NYC PRMIA catastrophe bond event

Professional Risk Managers International Association (PRMIA) Presents:

Understanding Cat Bonds

Catastrophe bonds (Aka: Cat Bonds) and insurance linked securities received a lot of discussion recently as a result of Super Storm Hurricane Sandy. These securities are garnering renewed interest from risk managers, investors and issuers alike.

This event has assembled a panel of industry leaders to give attendees some useful insights into these useful risk management tools.

Topics Include:
-Historical Issuance
-Structure/Perils
-Performance/Loss History
-Investor Perspective: Attractive and Growing Asset Class
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Mark Shore, Adjunct Professor of managed futures at DePaul University’s Kellstadt Graduate School of Business in Chicago and 25 year veteran of the futures industry notes increased interest in managed futures for the last several years.

“Assets under management in managed futures have increased nearly 63% since 2008, and over 700% since 2000 according to BarclayHedge.” To help explain the managed futures message, Shore announced DePaul University will once again offer a graduate level managed futures course in the spring.

As the demand for asset allocation education and alternative investment education increases, Shore notes, "individual & institutional investors and the graduate students are asking more questions about managed futures, a topic often found unfamiliar to many.”

Does the recent market volatility increase the interest to understand managed futures?  “The abnormal market volatility in recent years has a number of investors increasingly questioning the core principles behind a diversified investment portfolio, he said. “What’s needed is a greater understanding of dynamic correlation and tail risk.”

Below is a description of the course:
This course is designed from a practitioner’s perspective to give students exposure to the managed futures industry within alternative investments by discussing various aspects and terminology of this asset class.

Managed Futures includes the trading of commodities, financial futures and foreign exchange (also falls into the global macro category) and is one of the fastest growing asset classes and yet the investment management community is just beginning to understand it.

There is a growing demand by the investment industry for practitioners who understand this product as the need to reduce non-correlation risk and reduction of tail risk increases.

Portions of the course will introduce various metrics used for evaluating trading models and evaluating investment managers known as Commodity Trading Advisors (CTA). 

The course will discuss some trading strategies utilized and current topics/ macro economics as they relate to the lessons of the course.

The students will learn to express their positive or negative views of fund managers and trading models to senior management, an investment committee or investors, thus utilizing the concepts of asset allocation and due diligence.


Copyright ©2013 Mark Shore. Contact the author for permission for republication at [email protected] Mark Shore has more than 25 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops.

Mark Shore is also an Adjunct Professor at DePaul University's Kellstadt Graduate School of Business in Chicago where he teaches a managed futures / global macro Mark is a contributing writer to Reuters HedgeWorld, the CBOE Futures Exchange and Micro-Cap Review.

Past performance is not necessarily indicative of future results.  There is risk of loss when investing in futures and options.  Always review a complete CTA disclosure document before investing in any Managed Futures program.  Managed futures can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone.  The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.

In the continuing series of "Restoring Customer Confidence" in the futures markets, our friends at Marketswiki.tv produced the below video Confirmations: Made in China.

Gary DeWaal, group general counsel at Newedge, stated the issue caused by Peregrine Financial Group (PFG) ability to avoid regulatory audit checks for more than 20 years. To resolve this issue, in November 2012, the National Futures Association and CME Group hired AlphaMetrix to take on the job of confirming the money FCMs say they have in their segregated accounts, with money that is held at the bank.

This solution is based on the method used by China's futures industry called China Futures Margin Monitoring Center Co. Ltd.(CFMMC).

More Sources:

• China Futures Margin Monitoring Center Co. Ltd. (CFMMC) on MarketsWiki (link)
• China System for Protecting Client Cash May Help U.S., NFA Says – Bloomberg (link)
• NFA and CME Group Select AlphaMetrix to Provide Data Aggregation Services (link)

Past performance is not necessarily indicative of future results.  There is risk of loss when investing in futures and options.  Always review a complete CTA disclosure document before investing in any Managed Futures program. Managed futures can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone.  The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.

CTA Expo Presents

CTA EXPO New York 2013

CTA EXPO was established 2008 to help professional capital raisers and allocators identify futures trading talent and to promote investing in managed futures.

CTA EXPO New York is a one day conference consisting of speakers and panels combined with a concurrent schedule of thirty minute presentations by individual traders and funds and industry workshops.

Topics Include:

-Seeders and Their Role in the Alternative Industry
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Copyright ©2013 Mark Shore. Contact the author for permission for republication at [email protected] Mark Shore has more than 20 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops. www.shorecapmgmt.com

Mark Shore is also an Adjunct Professor at DePaul University's Kellstadt Graduate School of Business in Chicago where he teaches a managed futures / global macro course and an Adjunct at the New York Institute of Finance. Mark is a contributing writer to Reuters HedgeWorld.

Past performance is not necessarily indicative of future results.  There is risk of loss when investing in futures and options.  Always review a complete CTA disclosure document before investing in any Managed Futures program.  Managed futures can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone.  The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.

Shift Forex Presents:
Forex Industry Conference (FXIC) 2013

More companies have entered the FX space in the last 12 months than at any time in history. Collaboration is everywhere, and innovation is at its fastest pace ever.

FXIC taps into the heart of the FX community, assembling buy- and sell-side participants, brokers and technology providers, media and compliance for networking and thought exchange.

Speakers, panellists, topics, and sponsors are carefully selected to maximize value for each attendee. The event will bring together traditional and FX buy-side funds, retail and institutional FX brokerages, banks and non-bank liquidity providers, regulators and industry associations, marketing and technology providers, and non-FX brokerage firms exploring or growing an FX offering.

Topics Include: Read More

Copyright ©2013 Mark Shore. Contact the author for permission for republication at [email protected] Mark Shore has more than 20 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops. www.shorecapmgmt.com

Mark Shore is also an Adjunct Professor at DePaul University's Kellstadt Graduate School of Business in Chicago where he teaches a managed futures / global macro course and an Adjunct at the New York Institute of Finance. Mark is a contributing writer to Reuters HedgeWorld.

Past performance is not necessarily indicative of future results.  There is risk of loss when investing in futures and options.  Always review a complete CTA disclosure document before investing in any Managed Futures program.  Managed futures can be a volatile and risky investment; only use appropriate risk capital; this investment is not for everyone.  The opinions expressed are solely those of the author and are only for educational purposes. Please talk to your financial advisor before making any investment decisions.