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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 25

Saturday, June 26, 2010

Benedicte Gravrand, Opalesque London:

Last week, we heard of fund launches from Winton (UCITS version of flagship Diversified Program); RWC Partners (UCITS III pan-European long/short equity); new firm Soroban Capital; Fortitude (retail version of flagship); AMCL (special opps); Astenbeck (commodities); Blackcube (first hedge fund); Hylas Capital (event driven); Redwood (euro-zone crisis); RSR Capital (Asia arbitrage); and IBK Securities and Financial Risk Management (FoHFs).

Credit Suisse and Dow Jones Indexes signed an agreement which covers the calculation, licensing, branding and marketing of the hedge fund indexes formerly known as the Credit Suisse/Tremont Hedge Fund Indexes; and Eurekahedge launched a Ucits hedge fund database and index.

Event-driven funds are back in favour with net asset inflows ($5.6bn in Q1) for the first time since 2007, according to data provider HFR; macro hedge funds pulled in $2.5bn through April, according to data provider BarclayHedge; UCITS fund’s inflows totalled Eur49b in Q1-10, said the European Fund and Asset Management Association; high-net worth individuals increased their allocations to hedge funds to by 3% in 2009, found the latest World Wealth Report by Merrill Lynch and Capgemini Consulting (which also said that Asian millionaires had grown to match the HNW population in Europe); and global AuM rose 12.3% in 2009 to $49tn as fiscal and monetary stimulus triggered a stock market surge, but Europe's sovereign debt crisis is clouding the outlook for money managers in 2010, said consultancy firm Cerulli.

Credit Suisse/Tremont said May’s negative hedge fund performance had been impacted by a rise of volatility a......................

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