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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 11

Saturday, March 19, 2011

Benedicte Gravrand, Opalesque Geneva:

This week, we heard of launches from Plenum Investments (energy hedge fund); Highbridge Capital (Ucits III commodities fund); Global Fund Exchange (water, natural resources and agriculture fund); Hume Capital (Global Opportunities fund); Grand Slam (maiden hedge fund); Danske Invest (Denmark's first Ucits-compliant hedge funds); and Peak Partners (green fund).

“We have seen more start-up activity in the past 6 months than we have over the course of the entire past 24 months,” Jack McDonald, CEO of Conifer Securities LLC told Opalesque.

Also, BNP Paribas launched a new alternative investments subsidiary; several hedge fund industry veterans launched Privium, a one-stop shop solution for emerging hedge funds; and other hedge fund veterans launched Pulse Capital Partners, for seeding/acceleration and customized portfolio solutions.

New York-based Quantitative Research & Trading (QRT) shut down following a series of investor redemptions, HFMWeek said; HFMWeek also reported that Connecticut-based Plainfield Asset Management, which is currently liquidating its assets, is expected to return all investor capital by June 2012 before making a decision on its future. Finally, Zoe Cruz’s Voras Capital closed its credit fund due to low assets and several employees have left, reported NYpost.com.

The Newedge CTA Index is up 1.13% in February, -0.32% YTD; The HFRX Global Hedge Fund Index returned 0.73%, +1.29% YTD; The RBC Hedge 250 Index gained 1.23%, +1.94% YTD; The Barclay CTA Index is up 0.96% (est.), -0.13% YTD; And the Scotia Capit......................

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