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Alternative Market Briefing Weekly

Hedge funds (excluding CTAs) average returns of 6%+ in 2012: hedge fund news, week 3

Saturday, January 19, 2013

In the week-ending January 18, 2013, it was reported that Skanska group’s Jonas Granholm and managing director Gustav Lundeborg had teamed up with former Skanska CFO Hans Biörck to launch a hedge fund; former SAC Capital portfolio manager Charles Simonian said he would start a long-short equity hedge fund called Trove Capital Management; former Soros Fund Management and SAC Capital Advisors portfolio manager Aaron Cowen raised $165m for the launch of Suvretta Capital; reports said that Palisade Capital Management had launched a long/short equity fund to be managed by hedge fund veteran Paul Flather; Brevan Howard co-founder Chris Rokos launched a family office; Paul Green left Trilogy Financial Partners and set up a long/short credit fund; and Morgan Stanley partnered with Quantitative Investment Management to launch a new UCITS fund.

Tim Flannery said he would close down Copia Capital because of poor performance and investor redemptions, but would restart a new fund in March; Andrew Rowe, head of commodity hedge fund SandRidge Capital announced he would retire and close down the fund despite an 11% gain last year; and China’s second largest asset manager, E Fund, closed its emerging markets hedge funds due to poor returns and dwindling assets.

The Bloomberg Hedge Funds Aggregate index was up 0.6% in December (+6.7% YTD); The HFRX Indices saw the Global Absolute Return index ending 2012 up 0.88% and the Global Hedge Fund Index up 3.51%; The Barclay Hedge Fund Index gained 1.63% (+8.27% in 2012); The RBC Hedge 250 Index was up +1.11% (+5.81% in 2012); The Dow Jones Credit Suisse Hedge Fund Index finished the month up 1.48% (+7.67% in 2012); The Bank of America Merrill Lynch Global Diversified Hedge Fund Index was up 5.63% in 2012; The Barclay CTA Index gained 0.48% (-1.64% in 2012);......................

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