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Alternative Market Briefing Weekly

Majority of hedge funds exceeded performance expectations in 2013 : hedge fund news, week 05

Saturday, February 01, 2014

In the week ending 31 January, 2014, Preqin said that majority of investors believed hedge funds exceeded performance expectations in 2013; it added that Asia Pacific hedge funds were the top performers last year; Citi Prime Finance said composite hedge fund performance, equal-weighted across funds, rose between+0.56% and +1.1% in December 2013; Blackstone Group posted record fourth-quarter earnings as income more than doubled to $1.54bn from $670m a year earlier; CSV China Opportunities Fund reported strong performance in four years with 64% returns; Topni’s Asia Pacific long/short equity fund returned 15% in first three years since its launch in 2010; Gottex Fund’s portable alpha equity strategy gained 39% in 2013; and Deepak Narula’s flagship Mortgage Opportunities Fund ended 2013 up 0.53%.

Carrhae Capital said it was planning to launch a long-only fund next month; Lotus Peak said it would launch a fund of hedge funds riding on Japan’s so-called Abenomics; Aurum Funds said it would launch a fund of hedge funds which meets AIFMD-compliance rules; Marathon Asset started a second fund focused on distressed assets in Europe; and Context Capital joins the mutual fund arena with the launch of a multi-manager mutual fund.

Asian hedge fund PCA Investments said it would close down; Scout Capital said it would return $6.7bn to clients as co-founder Adam Weiss stepped back; and Joho Capital will liquidate after 18 yea......................

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