Mon, Sep 15, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 6

Saturday, February 12, 2011

Last week, we heard of fund launches from Highbridge Capital (credit), GAM (long/only, technology focused), Frontier Investment Management (multi-asset), Rob Hain (activist fund focused on European financials), and Abu Dhabi’s Royal Capital’s plans for fixed income hedge funds to tap the MENA markets. Global fund manager Standard Life has launched its Global Absolute Return Strategies portfolios to European investors, and we learned that Rampart Capital re-launched its wealth boutique firm.

We also heard Schroders unveiled two currency absolute return UCITS III fund. Other UCITS announcements came from RAB Capital, which said it would start the RAB Global Mining and Resources Fund (Ucits) and the RAB Gold and Precious Equities Ucits Fund (Ucits), Four mutual funds with long/short strategies were also launched. One from 361° Capital and three from Turner Funds (market neutral, l/s medical sciences, and global long/short)

The shock of the week came from Shumway Capital Partners, announcing that it would close and return investors money in a few weeks. Other closures were mainly determined by funds too close to the heat of the Insider Trading Scandal that continues to reverberate through the industry. Late Friday word broke that David Ganek’s $4bn Level Global would be shuttering. Ganek previously worked at SAC wrote to investors that, “Unfortunately the ongoing government investigation presents significant challenges to maintaining our collective focus,” Ganek said in a letter.” (Source)

Not announcing a closure, but certainly watching the painful drain of assets due to the Insider Trading debacle is also Diamondback Capital, whose investors asked to withdraw 12% of capital (or $722m) by end of March.

The UCITS HFS Index was down 0.29% in January; the HFRI Fund Weighted......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Big hedge funds show interest in Alibaba, Maglan joins other hedge funds in rush to Argentinian assets[more]

    Big hedge funds show interest in Alibaba From Hereisthecity.com: …Three other major hedge fund investors who have shown interest in the IPO are Dan Loeb of Third Point, David Tepper of Appaloosa Management and Dan Benton of Andor Capital Management. All three were among the roughly 800 p

  2. Socially responsible investments provide higher yield[more]

    Komfie Manalo, Opalesque Asia: A study by New Amsterdam Partners showed that asset managers with high ESG (environmental, social and governance) ratings provide higher gains with their portfolios compared to managers with low ESG ratings. In a study entitled

  3. Rothschild sees ‘new monetary world’ and recommends hedges[more]

    From Valuewalk.com: Rothschild Wealth Management is concerned about complacency and somewhat befuddled about the potential for stimulus in the Eurozone given the economic indicators. In their September “Market Perspective” report, Rothschild observed that while the risks in the Ukraine and Syria are

  4. SEC charges Minnesota hedge fund manager with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has brought charges against Minneapolis-based hedge fund manager, Steven R. Markusen for bilking investors out of fees and portfolio pumping. According to the complaint, the management fees earned by Archer Advisors LLC were shrinking due to the funds’ w

  5. …And Finally – Immature[more]

    From Newsoftheweird.com: Princeton University professor John Mulvey, 67 (who teaches financial engineering applications), was charged in July with stealing 21 yard signs around the town of Princeton -- signs for a computer repair business owned by a man with whom he was feuding. Nathan McCoy,