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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 52

Friday, December 31, 2010

Benedicte Gravrand, Opalesque Geneva: A roundup of the week’s hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments industry – up to 30th December, 2010.

The average hedge fund was up 6.12% for the year through Nov. 30, according to Morningstar - the second-worst showing since the fund tracker began measuring performance in 2003, reported Barron’s; and Credit Suisse noted in a report this month that inflows into hedge funds had been “somewhat slower”, which could have been caused by the insider trading investigations.

Within the hedge fund world, the Dexion Commodities board reportedly put forward proposals for the company to wind down; Crispin Odey raked in £36.4m in 2010 thanks to a barnstorming year for his investment firm, said The Daily Mail, and traders shared the rest of the £84m profit pot; Farallon Capital received a rash of redemption requests from institutional investors for its multi-strategy flagship this fall even as it raised $750m for a new Asia-focused special situations fund, said; the hard closure of Oceanic Hedge Fund Limited was lifted; Larry Seidman took a 5.57% stake in bank Colonial Financial Services; Sloane Robinson and Deutsche Bank are planning a Asia-focused UCITS fund on the DB Platinum platform; French bank BNP Paribas froze two FoHFs worth around €236m ($309.5m) for technical reasons after entrusting them to another portfolio manager; TrimTabs and BarclayHedge noted that hedge fund managers had turned bullish on US equities, betting aggressively on economic recovery; and two smaller Asian hedge funds (Thai Focused Equity and Albizia ASEAN Opportunities funds) that bet on Thai and Southeast Asian stocks and gained more than 80% YTD, have received only a trickle of fresh inflows, said Reuters.

In the investors’ corner, Detroit's two public pensions reported losses of more than $480m in risky investments incl......................

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