Securities—in 2016 and 2017 to encourage young women to look more favorably at a career in finance and investments; to create educational opportunities and access points to support young women who want to join the industry; and to facilitate an ongoing peer network for young women in the industry.
Additionally, five 2015 North American Industry Leadership Award honorees were recognised at the gala for their leadership in good corporate governance and contributions to the industry, as well as their participation in the milestone of 100WHF’s 500th Industry Education event:
Michelle Edkins, Managing Director and Global Head of Corporate Governance and Responsible Investment, BlackRock Bess Joffe, Managing Director, Head of Corporate Governance, TIAA-CREF Rakhi Kumar, Managing Director, Head of Corporate Governance, State Street Global Advisors Anne Sheehan, Director, Corporate Governance, CalSTRS
Anne Simpson, Investment Director, CalPERS
"In their roles as investors, these five outstanding women make decisions on a daily basis that affect the investments and performance of their own funds. As corporate board members, they lead the way as advocates for gender diversity in the board room. In multiple arenas, each is an inspirational model to the young women of the Next Generation who are building their careers in the alternatives industry," said Lauren Malafronte, 100WHF Board of Directors Executive Committee member and Managing Director at Scotiabank.
Since its formation in 2001, 100WHF has raised more than $36 million globally for philanthropic causes in the areas of Women's and Family Health, Education and Mentoring. 100WHF's three core pillars include industry education, professional leverage and philanthropy. The organization’s philanthropic mission is to utilise its collective abilities and expertise in order to give back to the local community in an impactful way. 100WHF’s Board of Directors chooses beneficiaries on a rotating basis, and the global philanthropic theme for 2015 is education. The gala was held at Cipriani 42nd Street with a live performance by the Young People’s Chorus of New York City conducted by Associate Conductor Elizabeth Núñez for over 525 industry guests. Kayla Tausche, CNBC Reporter, served as the evening’s Master of Ceremonies.
SPARX and ML Capital launch UCITS fund SPARX Asia Investment Advisors Limited and ML Capital have launched the SPARX OneAsia Long
Short UCITS Fund, a Pan-Asia market neutral strategy hosted on the MontLake UCITS Platform. MontLake is a leading independent platform for UCITS funds that provides investors with access to a range of liquid, transparent and regulated investment products domiciled in Dublin.
A subsidiary of the long established SPARX Group, SPARX Asia Investment Advisors is based in Honk Kong, and manages and promotes its own funds which invest in securities in the Asian region. The SPARX Group was founded by President and CEO Shuhei Abe in 1989. SPARX Group AUM currently stands at more than USD 8 billion, and boasts a globally diversified and highly selective client base.
The OneAsia investment and research team is led by Hak Kim. Hak has nearly 15 years of experience in the fund management business and is responsible for coordinating SPARX's fundamental research activities across Asia. Prior to becoming a founding member of the OneAsia team, he was portfolio manager at SPARX's Korean subsidiary where he ran a Korea long short fund. The OneAsia team has accumulated expertise on industry/business dynamics in Asia through fundamental research (notably +25 years in Japan, +15 years in Korea and +10 years in HK/Asia), and benefits from extensive on-the-ground research capabilities and the ability to channel the best ideas from Tokyo, Korea, and Hong Kong based investment and research professionals.
Hedge fund diversification highlighted by AIMA, CAIA Association report Hedge fund diversification and the particular benefits that hedge funds offer to a variety of investors is highlighted in a new report by AIMA and the CAIA Association, a global leader in alternative investment education.
The paper, titled ‘Portfolio Transformers: Examining the Role of Hedge Funds as Substitutes and Diversifiers in an Investor Portfolio’, details the specific qualities that different types of hedge funds offer to institutional investors, the main source of capital managed by the hedge fund industry today. The research is based on a “cluster” analysis of the risk and return characteristics of the main hedge fund investment strategies. The paper says that some of the most experienced investors in alternative investments no longer see hedge funds as a standalone allocation but rather as substitutes for investments in equities and bonds or as investments that bring particular diversification benefits.
The new analysis identifies “substitute” strategies – those that could replace a long-only allocation to stocks, bonds and other asset classes - as long/
short equity, long/short credit, event-driven, fixed income arbitrage, convertible arbitrage and emerging markets. “Diversifier” strategies – those that are particularly uncorrelated to the underlying asset class - include global macro, managed futures and equity market-neutral, according to the research.
The paper is the second in a series of publications that AIMA and the CAIA Association are producing for trustees and other institutional investor fiduciaries, an audience traditionally under-served by educational material about hedge funds and other alternative investments.
Jack Inglis, CEO of AIMA, said: “This new paper underlines the heterogeneity of hedge funds today. For every type of fund, there are just as many solutions to investors’ particular requirements.
“The paper also makes it clear that the old distinctions that have underpinned portfolio construction for the last 25 years are disappearing. Pensions, endowments, foundations, insurers and family offices are different entities, with different challenges and divergent investment aims. But what many of them have in common is a wish to see hedge funds as another method of investing in equities, bonds and other asset classes, rather than as a separate asset class. This new thinking promises to transform the risk and return profiles of institutional investor portfolios.”
William J. Kelly, Chief Executive Officer at the CAIA Association, said: “Education is our only product and we are delighted to partner with AIMA on this latest paper. Diversification across multiple asset classes and uncorrelated sources of beta has never been more important, as global equity prices hover near fair value and interest rates remain at or close to zero. Education and informed awareness of any potential solution must be part of this investment process and it is our hope that these papers will continue to add to this understanding.”
BarclayHedge Fund Index gains 2.19% Hedge funds gained 2.19% in October according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index rebounded in October after four months of losses, and is now up 0.69% in 2015. “A global rally in equities fuelled by continued easing in the US, Europe and Japan, together with stabilising economic signs from China helped propel the S&P 500 to a gain of 8.30 percent in October, its strongest showing since October of 2011 when it gained 10.9 percent,” says Sol Waksman, founder and president of BarclayHedge. Fifteen of Barclay’s 18 hedge fund indices had gains in October. Equity Long Bias jumped 3.75%, Emerging Markets were up 3.35%,
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