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Alternative Market Briefing Weekly

Credit hedge funds suspend summer holidays to exploit arbitrage trade: hedge fund news, week 27

Saturday, July 06, 2013

In the week-ending 5 July 2013, reports said credit hedge funds benefit from outsized trading opportunities that materialised between cash and synthetic markets. Some hedge fund managers would be even willing to suspend the summer holidays so they can fully participate and keep on trading.

Meanwhile, more investment banks are following the footsteps of Goldman Sachs and are set to offer "hedge funds for the masses," CNBC said.

Former Morgan Stanley proprietary head George Kounelakis was preparing to launch an event-driven hedge fund; former Citadel alumni Andrew Greenberg started operations of his special situations hedge fund, Saker Partners; and former UBS trader Gerard Satur raised A$10m ($9.1m) to launch a global macro strategy.

The HFR Indices were down -1.33% across the board for June (+3.16% YTD); The Credit Suisse Liquid Alternative Beta Index fell 1.07% (+2.20% YTD); The Greenwich Global Hedge Fund Index dropped -1.15% (+3.54 YTD); The IndexIQ Hedge Composite Beta Index -1.97% (-1.86% YTD); The UCITS Alternative Index lost 1.37% (+0.94% YTD); And the UCITS compliant hedge funds fell 2.33% (+0.35% YTD).

Noctua Partners reported the performance of its global macro fund, which was up 3.06% YTD; data from Bank of America showed that hedge funds were down 2.10% after June's big sell off; but stock-picking hedge funds, like Lansdowne Partners, Egerton Capital, Odey, Chilton and Horseman ma......................

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