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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 35

Saturday, September 04, 2010

Kirsten Bischoff, Opalesque New York:

With the end of summer holidays fast approaching the news of launches was scarce, but last week, we learned about the following new fund launches from Collard Capital (Global Macro fund), a group of ex-Mizuho traders (Japan equity), an absolute return fund from Hasley Investment Management, and Galtere (agriculture PE). UCITS continue to roll out with Signet announcing a global fund of UCITS, and Swiss private bank Clariden Leu’s launch of a fund of UCITS, in partnership with Olympia Capital. Also launching will be a new fund of funds based in Sweden (Merrant Select), the first officially registered hedge fund in China from E Fund Management and Majedie Investments in London announced the launch of Javelin Capital, a subsidiary asset management business.

Index results released for August included: Credit Suisse's Liquid Alternative Beta Index -1.14%, 1.81% YTD

Hedge fund assets continue to be slowly chipped away by redeeming investors and performance that has lagged the markets. The result is a lack of inflows that has left industry assets at the lowest levels since November 2009. Funds that are seeing assets are fixed income strategies with investors flocking to the positive returns (only one negative month in the past 19 according to Trim Tabs/Barclayhedge), and absolute return funds, which rose $7bn this year, even on flat returns. Harcourt saw its own aum rise to 4.7bn in 2010 and the Reyl Group is the latest manager to declare the time is ripe for hedge fund seeding.

Hedge funds performance information for August began to trickle out as the week progressed and we learned that out of the larger firms Greenlight gained 4% in August, Och Ziff eked out ......................

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