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Alternative Market Briefing Weekly

Asset concentation at largest US and UK hedge funds goes on unabated: hedge fund news, week 14

Saturday, March 29, 2014

In the week ending 28 March, 2014, Absolute Return’s latest Billion Dollar Club showed the largest 293 U.S. hedge funds now manage a record $1.71tln in assets while the UK’s largest hedge funds are getting bigger and now control 82% of assets under management. Schroders, Henderson Global Investors and Jupiter Asset Management are expected to win big from the redrawing of the UK’s pension overhaul; Shanghai-based hedge fund CSV China Opportunities Fund crossed $50m in assets; and BNY Mellon is restricting flows into two funds run by Citywire AAA-rated manager Andy Cawker.

Blue Sky Alternative said it would launch a diversified fund within the next one to two months; Context Asset Management launched its first hedge fund-of-funds mutual fund; and Capital Fund Management launched a new product aimed at institutional investors with half the fees typically offered by hedge funds.

GLP Partners launched an alternative emerging market fund that will run along absolute return macro guidelines.

Stockholm based CB Fonder will close down CB Hedge fund after suffering losses; Tudor Investment will return money to clients from its $120m managed-futures fund after three years of losses; and the $310m OVS Capital will shut down after founder Sam Morland decided to retire.

The Morningstar MSCI Composite AW Hedge Fund Index was up +2.2% in February (+8.0% YTD) while the Parker FX index fell -0.55% (-1.03% YTD).

Hedge funds posted performance ......................

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