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Hedge Funds Technology Costs

Hedge Funds Technology Costs

Hedge Fund Technology Costs to Reach $2 Billion in 2011

Recent projections have hedge funds spending an estimated $2 billion on technology in 2011.  Investments in collateral, risk, and data management technology have steadily climbed over the years as the industry matures and systems become more complex and sophisticated.
Hedge funds will spend over $2 billion on technology in 2011, with investments in data management platforms and collateral optimisation tools accounting for a significant share of overall expenditure, according to a survey by Citi Prime Finance. 
The level of technology investment among hedge funds, which has in the past been characterised as "two guys and a Bloomberg" operation, is reflective of the growing maturity and institutionalisation of the industry, says Sandy Kaul, US head of the business advisory services team within Citi Prime Finance, which conducted the survey. 
"The annual technology spend of hedge funds amounts to almost 10 basis points of industry AUM [assets under management], which may surprise people who tend to think of hedge funds as infrastructure-light organisations," she says. 
"We found that hedge funds are among the most sophisticated and innovative users of technology in the financial services industry." Source

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Hedge Funds Redemptions 2011

Hedge Funds Redemptions

Hedge Fund Industry Fears New Wave of Redemptions

Investors have been unsettled after more than a month of shaky markets and poor performance by many hedge funds.  Now, the hedge fund industry is largely bracing for a big wave of redemptions.  Man Group (EMG) has contributed to this fear after it announced investors pulled a whopping net $2.6 billion from its funds from June 30 to August 26.
The world's largest listed hedge-fund manager, Man Group PLC , stoked fears of another industry meltdown Wednesday when it reported a net $2.6 billion was pulled from its funds between June 30 and Sept. 26. It lost a further $1.5 billion from fund losses and $1.9 billion from the effect of a stronger U.S. dollar when accounting for euro- and Australian dollar-denominated funds. Its GLG unit, acquired last year, posted particularly large outflows.
Man Group shares fell as much as 25% in London. 
Aberdeen Asset Management PLC (ADN.LN), a U.K. fund manager with about GBP26.2 billion of its GBP176.9 billion in alternative investment strategies, Monday said those funds lost about GBP2.2 billion between June and August from redemptions and performance losses.
Despite volatile markets this year, redemptions have been relatively subdued for most hedge funds, but high-profile losses over the summer and the deepening euro-zone debt crisis and economic gloom could send investors toward the exits. Most large managers of long-only equity and bond funds posted outflows last week, data provider EPFR Global said Monday, highlighting how investors are taking risk off the table. Source

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Asian Hedge Funds Recovery

Asian Hedge Funds Recovery

Asian Hedge Funds Short of Recovery Amid Recession Fears

While Asian hedge funds have performed better recently than in prior years, the Asian hedge fund industry is still far short of pre-crisis AUM levels. Now, with the economic slump and fears of another recession, investors are not expected to invest enough to push Asian hedge funds to pre-crisis levels.
Asia's hedge funds industry is seen struggling to regain its pre-crisis size any time soon as the recent global market slump threatens to deter investors from making fresh allocations to them and delay new product launches.

That is bad news for the dozens of start-ups, prime brokers and service providers who have set up shop or expanded in Asia in the hope of capital returning to the region.

Regional hedge fund assets contracted 5 percent in the first half of 2011 to $145 billion (93 billion pounds), $47 billion below the peak level hit in December 2007, as defensive portfolios clipped returns and investors started applying the brakes to capital re-allocations, new data released by industry tracker AsiaHedge on Monday showed.

By contrast, the global industry regained its pre-crisis asset levels last year and subsequently scaled new highs of above $2 trillion, according to data from Hedge Fund Research.

Even though total assets of Asia-focused hedge funds are probably higher -- with many large funds not disclosing their assets to data providers -- industry insiders say assets remain well below peak levels.

"Given the mess the world appears to be in, I just don't see risk appetite returning this year," said Peter Douglas, founder of Singapore-based hedge fund consultancy GFIA Pte. Source

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Hedge Fund Managers Gold

Hedge Fund Managers Gold

Hedge Funds Hold Strong on Bullish Gold Bets

While many funds and investors have been lowering their gold holdings after the huge rise in the price of gold in August, hedge funds are staying with gold.  Hedge fund managers are apparently convinced that gold will still be profitable in an uncertain global economy with double-dip recession fears and the European debt crisis.
Gold has dropped around 11 percent since the start of last week as liquidity-strapped investors scrambled to convert gold into cash amid fears over Greece's near-bankruptcy, likely hitting a number of hedge funds which have profited from its bull run in recent years.

However, the yellow metal is still around 7 percent above its level at the start of July, and is up 14 percent this year, leaving long-term holders comfortably in the black for now.

"I don't think... people who hold it as another currency... are changing their view," said Morten Spenner, chief executive of $2.8 billion fund of funds firm International Asset Management (IAM).

"For some people who are long-term holders ... and who have banged that drum, they're likely to take it (the price fall)," Spenner said, adding that short-term market volatility that put pressure on the price of gold would not sway managers to abandon their positions.

Some big-name hedge fund managers have been successfully betting on the gold price this year, including John Paulson and Paul Tudor Jones.  Source

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Inflation Protection Hedge Fund

Inflation Protection Hedge Fund

R.G. Niederhoffer Launches Inflation Protection Hedge Fund

Many investors are worried about how inflation will affect their portfolios and how they can insulate themselves from inflation.  R.G. Niederhoffer is now proposing a solution in the form of an inflation protection hedge fund.  The fund aims to limit exposure to inflation by betting long on commodities and short fixed income.
The R.G. Niederhoffer Inflation Protection Program, which started operations in August and gained 4.5% in its first month of trading, combines short-term long-side trading in commodities and short-side trading in fixed income with bi-directional trading in equities and foreign exchange, according to a source close to the fund. 
The new vehicle—iHedge—will be long commodities and short fixed income at the end of each trading day to protect against inflation expressed as rising commodity prices or rising interest rates. 
The core driver of the fund is the same as that of R.G. Neiderhoffer Capital Management’s 18-year-old Diversified Program, which uses a short-term, quantitative (primarily although not exclusively) contrarian approach to trade multiple asset classes. The fund will hold positions for an average of one to three days, with certain positions—long commodities and short fixed income—held for up to a few weeks, and will offer monthly liquidity. An offshore version will begin trading in September. Source

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Asian Hedge Fund Performance 2011

Asian Hedge Fund Performance 2011

Asian Hedge Funds Look to Outperform Global Rivals

Asian hedge funds appear set to outperform their global counterparts, according to preliminary data.  Asian hedge funds have made pretty steady gains since this year began and have showed no signs of a major backslide.  This is, of course, good news for Asian hedge fund managers who had previously struggled to raise assets under management.
This, after two years of contraction resulting with a bottoming out in 2010 when assets under management fell to US$15 billion.

Asian hedge funds have been attracting net inflows, as money leaves Europe seeking better returns.

Based on research from Eurekahedge, net flows to Asia ex-Japan hedge funds stand at US$5.5 billion, compared to US$2.1 billion of net flows for the whole of 2010. This bodes well for Singapore's financial services sector, which is constantly looking to reinvent itself.

Singapore is now ranked fourth internationally as an asset management centre, behind London, New York and Hong Kong. That is according to the latest Global Financial Centre Index published this March by the Z/Yen, the City of London's commercial think tank.

Brian Thung, Partner (Financial Services) with Ernst & Young and an Executive Committee member of AIMA Singapore, said: "It has very large knock-on and spin-off effects on the service providers here in Singapore - the legal industry, the fund administration industry and that has created quite a bit of employment.  Source

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Hedge Fund Investor Confidence

Hedge Fund Investor Confidence

Investors Still Confident in Hedge Fund Managers

Although investors are still withdrawing money from hedge funds at a modest rate, it is less than in past months. According to data from the GlobeOp Forward Redemption Indicator, September 2011 was the lowest September in the indicator's history showing that despite a very turbulent market, investor confidence in hedge funds remains largely unshaken.
"September 2011 was the lowest September since the Index began," said Hans Hufschmid, chief executive officer at London-listed GlobeOp Financial Services . "Investor sentiment continues to be positive," he said.

Investors representing 2.71 percent of GlobeOp's assets under administration requested their money back in August, reflecting a rise in redemption demand of 63 basis points against July's data.

Redemption notices hit a high of 19.27 percent in November 2008 shortly after the collapse of Lehman Brothers but since have trended lower as investors back hedge funds to help them ride out some of the most volatile stock and bond markets since 2008.

Hedge fund returns have proved a mixed bag in recent months.
Source

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Convertible Arbitrage Hedge Fund Strategy

Convertible Arbitrage Strategy

Convertible Arbitrage Strategy Hit Hardest in August Turmoil

Many hedge funds are still reeling from last month's market turmoil.  Some strategies were typically hit harder than others during the volatility.  Convertible arbitrage was the strategy punished most in August according to recent data. 
Hedge funds were impacted by a severe downward swing in August, when the S&P 500 index suffered its heaviest losses since May 2010, dropping 5.43 %.
Jumpy investors exacerbated the problem, sending the markets’ implicit volatility to 31.6 %, its highest level since June 2010.
Fixed income markets were not spared either, with convertible bonds dropping by 4.49% for a fourth consecutive month of losses.
The EDHEC-Risk Institute, which tracks the performance of hedge fund vehicles, reports that convertible arbitrage was the fund strategy punished most by the ‘plummeting convertible bonds and shrinking credit spread’.
Convertible arbitrage involves the simultaneous buy-up of convertible securities and the short sale of the same issuer’s common, or corporate equity, stock. Source

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SEC CDO

SEC CDO

SEC Approves New Rule Regulating Hedge Funds & CDOs

Hedge funds can expect a new wave of regulations associated with the Dodd-Frank Act as the SEC just voted to regulate CDOs more strictly.  The Securities and Exchange Commission voted unanimously to enforce new rules that will regulate the way that hedge funds use collateralized debt obligations.  The rule prevents firms that sell securities to investors from subsequently shorting those securities for at least a year. 
The regulator unanimously voted today to approve a new conflicts of interest rule for asset-backed securities. The new rule, mandated by last year's Dodd-Frank law, would both bar firms that package the securities from shorting them for one year following their sale to investors, and would also bar banks from allowing third parties—read: hedge funds—to short ABS they had a hand in selecting the securities for.
The rule stems from the SEC's case against Goldman Sachs, which resulted in a $550 million settlement with the bank. The regulator accused Goldman of structuring and marketing a collateralized debt obligation on behalf of Paulson & Co. without informing investors that Paulson participated in the asset selection—or that the hedge fund was shorting the CDO.
Since then, the SEC has launched probes into several other CDO transactions, several linked to Magnetar Capital.
None of the hedge funds tied to those transactions has been accused of wrongdoing. Source

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Boston Capital Raising Workshop

Full Day Capital Raising Workshop

Capital Raising Workshop in Boston, MA on September 22nd

Only 37 Seats Left for Next Thursday's Full Day Capital Raising Workshop in Boston

Less than one week from today we are hosting a full day workshop on how to raise capital from ultra affluent investors and family offices. By attending this workshop you will learn how to partner with these types of investors, communicate with them, add value to them, find them, network with them, and ultimately raise more capital from them.

We have 37 seats left for registration, to reserve your spot:

1) Please click here: http://hedgefundgroup.org/Family-Office-Workshop.html

2) Use our PDF order form here: http://hedgefundgroup.org/Family-Office-Workshop.pdf

3) Pay over the phone by calling our team at (212) 729-5067

See you next Thursday in Boston!




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Hedge Fund Industry Growth Rate

Hedge Fund Industry Growth Rate

Hedge Fund Industry Growth Rate Slows, 18 Less New Funds

The growth rate of the hedge fund industry has slowed, although there continue to be hedge fund startups.  In the second quarter of 2011, 280 new hedge funds opened their doors.  However, that number is 18 less than the previous quarter.
The year's second three months welcomed 280 new hedge funds to the world, Hedge Fund Research data shows. That's down 18 from the number of hedge funds that launched in the first quarter, while the number of hedge funds closing their doors in the second quarter, 191, was 10 more than in the previous quarter, an attrition rate of 2.07%. 
Still, growth is growth, allowing the hedge fund industry to reach a record $2.04 trillion in assets. And despite the second quarter's slowdown, the first half remains the strongest half-year for hedge fund launches in four years. 
"The first half of 2011 was a strong environment for new hedge fund launches, with the industry on pace to approach the full-year total of nearly 1,200 launches in 2007," HFR President Kenneth Heinz said. "While lower fees continue to be supportive of this growth trend, the evolution of fund transparency is also a significant factor driving new fund launches." 
Indeed, both management and performance fees continue to decline in the second quarter, the latter to an average of 18.81%. But funds launched in the past year are charging the least for performance in six years, an average of 17.56%. Management fees edged down slightly to 1.57%. Source

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Bruce Kovner Caxton

Bruce Kovner Caxton

Bruce Kovner Hopes for Smooth Transition to Andrew Law

A recent trend in the hedge fund industry is high-profile hedge fund managers stepping down and handing off control to a successor. However, in the case of managers Stanley Druckenmiller and Julian Robertson, the transition has been less than smooth and led to the funds returning investor money. Now, Bruce Kovner is stepping down and hoping that his fund Caxton Associates LP will retain investor money despite Andrew Law taking the helm.
Kovner yesterday named chief investment officer Andrew Law, 45, to run his $10 billion Caxton Associates LP. Kovner, 66, who started the New York-based firm in 1983, told clients in a letter that he will retire by the end of the year to pursue personal interests. Peter D’Angelo, 64, the firm’s president and co-founder, will also step aside. 
Caxton is confronting a difficult challenge for a growing number of hedge funds: managing succession in a business where success is built on the founders’ trading skill and reputation. Unlike private-equity firms such as Blackstone Group LP, which transformed themselves from private investment partnerships into public, diversified asset managers, top hedge funds from Robertson’s Tiger Management LLC to Druckenmiller’s Duquesne Capital Management LLC returned investor money after the founders stepped back. 
“Hedge funds haven’t done a great job at succession planning,” said Myron Kaplan, a partner at New York law firm Kleinberg, Kaplan, Wolff & Cohen PC who advises hedge funds. “The key is to institutionalize the firm and change investors’ perceptions of the fund as a single guru’s shop.” Source

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High-Frequency Trading: Alpha Discovery and the New Arms Race

High Frequency Trading Market Data

High-Frequency Trading: Alpha Discovery & the New Arms Race

 By Peter Curley of Xignite

Perhaps nowhere more in the diverse world of hedge fund strategies is the prospect of alpha decay more unsettling than at high-frequency trading firms. In many ways high-frequency trading firms are now facing a reality that other hedge funds with more esoteric strategies may one day face – too much money chasing a finite amount of alpha.

The End of the Hardware Arms Race

The latest figures indicate that high-frequency trading now accounts for somewhere between 60-70% of trading volume in the US. This is up from around 35% just five short years ago. High-frequency trading firms, that in the past have been among the most profitable on Wall Street, are now seeing that increased competition has crowded out many of their traditional strategies. High-frequency trading firms have responded by co-locating their black boxes and by throwing ever more expensive hardware at the problem. This approach has worked for some of the larger, better-funded firms, but only postpones the inevitable.

What will happen when this hardware arms race meets the laws of physics? The answer is that many of these firms will need to develop high-frequency trading strategies where alpha is still relatively abundant and competition less fierce.



New High-Frequency Trading Alpha Opportunities

The two most common opportunities that high-frequency trading are now exploring are as follows:

1. Alpha outside the US – The US was the first to develop electronic trading, other regions are still in the process of building out their electronic trading infrastructure. A recent Credit Suisse study estimated that high-frequency trading activity accounts for 35% in Europe and only 10% in Asia (excluding Japan). Many high-frequency trading firms are now seeking to port the strategies that worked so well in the US over to these less developed markets.

2. Multi-Dimensional Strategies – The traditional strategies of high-frequency trading have typically been one-dimensional involving the high-frequency trading in and out of a single large, liquid name. The newer high-frequency trading strategies are much more complex and multi-dimensional in nature searching for arbitrage opportunities across asset-classes, geographies etc.

The New Arms Race and Cloud-based Market Data

The common thread that runs through these new strategies is the need for access to more diverse and dispersed market data sets. Market data has always been the lifeblood of high-frequency trading firms. It has also been one of the real pain points of this industry with the requirement to build out large infrastructures to manage and query terabytes of information. This new world of alpha discovery means that high-frequency trading must now potentially analyze vastly greater amounts of data to discover opportunities. Furthermore, the competition to discover these new opportunities will be intense. In this new world alpha will also be more fleeting as firms quickly clone successful strategies. The new high-frequency trading arms race will be all about alpha discovery and time to implementation.

As the high-frequency trading industry’s search for alpha switches from a hardware focus, to a discovery/speed of implementation focus, it is clear that firms with access to large and diverse data sets, that are easy to query and work with, will be at a distinct competitive advantage. The traditional method of downloading vast data sets to a firm’s own data center will not work because of the cost and time delays involved. The only solution that is flexible enough to assist in such rapid discovery and implementation is a Cloud-based approach, where small sub-sets of global multi-asset class market data can be quickly isolated and analyzed. Xignite is the only firm committed to this vision of large, diverse sets of Cloud-based data, all made accessible by our easy-to-use web services, that require no infrastructure, and that can implemented in a matter of minutes.

As this new arms race intensifies and the search for alpha becomes increasingly more desperate we will see more and more high-frequency trading firms abandon their in-house data management infrastructures for the flexibility and breath of data that Xignite’s Cloud-based solution offers.  

This guest post was submitted by Peter Curley of Xignite a hedge fund market and reference data provider.

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World Bank Hedge Fund

World Bank Hedge Fund

World Bank Arm Invests $100 Million in NY Hedge Fund

The World Bank has made an interesting investment: $100 million to a young hedge fund.  International Finance Corp, a part of the World Bank, has a history of investing in private equity funds but this is the first attempt to invest in hedge funds.  The move is part of an attempt to help banks with new capital requirements.   Christofferson Robb & Co. CRC will receive $100 million and look to raise $300 million from outside investors.
The fund will put up cash to cover unexpected loan losses in return for a cut from the bank. The fund’s cash will lower the banks’ requirements under the Basel capital rules and reduce the impact of planned tighter rules. IFC hopes the fund will encourage an extra $2.5bn to $4bn of lending to developing countries.
Xavier Jordan, chief investment officer at IFC, said there was a risk that banks facing new capital demands would cut back their riskier loans in order to hoard capital. “It’s the implications about constrained access to capital for European banks and the implications for emerging markets,” he said.
The fund will operate mainly with big international banks. They will be required to recycle the money freed up by the “bilateral synthetic capital release securities” that the fund creates back into developing markets.
IFC has been criticised in the past by some aid groups for involvement in structured products and derivatives.  Source

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American Jobs Act Carried Interest

American Jobs Act Carried Interest

American Jobs Act Includes Tax Increase on Carried Interest

Yesterday, the President addressed a joint session of Congress to unveil his jobs package.  President Obama told Congress that the $447 billion jobs proposal dubbed the American Jobs Act would be 100% paid for.  One way that the package is paid for is through a proposal to change the tax treatment of carried interest.
President Barack Obama sought once again to revive the oft-offered, oft-killed proposal to close the so-called carried interest loophole during his major jobs speech before both houses of Congress last night.
Under the American Jobs Act, a $447 billion plan that seeks to improve the employment and economic environment, hedge fund and private equity managers would have to pay the ordinary income tax rate on their performance fees, rather than the capital gains rate they currently pay. That could increase taxes on alternative investments players by billions—the top ordinary tax rate is more than twice the capital gains rate.
Of course, Obama's bill is not likely to pass either quickly—as he urged yesterday—or in its current form. Republicans have on several occasions over the past several years blocked any effort to close the carried-interest loophole, going to the mat to block it during the negotiations to raise the U.S. debt limit earlier this year.
"While most people in this country struggle to make ends meet, a few of the most affluent citizens and most profitable corporations enjoy tax breaks and loopholes that nobody else gets," the president said. "While corporate profits have come roaring back, smaller companies haven't. So for everyone who speaks so passionately about making life easier for job creators, this plan is for you."  Source

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Small Hedge Fund Investors

Small Hedge Fund Investors

Hedge Funds Rejecting New Investors to Stay "Nimble"

In the aftermath of the financial crisis, it was assumed that smaller hedge funds would be severely hit by expensive regulation and investors who favored larger institutional funds.  However, three years later, many small and midsize hedge funds are faring quite well, in fact, some are faring too well.  At least, that's what one must surmise upon seeing a number of rapidly growing hedge funds actually turn away new investors.
But three years later, some small and midsize managers are flourishing, attracting assets at a rapid rate. Rather than risk their returns, they are just saying no to new investors.
RouteOne Partners and Point Lobos Capital, started by alumni of the approximately $21 billion fund Farallon Capital Management, stopped accepting new money. Brenner West Capital Advisors, which tripled its size to about $480 million in less than a year, did the same this month, according to people with knowledge of the fund. Jericho Capital and the Redmile Group raised hundreds of millions of dollars before turning away new clients. 
“There was a period where the bulk of the money was flowing to the very largest players, and now it’s trickling down,” said Dean C. Backer, global head of sales and capital introduction at Goldman Sachs in prime brokerage. “From the manager’s perspective, there are folks who really just want to be disciplined in terms of how they build their business.” 
Lakewood, RouteOne, Point Lobos and Brenner West declined to comment. Redmile and Jericho did not respond to requests for comment. Source

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Asian Hedge Fund Performance

Asian Hedge Fund Performance

Asian Hedge Funds Outperformed Global Rivals in August

Asian hedge funds outperformed their global peers in August 2011 during that month's high volatility.  While many hedge funds around the world were hit hard by the up-and-down movements in the stock market from the European sovereign debt crisis and the slump in the financial stocks.
About 80 Asia-focused hedge funds reported an average 2 percent decline and median loss of 1.5 percent last month, according to data from Credit Suisse Group AG’s prime brokerage unit. Hedge funds worldwide lost on average 3.5 percent, the worst month since October 2008, according to Hedge Fund Research Inc.’s HFRX Global Hedge Fund Index.
Funds run by Vulpes Investment Management, Titan Capital Group LLC and Juggernaut Capital Management helped Asian hedge funds last month overcome a history of underperformance in market slumps. Asian strategies lost 21 percent in 2008, compared with the average industry decline of about 11 percent, according to Singapore-based Eurekahedge Pte.

“Asian hedge funds have done a great job of managing risk amid volatile markets,” said Matt Pecot, head of Asia-Pacific prime services at Credit Suisse in Hong Kong. “This resilient performance is a strong affirmation of the increasing sophistication of Asian managers, and a positive signal for greater capital flows into hedge funds active in the region.” Source

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Are You Tired of Trying to Raise Capital With No Success?

Are You Tired?


Are you tired of watching other funds raise capital faster and more effectively than you?  Chances are that part of the reason why your competitors are succeeding is that they are targeting one of the fastest growing investor types: family offices.  If you do not have a targeted strategy for raising capital from family offices then you should absolutely attend our full day capital raising workshop.  

By attending this workshop you will receive training on capital raising best practices, family office marketing, capital networks, and the compliance pitfalls of raising capital from UHNW and HNW investors. Enjoy the fully catered breakfast, lunch, and the peer networking sessions included with your registration.  If you're ready to learn how to effectively raise capital from family offices visit this page.  

This workshop costs $797 for one participant, $997 for two participants, and it is scheduled for Thursday September 22nd, 2011 from 8:00AM to 4:00PM EST at the Harvard Club of Boston located at 374 Commonwealth Avenue Boston, MA 02215 (Directions)

Don't Delay!

Seating is Limited Due to Room Size and Catering: As of 8/28/2011, there are just 74 seats left for this event. Seats are sold on a first-come, first-served basis. To register or learn more about this full-day workshop please read below. If you need to print out the details on this workshop please download our workshop brochure in PDF format.

Our team has hosted dozens of workshops and events and we structure them so that no service providers are allowed to participate, no guest speaker pitching is allowed, and we guarantee that you will get massive value from the workshop. If you are not satisfied we will give you all of your money back, no questions asked.

What You Will Gain from this Capital Raising Workshop

If you're still debating whether this conference will help you raise capital, consider what you'd be missing out on (and what your competitors will be learning):
  1. The 7 Proven Strategies for Raising Capital Every Quarter from family offices and high net worth prospects; these are actionable strategies that anyone can implement to raise more capital.
  2. The common compliance pitfalls of raising capital in this area including: a live Q & A session with a leading fund compliance attorney with specific experience in crafting capital raising agreements
  3. Four $100,000 capital raising mistakes are almost always made and how you can avoid those and use these lessons to your advantage
  4. Some of the capital raising tactics and concepts that we will present include The Capital Raising Funnel, The Angels & Demons Strategy, the Horse Betting Wedge, and the HNW Avatar Model
  5. 1 full-hour of post-event capital raising strategy and marketing material feedback on your pitch book and marketing materials directly from Richard Wilson. This allows you to apply what you have learned, explain how you are trying to raise capital and get direct email feedback from Richard Wilson on what you should consider changing and improving.
Why Not Attend This Conference?

At the Hedge Fund Group, we understand that your time and your money are valuable to you.  That is why we have instituted a guarantee that this will be a productive use of your day. If you attend this conference and find that you don’t get at least $5,000 of value, the Hedge Fund Group will give you 100% of your money back. You will also be allowed to keep the e-books and swipe files for your trouble.

You may be wondering how can we afford to make this offer.  The Hedge Fund Group can make this offer because we have included so many valuable interviews, reports, tips, strategies, templates and best practices that we are confident you will benefit from this workshop. The last time the Hedge Fund Group offered this workshop not a single person in the crowd requested a refund and everyone received a ton of value from the full-day training workshop.  If you are ready to secure your seat for this capital raising workshop simply click here. 

Your loss is your competitors' gain, so make sure that you're ahead of the capital raising curve by registering for this important event.

Related to: Full Day Capital Raising Workshop in Boston

Tags: Full Day Capital Raising Workshop in Boston, Boston Hedge Funds, Investment funds in Boston, Boston Conference, Hedge Fund Conference, Family Office Conference, Capital Raising Conference, Fund Marketing Conference, Investment Fund Marketing Conference, Third Party Marketing conference, Capital Raising Workshop

Link to This Resource: Are You Tired of Trying to Raise Capital With No Success?

http://richard-wilson.blogspot.com/2011/09/are-you-tired-of-trying-to-raise.html

Hedge Fund Market & Reference Data

Hedge Fund Market & Reference Data Providers

Xignite is the leading cloud services provider of on-demand financial market data and award-winning on-demand data distribution solutions. Xignite's market data cloud fulfills more than five billion service requests per month and offers more than 50 financial Web Services providing real-time, historical and reference data for global equities, commodities, currencies, options, fixed income, mutual funds, derivatives and OTC instruments.

Xignite solutions power mission-critical applications for front, back and mid-office, investor relations, dashboards, e-commerce, wireless applications and financial websites for more than 900 clients in 47 countries, including Citi, GE, Wells Fargo, ING, BNY Mellon, Natixis, Dow Jones, Forbes.com, SeekingAlpha, ExxonMobil, Starbucks, and Barrick Gold. The award-winning XigniteOnDemand cloud platform also powers on-demand market data distribution solutions for stock exchanges, trading venues, OTC brokers and market data originators including the CME Group, NASDAQ OMX, BGCantor and Pearson.

To learn more please visit http://www.xignite.com/ or call Toll-Free: 1-866-XML-SOAP (1-866-965-7627)

To have your listing added to this page please email Richard at Richard@HedgeFundGroup.org

Related to: Hedge Fund Market & Reference Data Providers
Tags:hedge fund market data, market data for hedge fund managers, market data for hedge funds, reference data for hedge fund managers, hedge fund reference data

Link to This Resource: Hedge Fund Market & Reference Data

http://richard-wilson.blogspot.com/2011/09/hedge-fund-market-reference-data.html

Emerging Manager Performances

Emerging Manager Performances

Emerging Fund Managers Outperform Established Ones

Recent hedge fund research came up with a surprising conclusion that flies in the face of conventional thinking of investors.  According to Hedge Fund Research data, emerging managers actually outperformed more seasoned, established hedge fund managers.   Managers with 2 years or less of experience had annualized net returns of 9.3%, opposed to 4.5% for established managers.

Fledgling managers may have an edge, fund analysts say, because they aren't weighed down with legacy positions and are free to invest as they see fit.
"You can have more-concentrated positions," says Rajesh K. Aggarwal, an associate professor at the Carlson School of Management at the University of Minnesota who has studied emerging fund managers.
What's more, since hedge-fund managers collect performance-based fees, "the incentives to perform well in a new fund are tremendous," he says.
The term "emerging" is used loosely among fund managers. It can refer to managers at firms with less than $500 million or so in assets and track records of three years or less, though some investors include women- and minority-owned firms.
Historically, such managers were available mainly to pension funds and other institutional investors. But high-net-worth investors increasingly have access to such managers through hedge funds, funds of hedge funds and other vehicles. Source

Related to: Hedge Fund Update

Tags: hedge funds, hedge fund managers, fund managers, emerging manager, emerging managers, hedge fund, emerging fund manager, hedge fund performance, emerging manager performance

Link to This Resource: Emerging Manager Performances

http://richard-wilson.blogspot.com/2011/09/emerging-manager-performances.html
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