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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 36

Saturday, September 11, 2010

Benedicte Gravrand, Opalesque London:

Last week, we heard of launches from City Financial and Clontarf Capital (Asian fund of funds); Henderson (agricultural hedge fund); Kite Lake Capital (special sits fund); Threadneedle (UK Absolute Alpha Fund); Kurt Billick (Bocage Global Resources fund); new firm Crinan Capital (Scotland’s first computerised hedge fund business); Javelin (L/S hedge fund); C12 (fixed-income multi-strategy fund); ML Capital (Ucits platform); RWC Europe (Ucits structure for US absolute alpha fund); Greg Lippmann and Fred Brettschneider (new hedge fund); Lance Futures (hedge and managed futures funds); and GAM and DCI (market neutral credit Ucits).

The HFRX Global Hedge Fund Index showed gain of +0.17% (est.) in August, +0.18% YTD; Nara Capital’s Ucits Alternative Index Global returned 0.14%, -0.14% YTD; 2n20’s Ucits HFS Index was up 0.43% due to solid gains in first three weeks, and 2.69% YTD; Lyxor’s Hedge Fund Index was up 0.05%, 0.84% YTD; The HFRI Fund Weighted Composite Index returned +0.38% (est.), +1.65% YTD, with strong performance in macro and relative value; Hedge funds declined -0.55% in August, but were up 1.32% YTD according to Hennessee Hedge Fund Index; The HFN Hedge Fund Aggregate Index was up 0.41% and +2.16% YTD, investor interest in hedge funds was strong again that month and performance was supported by fixed income and commodity strategies; The Dow Jones Credit Suisse Hedge Fund Index notched positive performance of +0.22% (est.), +2.46% YTD; And the Eurekahedge Hedge Fund Index was up 0.71% (est.), 1.92% YTD.

TrimTabs Investment Research and BarclayHedge reported that the hedge fund industry posted an estimated outflow of $2.9bn, or 0.2% of assets, in July 2010, the second straight outflow. Industry assets sank to $1.53tn, the thir......................

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