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Opalesque Roundup: Hedge fund assets grew $8.8bn in first half of 2016: hedge fund news, week 34

In the week ending 26 August, 2016, Eurekahedge reported that hedge fund assets grew by $8.8bn during the first half of 2016, however eVestment data showed that hedge funds saw their biggest redemptions since 2009 as investors pulled $25.2bn in July. Folger Hill Asset lost a third of its assets from its 2015 peak through redemptions and losses; FS Investments said that its business development company direct lending platform committed over $830m to middle market companies; Context Macro Opportunities Fund passed $100m in assets under management on its one year anniversary; and Glencore recorded a $395m loss by hedging future production of the fuel before prices rallied.

Sihan Chu has left Paulson & Co., in June to launch his own hedge fund; David Fiszel has bucked the global trend and launched Honeycomb Asset Management; Andrew Manuel is preparing to start his own global macro hedge fund with two partners later this year; Lucas Kiely and Charles Firth are leaving Credit Suisse to start a macro hedge fund; Pennsylvania-based Context Asset is expanding its roster is expanding its roster of liquid alternatives and plans to launch three new products; Schroders has launched an externally-managed UCITS fund, called the Schroder GAIA Two Sigma Diversified fund; Scout Global Funds announced plans to launch a multi-strategy hedge fund; and BlackRock has announced the launch of the actively managed fund BlackRock Impact Bond Fund.

The Lyxor Hedge Fund Index was up a healthy 0.7% in mid-August (-2.0% YTD);
And the Barclay CTA Index gained 0.37% in July on the global equity rally (+2.12% YTD).

Ben Snider said that the strong performance of hedge funds in Q3 was due to buying the most popular stocks; Goldman Sachs said hedge funds are reporting positive returns by taking on more risk

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