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Alternative Market Briefing Weekly

Opalesque Roundup: Hedge fund launches in 2016 lowest since 2008: hedge fund news, week 02

Saturday, January 14, 2017

In the week ending 13 January, 2016, data from Hedge Fund Research showed that the number of hedge fund launches in 2016 is set to be the lowest since 2008 with only 576 new funds in the first three quarters.

On the FinTech side, LendingRobot has launched an automated hedge fund to buy credits from online lenders using blockchain technology. Sagewood Asset is officially launching as an independent $1.2bn asset manager focused on volatility strategies; EFG Asset Management has launched a new multi-manager fund to tap the best opportunities from within hedge funds; and Amplify ETFs has filed for an actively managed ETF that will provide unique exposure to the MLP space.

The Lyxor Hedge Fund Index finished 0.1% as of January 3; The HFRI Fund Weighted Composite Index advanced 1.1% in December, bringing the annual return to 5.6%; The Eurekahedge Hedge Fund Index was up 1.01% (+4.48% YTD); And the flagship SG CTA Index closed 2016 slightly negative -2.86% and SG Trend Index -6.19%. The SS&C GlobeOp Hedge Fund Performance Index was up 1.29% in December;and the Capital Movement Index reported a 3.05% decline of January net flows.

Hedge funds also reported declines in profits in 2016 as performance falls and the global instability unsettled most investors.

Brevan Howard’s flagship fund gained 3% last year after spending much of the year in the red; Crispin Odey's main hedge fund slumped 49.5% in 2016, its worst annual decline; Andy Hall's Astenbeck Capital Management fund surged 8.1% in December, while Pierre Andurand's Andurand Capital posted a 6.8% gain in the same month; Gondor Partners LP ......................

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