Sun, Apr 26, 2015
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. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

  4. Update: Wall Street has strong feelings about Jon Corzine trying to make a comeback[more]

    From Businessinsider.com.au: Former New Jersey Governor Jon Corzine is thinking about starting his own hedge fund, according to the Wall Street Journal, and because of the way his last firm imploded, Wall Street has strong feelings about that. “Truth is the larger seeders would never give him money

  5. Opalesque Exclusive: Cybersecurity and hedge funds - A manager’s experience, Part Four[more]

    Benedicte Gravrand, Opalesque Geneva: Ruane, Cunniff and Goldfarb, Inc. used to have their own IT infrastructure. Todd Ruoff, Executive Vice President in charge of trading, operations and technology, was responsible for its maintenance. Then he started looking at outsourced providers a couple of

 

banner