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Hedge funds engage with JP Morgan, Facebook stocks - hedge fund news, week 20

Saturday, May 19, 2012

In the week-ending 18 May, 2012, it was reported that Trian Fund Management said it wanted to raise $2bn to launch a new fund, Trian Partners Strategic Investment Fund II; Los Angeles-based asset management firm TCW is raising $250m for its new hedge fund focused on foreclosed homes; Farallon Capital analyst Nate Singer announced his plan to launch a $50m long/short hedge fund in July; former Citadel analyst Bruce Ivory is spearheading the launch of the bank’s first credit-focused hedge fund at Barclays; Financial Risk Management is raising up to $100m for a new strategy dedicated to Japan-focused managers; two former QVT Financial principals are prepping a new event driven fund for Q3 this year; and Altegris Advisors announced the launch of the Altegris Equity Long Short Fund.

The HFRX Global Hedge Fund Index was down 1.22% in mid-May (+2.01% YTD); The Lyxor Hedge Fund Index was almost flat in April with a performance of -0.02% (+1.52% YTD); GlobeOp launched its hedge fund performance index last month which showed a gross performance of +0.51% in April (+3.66% YTD); The RBC Hedge 250 Index returned -0.04% (+3.37% YTD); The Eurekahedge Hedge Fund Index went down 0.24% (est.) (+3.60% YTD); The Dow Jones Credit Suisse Hedge Fund Index finished the month down 0.04% (+4.0% YTD); And the Greenwich Global Hedge Fund Index fell -0.46% (+4.0% YTD).

Chicago hedge fund AM Capital blamed the “dysfunctional” governments in Europe and U.S. for the industry’s poor performance last month; Man Group led the worst performing hedge fund stocks, according to Bloomberg; Pierre-Henri Flamand’s hedge fund, Edoma Partners reported a -0.85% loss in Q1; Galloway Capital Emerging......................

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