In the week ending 24 February, 2017, former Citadel money manager Brandon Haley is gearing up for the biggest hedge fund launch so far this year with $1bn in capital. Philippe Laffont, Louis Bacon, and Steve Cohen, are planning to invest in Ben Melkman's Light Sky Macro; Willis Towers Watson is setting up a new hedge funds 'supermarket' that offers investment at low cost; Rick Doucette and Gerry Polizzi are planning a $300m multi-strategy hedge fund; an Australian-based litigation funding company is opening an office in Houston; KTB Asset Management is raising private equity funds of hedge funds incorporating 10 global hedge funds; two former military officers launch an artificial intelligence-based hedge fund as traditional strategies may grow obsolete; Alan Howard is creating a new hedge fund that will be overseen solely by him; and BlueMountain Capital is raising money for a fund that will invest in credit for three to five years and target lower returns than its flagship hedge fund.
Tages Capital partnered with Cygnus Asset to launch of the Tages Cygnus Europa Event Driven UCITS Fund; and Exane Asset Management is targeting long/short opportunities through a dedicated Alternative UCITS fund.
LOGiQ Asset said it would shut down its Macquarie Emerging Markets Infrastructure Income Fund.
The Lyxor Hedge Fund Index was up 1% as of February 14;
The Eurekahedge Fund Index gained 0.87% in January;
and the Greenwich Global Hedge Fund Index was up +1.08%.
Latin America (+7.04%), high yield (5.63%), and Asia-Pacific (+5.06%) strategies dominated hedge fund performance in January; Lansdowne Partners' main fund slid again in January after shares in crisis-hit BT Group plunged; hedge funds holding long positions in Kraft Heinz Co made a 5% return last week; Bill Ackman's Pershing Square is back in the black and is up 4.8% YTD; and Sententia Capital is off to a good start with and ended 2016 up 24.9%.
Emerging-market hedge-fund assets reached a record $200.7bn as of the end of December 2016; the SS&C GlobeOp Forward Redemption Indicator for February 2017 measured 3.25%, up from 2.60% in January; Barclays said hedge funds will see net inflows of $10bn in 2017; Preqin said that the hedge fund industry may witness further investor redemptions in 2017; and hedge funds account for 2.9% of assets at Ilmarinen.
Among investments, the S&P Global Market Intelligence said that the top hedge funds dropped their holdings of energy, consumer discretionary and healthcare; AQR and Odey Asset have quit shoring Aberdeen Asset and have removed their positions; hedge funds are looking at U.S
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