Fri, Jul 29, 2016
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. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

      Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

    2. Manny Roman to move from Man to Pimco[more]

      Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

    3. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

      European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

    4. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

      Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New

    5. SWFs - Abu Dhabi wealth fund says long-term investment gains fell[more]

      From Bloomberg.com: The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said its long-term gains dropped in 2015. The fund’s 20-year annual rate of return slowed to 6.5 percent at the end of 2015, from 7.4 percent a year earlier, it said in its annual review. Over