Hedge Fund Review: People Moves in Asia

Philipp Hildebrand has been appointed Vice Chairman of BlackRock

(Hedge Fund Review) The following are excerpts from Hedge Fund Review’s “People Moves“:

Philipp Hildebrand has been appointed as vice-chairman of BlackRock, overseeing the company’s largest institutional client relationships in Europe, the Middle East and Africa (EMEA) and Asia-Pacific. His appointment is effective from October. Hildebrand brings almost 20 years of experience across asset management and banking, most recently as chairman of the Swiss National Bank. He will report directly to chairman and chief executive officer Laurence Fink. Hildebrand will serve as a member of the global executive committee, as well as its EMEA and Asia-Pacific executive committees and be based in London.

Fortress Unveils Asia Volatility Hedge Fund

Fortress Investment Group has launched an Asia-focused volatility hedge fund helmed by a pair of former Artradis Fund Management hands.

The Fortress Convex Asia Fund debuted on May 1 with US$55 million in initial assets. The new fund invests in stock, interest rate and currency options, as well as Asian volatility instruments, Fortress said in a document obtained by Dow Jones Newswires. It will seek “to deliver non-correlated returns in normal markets and out-sized returns in stressed or dislocated markets, providing ‘Tail Risk’ protection,” Fortress said.

CEO Andrew Schneider Traveling to Asia, Beijing and Hong Kong, through early June

Andrew Schneider, a leading industry expert and CEO of Global HFA Asia, will be in China from late May to the beginning of June.  He will be available to meet interested parties regarding hedge funds, marketing, asset raising, consulting, start ups and expert advise in the industry please email Andrew@globalhfa.com.  In addition Mr. Schneider is also the CEO of Rotoblock a publicly traded medical waste management company(RTBC) that does business in China. If you would like more information please visit Rotoblock.com.

Global HFA CEO warns JPMorgan may not be alone

Andrew Schneider, CEO for Global HFA, gave commentary on the recent JPMorgan $2+ Billion loss.  Speaking to the Connecticut Post, Schneider said more banks are likely to be in this situation.  The Post writes: “While the state looks to protect its investment, another potential concern here is in the hedge fund industry. JPMorgan estimates it will lose about $2 billion from its trades, which means there are some institutions that stand to gain that money. It’s likely to be the larger funds.”

Hedge Funds Looking for Some Mojo

For those looking for the bottom on the Hedge Fund market, hang in there.  The widely-followed Hennessee Hedge Fund Index fell 0.38 percent in April, compared with a decline of 0.75 percent in the S&P 500 (INDEXSP:.INX). But ValueWalk says hedge funds still badly trail the broader market index, after missing out on its first quarter rally. Equity long/short strategies were among the worst performers last month.