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Alternative Market Briefing Weekly

Hedge funds adopt a wait-and-see approach to compliance with AIFMD regulation: hedge fund news, week 41

Saturday, October 12, 2013

In the week ending 11 October, 2013, it was reported that hedge funds are adopting a wait-and-see approach to compliance with regulation due to the complexity of workload involved, according to Deutsche Bank's survey of European and US hedge fund managers.

MontLake, ML Capital’s UCITS-compliant funds platform, announced the launch of the FVC Alternative Risk Premia UCITS Fund, run by Future Value Capital; UK-based Ignis AM launched its latest absolute return strategy, the Ignis Global Macro Government Bond Fund, with £25m ($40m) seed money; Lone Pine Capital is launching Lone Tamarack, a long/short fund, in January’14; analyst Meredith Whitney is raising money for a new long/short equity hedge fund; and Orso Capital is to launch the Quadrant Plus Partners Strategy, an equity hedge fund.

Jeffrey Vinik, who shut his hedge fund earlier this year after returns slumped, is providing $20m in seed capital for an investment firm run by his former stock picker David Iben, said Bloomberg.

FX Concepts is to wind down its investment management business over the next few weeks due to heavy outflows; the Tiger Keystone Partners portfolio, which lost $1m last year, decided to shut down despite its $250m investment from Pennsylvania's state pension system, Philly.com reported; and Sweden-based quant hedge fund Density is to close down after a poor performance.

The Greenwich Global Hedge Fund Index rose 2.35% (est.) in September (6.07% YTD); The ......................

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