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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 8

Monday, February 23, 2009

By Benedicte Gravrand, Opalesque London: A roundup of last week’s hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments world.

Last week, we heard of fund launches from King’s Crossing Capital (quant); Fuchs Capital (L/S equity); Geni (Gulf opps): Krusen Capital (platform); Iceberg (FoHFs); Jones & Co (multi-strats); Pictet (themes); Taurus (Shariah-compliant); Wavecrest (long-biased); Auriel (market neutral); and Marinvest (L/S European). Swiss private bank Reichmuth closed its Matterhorn FoHFs.

The RBC Hedge 250 Index returned 1.48% (est.) in January; The AlternativeEdge Short-Term Traders Index was up 0.94%, the CTA Index up 0.17%; The Credit Suisse/Tremont Hedge Fund Index went up 1.09%; The HFRI Fund Weighted Composite Index returned -0.04% (est.); The Barclay CTA Index went down 0.13% (est.); The Scotia Capital Canadian HF index finished up 3.09% / 1.94%; The Eurekahedge hedge fund index returned 0.2%; Most EDHEC HF indices were positive. And a EDHEC report showed that almost all hedge fund strategies had posted their worst losses ever in 2008.

A Credit Agricole report revealed that hedge fund assets had declined by $700bn in 2008, and that the total number of funds went from 9,700 in 2007 to 8,900 now. UBS said that global hedge funds assets might drop to $1.2t......................

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