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Alternative Market Briefing Weekly

SAC Capital did well in 2012 but now is trying to prevent redemptions: hedge fund news, week 2

Saturday, January 12, 2013

In the week-ending January 11, 2013, it was reported that Pershing Square is currently forming Pershing Square Holdings Ltd., a new fund headed by Ackman which will go public once it has gathered $3bn in AuM; Tourbillon Capital is to launch a long/short equity hedge fund with $250m on January 14; Capital Partners launched a second real estate debt fund; Swiss CTA shop Andreani & Associés announced plans to launch a multi strategy quant fund by the middle of the year; Tony Hall set up Hall Commodities with former colleague Arno Pilz five months after leaving Duet Commodities Fund; Soros’ Hong Kong portfolio manager Jixin Dai left the firm to launch an Asia-focused fund; and former Tudor Investment portfolio manager Andrew McMillan set up his own Singapore shop to launch his own hedge fund.

Hong Kong firm Triskele Capital closed down two hedge funds, citing poor returns and investor redemptions.

The HFRI Fund Weighted Composite Index gained in 1.2% December (+6.2% in 2012); the Dow Jones Credit Suisse Core Hedge Fund index was up 0.99% (+3.38% in 2012); the Greenwich Global Hedge Fund Index rose +1.58% (est.) (+6.27% in 2012); the Bank of America Merrill Lynch hedge fund composite Index was up 3.02% in 2012; Eurekahedge said hedge funds gained 6.19% in 2012 and assets stood at $1.78tln; the Hennessee Hedge Fund Index returned 1.45% (+6.99% in 2012); the Lyxor Hedge Fund Index gained 1.1% (+3.1% in 2012); the UCITS Alternative Index Global was up 0.50% (+1.63% in 2012); And hedge funds posted an average of +1.5%......................

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