move higher. Most curious, though, was the move to...
‘Exceptional Trader' Rokos Attracts $500 Million From Blackstone
2015-11-05T15:40:52.354509-05:00https://www.thetrustedinsight.com/investment-news/exceptional-trader-rokos-attracts-500-million-from-blackstone-20151105874/
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Chris Rokos, a star money maker at his former employer Brevan Howard Asset Management, raised more than $500 million from Blackstone Group for his new hedge fund firm, according to two people familiar with the transaction. Rokos, who started London-based Rokos Capital Management a month ago, currently oversees more than $1 billion, including about $500 million of his own wealth. He is looking to grow his fund, which bets on macro-economic...
Hedge Funds Turn Bullish on Treasuries as Yield Hovers Near 2%
2015-10-19T10:49:46.176599-04:00https://www.thetrustedinsight.com/investment-news/hedge-funds-turn-bullish-on-treasuries-as-yield-hovers-near-2-20151019827/
Hedge funds and other large speculators held a net 17,692 bullish positions in U.S. government bonds in the week to Oct. 13, from 2,543 net bearish contracts in the previous period. Ten-year Treasuries advanced on Monday, sending yields down closer to the 1.97 percent they reached on Oct. 14, the lowest close since April 27. U.S. debt has rallied over the past month as bets receded that the Federal Reserve will...
A hedge fund founder is backing Jeremy Corbyn's 'People's QE'
2015-09-24T14:44:40.744867-04:00https://www.thetrustedinsight.com/investment-news/a-hedge-fund-founder-is-backing-jeremy-corbyns-peoples-qe-20150924452/
There's support for the new Labour leader from a rather unlikely quarter.
Civil aviation growth an opportunity for private infrastructure investment
2015-09-23T20:06:58.576412-04:00https://www.thetrustedinsight.com/investment-news/civil-aviation-growth-an-opportunity-for-private-infrastructure-investment-20150923434/
VietNamNet Bridge – With funding needs rising commensurately with the rapid growth of Viet Nam's aviation industry, there is an opportunity for private sector participation in developing air infrastructure.
Government Bonds Provided Little Help To Hedge Funds In Tempestuous August
2015-09-15T13:40:00.554347-04:00https://www.thetrustedinsight.com/investment-news/government-bonds-provided-little-help-to-hedge-funds-in-tempestuous-august-20150915937/
Earlier, this blog highlighted an interesting hedge fund positioning report from Bank of America Merrill Lynch. Here’s another hedge fund-related commentary, this time from Mark Connors, who sits on the prime brokerage team at Credit Suisse. He points out that hedge fund strategies that rely on Treasuries to rise when stocks sink were stumped in […]
Uk pension funds invest in diversified credit funds
2015-09-10T10:48:16.168977-04:00https://www.thetrustedinsight.com/investment-news/uk-pension-funds-invest-in-diversified-credit-funds-20150910947/
UK pension schemes are piling into diversified credit funds, with consultants saying the new strategy has become one of their busiest areas in the past 18 months,...
July’s market dispersion proves positive for global macro performance, says GAM
2015-08-19T19:30:12.426708-04:00https://www.thetrustedinsight.com/investment-news/julys-market-dispersion-proves-positive-for-global-macro-performance-says-gam-20150819961/
Hedge
July brought dispersion across geographies and asset classes. As fears about a Grexit receded, European equities and fixed income rallied, according to GAM’s latest Hedge Funds Industry Update.
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Ringgit in Soros-Like Selloff Reviving Memories of 1998 Crisis
2015-08-18T10:09:25.064216-04:00https://www.thetrustedinsight.com/investment-news/ringgit-in-soros-like-selloff-reviving-memories-of-1998-crisis-20150818770/
The ringgit’s steepest slide since 1998 is evoking memories of the clash between then-Prime Minister Mahathir Mohamad and hedge-fund manager George Soros.
Paul Singer Blasts "Manipulated" Markets, Says China Collapse "Way Bigger Than Subprime"
2015-07-15T19:22:58.048379-04:00https://www.thetrustedinsight.com/investment-news/paul-singer-blasts-manipulated-markets-says-china-collapse-way-bigger-than-subprime-20150715122/
This week, dozens of billionaire fund managers, institutional investors, and financial market luminaries descended on that "iconic flagship of Taj Hotels on New York's Fifth Avenue" The Pierre with a...
Real Estate Is Top Dog Among Alternatives
2015-07-15T18:56:12.107422-04:00https://www.thetrustedinsight.com/investment-news/real-estate-is-top-dog-among-alternatives-20150715121/
As an expert in your chosen field you can now partner with ALM to craft, package, and deliver your exclusive critical thinking to our nationwide audience....
PIMCO Releases Asset Allocation Strategies for ‘New Neutral’
2015-07-15T11:07:08.621510-04:00https://www.thetrustedinsight.com/investment-news/pimco-releases-asset-allocation-strategies-for-new-neutral-20150715088/
The authors, Mihir Worah, chief investment officer focusing on real return and asset allocation, and Geraldine Sundstrom, managing director, argue that central banks will raise rates “slowly and prud...
BlueBay expands investment grade team
2015-07-14T10:54:14.341411-04:00https://www.thetrustedinsight.com/investment-news/bluebay-expands-investment-grade-team-20150714059/
BlueBay Asset Management has appointed Andrew Farrell as institutional portfolio manager for the investment grade team.
Largest Global Pension Fund Posts Record Gain as Stocks Rise
2015-07-10T11:49:49.439306-04:00https://www.thetrustedinsight.com/investment-news/largest-global-pension-fund-posts-record-gain-as-stocks-rise-20150710017/
Japan’s $1.1 trillion retirement fund posted its best annual return on record, buoyed by gains in stocks and a weaker yen.
Will the Asian Infrastructure Investment Bank one day matter?
2015-07-10T10:42:41.479935-04:00https://www.thetrustedinsight.com/investment-news/will-the-asian-infrastructure-investment-bank-one-day-matter-20150710015/
As I see it, the creation of the AIIB is not nearly as important as everyone seems to think, and if Beijing’s decision to create the AIIB, and Washington’s decision to oppose it, was part of the stru...
Hedge Funds Had a Really Bad Day This Week
2015-07-02T13:22:35.140739-04:00https://www.thetrustedinsight.com/investment-news/hedge-funds-had-a-really-bad-day-this-week-20150702875/
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world....
Greece, Puerto Rico and China: Contagion or Quarantine?
2015-07-01T14:26:13.843700-04:00https://www.thetrustedinsight.com/investment-news/greece-puerto-rico-and-china-contagion-or-quarantine-20150701849/
Market crises are reason for caution, but they don’t necessarily signal the spread of an all-out financial crisis. That’s the good news....
Greece debt crisis: IMF payment missed as bailout runs out
2015-06-30T18:11:00.596503-04:00https://www.thetrustedinsight.com/investment-news/greece-debt-crisis-imf-payment-missed-as-bailout-runs-out-20150630831/
That’s it. There was no last-second reprieve. No sudden appearance of €1.6bn in the IMF’s bank account....
What Happens If Greece Defaults on Its Payment to the IMF?
2015-06-30T14:24:02.629167-04:00https://www.thetrustedinsight.com/investment-news/what-happens-if-greece-defaults-on-its-payment-to-the-imf-20150630821/
IMF rules allow for no grace period for Greece. And given the fund’s huge financial exposure to the debt-ridden country, the managing director would immediately notify the board of Greece’s overdue f...
Greek Math Whiz at Irish Hedge Fund Tells the Tale of Two Crises
2015-06-26T15:52:21.338750-04:00https://www.thetrustedinsight.com/investment-news/greek-math-whiz-at-irish-hedge-fund-tells-the-tale-of-two-crises-20150626769/
"It's like giving money to a drug addict"
Switzerland's AHV drops soft commodities due to 'political sensitivity' | News
2015-06-15T15:59:42.476904-04:00https://www.thetrustedinsight.com/investment-news/switzerlands-ahv-drops-soft-commodities-due-to-political-sensitivity-news-20150615537/
It is unsurprising that Dutch pension funds sought to voice their concerns about the effect of QE on their sector before that decision was ratified...
Bernanke Blames US Congress for Pushing China to Launch AIIB
2015-06-04T09:16:25.670528-04:00https://www.thetrustedinsight.com/investment-news/bernanke-blames-us-congress-for-pushing-china-to-launch-aiib-20150604305/
Former US Federal Reserve chairman Ben Bernanke yesterday blamed the US Congress for pushing China to launch the Asian Infrastructure Investment Bank (AIIB) and said the yuan was still some distance ...
Pimco Shifts Focus To Capital Preservation, Likes Aussie Bonds
2015-06-03T16:30:39.238652-04:00https://www.thetrustedinsight.com/investment-news/pimco-shifts-focus-to-capital-preservation-likes-aussie-bonds-20150603286/
Bond fund manager Pimco has turned to Australian government bonds and short-term Japanese government debt as it looks not only for yield, but to protect its capital in an uncertain global fixed-incom...
Australian Visa Reform Missed Opportunity for Innovation Stimulus
2015-05-21T15:11:05.431856-04:00https://www.thetrustedinsight.com/investment-news/australian-visa-reform-missed-opportunity-for-innovation-stimulus-20150521165/
"Investment in venture capital in Australia is low compared to other developed markets. In the 2013 financial year, the amount of capital invested by Australian venture capital firms was at its lowest level in 11 years - A$111.4 million. In the same year, the investment by venture capital firms in the US was US$334 billion, in Israel US$1.7 billion and in China, US$3.5 billion"
Ray Dalio’s $165B Hedge Fund to Start a New, Artificial-Intelligence Unit
2015-03-02T01:35:11.633493-05:00https://www.thetrustedinsight.com/investment-news/ray-dalios-165b-hedge-fund-to-start-a-new-artificial-intelligence-unit-20150302351/
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world....
This Hedge Fund Absolutely Killed it in January
2015-02-09T14:59:46.287037-05:00https://www.thetrustedinsight.com/investment-news/this-hedge-fund-absolutely-killed-it-in-january-20150209232/
Cantab Capital Partners' main hedge fund gained 13.4 percent over January, instantly making it a top performer for 2015 and continuing a hot streak for so-called quant managers who use computer algor...
Despite Hard Year, Hedge Funds Cash In
2015-01-19T11:48:22.628423-05:00https://www.thetrustedinsight.com/investment-news/despite-hard-year-hedge-funds-cash-in-20150119096/
Two of the UK’s biggest hedge funds have made multi-million-pound payouts to staff despite a disappointing year for the industry....
This Hedge Fund's Machines Are Making Accurate Calls on Oil
2014-12-15T16:10:04.090671-05:00https://www.thetrustedinsight.com/investment-news/this-hedge-funds-machines-are-accurate-calls-on-oil-20141215877/
Cantab Capital Partners jumped 18 percent in its main fund in November and has returned 32 percent this year and Aspect Capital advanced 12 percent for the month, doubling its return in 2014....
Norway’s $860 Billion Wealth Fund Bets Big on Modi’s India
2014-10-31T09:45:38.731071-04:00https://www.thetrustedinsight.com/investment-news/norways-860-billion-wealth-fund-bets-big-on-modis-india-20141031550/
"India is one of those markets where you should expect that we will continue to increase our investments over time, significantly," Yngve Slyngstad, chief executive officer of Norges Bank Investment ...
Australian VC Reprieved as Investor Visa is Overhauled
2014-10-23T18:29:34.569462-04:00https://www.thetrustedinsight.com/investment-news/australian-vc-reprieved-as-investor-visa-is-overhauled-20141023479/
The association applauded an announcement by Trade and Investment Minister Andrew Robb, reported in The Australian, signalling that the government would revamp the visa to include venture capital as an eligible investment.
Scottish Vote Said to Push Hedge Fund to Brace for Turmoil
2014-09-10T12:31:20.363826-04:00https://www.thetrustedinsight.com/investment-news/scottish-vote-said-to-push-hedge-fund-to-brace-for-turmoil-20140910014/
East Lodge Capital Partners LLP is buying protection against losses on U.K. government debt and the pound before the Scottish independence vote in two weeks’ time, according to a person familiar with...
Japanese Pension Managing $1T+ Looks to Diversify
2014-09-08T18:08:22.465206-04:00https://www.thetrustedinsight.com/investment-news/japanese-pension-managing-1t-looks-to-diversify-20140908970/
TOKYO -- Japan's huge public pension fund ought to dabble in venture-stage companies and private equity, new Welfare Minister Yasuhisa Shiozaki suggested Thursday, saying he sees "plenty to do" in ch...
As Deadline Passes To Repay Hedge Funds, Argentina Defaults
2014-07-31T15:14:42.395970-04:00https://www.thetrustedinsight.com/investment-news/8550-as-deadline-passes-to-repay-hedge-funds-argentina-defaults-20140731550/
The nation missed a deadline yesterday to pay $539 million in interest after two full days of negotiations in New York failed to produce an accord with creditors from its last default in 2001. A U.S....
Risk rising: Inside the struggle over CPP's big, bold investment bets
2014-06-17T14:51:38.002397-04:00https://www.thetrustedinsight.com/investment-news/risk-rising-inside-the-struggle-over-cpps-big-bold-investment-bets-20140617921/
At first glance, the Canada Pension Plan looks like a model for a government-created retirement fund. The portfolio is growing, returns have looked strong and the plan is now among the 10 largest of ...
Real Estate Draws In $120 Billion ATP Fund Reviewing Price Hedge
2014-05-28T17:44:49.878300-04:00https://www.thetrustedinsight.com/investment-news/7618-real-estate-draws-in-120-billion-atp-fund-reviewing-price-hedge-20140528618/
Denmark’s biggest pension fund, ATP, is looking for investments in real estate to generate higher returns as it redeploys funds previously invested in inflation-linked bonds. Record-low central bank interest rates are still fueling property gains, Henrik Gade Jepsen, chief investment officer at ATP, which is based north of Copenhagen, said in an interview.
Hungary lowers interest rates amid moves to boost economy | euronews, economy
2014-05-27T22:17:52.728880-04:00https://www.thetrustedinsight.com/investment-news/7588-hungary-lowers-interest-rates-amid-moves-to-boost-economy-euronews-economy-20140527588/
Hungary's central bank has lowered its main interest rate from two and a half to two point four percent....
Pimco's Bad Bets on Emerging Markets Add to Firm's Troubles
2014-05-12T14:04:31.851229-04:00https://www.thetrustedinsight.com/investment-news/7283-pimcos-bad-bets-on-emerging-markets-add-to-firms-troubles-20140512283/
The headquarters of investment firm PIMCO is shown in this photo taken in Newport Beach, California January 26, 2012....
Fund management: Will invest for food
2014-05-01T16:01:21.196739-04:00https://www.thetrustedinsight.com/investment-news/7068-fund-management-will-invest-for-food-20140501068/
SOME of the greatest fortunes in the modern world have been accrued by those who look after other people's money. Hedge-fund and private-equity managers have become billionaires thanks to their abili...
Time to Act: Pension Funds are Drying Up
2014-04-30T11:07:45.878051-04:00https://www.thetrustedinsight.com/investment-news/7022-time-to-act-pension-funds-are-drying-up-20140430022/
A recent announcement by the world's largest public pension fund, the $1.26 trillion Japanese Government Pension Investment Fund (GPIF), is very telling...If one of the country's largest sources of demand for its own government bonds dries up, who will buy them?
Angola SWF Eyes Investments in Hong Kong Bonds, Seeks Chinese Co-Investors for African Projects
2014-04-29T11:07:27.672837-04:00https://www.thetrustedinsight.com/investment-news/7008-angola-swf-eyes-investments-in-hong-kong-bonds-seeks-chinese-co-investors-for-african-projects-20140429008/
"We are considering co-investing in the Hong Kong capital market. Hong Kong is a bridge to [the mainland] and it allows repatriation of profits and more flexibility of capital movements. That is important for us as a foreign investor," said dos Santos, a son of Angolan President Jose Eduardo dos Santos
Surprise: These funds are back as big winners
2014-04-09T17:38:40.125783-04:00https://www.thetrustedinsight.com/investment-news/6709-surprise-these-funds-are-back-as-big-winners-20140409709/
Surprise, surprise: Low-key investment funds that diversify their portfolios across asset classes to protect them for the long term are again proving their value....
Bridgewater Up as other Macro Hedge Funds Lag
2014-04-09T17:11:26.479363-04:00https://www.thetrustedinsight.com/investment-news/6704-bridgewater-up-as-other-macro-hedge-funds-lag-20140409704/
Bridgewater Associates, the largest hedge fund firm in the world, has posted modest, positive returns this year as others that bet on macroeconomic trends have faltered....
Hedge Funds Long Spanish, Italian Sovereigns; Short Treasuries
2014-04-02T20:15:38.791240-04:00https://www.thetrustedinsight.com/investment-news/6587-hedge-funds-long-spanish-italian-sovereigns-short-treasuries-20140402587/
Robert Crossley and David Bieber of Citi Research, in their research report dated March 20, 2014 also point out positioning is long in Germany, while it is longer in France....
Virtu Filing Shines Light on High-Frequency Trading
2014-03-13T12:25:47.839707-04:00https://www.thetrustedinsight.com/investment-news/6265-virtu-filing-shines-light-on-high-frequency-trading-20140313265/
Virtu Financial Inc., the New York-based automated market maker that tried and failed to buy Knight Capital Group Inc. in 2012, filed for an initial public offering yesterday, disclosing that it had earned money every day but one in the last five years.
In Case you Missed Last Weeks: SAFE's CIO Leaves
2014-02-21T11:29:51.908423-05:00https://www.thetrustedinsight.com/investment-news/5893-in-case-you-missed-last-weeks-safes-cio-leaves-20140221893/
January 28, 2014 Z hu Changhong, the man behind managing China's foreign exchange reserves, is leaving his position as chief investment officer. The former PIMCO alumni is credited for diversifying ...
Leverage is not a dirty word, says boutique manager
2014-02-17T02:25:05.044373-05:00https://www.thetrustedinsight.com/investment-news/5749-leverage-is-not-a-dirty-word-says-boutique-manager-20140217749/
Cash is currently overvalued and it's more attractive for investors to look at adding leverage where possible to make use of this accommodative environment....
KKR Raises $1.5 Billion for Its First Real Estate Fund
2013-12-30T14:29:14.239459-05:00https://www.thetrustedinsight.com/investment-news/4356-kkr-raises-15-billion-for-its-first-real-estate-fund-20131230356/
KKR & Co., co-founded by Henry Kravis and George Roberts, raised $1.5 billion for its first real estate fund, with most of the money to be spent in North America and as much as a quarter of it in ...
Former Bush aide now top private equity lobbyist
2013-12-19T12:41:43.666050-05:00https://www.thetrustedinsight.com/investment-news/4006-former-bush-aide-now-top-private-equity-lobbyist-20131219006/
CNBC.comFormer Bush aide now top private equity lobbyistCNBC.comKen Mehlman, the public affairs chief at Kohlberg Kravis Roberts Co. who was previously a leading Republican operative in Washington, is now the top lobbyist for the private equity industry. Mehlman was elected Thursday as the chairman of The Private...KKR Partner to Lead Private Equity Lobbying GroupNew York TimesEx-Bush White House official to head private equity groupMucketyall 3 news articles
Putin: Russia to buy $15 billion in Ukraine bonds
2013-12-17T15:12:31.731619-05:00https://www.thetrustedinsight.com/investment-news/3879-putin-russia-to-buy-15-billion-in-ukraine-bonds-20131217879/
Russia's Putin opened his wallet in the battle with the EU over Ukraine's future....
Japan Pension Fund Urged to Diversify as Independent Body
2013-11-20T12:37:22.954936-05:00https://www.thetrustedinsight.com/investment-news/3103-japan-pension-fund-urged-to-diversify-as-independent-body-20131120103/
Japan’s 121 trillion yen ($1.21 trillion) pension fund needs more independence from bureaucrats and should put some of the world’s biggest retirement savings pool into private equity and commodities, ...
Nigeria's banks seek new avenues to make money after profit hit
2013-11-14T10:51:36.345877-05:00https://www.thetrustedinsight.com/investment-news/2870-nigerias-banks-seek-new-avenues-to-make-money-after-profit-hit-20131114870/
*Bank earnings may fall by 10 pct in Q4- analyst. LAGOS, Nov 13- Nigeria's banks are facing a profit squeeze this year as a result of new measures to help the country's economy that are also partly de...
As excess liquidity drowns traditional safe havens, here's where to find real returns
2013-11-12T12:42:53.057460-05:00https://www.thetrustedinsight.com/investment-news/2765-as-excess-liquidity-drowns-traditional-safe-havens-heres-where-to-find-real-returns-20131112765/
To navigate a global market swamped by liquidity, one strategist has charted a course towards Asia....
Greek bonds pay off for fund managers
2013-10-29T12:06:41.728298-04:00https://www.thetrustedinsight.com/investment-news/2158-greek-bonds-pay-off-for-fund-managers-20131029158/
The best-performing bond-fund managers in the world this year aren’t based in London, New York or California. They‘re in Athens....
Japan GPIF moves toward private-equity investment -sources
| Reuters
2013-10-22T20:35:17.885864-04:00https://www.thetrustedinsight.com/investment-news/2123-japan-gpif-moves-toward-private-equity-investment-sources-reuters-20131022123/
TOKYO, Oct 18 (Reuters) - Japan's Government PensionInvestment Fund (GPIF) is making initial moves toward investing in private equity, sources say, a potentially big step in the world's biggest public...
Ignis launches high-octane absolute return government bond fund
2013-10-09T11:20:09.401719-04:00https://www.thetrustedinsight.com/investment-news/1942-ignis-launches-high-octane-absolute-return-government-bond-fund-20131009942/
Ignis Asset Management has launched an absolute return government bond fund for institutional investors designed to double the risk of its existing Absolute Return Government Bond fund...
Paulson hedge funds backing recovery in Greek banks
2013-10-08T14:33:08.144214-04:00https://www.thetrustedinsight.com/investment-news/1933-paulson-hedge-funds-backing-recovery-in-greek-banks-20131008933/
Funds run by billionaire investor John Paulson see Greece's recapitalised banking sector as an attractive investment play on the country's recovery after a deep six-year slump...
U.S. judge says Argentina debt swap plan violates court order
2013-10-08T13:56:16.478717-04:00https://www.thetrustedinsight.com/investment-news/1926-us-judge-says-argentina-debt-swap-plan-violates-court-order-20131008926/
Argentina's proposal to use a debt swap to pay some of its creditors would violate a U.S. court injunction, a judge in New York said on Thursday...
Australia's 'DIY' pension funds ring regulatory alarm bells
2013-10-07T16:28:44.210275-04:00https://www.thetrustedinsight.com/investment-news/1913-australias-diy-pension-funds-ring-regulatory-alarm-bells-20131007913/
Risky, high-yielding debt is being sold to Australian retail investors who manage their own pension savings, a move that underlines growing risks associated with the country's $1.5...
Universal-Investment, Stratton Street launch Renminbi UCITS
2013-10-02T10:53:28.533478-04:00https://www.thetrustedinsight.com/investment-news/1842-universal-investment-stratton-street-launch-renminbi-ucits-20131002842/
Universal-Investment and Stratton Street have jointly launched the Stratton Street UCITS UI Renminbi Bond Fund, based on Stratton Street's existing renminbi strategy...
Soros Adviser Turned Lawmaker Sees Crisis by 2020: Japan Credit
2013-10-02T10:46:16.254478-04:00https://www.thetrustedinsight.com/investment-news/1839-soros-adviser-turned-lawmaker-sees-crisis-by-2020-japan-credit-20131002839/
Takeshi Fujimaki, a former adviser to billionaire George Soros and now a member of Japan's upper house of parliament, said a fiscal crisis in Asia's second-biggest economy is inevitable and neither a...
John Paulson goes long on Puerto Rico
2013-09-24T14:28:56.034051-04:00https://www.thetrustedinsight.com/investment-news/1746-john-paulson-goes-long-on-puerto-rico-20130924746/
John Paulson, the hedge fund manager who came to prominence betting against the US housing market before its crash, has taken another contrarian position, with an investment in Puerto Rico that he say...
Buffett Calls Fed History's Greatest Hedge Fund
2013-09-24T14:21:25.011800-04:00https://www.thetrustedinsight.com/investment-news/1745-buffett-calls-fed-historys-greatest-hedge-fund-20130924745/
Billionaire investor Warren Buffett compared the U.S. Federal Reserve to a hedge fund because of the central bank's ability to profit from bond purchases while accumulating a balance sheet of more tha...
Fed Leaves Hedge Fund Bears Waiting on Emerging-Markets Bet
2013-09-24T14:11:49.012302-04:00https://www.thetrustedinsight.com/investment-news/1742-fed-leaves-hedge-fund-bears-waiting-on-emerging-markets-bet-20130924742/
Ray Bakhramov has been waiting almost two years for his hedge fund's bet against emerging markets to pay off, which spurred a 20 percent loss in 2012 and cost him clients. Even with a slump from bonds...
Nigeria Sovereign Wealth Fund Invests $200m In US Bonds
2013-09-18T14:31:40.450440-04:00https://www.thetrustedinsight.com/investment-news/1683-nigeria-sovereign-wealth-fund-invests-200m-in-us-bonds-20130918683/
The Nigerian Sovereign Wealth Fund (SWF) has invested $200 million, via its management partners, in the US bond market....
Risk rethink needed, says Future Fund
2013-09-10T11:40:23.938987-04:00https://www.thetrustedinsight.com/investment-news/1575-risk-rethink-needed-says-future-fund-20130910575/
Future Fund managing director Mark Burgess says investors need to review their risk appetite after booming investment returns added nearly $12 billion to the coffers of the fund and helped it register...
How long can hedge funds benefit from Abenomics?
2013-08-28T11:37:39.669527-04:00https://www.thetrustedinsight.com/investment-news/how-long-can-hedge-funds-benefit-from-abenomics-20130828344/
Masahiro Koshiba on Opalesque Backstage Masahiro Koshiba, CFA, holds one of the longest & most successful track records in the Japanese hedge fund industry. He serves as the President of United Managers Japan (UMJ) and also manages the UMJ Kotoshiro fund which seeks to generate attractive absolute returns by investing in Japanese long-short equities.
The fund uses a multi factor approach to portfolio construction using Micro Analysis, Macro Analysis, Technical Analysis and Portfolio analysis. By focusing on risk management, the returns of the fund are expected to have a low correlation to the market.
In this Opalesque.TV BACKSTAGE video, Koshiba talks about:
* How does he manage to outperform most of his peers?
* How long can hedge funds benefit from Abenomics?
* The impact of Abenomics on Japanese Equites and the Kotoshiro Fund
Masahiro Koshiba, CFA. has over 26 years industry experience including 22 years in fund management. He started his career in 1986 at Daiwa Securities. He was Head of the Japanese large-cap equity management division at Deutsche Asset Management, and before founding UMJ in 2004 he was a Co-Founder of Japan Advisory where he served as Senior Advisor & Risk Manager of the Whitney New Japan Fund and the Whitney New Japan Select Fund. Japan Advisory's AUM grew from $10 million to more than $3 billion (Dec 2005). Masahiro Koshiba is a Chartered Financial Analyst and has a B.A. in Law from Doushisha University. He is also a member of The Security Analyst Association of Japan (CMA).
DISCLAIMER:
The UMJ Kotoshiro International Feeder Fund performance returns are unaudited and are net of incentive and management fees. Returns of the individual feeder funds may vary due to allocations of expenses, hot issue allocations, etc. UMJ Kotoshiro Fund's performance does not guarantee the same future results. This document is not an invitation or an offer to purchase interests in any fund. Such an offer may be extended only after you received an offering memorandum and subscription agreement concerning the prospective investment that you desire. This report is incomplete and does not include all of the information material to a decision to invest in the Funds, including, but not limited to, the risks of such investment. Past performance is not a guarantee of future performance.
Argentina to Reopen Debt Swap After Adverse U.S. Court Ruling
2013-08-27T14:47:36.106523-04:00https://www.thetrustedinsight.com/investment-news/1432-argentina-to-reopen-debt-swap-after-adverse-us-court-ruling-20130827432/
Argentina will send a bill to Congress tomorrow to reopen a debt restructuring for those creditors who haven't accepted previous swaps after the nation's 2001 default, said President Cristina Fernande...
Mexican Pension Regulator Approves Schroders Investment Mandate
2013-08-20T11:34:44.252798-04:00https://www.thetrustedinsight.com/investment-news/1332-mexican-pension-regulator-approves-schroders-investment-mandate-20130820332/
MEXICO CITY--Mexico's pension fund regulator, Consar, said Monday it has authorized the pension system's first international investment mandate, for Citigroup Inc.'s (C) local pension unit, as part o...
Jim Leech: The State of Pension Plans
2013-08-13T12:12:43.165486-04:00https://www.thetrustedinsight.com/investment-news/jim-leech-the-state-of-pension-plans-20130813335/
Originally broadcast on The Agenda with Steve Paikin, May 28, 2013 In his years at the Ontario Teachers' Pension Plan, Jim Leech has been involved in several high-profile deals and managed Canada's largest single-profession pension plan through some of the most volatile market periods in our history. As he plans for his retirement at the end of this year, Jim Leech shares his advice for other pension plans.
Norway's $760 bln oil fund increases bet on equities
2013-08-12T09:27:24.836019-04:00https://www.thetrustedinsight.com/investment-news/1184-norways-760-bln-oil-fund-increases-bet-on-equities-20130812184/
OSLO, Aug 9 (Reuters) - Norway's sovereign wealth fund, one ofthe world's biggest investors, returned 0.1 percent on itsportfolio in the second quarter of 2013, beating its ownbenchmark index by 0.3...
Pharo Macro Bet on Greek, Spanish and Italian Debt Turns Sour
2013-07-31T11:28:04.806730-04:00https://www.thetrustedinsight.com/investment-news/1041-pharo-macro-bet-on-greek-spanish-and-italian-debt-turns-sour-20130731041/
All the volatility and market turmoil shook the returns of Pharo Macro Fund, down 2.1% in last month. The global macro hedge fund strategy is up 7.6% for the year. Last month the fund was up 2.3% with gains from shorts in U.S. treasuries and longs in Greek government bonds...
Japan's temples, universities, hospitals haunted by yen bets
2013-07-23T10:34:43.583447-04:00https://www.thetrustedinsight.com/investment-news/909-japans-temples-universities-hospitals-haunted-by-yen-bets-20130723909/
KOYA, Japan (Reuters) - Ryusho Soeda, 66, has taken on a job for which his career as a Buddhist priest never prepared him: forensic accounting.Soeda's temple is the 1,200-year-old Koyasan, a World Her...
Hedge funds spot opportunities in Poland sell-off| Reuters
2013-07-17T10:48:03.555252-04:00https://www.thetrustedinsight.com/investment-news/828-hedge-funds-spot-opportunities-in-poland-sell-off-reuters-20130717828/
WARSAW/LONDON, July 15 (Reuters) - Hedge funds are bettingagainst Poland's sovereign bonds and currency, taking advantageof a sell-off in emerging markets and slowing domestic growth totarget a countr...
Financial News: Hedge Funds Bet Against Emerging Markets - WSJ.com
2013-07-17T10:43:06.443239-04:00https://www.thetrustedinsight.com/investment-news/826-financial-news-hedge-funds-bet-against-emerging-markets-wsjcom-20130717826/
Hedge fund managers are positioning themselves to profit from a slowdown in developing economies, led by overheated credit markets in China. A number of them are buying protection on sovereign debt t...
A Cruel, Cruel Summer for US Credit Funds
2013-07-10T10:54:36.161925-04:00https://www.thetrustedinsight.com/investment-news/712-a-cruel-cruel-summer-for-us-credit-funds-20130710712/
It looks like a brutal summer for bond investors as the bloodbath in the US credit market shows no signs of easing....
Yen Tumbling 9% Splits Top Forecasters From Futures: Currencies - Bloomberg
2013-07-09T14:04:47.165218-04:00https://www.thetrustedinsight.com/investment-news/706-yen-tumbling-9-splits-top-forecasters-from-futures-currencies-bloomberg-20130709706/
The most accurate foreign-exchange forecasters expect the yen to fall about 9 percent this year to levels not seen since 2008, putting them in opposition to futures traders who are paring bets on a de...
Pension funds take more risk with your money - Telegraph
2013-07-08T17:00:01.172621-04:00https://www.thetrustedinsight.com/investment-news/676-pension-funds-take-more-risk-with-your-money-telegraph-20130708676/
More final salary schemes could close if aggressive investment strategies do
not deliver expected returns....
Gross Caught in TIPS Trap Gundlach Sidestepped in Tumble - Bloomberg
2013-07-03T16:05:12.090025-04:00https://www.thetrustedinsight.com/investment-news/610-gross-caught-in-tips-trap-gundlach-sidestepped-in-tumble-bloomberg-20130703610/
On April 19, three weeks before he called the end of the 30-year bull market in bonds, Bill Gross said he was buying inflation-linked Treasuries, a bet that money printing by the world's central banks...
World's Worst Real Estate Bonds Targeted in Crunch - Bloomberg
2013-06-24T11:37:35.598291-04:00https://www.thetrustedinsight.com/investment-news/451-worlds-worst-real-estate-bonds-targeted-in-crunch-bloomberg-20130624451/
China's builders have been the world's worst-performing real-estate bonds this quarter as Premier Li Keqiang allowed a record cash crunch to rebalance the economy away from property investment....
Hedge funds brace for renewed debt crisis| Reuters
2013-06-18T16:11:42.221100-04:00https://www.thetrustedinsight.com/investment-news/372-hedge-funds-brace-for-renewed-debt-crisis-reuters-20130618372/
MONACO, June 18 (Reuters) - The euro zone's debt crisis maybe far from over, while Japan's money-printing gamble to reviveits economy could destabilise global markets if it doesn't work,some hedge fun...
Liquidity Detox: Prepare for the Shakes - Forbes
2013-06-18T12:17:49.571445-04:00https://www.thetrustedinsight.com/investment-news/368-liquidity-detox-prepare-for-the-shakes-forbes-20130618368/
Dramatic volatility is nearly certain as the central banks pare back their extraordinary liquidity programs. Get prepared....