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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 17

Saturday, April 30, 2011

The week after the long Easter break saw only a few launches including those by Emerald Orient Investment Advisors, which is set to launch a Greater China dedicated hedge fund (technology and consumer focus). Natixis Alternative Investments announced an event driven UCITS fund, Citadel hired Jamil Nazarali and Matt Cushman (both formerly of Knight Capital Group) to lead a new effort in quantitative trading, and Renaud Saleur left Jabre Capital (on good terms) to bring his fund to Duet Group.

Trafalgar Asset Management announced that it will close its flagship fund, the $450m Trafalgar Catalyst Fund, as a result of "material" investor redemption requests.

Hedge funds have started to report their first quarter performance and Trafalgar’s Global Credit Master Fund reported +1.34% returns) bringing the year-to-date performance to 3.7%. ALTIN AG, the Swiss alternative investment company, reported a 12.47% return for 2010.

According a TheCityUK report Hedge Funds 2011, global hedge funds' assets increased by 13% in 2010 to $1.9tln for a second successive year of growth. Winton Capital Management LLC grew by 34%, bumping Louis Moore Bacon’s Moore Capital Management LLC from the list of the top 20 hedge funds. Ferox Capital LLP has announced that its Salar Convertible Absolute Return Fund is nearing the $100mm in assets mark.

In an interview with Bloomberg Radio’s "Taking Stock," Todd Salamone, Vice President of research at Schaeffer's Investment Research says hedge funds may become bigger investors this year. Blackstone Group has announced it has established a small beachhead in Moscow and described the leveraged buyout deals in the United States as "pricey.” The world’s biggest money manager BlackRock Inc., reported a 34% rise in first-quarter profit to $568 mil......................

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