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Alternative Market Briefing Weekly

Opalesque Roundup: Over 70 cryptocurrency hedge funds in launch pipeline: hedge fund news, week 33

Saturday, August 12, 2017

In the week ending 11 August, 2017, in FinTech, hedge funds that are tied to cryptocurrencies are exploding, with over 70 launches in the pipeline. This meteoric rise of bitcoin is rippling through financial markets and is costing some investors billions. Finles Capital is anticipating oversubscription for the EUR100m ICO of FundCoin; YouTube said that AI is better than humans at removing extremist videos post-brand safety crisis. Chinese cryptocurrency NEO completed its rebranding from Antshares and is up 13000% this year; B2C2is suing Quoine over bitcoin trades that were allegedly wrongfully reversed, which resulted in proceeds being deducted. A much discussed letter by Neal Berger indicated that the robot takeover is postponed as quant funds are flattened in equities.

Arion Investment Management is planning to launch its first commodities hedge fund to trade base and precious metals.

The Lyxor Global Macro Index was down -0.8% from 25 July to 01 August (-4.3% YTD); Hedge funds extend gains with equity long bias managers returning 9.81% for the year; The eVestment Hedge Fund Performance Index returned an average +1.21% in July (+4.77% YTD); The gross return of the SS&C GlobeOp Hedge Fund Performance Index for July 2017 measured 1.24%; The Barclay Hedge Fund Index rose......................

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