In the week ending 25 April, 2014, eVestment’s Hedge Fund Asset Flow Summary for March and Q1 2014 showed hedge fund assets reached $2.931tln; the HFR Global Hedge Fund Industry Report said hedge fund assets rose to $2.70tln in Q1 2014; the SS&C GlobeOp Forward Redemption Indicator for April 2014 measured 3.23%, down from 3.81% in March; and Gottex Fund said its combined client assets reached $8.6bn as at 31 March 2014; and hedge funds took profits on cross asset relative value options trades.
A former team from Soros Fund Management led by Kenneth Lee and Michael Yoshino said they would launch a $150m Hong Kong-based hedge fund; Neuberger Berman launched its fifth emerging market debt fund as it extend its reach into the sector; Rothschild Asset and Larch Lane announced a joint venture for the launch of a liquid alternatives 40 Act fund; Virtus Investment introduced three multi-manager alternative mutual funds that will employ a range of hedge fund and alternative strategies; and Silk Invest partnered with Bramer Asset to launch the Emerging Africa Bond Fund.
The Scotiabank Canadian Hedge Fund Index ended March -0.87% (3.59% YTD) on asset weighted basis; And the Morningstar MSCI Composite AW Hedge Fund Index declined 0.4% (+0.84 YTD).
Event-driven was top performing hedge fund strategy in Q1, said Preqin; Crispin Odey’s flagship hedge fund, Odey European suffered a 4.63% decline for the year after slipping 7.2% in March; Blackstone Group said first-quarter profit rose 30% on higher fees; David Einhorn's Greenlight Capital fell 1.5% in Q1 and warned of a second 'tech bubble'; Carlyle’s Emerging Sovereign Group posted losses in two of its hedge funds this year after wrong bets on emerging markets; Senvest Capital, which returned 79.4% last year, has set a goal to repeat the huge earnings; Discovery Capital slumped in April to bring its losses this year to 12%; UMJ Galleyla returned 18% this year as it outperfo......................
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