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As August settles in the number of launches has dwindled, although we did hear that Fund Evaluation Group raised $300m for a new fund, and Lyxor Asset Management confirmed a plan to launch a UCITS hedge fund platform during the Opalesque France Roundtable.

Hedge funds assets expanded after investors poured money into the industry ahead of the global market volatility. Leon Cooperman, Chief Executive Officer of New York-based hedge fund Omega Advisors Inc., sold all of his Bank of America Corp. and Citigroup Inc., shares.

Hedge funds rebounded in July and outperformed global markets by +3.21% after finishing the month up +2.52%YTD. Galloway Global Emerging Markets Fixed Income Fund delivered +2.14% returns in July (+7.00% YTD). K2 Asset Management (KAM) has recorded an after-tax profit of $15.4 million for the 2011 financial year. Mark Spitznagel's hedge fund Universa was up 20%-25% this year.

The market rout last week saw mixed performances as big names like Brevan Howard, Man Group's AHL and Winton managed to make money. Also profiting from the worst route in the equity markets since 2008 were Vulpes Investment Management, Ballingal Investment Advisors Ltd., Riley Paterson Investment Management, and Och-Ziff Capital Management Group LLC.

Other hedge funds felt the crunch of the market volatility and lost money. Most hedge funds are struggling from the extreme sell-off in financials, said Troy Gayeski, senior ......................

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