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Alternative Market Briefing Weekly

Hedge funds returned to profits column in November: hedge fund news, week 49

Saturday, December 08, 2012

In the week-ending 07 December 2012, former Soros Fund founding manager William Seibold was reported to be planning to launch a distressed hedge fund for Europe; Blackstone is preparing to launch a portfolio of alternative strategies; Innocap Investment teamed up with Akira Capital to launch a commodity hedge fund; Fidelity Investment is offering its retail clients access to hedge-fund firms through a mutual fund launched in partnership with Arden A. M. Data provider Preqin said that a record 187 quant funds launched last year and account for 12% of all hedge fund start-ups since the financial crisis.

Hedge funds Kleinheinz Capital Partners and Corriente Advisors respectively sent letters to their investors to inform them they would close down and return their money; Apson Capital, which was seeded Oaktree Capital, will return money to investors, blaming the “lack of trends and low volatility across asset classes” for its closure; Tradex Global Advisors said it would shutter its flagship multi-strategy FoHFs at the end of the year and launch a series of concentrated sector FoHFs and single manager vehicles; and Diamondback Capital announced its decision to close down after panicky investors pulled out more than half a billion dollars in assets.

The Credit Suisse Liquid Alternative Beta Index fell -0.24% in November (+2.07 YTD); The Dow Jones Credit Suisse Core Hedge Fund index closed up 0.33% (+2.37% YTD); The Greenwich Global Hedge Fund Index increased +0.62% (4.90% YTD); The Lyxor Hedge Fund Index was up 0.41% (1.98% YTD); The IndexIQ Hedge Global Macro Beta Index was down -0.60% (+6.08% YTD); The Parker FX Index reported a -0.37% return (-1.28% YTD); eVestment HFN said hedge funds returned an average of 0.69% (5.97% YTD); The HFRX Global Hedge Fund Index was up 0.41% (+2......................

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