By Benedicte Gravrand, Opalesque London: A roundup of last week’s hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments world. Last week, we heard of fund launches from Samena (Japan); Cypress Lane (Asia); Ospraie (2 x commodity); Duet (MENA); QPRC (patent); Blue Marble (clean-tech); UBP (FoHFs); and Everest Investment Advisors. $3bln Satellite A. M. closed after withdrawals; Schonfeld Group shut its asset management arm; and Blackstone cancelled its plan for an Asian event-driven hedge fund. The Newedge Alternative Edge Short Term Traders Index was down 0.97% in April, -2.37% YTD, and the CTA Index -1.96%, -4.01% YTD; Credit/Suisse Tremont Hedge Fund Index 1.68%, 2.55% YTD; Hennessee Hedge Fund Index 3.84%, 5% YTD; HFN Hedge Fund Aggregate Average 4.3%, 4.5% YTD (and estimated hedge fund assets increased by +0.29% to $1.697tln); Barclay Hedge Fund Index 5.05%, 5.43% YTD; Eurekahedge Hedge Funds Index 3.2%, 4.1% YTD (biggest monthly gain since January 2006); Australian Fund Monitors main index 3.52% (est.), -7.93% yoy; Barclay CTA Index -0.51% (est.), 2.34% YTD - following directionless markets and conflicting trends. WSJ.com reported that a group of hedge funds that focus mostly on short investments were getting hammered by a big pop in stock markets over the past two months; it was also reported that the quants continued getting clobbered; Credit Suisse research found that around one in six hedge funds continued to curtail withdrawals at the end of March, despite investors being under less pressure to pull their money out as the markets stabilised; HFR said that the Asian hedge fund industry was in a position for growth in 2009; a new Credit Suisse/Tremont paper discussed convertible arbitrage’s ability to generate positive returns in 2009; and Reuters.com reported that many hedge fun...................... To view our full article Click here |
Alternative Market Briefing Weekly
Saturday, May 16, 2009
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