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Alternative Market Briefing Weekly

Only 11% of hedge funds outpaced the S&P 500 so far this year, says Goldman Sachs: hedge fund news, week 34

Saturday, August 25, 2012

In the week-ending 24 August 2012, Silk Road Management announced the launch of the Silk Road M3 Fund that will focus on Myanmar, Mongolia, and Mozambique; Eric Rosen, the co-head of UBS AG’s fixed-income, currencies and commodities business for the Americas will be leaving the firm next month to start a new hedge fund; and CF Partners said it would launch a commodity hedge fund later this year.

Montecito, California-based hedge fund house Evolved Alpha announced it would close the firm and has already returned investors capital; and Plural Investments founder and portfolio manager Matt Grossman said he would close the fund in September as he needs a more flexible mandate.

Salient Partners last week launched the Risk Parity Index that will enable investment managers to measure the performance and effectiveness of their risk-parity strategies against an industry standard and passive index; The HFRX Global Hedge Fund Index posted gains of +0.50% through mid-August (2.28% YTD); The Morningstar MSCI Composite Hedge Fund Index was up +1.9% in July (+3.7% YTD), and said the hedge fund sector had leaked $6.5bn in June; And the Scotiabank Canadian Hedge Fund Index (asset weighted) was up +0.96% (-7.57% YTD).

Only 11% of hedge funds outpaced the S&P 500 in terms of performance as at August 3 this year, said a report from Goldman Sachs; US based asset manager HanKar Capital’s relative val......................

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