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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 14

Saturday, April 10, 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 Ignis AM (absolute return); Illume Capital (multi-strat); HSBC (emerging markets UCITS fund); BlueMountain Capital (3 credit funds); Ironsides (event driven); Dreyfus (mutual fund with HF strats); ESAF and BAF (fund of UCITS III alpha funds); and Sirohi Capital (L/S equity).

The Australian Fund Monitors’ hedge fund Index was up 0.11% in February, 16.74% in last the 12 months; Dow Jones Hedge Fund index returned positive numbers in March and YTD; Credit Suisse Liquid Alternative Beta Index's performance (1.02% in March, 1.83% YTD) suggested that hedge funds would finish Q1-10 in positive territory; UCITS Alternative Global Index was up 1.64% (1.35% YTD); HFRI Fund Weighted Composite Index +2.7% (est.) (+2.56% YTD), the highest gains since September; HFRX Global Hedge Fund Index returned 0.67% (est.), 2.31% YTD; Hennessee Hedge Fund Index advanced +3.05% (+3.50% YTD), underperformed rallying equity markets; Peregrine Prime South Africa hedge funds added 2.55% before fees; Newedge’s AlternativeEdge STTI was down 0.34% (-0.72% YTD), and the CTA Index up 2.51% (2.01% YTD).

Credit Suisse's annual hedge fund survey found that assets could hit $2tn by year-end and that investors intend to increase their allocations by an asset-weighted average of 9% this year; aggregate assets managed by the 25 largest FohFs managers dropped more than one-third (37% to $319bn) in the 18 months ended Dec. 31, according to survey by Pensions & Investments; Charlemagne’s assets rose by 3% YTD and Roc Capital raised $1bn for a quant hedge fund launched last summer.

According to Absolute Return, the hedge fund ind......................

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