Wed, Jul 27, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Geneva banks who run hedge funds suffered heavy redemptions, AUM down 8 to 20%

Thursday, October 09, 2008

From the Opalesque team: Just when Geneva thought it was sheltered from the financial crisis, it is getting a beating, reports Swiss paper Le Temps.

The bank Union Bancaire Privée (UBP), the world’s number one in the funds of hedge funds sector, saw redemption requests last month amounting to CHF6bln (US$5.3bln). The redemption period being 3-month long, the bank will have to issue them at the end of the year. This corresponds to approximately 10% of AUM in UBP’s alternatives section, which amounts to CHF58bln ($51.3bln). UBP told Le Temps that funds should go down between 8 and 10% in January 2009, but this was just a sign of the industry contracting.

Between July and September, Syz & Co indicated that the AUM for funds and mandates at hedge fund management arm 3A decreased by about CHF400m ($354.5m), or 8%. For the month of September, Syz admitted that clients had asked to redeem CHF80m ($71m) from 3A.

LODH saw is alternative investments assets drop by 26% (CHF4.8bln). Redemptions started earlier at LODH because two of the banks’ funds, Focus and Peloton, had to be liquidated earlier in the year and that had worried investors (first indication in March).

Banque Privée Edmond de Rothschild, which manages CHF7 to 8bln in FoHFs, also saw some redemptions but not as......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Opalesque Exclusive: ArbitrOption outperforms benchmarks, up 7.18% in H1[more]

    Komfie Manalo, Opalesque Asia: Independent registered advisor ArbitrOption breezed through the tumultuous Brexit referendum and outperformed its benchmarks. ArbitrOption was up 7.18% in the first half of 2016 compared to the S&P 500 which gain

  4. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  5. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New