Benedicte Gravrand, Opalesque London:
Last week, we heard of fund launches from Matrix (Ucits III version of Lazard AM's convertible arbitrage HF); Liontrust (credit); Tennenbaum Capital (distressed debt); and UBP (fund of managed accounts).
Morningstar said its 1000 Hedge Fund Index was up 0.3% (est.) in February and January outflows amounted to more than $2bn; Hedgebay Trading Corporation’s February index revealed a first trade above NAV on the hedge fund secondary market in almost 2 years.
BlackRock is launching a reverse tender for investors in its £111m Absolute Return Strategies fund of hedge funds, which will reduce the company's share capital by 7.5%, said FTAdviser; RAB Capital posted a net loss of $4.7m for 2009; Man Group is currently......................
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