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Alternative Market Briefing Weekly

Hedge fund assets reached $2.931tln: hedge fund news, week 18

Sunday, April 27, 2014

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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