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Alternative Market Briefing Weekly

Equity hedge and event driven hedge funds expected to be winners in 2013: hedge fund news, week 40

Saturday, October 05, 2013

In the week-ending 4 October, 2013, hedge fund manager GAM said many equity hedge and event driven hedge funds had emerged as winners in September and expects this trend to continue through the rest of 2013.

Some 500 hedge funds were launched across the globe in the first seven months of 2013, said data provider Eurekahedge; UBS O’Connor said it would open its first Asia hedge fund, launched in August, to investors later this year; and Bruce S. MacDonald is reportedly forming Crayna Capital, a mission-based fund of hedge funds manager and investment consulting firm.

Loeb King Capital launched an event driven mutual fund that will use alternative strategies; Cowen Group’s Ramius launched an event driven equity mutual fund that focuses on activism; Universal-Investment and Stratton Street jointly launched a UCITS Renminbi Bond Fund; and the Alpha UCITS Platform launched a UCITS version of Italia Equity fund with $80m in initial capital.

The Parker FX Index was down 1.33% August (-0.78% YTD); And the Morningstar MSCI Composite EW Hedge Fund Index fell 0.66% (est.) (4.06% YTD). The HFRX Global Hedge Fund Index gained +0.96% in September (+4.29% YTD); The Credit Suisse Liquid Alternative Beta (LAB) Index was up 1.39% (+4.29% YTD) The Greenwich Global Hedge Fund Index rose +2.35% (est.) (6.07% YTD); The HFRU Hedge Fund Composite Index gained 1.02% (+2.14% YTD); And the IQ Hedge Composite Beta Index rose 1.99% (+1.17% YTD).

The latest Citi Prime Finance report said that hedge funds’ performance had dragged in August and ranged from -0.86% to -0.49%; Ping Capital’s Exceptional Value Fund ......................

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