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Alternative Market Briefing Weekly

Global hedge fund industry gained $75bn in 2012, hedge fund news, week 01

Saturday, January 05, 2013

In the week-ending January 4, 2013, Gabelli & Partners launched the credit hedge fund Gabelli Intermediate Credit Fund on January 1; and former Citadel head of securities Patrik Edsparr received a license to start an asset management company in Hong Kong.

The Nordic Hedge Fund index was up 0.26% in November (+3.46% YTD); the 'Alternative Alternatives' investment funds were up 0.42% in November (+2.75% in first 11 months of 2012); and the Credit Suisse Liquid Alternative Beta Index was up 1.13% in December (+3.22% YTD).

Bearish hedge funds managers lost out in 2012 with poor performance and change of fortunes for the eurozone, said Hedge Fund Research; Deepak Narula’s Metacapital Management was named the top performing hedge fund by Bloomberg Markets with 38% gains last year betting on mortgages; the two biggest hedge funds led by Citadel CEO Ken Griffin posted returns of about 26% in 2012; Daniel Loeb’s $9.3bn hedge fund Third Point ended 2012 up 21%, boosted by bet on Greek bonds; Larry Robbins’ $3.6bn hedge fund Glenview Capital outperformed its rivals with nearly 30% in 2012; and Valuewalk reported that hedge fund Bramshott gained 2.84% in November but Equinox and Providence lost during the month.

Data from Eurekahedge showed that hedge fund assets gained an additional $75bn in 2012 despite a tough market environment.

Among investments made by hedge funds, the industry gained record profits from bets that quantitative easing (QE) would boost global markets; hedge funds threw an additional $150m loan to Revel Entertainment to prevent the casino from closing down; it was reported that more Denver-based hedge funds are buying delinquent property-tax bills at county auctions as a means of landing stable returns in a tight market; TPG-Axon released its new positions including GNC Holdin......................

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