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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 13

Saturday, April 02, 2011

A roundup of the week’s hedge fund launches, closures, index performance, trends, regulatory, legal, and financial events pertaining to the alternative investments industry.

Last week, we heard of fund launches from Thames River (absolute return), we learned GAM will launch a UCITS III version of its fund of hedge funds, and Arrow Funds announced another alternative investment mutual fund (commodities). There was an update on Morgan Sze’s $1bn+ fund (it launched in Hong Kong this past Friday), Sentosa Capital set up a fund (Asia focused credit), LNG Capital (offshore European corporate bond UCITS fund), and Act II Capital Specialist Equities Fund launches as UCITS III with $50m.

Opalesque also learned that Stephen Diggle, ex-managing partner and co-founder of Artradis, will launch two funds, the Artradis Russian Opportunities and Artradis Testudo.

We also heard that newly launched Sovereign Wealth Fund by Taurus Orators, aims to top $150bn assets in first year.

In a unanimous vote at Ashmore, the Board of Directors of Global Opportunities Limited rejected a resolution that suggests closure of the company. Meanwhile two funds announced they would shutter, including Citadel LLC, which will close a residential mortgage funds after its portfolio manager left the firm, and tech hedge fund FISAM Capital, closed its doors a few weeks ago after a large investor redeemed its money.

The Morningstar 1000 Hedge Fund Index up +1.5% in February; and the Parker FX Index up 0.06% (-0.73% YTD).

Man Group is aiming to raise additional assets and......................

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