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Benedicte Gravrand, Opalesque Geneva: A roundup of the week's hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments industry.
Last week, we heard of fund launches James Chanos (hedge fund); John Paulson (Ucits fund); East Coast and Arrow Hedge (grade credit instruments fund); GSB Podium Advisors (UCITS version of equity statistical arbitrage strategy); Hatteras (Multi-Strategy Funds); Auriel (dynamic currency hedging programme); Bridgewater (liquid version of Pure Alpha Fund); and Derwent Capital Markets (hedge fund using Twitter as stock market predictor). Also, Morgan Sze is to leave Goldman Sachs to launch Asia hedge fund in Hong Kong; and Icahn's former lieutenant Keith Meister is planning an event-driven fund.
Hedge Fund Research reported that hedge fund launches had accelerated (to 260 in Q3) as managers are embracing transparency, Ucits III, that liquidations had declined by 30%+ as risk tolerance returned, and that incentive fees continue to decline.
Reach Capital's Nigel Hart liquidated its fund and terminated its role as sub-advisor for UBS Wealth Management; and NYC-based hedge fund Williamson McAree shut down due to negative performance and the fund's small size.
The Barclay Hedge Fund Index gained +0.56% in November, +7.75% YTD;
The Barclay CTA Index lost 1.08% (est.), +3.77% YTD;
The Newedge CTA Index was down -2.82%, +5.85% YT...................... To view our full article Click here
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