Mon, Jan 26, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers June 2013

Launches & New Funds' News

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 by Hedge Fund Research (HFR). Hedge fund launches in 1Q13 totalled 297 funds, the third highest quarterly launch total since the beginning of 2008, narrowly trailing only 1Q12 (304) and 1Q11 (298). Hedge fund liquidations declined to 196 in 1Q13 from 211 and 238 in each of the prior two quarters, respectively. Equity Hedge strategies led 1Q hedge fund launches with 132 new funds. Macro hedge fund launches totalled 93, while Relative Value Arbitrage RVA saw just 26 new funds.

Hedge fund launches in Europe exceeded those of the U.S. in 1Q13, with 180 new funds launched by European-located managers in 1Q versus nearly 100 by US-based firms.

Average management fees for funds launched in 1Q13 was 32 bps lower than those funds launched in 2012, while average incentive fees for 1Q13 launches were 17.43%, a decline of 31 bps from 2012 launches.

"The strong trend in new launches is consistent with the trends in rising investor risk tolerance and overall hedge fund industry capital reaching record levels," said Kenneth J. Heinz, President of HFR.

We recently heard of those ex-hedge funders striking out on their own:

  • Miaodan Wu, a former portfolio manager at SAC Capital Advisors, is preparing to launch his own hedge fund in Hong Kong to bet on price swings in financial securities. Wu was among at least seven SAC Capital Hong Kong staff who left this year. His hedge fund, named Bach Option, will launch by the end of 2013, said Reuters.
  • ......................

    To view our full article please login

    This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
    New Managers
    New Managers
    New Managers

    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. Commodities - Druckenmiller alums at PointState make $1 billion on oil, Andurand Capital sees oil sliding to $40[more]

      Druckenmiller alums at PointState make $1 billion on oil From Bloomberg.com: Hedge fund manager Zach Schreiber stood on stage at Avery Fisher Hall in New York eight months ago and made a bold prediction. “We believe crude oil is going lower -- much lower,” Schreiber, 42, told the audienc

    2. Investing - David Einhorn discloses a new position in Time Warner, Canyon trimming bets on mortgage bonds after making $7bn[more]

      David Einhorn discloses a new position in Time Warner From FTLeavenworthlamp.com: …Einhorn also disclosed a new position in Time Warner. "Since 2009, TWX has refocused its business into a collection of high quality assets including basic cable networks (Turner and CNN), a movie studio (

    3. Top performing private equity firms you should invest in[more]

      Komfie Manalo, Opalesque Asia: Professor Oliver Gottschalg of Paris-based HEC Business School, also known as Ecole des Hautes Etudes Commerciales de Paris has released his annual ranking of the top performing private equity firms. The 2014 HEC-DowJones Private Equity Performance Ranking

    4. Comment - Why invest in hedge funds if they don't outperform the market?[more]

      From Forbes.com: Hedge funds have always been a bit exotic and an enigma to some, but bottom line they are supposed to produce good returns using a range of strategies including global macro, event driven and relative value (arbitrage). And, sophisticated or high-net-worth individuals (HNWIs) could

    5. Owen Li 'truly sorry' for blowing up $100m of hedge fund’s assets[more]

      From CNBC.com: A hedge fund manager told clients he is "truly sorry" for losing virtually all their money. Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. "I take r