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Opalesque Roundup: Despite falling hedge fund assets, industry sees high quality launches: hedge fund news, week 16

In the week ending 22 April, 2016, the HFR Global Hedge Fund Industry Report showed that hedge funds assets declined $15.1bn in Q1, marking not only the largest quarterly outflow since 2Q09, but also the first consecutive quarters of outflows since 2009; Eurekahedge reported that hedge funds assets declined by $6.4bn in the first quarter; the SS&C GlobeOp Forward Redemption Indicator for April 2016 measured 2.94%, down from 4.26% in March; Paulson & Co, dropped by nearly $2bn in five months because of its positions in Allergan and Valeant. On the positive side, Deepak Gulati’s Argentiere Capital is turning away investors after amassing $2.4bn, and also the Horseman Global Fund told clients enough is enough at $2bn of assets.

Meanwhile Yunhee Yoo is launching her own credit hedge fund, the Cascade Ridge Capital with $150m in assets; Chamath Palihapitiya is quietly launching a hedge fund called the called Social Capital PEP Management; Omni Partners announced the successful launch and first close of its third secured lending fund, Omni Secured Lending Fund III LP; and Markus Thielen is launching a global macro hedge fund on May 2.

Edmond de Rothschild Asset has launched Edmond de Rothschild Fund UK Synergy; Perella Weinberg Partners is to launch its North America Equity Long/Short fund in a UCITS format later this quarter; and Taiwanese fund house Yuanta is planning to enter the alternative space through CTAs.

The Lyxor Hedge Fund Index fell -0.2% as of end April 12 (-2.7% YTD);
The Greenwich Global Hedge Fund Index was up +1.88% in March (-0.72% YTD);
The Barclay Hedge Fund Index gained 2.53%; best monthly return since January 2012;
And the Barclay CTA Index fell 1.47% but is still up 1.36% in the first quarter of this year.

Eurekahedge said that the percentage of hedge fund launches domiciled in the Cayman Islands has declined slightly in recent years.

Blackstone’s profits plunge 77% as performance fees are taking a dive

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