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Alternative Market Briefing Weekly

New hedge fund launches rose in 2012: hedge fund news, Week 11

Saturday, March 16, 2013

In the week ending March 15, 2013, Hedge Fund Research reported that new hedge fund launches had risen at year end 2012, narrowly trailing total launches for 2011 as total hedge fund industry assets increased to a record of $2.25tln; former Frontpoint manager Thomas Monaco is to start an Asia-focused hedge fund; Malta-based hedge fund Exante launched the first bitcoin fund in the region; and former GLG partners Bart Turtelboom and Karim Abdel-Motaal are to initiate one of the largest European hedge funds this year.

Credit Suisse said it would close down its unit that invests in hedge funds and other investment managers in compliance with new rules.

The Hennessee Hedge Fund index reported gains of 0.23% in February (+3.01% YTD); Eurekahedge’s Hedge Fund Index was up 0.13% (2.34% YTD); The Barclay Hedge Fund Index reported that the sector profited 0.42%, and brought YTD returns at 2.92%; The SS&C GlobeOP hedge fund index gained 0.37% (+3.05% YTD); And the Barclay CTA Index was down 0.53% (+0.77% YTD).

As for performance, Chris Hansen’s Valiant Capital lost 7.44% in the fourth quarter of 2012, compared the S&P 500 stock index which fell just 1% during the period; Clareville Capital’s flagship fund, Pegasus, gained almost 16% in the first two months of 2013; UCITS hedge fund continued to underperform hedge funds, according to the latest study by Edhec Risk Institute.

According to the bi-annual Absolute Return Billion Dollar Club, some 269 American hedge fund managers are managing a combined assets of $1.46tln; a joint report by BarclayHedge and TrimTabs showed that the hedge fund industry took in $4.3bn in January 2013, compared with outflows of ......................

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