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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 2

Sunday, January 17, 2010

Benedicte Gravrand, Opalesque London: A roundup the week’s hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments industry.

Last week, we heard of launches from Dalton (European L/S Ucits); Northern Pines; Athena Alpha; SAIL (distressed); Allianz (2 x absolute return); Silver Spring (China equity L/S); Wealth Bay (Japan); Tiresias (Asia event-driven); van Eyk Blueprint (2 x multi-manager); Galle (global macro); 3 Degrees (credit opps); OLA Capital (new firm); and Farringdon (special sits).

The HFRI Fund Weighted Composite Index posted 1.25% (est.) in December, bringing YTD results to 20.04% - its best performance in decade; The Hennessee Hedge Fund Index advanced 2.27%, 24.8% in 2009; The HFN Aggregate Index was up 1.33% and 19.43%; The RBC Hedge 250 Index returned 0.78% and 19.3%; The Greenwich Global Hedge Fund Index was up 1% and 19.4%; The Bloomberg Aggregate Hedge Fund Index gained 13.7% for the year; The Credit Suisse/Tremont Hedge Fund Index was up 0.88% and 18.57% - also its best annual return in a decade; The Barclay Hedge Fund Index gained 24.14% for the year, and reported that 55% of hedge funds had recovered from their 2008 losses; The Eurekahedge Hedge Fund Index returned 19.16% for the year, saying that strong performance resulted in December net inflows and positioned hedge funds for Q1-2010 allocations.

TrimTabs and BarclayHedge found that hedge fund inflows had hit an 18-month high of $18.7bn in November and that launches had fallen to record low of 1.8% of hedge funds’ assets in 2009; according to HedgeFund.net, investor allocations to hedge funds reversed in December for the first ......................

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