Today's Exclusives

• Opalesque Exclusive: Navigator Absolute Return Fund up 3.29% YTD, changes name to BAF Latam Trade Finance Fund [more]

  From Precy Dumlao, Opalesque Asia: The Navigator Absolute Return Fund is maintaining its winning streak with consistent positive returns since inception in March ’08 after posting 0.67% in May (+3.29% YTD). The fund

• Opalesque Exclusive: Hedge fund launches rose in 1Q13 from the previous quarter to 297: hedge fund news, week 24 [more]

  Hedge fund launches rose in 1Q13 from the previous quarter, and totalled 297 funds, the third highest quarterly launch total since the beginning of 2008, reported HFR

• Hedge fund manager James Shepherd pleads guilty to commodity pool fraud [more]

  From Precy Dumlao, Opalesque Asia – North Carolina hedge fund manager James Alexander Shepherd pleaded guilty to defrauding investors of at least $6m after admitting to using a personal post office box and bogus bank statements to hide his criminal activities for nearly seven years, prosecutors said

Today's Other Voices

• Other Voices: FCA’s PS13/3: Retail investors unwelcome in Unregulated Collective Investment Schemes [more]

  This piece was contributed by Oliver Lodge of UK based Owl Regulatory Consulting. Whatever our hazy recollections of the good old days, there never was a time when regulators were relaxed about the promotion of unregulated collective inve

More Exclusives

• 17. Jun. | Barclay Hedge Fund Index up 1.06% in May; (+5.87% YTD) most hedge fund strategies have gains in 2013 [more]

  Opalesque Industry Update: Hedge funds gained 1.06% in May, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 5.87% year to date. “While improving consumer

• 17. Jun. | Dow Jones Credit Suisse Hedge Fund Index finished up 0.42% in May (5.43% YTD) [more]

  Opalesque Industry Update – The Dow Jones Credit Suisse Hedge Fund Index (the “Broad Index”) finished up 0.42% for the month of May. Performance for the Broad Index and its 10 sub-strategies is

• 17. Jun. | LGT Capital awarded GBP100m multi-alternatives mandate from Kingfisher Pension Scheme [more]

  Opalesque Industry Update - LGT Capital Partners has been awarded a GBP 100 million multi-alternatives mandate from Kingfisher Pension Scheme. The mandate is focused exclusively on alternative investm

• 17. Jun. | Newedge CTA Index down -1.71% in May (2.58% YTD) [more]

  Opalesque Industry Update – The Newedge Trend Index fell 3.65% in May 2013 (3.74% YTD), relinquishing some of the gains from March and April. The Newedge Short-Term Trading Index finished slightly po

• 17. Jun. | RBC Hedge 250 Index up 0.60% in May, 4.85% YTD [more]

  Opalesque Industry Update — RBC Capital Markets today reported that for the month of May 2013 the RBC Hedge 250 Index® had a net return of 0.60 percent. This brings the year-to-date return of the Inde

• 17. Jun. | Lyxor launches M&A fund on its alternative UCITS platform [more]

  Opalesque Industry Update - Lyxor Asset Management (“Lyxor”) has announced the launch of the Lyxor / Tiedemann Arbitrage Strategy Fund (the “Fund”), a

• 14. Jun. | TrimTabs and BarclayHedge: Hedge funds receive meager $430m, underperforms S&P 500 by 126 basis points in April [more]

  Opalesque Industry Update — BarclayHedge and TrimTabs Investment Research reported today that hedge funds took in a net $430 million (0.02% of assets) in April 2013, building on an inflow of $817 mill

• 14. Jun. | SS&C GlobeOp Hedge Fund Performance Index up +0.77% in May; Capital Movement Index June net flows advance 1.17% [more]

  Opalesque Industry Update: The gross return of the SS&C GlobeOp Hedge Fund Performance Index for May 2013 measured 0.77%. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index ad

• 14. Jun. | Hedge fund launches rise as investor risk tolerance returns [more]

  Opalesque Industry Update: The number of new hedge fund launches increased for the fourth consecutive quarter in 1Q13, according to the latest HFR Market Microstructure Industry Report, released today

• 14. Jun. | Opalesque Exclusive: Dexion's Robin Bowie declares the hedge fund of funds' landscape has changed for the best [more]

  by Beverly Chandler, Opalesque London: Robin Bowie, founder of Dexion Capital, a boutique investment bank focused on alternatives, is in defensive mode over the firm’s listed fund of funds (fofs) business, a sector he and his team pioneered in 2

• 13. Jun. | SS&C GlobeOp Hedge Fund Performance Index returns 0.77% in May, a gross year to date return of 7.14% [more]

  Opalesque Industry Update: The SS&C GlobeOp Hedge Fund Performance Index for May reported a return of 0.77%, a gross year

• 13. Jun. | Opalesque TV: Abenomics may be more fragile than investors expect [more]

  Bailey McCann, Opalesque New York In the new world of Abenomics, some of the oldest Japanese hedge funds are enjoying growth that they haven’t seen in a number of years. Shinichiro Shiraki Chief Investment Officer of Astmax and also the Chairman of AIMA-Japan, has been operating in this space fo

• 12. Jun. | Alain Dubois to join MSCI from Lyxor Asset Management [more]

  Opalesque Industry Update: MSCI Inc., a leading provider of investment decision support tools worldwide, announced today that Alain Dubois, currently Chairman of Lyxor Asset Management, is to join th

• 12. Jun. | Horizon Cash Management introduces emerging manager fund cash account [more]

  Opalesque Industry Update - Horizon Cash Management LLC, an investment advisor specializing in active cash management solutions for the alternativ

More Other Voices

• 24. May. 2013 | Other Voices: What the doctor ordered [more]

  By: Andre Boreas, Director-Alternative Investments, Intralinks I had the opportunity to attend a real estate conference a few weeks ago where the topic of transparency was a hot button issue. More information, quicker turnaround times and deeper due diligence was the mantra among the general par

• 17. May. 2013 | Other Voices: Three 'game changers’ have limited contagion in European markets [more]

  This piece was authored by Melanie Rijkenberg, CFA, Associate Director, Pacific Alternative Asset Management Company Europe LLP. Since the start of the year we have seen a clear de-correlation in global markets and most n

• 17. May. 2013 | Other Voices: Great rotation? What great rotation? [more]

  In the article below, Alex McKnight, investment manager at GAM, an independent, active investment management firm, comments on why convertibles are catching investors’ eyes. We believe the "great rotation" is ov

• 02. May. 2013 | Other Voices: The changing role of hedge funds in pension plan portfolios [more]

  This article was authored by Shahid Ikram, CIO at Aviva Investors, a global asset manager that is part of Aviva, one of the world’s largest insurance companies, and appeared first in Swiss daily newspaper Le Temps on Monday. Mo

• 02. May. 2013 | Other Voices: How the JOBS ACT will benefit hedge fund investors [more]

  This article was authored by Donald A. Steinbrugge, Managing Member of Agecroft Partners LLC, a third-party marketer based in Richmond, VA, U.S. It has been recently covered in the media that Mary Jo White, who became SEC chair

• 16. Apr. 2013 | Other Voices: A primer on AIFMD for U.S. advisers [more]

  This article was authored by Deborah Prutzman, Founder and CEO of New York based-RFG, which provides, among other things, regulatory and risk guidance. AIFMD—As a U.S. adviser, are you within its scope and can you avoid its reach?

• 05. Apr. 2013 | Other Voices: Ikos's Elena Ambrosiadou asks: "Has anyone learnt anything from the recent Cyprus maelstrom, and will it make a difference?" [more]

  This piece was provided by Elena Ambrosiadou, chief executive officer of Ikos Asset Management. Cyprus is in the middle of a financial maelstrom - where did it come from and what needs to be done about it now? Cyprus is the third

• 27. Mar. 2013 | Other Voices: Chasing shadows: should hedge funds shadow administrators? [more]

  This article was provided by Bijesh Amin, Co-Founder/Managing Director at Indus Valley Partners. To shadow or not to shadow At least that is the question facing many large hedge funds with assets well above the magical $1bn mark. The production of a portfolio NAV (Net Asset Value) is

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A SQUARE 31 May 2013

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CME - S&P 500 INDEX (CASH) Daily

Near Term Trend: Positive to Neutral
Friday’s Close: 1643.38 (+ 20.80)
UPDATE: As are readers are well aware, we initiated a short position prior to last week, based on the daily close below 1646.00, on Friday, May 31.
We also stated, prior to the start of last week’s trading, “a retrace to the trend line at 1600.00- 1597.00 was a possibility”.
Our stop (1644.00 stop close only), as mentioned previously, was wider than we would have liked due to the close of 1630.00 (16 points below our pivot in the last few hours of trading on May 31).
As it turned out- the market did in fact collapse, and traded down to 1598.30, held at our trend line and then proceeded to bounce back toward our stop.
We remain short.