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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 1

Saturday, January 09, 2010

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 industry.

That week, we heard of fund launches from Adapto (energy); Systematic Alpha (CTA); Compass EMP; SWIP (multi-asset); Legal & General (fixed income); and Atom Capital (Japan).

The Credit Suisse Liquid Alternative Beta Index reported that Long/Short equity hedge funds had finished 2009 up 13.12%; South Africa’s Peregrine Prime Hedge Fund Index was up 22.15% for the year; The IndexIQ replication index’s Hedge Composite Beta Index was up 19.25%; The Hennessee Hedge Fund Index gained +24.6%, experiencing its best year since 1999 and performing in line with traditional equity markets.

It was reported that leading hedge funds such as Hayman Advisors, Greenlight and Perella Weinberg were betting on a collapse of the Japanese government-bond market; Och-Ziff recouped most of its losses of 2008; Gartmore is to merge its Japan Opportunities fund into its Japan Absolute Return fund; the three GLG Partners executives restored their salaries to their former levels, after agreeing to a one-year cut; four directors at Paulson Europe bagged £50.8m after successfully betting on the ailing UK banking sector; Swiss private bank Pictet mandated Jabre Capital Partners; Moore Capital hired Jean-Philippe Blochet, a founding partner of Brevan Howard, as a senior portfolio manager; the daughter of the founder of French hedge fund Carmignac Gestion returned to the firm; EIM created a platform for separate managed accou......................

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