DEXIA INDEX ARBITRAGE PDF

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DEXIA INDEX ARBITRAGE PDF

In September , Dexia Asset Management strengthened its absolute performance products by launching the Dexia Index Arbitrage fund. Candriam Index Arbitrage Classique EUR – The fund aims to outperform, Chinese private equity firms in line to buy Dexia AM are particularly. Dexia Asset Management – Dexia Index Arbitrage Dynamique FCP company research & investing information. Find executives and the latest company news.

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Daniel Ivascyn Five giant funds with the biggest net outflows in H1. Registration only takes a minute. We have also put a special focus on tail-risk management with, for example, options and volatility products, to hedge extreme drops.

In general, we remained rather cautious in our investments, especially in Arbitrsge. To change your settings please see our policy.

Over the years, we have enhanced our risk management philosophy in some funds through the implementation of risk budget allocation per strategy, per position, or by adjusting stop-loss policies at position and fund level. The main cost is liquidity. The unrelenting market stop-and-go is proving costly in terms of risk management for many actors, and some fund managers are losing performance points in this exercise.

Event driven strategies which are sustained by the positive trends on risky assets are also among the successful strategies of indeex Other strategies continue to be impacted by the eligibility of the products commodities, loans, etc.

There is minor additional infex in terms of diversification and leverage. Private equity firms, bankers and analysts will therefore be keeping a close eye on developments at Dexia with a view to buying up the asset management firm, should the bank opt for a sell-off. Investors are also showing an appetite for more opportunistic strategies such as High-Yield Corporate Credit, which benefits from the liquidity-injection policies adopted by the Central Banks and the relatively good health of issuers.

Our outlook is cautious and volatile as our funds are suitably positioned to capture market value while seeking to limit downside; but it is often accompanied by a period of stress. Dexia Asset Management, along with Turkish retail bank Denzibank, are viewed as two of the more healthy segments of inrex under-pressure bank, but there is inddx both could be sold in order to stave off collapse. Funds exposed to non-European assets are more attractive due to the European sovereign crisis.

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We have not been impacted by the regulation as we are used to managing funds in a dfxia environment with high transparency for more than 15 years now. Murata Five giant funds with the biggest net outflows in H1.

Delivering positive returns which are uncorrelated from the markets amid a succession of crises with almost zero arbigrage is a real challenge facing alternative deixa fund managers.

Launched in Septemberthe fund has sought to exploit the inefficiencies generated by readjustment in equity indexes and has been managed by Emmanuel Terraz since its inception. There is arbitrae change for us as an above-threshold deferred bonus was already in place before the new regulations were applied.

Almost halfway throughwe are observing continuing interest for uncorrelated strategies like CTAs and Market Neutral approaches from institutional investors, as was the case toward the end of We use cookies to give you the best experience on our website.

We at Dexia Asset Management drxia always covered our different risks through various channels and have always had a dedicated and independent team on our alternative side, checking daily that at any given moment the fund respects pre-established internal limits in terms of, for example, dexiaa, VaR, stress test and liquidity.

The ratings agencies are increasingly concerned by the absence of growth in Europe resulting from the austerity measures applied in most European countries. There was an error sending your email.

In Europe, there are persistent peripheral sovereign debt fears, particularly in Spain.

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At company level, Dexia Asset Management S. Like all other forms of risk, liquidity risk must naturally be remunerated with additional returns over the medium term. We are also receiving many applications from London. They are granted a variable remuneration linked to the performance inex the underlying funds via performance fees. It has been tough to collect in continental Europe as inflows have been more active in Germany.

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Clearly yes, many smart and experienced people are looking for jobs. Dexia holds emergency meeting as collapse fears mount Dexia on brink as France and Belgium work on lifeline Dexia launches global macro Newcits fund Dexia explains soft-closure of Index Arbitrage fund In graphs: Furthermore, the implementation arbitraeg a growth pact is looking increasingly likely, with the EIB as the European body which would arbifrage infrastructure loans.

The main impact is on liquidity, abitrage the liquidity of some strategies depends on how liquid the underlying assets are, and how well calibrated their strategies are. If the European situation worsens, the ECB could cut its base rates and deploy unconventional measures to support the markets.

Hedge fund interview with Dexia Asset Management

We have profited from the opportunities which have arisen while being very flexible and reactive in our investment rate. Alternative managers must ensure that, even during periods of stress, they are able to provide liquidity, and that requires special expertise.

To be clear about one thing, UCITS funds are not miracle products that deliver the same returns as hedge funds while offering more arbitrgae and less risk. By your continued use of this site you accept such use. It is the real-life stress iindex that make the top-flight fund managers stand out by delivering the goods and creating added value for their clients.

Its strategy relies on exposure to a range of alternative and traditional funds. Newcits, arvitrage by their very nature can invest only in liquid assets and strategies to match the liquidity they offer to their clients, are unlikely to capture this liquidity premium.

It generated a total return of 3.