In the week ending 06 Dec, 2013, experts in Europe warned that UK hedge funds might relocate because of the government’s crackdown on partnerships; the Co-operative Bank bondholders voted overwhelmingly to allow hedge funds to take major stakes in the new group; European charities have demanded to know why they were frozen out of the UK Royal Mail flotation; and European banks have turned to hedge funds to help them raise deeply subordinated hybrid capital in 2013.
Franklin Square Capital launched the FS Global Credit Opportunities Fund; former ICBC portfolio managers Kang Hao and Jimmy Weng said they would start a China fund with $100m in assets next year; former Man Group fund manager Richard Bateson left the firm to establish a new investment boutique; Asia Frontier Capital announced the launch of AFC Vietnam Fund; and Sciens Alternative launched a long-short credit sector focused European credit fund called Eiffel Credit Opportunities.
Meditor Capital is shutting its European equity fund, citing an internal review and new rules restricting short-selling.
The Emanagers Total Index gained 1.59% in October (+3.9% YTD); The Greenwich Global Hedge Fund Index rose +0.85% in November (+8.27% YTD); And the UCITS Alternative Index was up +0.49% (+3.71% YTD).
David Einhorn’s Greenlight Capital posted positive performance in November with 4.7% gains (19.1% YTD); Northwest Warrant Fund returned 203% in the first 10 months betting that Japan’s stimulus will bolster stock prices; Clareville Capital’s Pegasus Fund wa......................
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