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Alternative Market Briefing Weekly

Opalesque Roundup: Age outweighs size for hedge funds: hedge fund news, week 20

Sunday, May 11, 2014

In the week ending 09 May, 2014 new reports claimed that age would play a greater factor in relative performance than size as young hedge funds posted the highest cumulative returns since 2003. The 25 highest-earning hedge fund managers in the United States took home a total of $21.15bn in compensation in 2013; banks again are doling out money to hedge funds and other investors to finance purchases of complex debt securities; banks and hedge funds are also reported to push into peer-to-peer lending. Meanwhile, banks and hedge funds are also said to have made curious deals on new structured toxic-waste securities. Goldman Sachs extended a loan to Steven Cohen backed by his $1bn art collection; and Sir Michael Hintze donated £5 million ($8.48m) to London’s Natural History Museum.

Former Lehman economist John Llewellyn said he planned to launch a macro hedge fund; Blackstone Alternative Asset said it would launch a regulated fund of hedge funds in Europe; Carl Icahn's son, Brett Icahn, and David Schechter will launch a hedge fund management company; startup bitcoin fund Vaurum received $4m seed funding from Battery Ventures, Tim Draper and Steve Case; City Financial’s Asia Macro hedge fund, Counterpoint, was launched with over $120m in assets; and former Gartmore star Guillaume Rambourg launched a second UCITS-compliant fund for his Paris-based investment firm.

Schroders will close down its Alternative UCITS fund sub-managed by London-based credit specialist CQS Asset Management.

The HFRI Fund Weighted Composite Index posted a decline of -0.17% in April (+0.9%); The Greenwich Global Hedge Fund Index ......................

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