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U.S. hedge funds gained in August by buying riskier stocks and commodities: hedge fund news, week 39

Saturday, September 29, 2012

In the week-ending 28 September 2012, it was reported that Goldman Sachs Group was scheduled to launch a new hedge fund offering to its wealthiest customers; Citigroup hired former Morgan Stanley Investment Management’s Andrew Mack for its new hedge fund launch; former Royal Bank of Canada and Bank of America Corp. proprietary traders Stuart Lippman and David Liu have left Tandem Global to start a new fund at TIG Advisors; Hyaline Capital Management launched a top-down, macro-driven long/short equity hedge fund; Hal Lehr, a managing director and global head for cross-commodity trading at Deutsche Bank, resigned from the hedge fund with three associates to start a new fund; Gougenheim Investments CEO and founder Philippe Gougenheim said he would launch the Glasnost Macro Fund in early October; and three North Carolina college students launched a global macro hedge fund for Lumina Investments.

Lazard Global Investment launched the Lazard Opportunities fund after closing its Matrix UCITS platform; Hermes Fund Managers unveiled a UCITS-compliant U.S. small and mid-cap equities fund managed by Robert Anstey; and a joint venture between Lyxor Asset’s Fortune SG and Winton Capital Asia launched the first CTA in China.

The South Africa-based global provider of wealth and alternative asset management solutions Peregrine Holdings announced it would close its consulting arm Peregrine Portfolio Innovation; Hong Kong hedge fund Sharp Peak Vega Fund told investors it would return investors money due to poor performance; data from Citiwire showed that 83% of Alte......................

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