Opalesque - Opalesque Exclusive: Hedge fund returns 2008: FLAT is the new up CTAs lead return leagues

Alternative Market Briefing

Opalesque Exclusive: Hedge fund returns 2008: FLAT is the new up, CTAs lead return leagues

Wednesday, November 26, 2008

From Matthias Knab: In September I was chairing a two day "Nordic Alternative Investment" Forum in Stockholm. The event was well attended by hedge funds as well as investors, including executive representatives from the Norway Government Pension Fund, formerly the Government Petroleum Fund. It was there when a hedge fund marketer lighted up the room with his comment "flat is the new up!" regarding the 2008 hedge fund returns.

According to industry sources, some of best (European) equity hedged fund YTD (mid-November) performances are:

O'Connor Global Fundamental Market Neutral Ltd (3.75% YTD)
Threadneedle UK Crescendo Fund, Ltd (2.11% YTD)
Lansdowne UK Equity Fund (1.97% YTD)

which contrast sharply against some of the worst YTD performers:

SR Phoenicia Phoenicia Portfolio (-50.78% YTD)
KDA Capital European Fund (-48.69% YTD to October)
Parvus (-47.48% YTD to Oc......................
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The end of the 5%: Hedge funds get institutional inflows straight from equity portfolio

NEW 2009 Opalesque New York Roundtable with:

Ed Robertiello, Managing Director, head of the fund of hedge funds Americas at Credit Suisse
Tim Schuler, CFA, Senior Vice President & Investment Strategist, Permal Group
Carrie McCabe, CEO and Founder of Lasair Capital
Chris Acito, Founder of Acito Advisory Group, former Managing Director and Global Chief Operation Officer for Investcorp's Hedge Fund Group
John M. Bader, Co-Chairman and Chief Investment Officer of Halcyon Asset Management
Bill Geisler, Portfolio Manager, Malbec Partners
Christopher Pucillo, Chief Investment Officer and Portfolio Manager, Solus Alternative Asset Management
Katherine S. Kim, Senior Analyst, Affirmed Capital

The Round discusses fundamental changes in asset allocation of public and corporate pensions, who have started to allocate to alternatives straight out of their equity portfolio, rather than putting hedge funds into a "5% niche". You will learn details:

What macro signals hedge funds are using for their strategic positioning
Challenges for emerging managers: What happened to seeding?
New insights on risk and reward of different asset classes and hedge fund strategies
What are the "rescue mandates" that Credit Suisse and other notable firms are now getting?
What are the huge opportunities investors can pursue in the secondary markets for hedge funds?
What new hedge fund compensation models are already now being deployed, but why do hedge fund fees not seem to ever go down?