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3 Jul 2008


Blog Directory - Blogged

Northern Trust to Manage Auda Hedge Assets

New York based fund manager, Auda Hedge LLC has selected Northern Trust to provide fund administration, custody, banking and foreign exchange services to its fund of hedge fund program, with assets in excess of US$1 billion.

In January 2008, Northern Trust announced a worldwide exclusive partnership with youDevise to provide enhanced fund of hedge fund data to the fund of hedge fund community via the Hedge Information Provider ("HIP") system.

"Funds-of-hedge-funds have become the route chosen by many institutional investors when accessing hedge funds." Wilson Leech, head of Northern Trust's Global Fund services group said, "By fully integrating HIP onto Northern Trust's global platform we will be able to deliver an enhanced reporting capability and reduce operational risk, enabling our clients to make decisions faster and more effectively."

The HIP is an online portfolio management system developed specifically for funds-of-hedge-funds. It considerably improves the timeliness of information that funds-of-hedge-fund managers receive from underlying hedge funds regarding hedge fund holdings, current value, performance, liquidity and hedging, as well as a detailed breakdown of assets and transactions. HIP makes it possible for funds-of-hedge-fund managers to see portfolio management data daily that, historically, was only available monthly.

Where Northern Trust's UK entities undertake regulated business, they are authorized and regulated in the United Kingdom by the Financial Services Authority.

Interest Rates Top Swiss DMX Alternative Investment Indice

The DMX, Directional Markets Index, heads the list of investable Alternative Investment Indices provided by Alternative-Index Ltd, with a month-to-date performance of +0.71% and a stellar year-to-date performance of +16.61%. DMX is listed on the Vienna Stock Exchange.

The best performing sector for the DMX was the Interest Rates sector with a month-to-date attribution of +0.62%.

The DMX outperformed its peer, the FTSE Hedge Directional Index month-to-date by 2.13% (0.71% vs. -1.42%) and year-to-date by 21.42% (16.61% vs. -4.81%). The DMX also outperformed the MSCI Systematic Trading Index year-to-date by 12.17% (16.61% vs. 4.44%). The DMX's performance surpassed the HFRX Market Directional Index's performance month-to-date by 1.22% (0.71% vs. -0.51%) and year-to-date by 15.67% (16.61% vs. 0.94%).

Alternative-Index Ltd. is an Index specialist and provides investable Indices that represent the risk and return of investable alternative strategies and asset classes. The company is a 100% subsidiary of Swiss Alternative Investment expert Salus Alpha Group AG.

Dynamic Launches an Array Of Hedge Funds & FOHFs

Dynamic Funds ("Dynamic") has announced the launch of two global growth funds, the Dynamic Power Global Navigator Class and Dynamic Power Global Balanced Class.

The fund manager also launched a hedge fund of funds, the Dynamic Alternative Opportunities Fund, giving retail investors access to a basket of the Company's hedge fund products. Dynamic Alternative Opportunities Fund has the ability to invest in Dynamic hedge funds and closed-end funds, as well as externally managed hedge funds, private funds and other investment vehicles not generally available to the investing public.

"Dynamic Power Global Navigator Class is a go anywhere, do anything global growth fund," says Alexander Lane, VP and Portfolio Manager, "It offers investors exposure to global stocks with the safety profile of larger companies and the higher return profile of smaller companies."

The initial portfolio of the Dynamic Alternative Opportunities Fund will be composed of an approximately equal allocation of seven Dynamic hedge funds; the Power Hedge Fund, Alpha Performance Fund, Contrarian Fund, Power Emerging Markets Fund, Income Opportunities Fund, Strategic Value Fund, and Focus+ Alternative Fund.

The Dynamic Funds are managed by Goodman & Company, Investment Counsel Ltd., a subsidiary of DundeeWealth Inc. DundeeWealth is listed on the Toronto Stock Exchange.