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Alternative Market Briefing Weekly

Hedge funds average returns of 3 to 4% YTD but underperform equity markets – and other hedge fund News - Week 10

Saturday, March 10, 2012

In the week-ending February 10, 2012, it was reported that JP Morgan’s head of proprietary trading Mike Stewart had left the firm to launch his own hedge fund to be called Whard Stewart; the Danish asset management firm Sparinvest said it would launch two emerging market value Ucits funds in May; former college wrestling champion Noel Thompson will launch his first hedge fund, the $50m Thompson Global Partners, on March 26; BNY Mellon launched the UCITS-compliant emerging market corporate bond fund to be run by its subsidiary, Insight Investment Management.

Former Huatai Asset Management CIO Yang Yang and veteran derivatives trader Yiming Liang have joined forces to launch a macro hedge fund Goldstream Absolute Return Fund; Oaktree Capital Management was reported to have raised $3.9bn to launch the distressed European asset fund, the European Principal Fund III; options-trading hedge fund manager Gargoyle Group has launched what it claims is the first market neutral fund that has a continually-monitored index options overlay; and former Mitsubishi Mitsubishi UFJ Morgan Stanley Securities credit trader Yoshihito Asakawa will start a Japan-focused hedge fund in May with about ¥500m in initial capital.

The HFRI Fund Weighted Composite Index gained +2.14% in February (+5% YTD); The Eurekahedge Hedge Fund Index went up +2.06% (4.30% YTD): The Hennessee Hedge Fund Index advanced +1.72% (+4.07% YTD); The Dow Jones Credit Suisse Core Hedge Fund Index closed up +1.31% (3.60% YTD); The Credit Suisse Liquid Alternative Beta (LAB) Index was up +1.71%; And the UCITS Alternative Index Global returned +0.87% (+2.25% YTD).

Chicago-based hedge fund manager AM Capital ......................

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