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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 26

Saturday, July 02, 2011

There were several launches reported last week led by the announcements that Northlight Financial LLC has introduced a $100m middle market loan hedge fund (distressed market), and that US bond giant Pimco launched the GIS Diversified Income Duration Hedged fund (floating and variable rate bonds). We also learned of launches from Knight Vinke (long/short global), Skyline Capital Management (UCITS global long/short equities), DE Shaw (energy fund), DBS AM (Japan Recovery and Asia asset allocator), and Citic Securities International Fund Management (Forex). We also heard that JPMorgan Asset Management has launched its Japan Market Neutral fund (market neutral). GSA Capital Partners launched the GSA Quantitative Futures Fund (managed futures), and the Lee Robinson of Trafalgar Asset Management has infuriated investor Goldman Sachs by raising money for a fund. Capstone Holdings Group LLC is closing its broker-dealer business, Capstone Global Markets LLC, to focus on its hedge fund.

In performance, the market volatility in May generated alpha for Global Sigma Plus. The EF Speculative Index and Commodity Program was up +2.07% in May (+10.19% YTD), and 'Alternative Alternatives' investment funds lost -1.92% in May, (+0.36% YTD).

The Parker Index was down -2.07% in May (-1.18% YTD).

Hedge fund managers were active the past week as it was reported many were selling their gross exposures to equities. Fund managers have broadened their opportunities in liability-driven investment strategies. BlackRock Financial Management, Inc., revealed its best p......................

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