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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 5

Saturday, February 05, 2011

Last week, we heard of fund launches from Future Capital Partners which brings the Elara Renewable Fund (EIS) and Clean Future (VCT) to market, focusing on high growth potential of the renewable energy investment sector; long/short equity funds were rolled out by Resultant Capital (a former team at Symphony Asset Management) and Courage Capital Management, which also launched a short-biased fund. We learned Nevsky Capital LLPs Martin Taylor will launch an $800m fund, Duma Capital launched a second fund (global macro), Mizuho launched Ovington Capital (multi-strategy), and Fulcrum Asset Management will tap active commodities with a new fund. Former LibertyView partners will launch HudsonView (market neutral), and HedgeForward announced the launch of a CTA focused on OTC foreign exchange markets.

BNY Mellon Asset Management launched a European absolute return fund, Man Group unveiled a hedge fund-linked ETF, Aberdeen brought out onshore versions of their emerging markets and high yield bond funds, and we saw a re-launch from 36 South (‘black swan fund’).

Absolute Return Partners LLP launched The Global Equity Alpha Fund (UCITS III); and a slew of funds were reported to go live on platforms this quarter with CastleRock ($25m AuM -UCITS) and Sabre ($22AuM – UCITS) funds go live on Liquid Alpha UCITS Platform (soon to be followed by 8 other funds), and the Liontrust Special Situations Fund is now available through the Skandia Investment Solutions platform.

The Parker FX Index returned 0.45% in December (+2.12% YTD); the Credit Suisse Liquid Alternative Beta Index was up 0.18% in January; the HFRX Global Hedge Fund Index gains 0.56% in January; and UCITS Alternative Index Global up 0.01% in January, UCITS Alternative Index Fund of Funds down 0.10%.

New, American hedge fund managers had a strong year, bringing $17bn in new assets into the industry in 2010, while Irish domiciled funds reached €963bn ($1.3tln) in n......................

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