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Alternative Market Briefing Weekly

Uproar about new AIFMD draft; average March returns are flat – and other hedge fund news - Week 14

Saturday, April 07, 2012

In the week-ending April 5, 2012, it was reported that Henderson Global Investors had launched the Henderson All Asset Fund; Stonehenge Asset Management will launch its third multi-strategy hedge fund in April; former Nomura trader Benjamin Fuchs will launch a multi-strategy hedge fund on June 1 with backing from Normura; long/short technology hedge fund Lamond Capital Partners began trading April 2 with $175m from institutional investors, including $150m in seed money from Meritage Group; Sparx Group plans to launch a fund in July to invest in renewable-energy projects in Japan as the country reshapes its energy policy; RiverPark Advisors started the RiverPark Long/Short Opportunity Fund, a new open-end mutual fund which is a conversion of an existing hedge fund launched by RiverPark in 2009; Tiger cub Adam Leitzes plans to start his own hedge fund betting on Asian stocks; Blue Ridge Capital Management partner and portfolio manager David Greenspan resigned, together with three people, and may launch a fund this year; Adam Gold, formerly a portfolio manager at Gilder Gagnon Howe & Co, launched a maiden hedge fund; Stark Investments has launched a new mortgage hedge fund; and SG Alpha launched a dedicated Ukraine hedge fund.

The investable hedge fund composite Index calculated by BofA Merrill Lynch was up 2.39% quarter-to-date as of March 28, underperforming the S&P 500 which was up 11.76% in Q1-2012. BofA ML also calculated that the average hedge fund index return for February was 1.61% (3.5% YTD) %; The UCITS Alternative Index Global returned -0.49% in March bringing its YTD to 1.75%; The Credit Suisse Liquid Alternative Beta Index went down 0.83%, +2.21% YTD%; The HFRX Global Hedge Fund Index posted narrow a decline of -0.02% (+3.40% YTD) %; The Dow Jones Credit Suisse Core Hedge Fund Index closed down 0.82% (+2.75% YT......................

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