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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 49

Saturday, December 11, 2010

Benedicte Gravrand, Opalesque Geneva:

Last week, we heard of fund launches from Insparo (Africa); Christofferson Robb (liquid version of flagship); Gorelick Brothers (closed-end FoHFs); Venus Capital (India Emerging Leaders) ; and Algebris Investments (fund focusing on capital securities that regulators say banks must issue).

Ex-hedge fund manager Marcel Melis started a capital-raising company; Atlanta-based law firm Morris, Manning & Martin launched a funds and alternative investments group; and New Zealand-based quant manager Pure Capital launched a new advisory service called 'CTAllocate'.

The Bloomberg Aggregate Hedge Fund Index fell 1.5% in November, +6.1% YTD; The Lyxor Hedge Fund Index went down 0.78%, +3.49% YTD; The UCITS HFS Index was up 0.78%, 4.42% YTD; The UCITS Alternative Index Global returned -0.21%, +0.78% YTD; The HFRI Fund Weighted Composite Index gained 0.26% (est.), +7.12% YTD; The Hennessee Hedge Fund Index was up 0.2%, +7.0% YTD; The Dow Jones Credit Suisse Hedge Fund Index went down -0.28% (est.), +7.72% YTD; The Eurekahedge Hedge Fund Index gained 0.55% (est.), +7.2% YTD; And the Greenwich Global Hedge Fund Index was flat at 0.1%, 7.3% YTD.

TrimTabs Investment Research and BarclayHedge reported that the hedge fund industry posted an estimated inflow of $16.0bn (1.0% of assets) in October 2010, the fourth straight inflow as well as the heaviest since November 2009; assets administered in the fund of hedge funds (FoHFs) sector have climbed 2% in the past six months, to a total of $1.065trn, reported HFMWeek's 15th Assets under Administration (AuA) survey; and the money invested in more than 180 Geneva-based FoHFs totalled $14.8bn......................

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