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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 42

Saturday, October 22, 2011

On the fund launches front, Crispin Odey launched the Odey Odyssey global macro hedge fund for Tim Bond; Steve Eisman teamed up with Ed Cabral and Mark Weiner to launch Emrys Parners (long/short) in January; Sanjay Puri and Philip Chen are preparing for the launch of their first hedge fund, Sankofa Capital (small- and mid-cap tech, media and telecom); Neptune Investment Management will launch the Neptune Global Long/Short Sector Fund (long/short UCITS) on November 1st; Aspen Partners launched the Aspen Managed Futures Strategy Fund; and Fortress Investment Group is planning to launch its second hedge fund in Asia next year.

Singapore-based hedge fund Komodo Capital Management is liquidating its flagship global macro fund KC Asia; its founder told Reuters the fund had returned money to investors and was moving operations to Australia for "personal reasons".

Data tracker Hedge Fund Research said that the industry’s assets fell to $1.97tln as the sector posted its worst performance quarter in history (the HFRI Fund Weighted Composite Index declined by 6.2% in Q3, wiping out a small H1 gain and bringing YTD performance to -5.4%); and GlobeOp Financial Services said that forward hedge fund redemptions continue to be low on a historic basis (its Redemption Indicator for October measured 2.51%, down from 3.11% in September).

The past two months have been among the worst on record for the global hedge fund industry with average returns down 5.73%, declared Financial News; but LD Capital’s equity hedge fund Marlon Fund 1 reported a +15.30% returns since its inception a year ago despite the volatile market conditions; Global Sigma Group’s fund ended September up 3.89% (+14.50% YTD) after anticipating s......................

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