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Alternative Market Briefing Weekly

Hedge fund launches rose in 1Q13 from the previous quarter to 297: hedge fund news, week 24

Saturday, June 15, 2013

Hedge fund launches rose in 1Q13 from the previous quarter, and totalled 297 funds, the third highest quarterly launch total since the beginning of 2008, reported HFR. And hedge fund liquidations declined to 196 in 1Q13, from 211 and 238 in the prior two quarters.

In the week ending June 14, 2013, it was reported that Eugene Lee and Paul Singh had left Regiment to launch a long/short credit fund; Felix Zulauf and his son Roman will be launching a global macro hedge fund at Zug-based Vicenda Asset Management; Algebris Investments is preparing to launch a new low-fee, long-only fund to invest in global financial stocks and bonds; former Citadel’s head of credit Chris Boas put on hold his hedge fund launch due to money concerns; and Loomis Sayles intends to launch a UCITS-compliant version of an existing long/short credit fund.

The HFRI Fund Weighted Composite index gained 0.5% in May (+4.92% YTD); The Lyxor Hedge Fund Index reported a gain of 0.33% (+3.53% YTD); The Hennessee Hedge Fund Index was up 1.79% (+7% YTD); The Eurekahedge Hedge Fund Index rose 0.20% (+3.89% YTD); And the SS&C GlobeOp Hedge Fund Performance Index returned 0.77% (+7.14% YTD).

John Paulson reported strong performance in his largest hedge funds in April betting on deals and distressed debts, said Reuters; but Paulson’s Gold Fund fell 13% in May to make this year’s loss to 54%, said BusinessWeek; and Metacapital Managemen’s flagsh......................

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