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Alternative Market Briefing Weekly

Goldman Sachs data shows, again, that S&P outperforms hedge funds YTD: hedge fund news week 48

Saturday, December 01, 2012

In the week-ending 30 November, 2012, it was reported that Muddy Waters’ founder Carson Block would launch a hedge fund that will short Chinese firms; Brummer & Partners raised $650m for its new Carve capital structure arbitrage strategy; Gramercy Advisors started a distressed credit fund with $200m in commitments; three former JPMorgan Chase and Barclays executives are planning to launch an energy hedge fund in January; Indian investment bank AGacquisitions is to launch its first hedge fund which will focus on index strategy; Newscape Capital Group launched a currency UCITS Fund; and EMCO Capital Advisers launched an alternative investment fund focused on investment in late night licensed venues in the UK. Portman Square Capital, a hedge fund to be launched by the former global head of proprietary trading at Citigroup, Sutesh Sharma, is more than half way off its launch target of $500m, Financial News reported.

Hedge fund manager Julian Barnett will shut down his Ridley Park Paragon long/short equity fund after two years, as he was unable to repeat the previous success of his Polar Capital fund.

'Alternative Alternatives' investment funds lost 1.42% in October on average (+1.99% YTD); And the Morningstar MSCI Composite Hedge Fund Index was down -0.8% that month (+4.0% YTD).

Goldman Sachs’ hedge fund trend monitor said that hedge fund returned 5.9 % on average whereas the S&P 500 was up by 14.5% at the end of Q3 (and Goldman Sachs' VIP Basket strategy returned 18.7%); Henderson’s Credit Alpha was up 5% in October; Fortress’ Macro Fund gained 12.75% YTD; the Howard Credit Catalysts returned 12.7% and saw AuM increase to $183.5m; Omega Advisors was up 27% YTD; s......................

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