Fri, Dec 19, 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 win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  4. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und

  5. Performance - Lansdowne, Man Group, other hedge funds profit from shorts in oil, Turmoil boosts hedge funds that bet against Russia, oil, CTAs post strongest returns since December 2010[more]

    Lansdowne, Man Group, other hedge funds profit from shorts in oil From Valuewalk.com: The rising short interest in oil companies implies that the worst for oil is yet to come. Data from Markit shows that short exposure in energy sector of S&P 500 is still looming close to the highest mar