Wed, Aug 20, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

GLG Partners reports net inflows of $1.5bn for Q2 and $2.5bn for H1

Tuesday, July 20, 2010
Opalesque Industry Update - GLG Partners, Inc. today reported estimated net assets under management (AUM) of approximately $23.0 billion as of June 30, 2010.

Highlights

  • Net inflows of approximately $1.5 billion for the second quarter of 2010 and $2.5 billion for the first half of 2010
  • First half 2010 dollar-weighted average returns of approximately 3.8% for the alternative strategies, 2.1% for the 130/30 strategies and (4.4%) for the long only strategies, versus MSCI World Index return of (7.1%) and S&P 500 Index return of (6.9%) for the same period

"We saw robust net AUM inflows and continued to deliver strong performance for our investing clients across the GLG platform despite turbulent market conditions in the second quarter," said Noam Gottesman, Chairman and Co-CEO of GLG.

Assets Under Management (Estimated)
(US$ in millions)

Six Months Ended Three Months Ended
June 30, 2010 June 30, 2010
Opening Net AUM (Actual) $ 22,175 $ 23,668
Inflows (net of redemptions) 2,491 1,537
Performance (gains net of losses and fees) (232 ) (1,524 )
Currency translation impact (non-US$ AUM expressed in US$) (1,477 ) (725 )
Closing Net AUM $ 22,956 $ 22,956

Note: Totals may not add up due to rounding.

As of

June 30, 2010

March 31, 2010
(Actual)

Alternative strategies1 $ 12,088 $ 12,504
Long only strategies2 12,820 13,340
Gross AUM $ 24,908 $ 25,844
Less: alternative strategy investments in GLG Funds $ (956 ) $ (1,078 )
Less: long only strategy investments in GLG Funds (996 ) (1,098 )
Net AUM $ 22,956 $ 23,668
Quarterly average net AUM3 $ 23,312 $ 22,921

Note: Totals may not add up due to rounding. Managed accounts amounted to approximately $11.6 billion in net AUM at June 30, 2010 and $11.9 billion in net AUM at March 31, 2010.

Investment Performance (Estimated)

Q2 20104

YTD through
June 30, 20104

GLG dollar-weighted average returns:
Alternative strategies (1.4 %) 3.8 %
130/30 strategies (3.9 %) 2.1 %
Long only strategies (9.9 %) (4.4 %)
MSCI World Index (11.2 %) (7.1 %)
S&P 500 Index (11.6 %) (6.9 %)

1 Alternative strategy gross AUM includes all alternative strategy funds, all 130/30 strategy funds, all managed accounts managed in accordance with alternative and 130/30 strategies, and cash and other holdings.

2 Long only strategy gross AUM includes all long only funds and managed accounts managed in accordance with a long only strategy.

3 Quarterly average net AUM for a given period is calculated as a two-point (quarter open and close) average.

4 Performance is typically measured by the longest running share class in each fund. Dollar-weighted average returns are calculated based on the estimates as of the date hereof and may change upon completion of quarter-end valuation procedures. Any changes could be material. See the Appendix for a description of how dollar-weighted average returns are calculated.

Corporate website: Source

- FG

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing – Hedge funds feasting on Apple again, Top U.S. hedge funds up Walgreen shares; lose some taste for Apple, A look at how some of the top investors, hedge funds spent the second quarter, Blockbuster movies fuel big wins for hedge fund investors, Top hedge funds flock into Allergan amid bid backed by Ackman, Soros Fund Management exits stake in some tech companies, Jana buys FMC stake, adds to AIG, exits Sirius in quarter[more]

    Hedge funds feasting on Apple again From Forbes.com: Robert Citrone and Phillippe Laffont are two of the most prominent Tiger Cubs, hedge fund managers who once worked for legendary money man Julian Robertson’s Tiger Management. Both of them had a rough start to 2014 and sold the bulk of

  2. Legal – Pershing Square sues U.S. over Fannie Mae and Freddie Mac, Elan investors sue SAC over insider-trading losses, Lawsuit loss by hedge fund is just a cost of doing business[more]

    Pershing Square sues U.S. over Fannie Mae and Freddie Mac From WSJ.com: William Ackman's Pershing Square Capital Management LP, which has taken sizable stakes in the common shares of Fannie Mae and Freddie Mac, filed a lawsuit Thursday against the U.S. government challenging its bailout

  3. Private equity follows hedge funds into reinsurance for long-term capital[more]

    From Artemis.bm: It’s not just hedge funds that are entering the insurance and reinsurance market in search of so-called long-term capital to put to work in their strategies, private equity firms targeting the space are also seeking opportunities to add assets under management. The entry of large pr

  4. North America – New York City’s next hot neighborhoods targeted with property funds[more]

    From Bloomberg.com: New York’s real estate world is filled with tales of ordinary people who bought property decades ago and saw values skyrocket to the millions. Seth Weissman is seeking investors to get in early on the next hot neighborhoods. The veteran of Goldman Sachs Group Inc. and hedge

  5. Investing – George Soros bets $2bn on stock market collapse, Warren Buffett's Berkshire reveals Charter stake, cuts DirecTV, Hedge funds lusting to cash out of MGM, Top hedge fund managers are buying Ally Financial, Hedge funds dumped 5m Herbalife shares in Q2, Paulson & Co hedge fund ups Puerto Rico real estate bet, Netflix Inc., Citigroup Inc, Google Inc are top new picks in Tiger Management’s 13F[more]

    George Soros bets $2bn on stock market collapse From Newsmax.com: Billionaire investor George Soros has increased his financial bet that U.S. stocks will collapse to more than $2 billion. The legendary hedge fund manager has been raising his negative bet on the Standard & Poor's 500 Inde