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Alternative Market Briefing Weekly

Review of hedge fund launches, closures, trends, regulatory and legal events - week 16

Saturday, April 24, 2010

Benedicte Gravrand, Opalesque London:

Last week, we heard of fund launches from (new London-based FoHFs) Hilltop (All Weather); GAM (Ucits emerging markets); Strategic Investing (L/S mutual); Farema Capital (L/S); Artemis (FoHFs); Cheung Capital (gaming); Thesis (absolute return mutual); OM IM (global); Plural Capital (3 x offshore); Geribá Investments (maiden); Schroer Capital (healthcare); and Salus Alpha (special sits).

All EDHEC hedge fund Indicesexcept for Short Selling were positive in March, Emerging Markets (+4.48%) being the top performer; and the Scotia Capital Canadian hedge fund index was up 1.78%.

HFR said that the top hedge fund firms are assuming leadership in the industry recovery and that total AuM now stand at $1.67tn; Eurekahedge reported that hedge funds attracted net inflows of $2.83bn in March (its global hedge fund index is up 2.48% (est.), 2.14% YTD); and Credit Suisse found that the hedge fund industry had recovered 92% of financial crisis losses, as cautious optimism takes hold. Gottex’s assets slipped to $7.9bn in Q1 on asset-based wind-down and BlueBay’s assets rose 7.9%.

Hedge fund manager Gerard Griffin wound down his once $2.75bn fund; he and his partner Gerald Lucaussy joined GLG Partners, who said they will bolster its in-house expertise ahead of an expected surge in merger activity; Cairn Capital took over the management of Credaris’ Eur17m L/S fund; it was said that hedge fund clones had done relatively well during the crisis; Moore Capital is searching for longer-term investors after $5bn redemptions during the crisi......................

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