In the week ending 02 December, 2016, in other miscellaneous hedge fund news, Mike Coleman said at the recent Opalesque Singapore Roundtable that from a market’s perspective, the global economy has possibly reached the high point of globalization and open markets; Rajesh Sundaresan said that robo-advisory could provide more cost effective solution than buying funds or even an ETF; Theta Capital Management has added the Discovery Capital Global Opportunity Fund to its flagship Legends Fund; new data showed that even secretive hedge funds could open source their software; and Putnam Investments is pushing into Europe, Middle East and Africa to serve institutional clients and investors in the region.
Amar Anand is preparing to leave the Hong Kong-based money manager to launch his own global Asia-focused hedge fund; OMGI has announced its intentions to launch the Old Mutual Style Premia Absolute Return Fund at the beginning of December; Maxime Kahn is preparing to start his own hedge fund to bet on rising and falling share prices; Alphadyne Asset Management will separate its Asia team into a new firm; and GAMMA Capital Management in London has launched two Irish domiciled funds focusing on investments into Iceland.
Lotus Peak Capital is shutting down a Japan-focused fund as investors have soured on Abenomics; BH Macro has proposed measures that could see to wind up its portfolio after several years of disappointing performance; Glade Brook Capital is shutting its original hedge fund in favor of a new series of vehicles focused on big bets in public securities; and Tyrian Investments is closing down because of mounting redemption pressures.
The Barclay Hedge Fund Index was down 0.32% in October (+4.03% YTD);
The Barclay CTA Index was down 1.24% (+1.30% YTD);
The Lyxor Hedge Fund Index has moved up 0.7% as of end Nov. 22 (-1.6% YTD);
And the MVIS North America Long/Short Equity Index was up 0.52% in November (+1.48% YTD).
Hedge funds reported mixed performances in November after Donald Trump's surprise U.S
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