Thursday 28th May 2015
NEWS TICKER: WEDNESDAY, MAY 27TH: The S&P Capital IQ division of McGraw Hill Financial (NYSE:MHFI) whose CUSIP Global Services (CGS) unit produces identifying instruments and entities that support efficient global capital markets, says Scott Preiss, currently CGS’s Vice President and Chief Operating Officer, has been promoted to the role of Global Head & Managing Director, replacing Jim Taylor, who is retiring, on July 1st, after 28 years of service - Orezone Gold Corporation (ORE-TSX) says a mining permit application has been submitted to the government of Burkina Faso for the construction and operation of its wholly owned Bomboré gold project. The application is based upon the recently announced positive Feasibility Study (April 28, 2015) and includes an environmental and social impact assessment and a relocation action plan (RAP) for the local people affected by the project. The four to eight month permitting process includes public hearings and a complete review by the Ministry of Mines and Energy1 (MEE) and the Ministry of Environment and Durable Development2 (MEDD) and the National Mining Commission3 (NMC), a technical panel. During a weekly cabinet session in parliament the recommendations of the NMC are reviewed and once approved, the permit is a Decree signed by the President of Burkina Faso, the Minister of Economy and Finances, the Minister of MEE and the Minister of MEDD - BNP Paribas Securities Services says its BNP Paribas Dealing Services subsidiary has been selected to manage the dealing activities of RPMI Railpen, the investment manager for the Railways Pension Scheme (RPS). RPS is the sixth largest pension scheme in the UK. Following its decision to bring some of its investment activities in house, RPMI Railpen says it was looking for a dealing desk solution to optimise the execution of its market transactions. RPMI Railpen manages the assets of the RPS on behalf of its parent company, the Railways Pension Trustee Company Limited. Railpen Investments, its investment arm, is an FCA authorised investment manager with assets under management exceeding £21bn - LIM Advisors Ltd, a Hong Kong based fund manager, has signed a milestone agreement to utilise SimCorp Dimension for a full front, middle and back office platform. The $2bn fund manager will leverage SimCorp Dimension to establish full operational capability across multiple asset classes, including equity, bonds, convertibles, listed futures & options and derivatives - Botswana-based grocery retailer, Choppies Enterprises Limited (Choppies) debuted on the Main Board of the Johannesburg Stock Exchange (JSE) in the Food Retailers and Wholesalers sector and is the sixth listing on the exchange this year. The firm raised SAR575m in a secondary listing. Choppies boasts a wide FMCG portfolio, including its own private label products and leading international food brands. As a fast growing retailer on the continent, Choppies’ secondary listing on the JSE is intended to assist the company with access to capital needed to support its organic and acquisitive growth as well as establish its presence and public profile in strategic markets in Southern and East African markets. The group is currently the top supermarket chain in Botswana, holding significant market share of the overall national food retail market. Choppies currently operates 125 retail outlets in Southern Africa, comprising 72 stores in Botswana, 35 stores in South Africa and 18 stores in Zimbabwe. Through the listing, Choppies intends to increase its footprint in South Africa, Zimbabwe, Kenya, Namibia, Tanzania and Zambia – Small World FS, the international payment services provider says it has processed £10bn in transactions since launching in 2006. The London-headquartered financial technology business now operates the third largest payout network in the world, with a global payout network of over 250,000 locations in 188 countries. This news comes after months of rapid expansion, including the extension of its digital services into 14 sending markets, as well as inking deals with the MTN Group, Africa’s largest mobile operator, and Nations Trust Bank, Sri Lanka’s fastest growing bank - Ullink, a global provider of market leading electronic trading and connectivity solutions, today announced that Kotak Institutional Equities (KIE), one of India's leading institutional brokers and a division of Kotak Securities has chosen Ullink’s UL Bridge connectivity solution. KIE has chosen UL Bridge to facilitate FIX messaging, message enrichment and order routing, to enhance its existing connectivity infrastructure. UL Bridge’s uniquely modular architecture works in conjunction with KIE’s Order Management System (OMS), allowing KIE to provide better execution services to more clients, both locally and globally - The Straits Times Index (STI) ended 35.04 points or 1.01% lower to 3424.94, taking the year-to-date performance to +1.78%. The top active stocks today were DBS, which declined 1.54%, Singtel, which declined 1.89%, OCBC Bank, which declined 0.67%, UOB, which declined 1.62% and Ascendas-hTrust, with a 1.43% advance. The FTSE ST Mid Cap Index declined 0.35%, while the FTSE ST Small Cap Index declined 0.06%. The outperforming sectors today were represented by the FTSE ST Health Care Index, which rose 0.26%. The two biggest stocks of the Index - Raffles Medical Group and Tianjin Zhongxin Pharmaceutical Group Corporation- ended 0.46% lower and 3.48% higher respectively. The underperforming sector was the FTSE ST Telecommunications Index, which slipped 1.81%. Singtel shares declined 1.89% and StarHub declined 0.50%.

Stenham launches new global macro fund

Friday, 06 January 2012
Stenham launches new global macro fund Investment firm Stenham Asset Management has recently launched a new global macro fund of hedge funds called Stenham Helix. Stenham has over $1.1bn invested in global macro hedge funds and $2.7bn invested in hedge fund strategies overall. Stenham has been invested in global macro hedge funds since the 1980s and its flagship macro fund of hedge funds, Stenham Trading, has achieved an annualised return of +9.07% since inception compared to the HFRX Macro Index which has posted a return of 6.51% and the MSCI World Equity Index which was 4.13% over the same period. http://www.ftseglobalmarkets.com/

Investment firm Stenham Asset Management has recently launched a new global macro fund of hedge funds called Stenham Helix. Stenham has over $1.1bn invested in global macro hedge funds and $2.7bn invested in hedge fund strategies overall. Stenham has been invested in global macro hedge funds since the 1980s and its flagship macro fund of hedge funds, Stenham Trading, has achieved an annualised return of +9.07% since inception compared to the HFRX Macro Index which has posted a return of 6.51% and the MSCI World Equity Index which was 4.13% over the same period.

The Stenham Helix fund aims to invest in similar types of macro managers but to assemble a portfolio where the liquidity provided by the underlying managers allows Stenham to offer monthly liquidity with 35 days’ notice. The fund will consist of a concentrated portfolio of around 15 managers with a target return of Libor +5% to 6% and low volatility. The minimum investment is $25,000 with no lock up period. The Stenham Helix fund has launched with $36m and is available in USD, GBP and EUR share classes.

Javier Uribarren, investment director at Stenham Advisors Plc says the firm launched the fund in response to both continued interest in global macro strategies and a continuing need for liquidity. “We have never gated or restricted redemptions from any of our funds because our fundamental philosophy is to ensure that there is a comfortable match between the liquidity terms offered to investors and those available from the underlying hedge funds that form the investment portfolio,” he says.



 “In the latter half of 2011, countries in the eurozone came under growing pressure to show monetary and fiscal restraint, investable trends developed and the fundamental outlook became more accurately reflected in the pricing of financial assets. This environment is ideal for global macro strategies,” he adds.

Global macro funds have a certain characteristics that favour their adoption in a volatile market: the ability to access all markets and asset classes globally; highly liquid portfolios in which exposures can be quickly changed; risk management and superior trade construction to limit the downside when shorter term moves are not consistent with long-term views; and substantial organisations with outstanding talent pools and operational controls, suggests Uribarren.

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