Posts Tagged “Emerging Markets”

Spotlight Series: Randall Stewart Khan, APS AM, considers the future growth of Asia.

August 17, 2020

Bloomberg reports that China has overtaken Japan to become the second largest global economy and foreign investment continues to increase month on month.

Foreign direct investment in China climbed in July, highlighting the confidence of companies from Volkswagen AG to Merck & Co. in an economy that surpassed Japan in the second quarter.

Investment rose 29.2 percent to $6.92 billion, the Ministry of Commerce said in Beijing today. It was the 12th monthly gain. Estimates of five economists surveyed by Bloomberg News were for increases ranging from 30 percent to 77 percent.

China may contribute a third of the global economic expansion this year, Byron Wien, a senior managing director at private equity firm Blackstone Group LP, said Aug. 11. The International Monetary Fund last month raised China’s growth forecast to 10.5 percent this year, three times the pace of the U.S., as government policies support consumption and investment…. more here

In an interview for the Spotlight Series, Randall explains how the slowdown in the US and EU markets have not effected the emerging markets of China, Japan and other Asian countries.  This polarisation helps APS AM’s Emerging Markets fund, giving investors a competitive edge. He believes that Asia will continue to grow.  While Japan still looks to external demand, increasingly China is shifting to domestic spend stabilising profit growth.

Randall Stewart Khan of APS Asset Management participated in and won a Quickfire Showcase.

Post Under: Asset Management

A complete round up of news and views from GAIM International 2010

June 24, 2020

GAIM International is the “must attend” annual hedge fund conference.  The 2010 event continued that tradition, 16 years in the making.  In addition to the coverage of the event by Beverly Chandler,  we’ve gathered the leading articles and commentary from the business news websites to give you a comprehensive review of this years hugely successful event.  B.H. Fraser provided an alternative view of the industry as Poet in Residence.

We have captured a series of video interviews with some of the industry leaders which will be posted on this site over the coming weeks.   To make sure you don’t miss out, either add the RSS feed to your reader or sign up for email alerts.


Some key quotes from industry players - Reuters

What does Gerlof de Vrij, Head of Global Tactical Asset Allocation at APG think about hedge funds as a liquid asset class and thoughts from other industry leaders as the sector wrestles with challenges from regulation, consolidation and market volatility…. more here


Flat currencies to lose value against real assets - Reuters

Veteran hedge fund manager Bill Browder is buying commodities and the companies that produce them in emerging markets to profit from what he said is a looming crisis in the world’s major currencies…. more here


Hedge-Fund Survival Skills to Be Tested by Increased European Regulation - Bloomberg

“The survival instincts that many hedge-fund managers have in markets they’re also going to have to display in facing up to regulatory challenges,” Rick Sopher, managing director of LCF Edmond de Rothschild Asset Management Ltd…. more here


Macro hedge funds best despite May dip - Reuters

Hedge funds taking directional bets on markets will be among the best performers in 2010 as concerns over the health of major economies continue to dominate markets, said Lombard Odier’s head of hedge funds advisory… more here


Executives sound warning on hedge funds UCITS boom - Reuters

“It’s very difficult, if everyone seeks daily liquidity, to invest in hedge funds properly,” said Steve Friedman, managing partner of EOS Partners… more here


The Mirror Crack’d - FT Alphaville

Mike Novogratz, one of the founders of the giant Fortress Group, and Hugh Hendry, the voluble manager behind the definitely smaller but in some ways no less influential Eclectica Asset Management, slugging it out…. more here


Hedge Fund investors almost double macro bets as global trades proliferate - Bloomberg

Hedge funds that bet on economic trends are attracting cash at almost double last year’s pace as they seek to profit from events such as Europe’s sovereign debt crisis and China’s decision to let the yuan trade more freely…. more here


Seed investors return to start-up hedge funds - Reuters

Sovereign wealth funds and pension funds are backing start-up or small hedge funds again, said FRM Capital Advisers… more here


Mammon and Montrachet - FT Alphaville

What do eastern mysticism, violence, mammon, and am dram have in common? They are all dinner and drinks topics of conversation amongst hedge fund managers in Monaco…. more here


Sand, sea and SEC - HFM Week

While managers gathered in a stormy south of France last week, for Monaco’s annual GAIM International event, pondered the labyrinthine twists of EU and US regulatory developments, investors jetted in with a different set of priorities… more here


The Great Investing Dilemma of 2010 - Market Melange

The notion of negative Chinese GDP growth is widely regarded as a near impossibility –much like the notion that house prices would keep going up for ever – scary thought! …. more here


Hedge Funds Turn Mutual Funds to Short-Circuit European Rules With NEWCITS - Bloomberg

Guy Hurley said he’s not sweating European plans for new hedge-fund rules after leaving Bank of America Corp.’s Merrill Lynch & Co. a year ago to start an onshore fund that uses strategies such as merger arbitrage…. more here


Byron Wien sees a bottoming in stock prices and the possible return of $10 billion-sized buyouts - Reuters

Wien, who is well known for his annual predictions and who correctly called the rebound in China in 2009, said he was not as bullish as at the start of the year but nevertheless thinks a deterioration in the sovereign debt crisis will be avoided… more here


Man Group Won’t Make Significant Acquisitions After GLG, CEO Clarke Says - Bloomberg

“It is effectively job done for our liquid trading strategies,” Clarke, 49, said today at the GAIM International hedge-fund conference in Monaco. “It’s possible we could infill with smaller mergers in Asia-Pacific.”…. more here

Post Under: Economic Outlook, General

Renowned contrarian meets legendary fund manager in gap in the curtain

June 16, 2020

In a characteristically characterful meeting, Hugh Hendry, founder of Eclectica Asset Management andMike Novogratz, principal of Fortress Investment Group discussed gold, the Euro and investing in a deflationary environment.

Hugh Hendry debating at GAIM International 2010, 14 - 17 June in Monaco

Mike Novogratz, Fortress Investment Group, debating at GAIM International 2010, 14 - 17 July in Monaco.

Quoting TS Eliot, Buchan and Tolstoy, Hendry held the cultural high ground declaiming that he had had to face the twin axis of financial evil that is Germany and France, transporting himself across the European Socialist citadel to get to our stage. “The Euro is finished” he said. Novogratz was slightly less cut and dried on the subject, believing that there will be a lot more pain before everyone in Europe holds hands: “In the long run, there will be a bail out” he said. “The Euro will go lower and there will be more European political mishaps before they get bailed out.” Novogratz proposed a long Sterling versus the Euro trade. Both Novogratz and Hendry pronounced themselves impressed with the new administration in the UK, with Hendry calling it a ‘great moment in history’ that should have been done five years ago. On gold, Hendry believes it should represent 10 per cent of one’s assets.

On our current deflationary state in the West, Novogratz believes that we are on a global mega trend of globalisation with the so-called emerging markets coming to the fore. “That force could carry us through” he said. And the gap in the curtain? That is Hendry’s reference to our attempts to see into the future. “How does life play out?” he asked “In our haste to make money, we rush to the end.” And there, we may find, Eliot’s Wilderness of Mirrors.

Post Under: Asset Management

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