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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 4

Saturday, January 30, 2010

Benedicte Gravrand, Opalesque London: A roundup of 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 fund launches from China Everbright Bank (FoHFs); Taurus Funds (resources); HSBC AI (£ class of Ucits FoHFs); GLG (Ucits version of flagship); Armajaro (commodities); Salida (wealth preservation); FundQuest (fund of Ucits HFs); Infinity Capital; Vanguard (absolute return); JO Hambro (UK); and Saltus (absolute return).

The Morningstar 1000 Hedge Fund Index was up 19.5% in 2009, which was its best year since 2003, and funds enjoyed $4.7bn of inflows in Nov-09; Australia’s AFM said hedge funds finished December up 1.1% and 17.4% YTD.

Hedge funds BlueCrest, Brevan Howard, Gartmore, Jabre and Lansdowne were the top EuroHedge Awards winners; Tony Blair was hired as a paid speaker for London-based Lansdowne Partners; Geneva’s Jabre said he would hard-close his flagship fund to new money when it reaches $2.5bn; Dutch hedge fund Greenbay said it might close down its European L/S fund if no capital comes in soon; it was said that, coming off an ‘outlier year,’ distressed debt managers were cautious about 2010; US research firm Hedgeye Risk started enabling investments in a “virtual” hedge fund; and banks such as Morgan Stanle......................

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