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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 4

Saturday, January 29, 2011

Last week, we heard of fund launches from Armajaro Asset Management, which will launch the Armajaro Natural Resources Fund in February with $70m in assets. We also learned Boaz Weinstein will launch the Saba Capital Tail Risk Fund (tail risk strategies) with $160m, Causeway Capital Management is launching the Causeway Global Absolute Return Fund, Adeos Advisers (formerly SRM Advisors) brings a special situations fund to market, and three new value strategy products were introduced by Oxeye Strategies.

GSO/Blackstone launched the Blackstone/GSO Long-Short Credit Income Fund (l/s fund), and top Turkish investor Ahmet Dedehayir returns to investing and launched Turkeys’ first hedge fund, the Arma Portfolio Management. Major banks rolling out new funds included JPM Global Natural Resources (resource fund), and Deutsche Bank launched a second hedge fund exchange traded fund, the db x-trackers db Strategies Hedge Fund Index.

We learned that Aspect Capital launched a UCITS version of its flagship offshore fund, and funds of funds launches announced this week include Trinity Capital Partners the new Quaestus Capital fund (seeder), and the John Hancock Alternative Asset Allocation Fund (multi-manager).

Mutual funds continue to knock hedge fund industry’s door with the launching of the Frost Diversified Strategies Fund (a mutual fund that acts like a hedge fund) and Forward Management’s new Tactical Enhanced Fund, a mutual fund based on a hedge fund strategy. And the much-awaited “Twitter fund” from Derwent Capital Markets will be delayed to April due to higher-than-anticipated interest from clients.

There were also closures reported last week as Artradis Fund Management Pte said it would close down its Artradis AB2 Fund and redeem investor’s money, “relatively disappointing performance,” is behind the closure of Cheyne Capital’s Macro......................

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