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Alternative Market Briefing Weekly

Hedge funds gained $225bn+ in 2013: hedge fund news, week 01

Saturday, January 04, 2014

In the week ending 03 January, 2014, the Eurekahedge Hedge Fund Index gained 8% in 2013, hedge funds gained $225bn+ in 2013; The Parker FX Index was down 0.26% in November, -1.04% YTD (2013); And the Scotiabank Canadian Hedge Fund Index was up 1.20% (0.38% YTD) on asset weighted basis.

Gottex Fund said it would launch a new mutual fund that will allow retail clients to sample asset classes normally reserved for millionaires.

Higgs Capital said it would shut down after a wave of investor redemptions.

SAC Capital posted positive performance, with 20.10% returns on its last year managing other people’s money as a hedge fund; despite a dismal year, several hedge funds outperformed the S&P 500 in 2013; a few brave hedge fund investors scored major market-beating wins in 2013, said The Journal; Dan Loeb’s Third Point fund beat most rivals last year as it flagship fund gained 25%; last year was a great year for bread and butter strategies in Wall Street; and stock pickers lost again in 2013, while the market is looking to close out the year with a 29% gain.

David Tepper is expected to raise his assets with a $3bn-plus payday in 2013, making him the highest paid hedge fund manager; the top brass at Marathon Asset hedge fund shared a £317m payout despite a bust-up that led to the departure of one of its star managers and co-founders; and John Paulson received a fresh $490m from Anthony “the Mooch” Scaramucci’s rotation from bonds to stocks.

Among investments made by hedge funds, it was said that hedge fund investors are looking at opportunities in risky assets that foreign and US banks are no longer keen to exploit; North Tide raised its stakes in Heathways to 11%......................

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