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Arbalet, CBRE, Kingsmead, RiverCrest, Credit Suisse to launch while Octopus, Clairvoyance, Pangu, Iridian, Arrowhawk are closing - hedge fund news, week 1

Saturday, January 07, 2012

2012 was greeted with new launches as Arrowhawk Capital Partners’ Jennifer Fan announced she would start the Arbalet Capital LLC on April 1 with at least $500m; CBRE Clarion Securities announced the launch of the CBRE Clarion Long/Short Fund; former FrontPoint portfolio manager John Foo is to launch an Asia-focused hedge fund (Kingsmead Asian Alpha Opportunities Fund) that will start trading with about $50m on March 1 in Singapore; boutique fund manager RiverCrest Capital launched the European Equity Alpha Fund; and former head of securitized products at Credit Suisse Group Albert Sohn is reported to be planning to launch a hedge fund this year within the bank’s asset management unit.

But there were also reports of fund closures as Octopus Investments said it shut down its £1.6m Absolute European fund due to a lack of demand from investors; some Asia-focused hedge funds, including Clairvoyance and Pangu have joined the list of hedge funds closing this year; Iridian Opportunity Fund is set to liquidate after poor performance and shrinking assets; and Arrowhawk Capital Partners will unwind its portfolios, including the $100m investments from the Kentucky Retirement Systems.

MSCI released its 2011 performance of MSCI Indices which showed a significant slowdown in global equity markets; The Credit Suisse Liquid Alternative Beta Index was up +0.92% in December (-0.06% in 2011); The UCITS Alternative Index Global was up +0.35% (-3.45% in 2011); And the Bloomberg Aggregate Hedge Fund Index dropped -0.9% (-4.9% in 2011).

Fund managers have also started to release their year-end performance; apparently HSBC’s hedge fund report #53 provides a list of hedge fund winners and losers in 2011; Steven Carhart, portfolio manager at Trust & Fiduciary Management Securities, said that hedge funds surrogate have been returning between 7% and 9% profits; Janchor Partners Pan Asian Fund, the fund run by the former Asia head of the Chi......................

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