Thu, Mar 28, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge fund clones did relatively well during the crisis

Tuesday, April 20, 2010

amb
From the Opalesque team: Nils Tuchschmid, professor at the Haute Ecole de Gestion in Geneva and an ex-FoHFs manager, recently told Swiss daily Le Temps that out of ten products replicating alternative funds, six performed less badly than alternative funds in general during the crisis - from late 2007 to early 2009. This is because these instruments do not replicate hedge fund managers’ ability to play on market dynamics. They are also participating in the rebound of alternative funds – fed by a liquidity comeback – but they have not rebounded as much either.

The Hedge Fund Replication Index, according to Le Temps, lost 17% during the crisis, but has gone up again 11% - compared to the HFRI main index, which lost 21% during the crisis, but recovered with 25%.

Willem van Dommelen, co-manager of the ING Alternative Beta fund told Le Temps: “the concept has proven that it is workable.” And Jérôme Teiletche, co-fund manager of the LODH Alternative Beta funds at Lombard Odier said those results have shut up general scepticism about replicators.

Not all products did well however: Deutsche Bank’s Absolute Return Beta lost 40% during the crisis and has recovered with only 14%. Partners Group’s Alternative Beta lost 19% and re-gained 19% (Swiss asset manager Partners Group talked last year of selling off its hedge fund clone unit, but instead ......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1