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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 31

Saturday, August 07, 2010

Benedicte Gravrand, Opalesque London:

Last week, we heard of fund launches from A2ML (new Megalio fund range); Reech (UCITS version of real estate hedge fund); Way (3 FoFs with no performance fees before set return is achieved); Pilgrim Partners (Asian Macro); Duet (fund of CTA funds); Everest Capital (frontier markets); BlackSquare (multi-manager absolute return fund); and JP Morgan (fund of absolute return funds).

The Parker FX index was down 0.79% in June (+0.71% YTD); the LSX - Long/Short Equity Index went up 0.68% in July (+4.27% YTD); the Credit Suisse Liquid Alternative Beta (LAB) Index returned 3.12% (2.99% YTD); the HFRX Global Hedge Fund Index gained 1.23% est. (+0.02% YTD); and the UCITS HFS Index recovered from early losses, and was up 0.35% (+2.25% YTD).

HFR said that in Q2, 92% of net assets inflows went to managers with more than $5bn in AuM, yet research by PerTrac suggests that older and larger managers tend to deliver lower absolute returns than smaller and younger ones, Reuters reported; and UCITS inflows swelled to Eur49bn in first quarter, said EFAMA.

Hedge funds expect to widen distribution capabilities by creating more ETFs exposed to their own funds, said BlackRock; SYZ & Co’s listed FoHFs Altin bought back shares after having traded at a sharp discount; hedge funds increased their bets that natural gas prices would rise for the first time in six weeks after hotter-than-normal weather boosted air-conditioning demand, reported Bloomberg; July turned out to be a better month for hedge fund returns, said Bank of America Merrill Lynch; FRM Capital Advisors is apparently......................

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