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New Managers September 2017



HFR: 180 fund launches in 2Q17

Hedge fund launches were steady in 2Q17, with 180 new funds opening as inflows resumed and total industry capital reached a record. The number of 2Q17 launches was slightly below the 189 launches in 1Q17 and the 170 launches in 2Q16, according to the latest HFR Market Microstructure Report, released by Hedge Fund Research.

Hedge fund liquidations declined in 2Q 2017 as new investor inflows increased total hedge fund industry capital to a record $3.1 trillion through mid-year. The number of liquidations fell to 222 in 2Q17, representing a decline from the prior quarter total of 259, as well as a narrow year-over-year decline from the 239 liquidations in 2Q16.

"Hedge fund liquidations declined as total industry capital eclipsed another record with new investor inflows, while the HFRI extended steady performance gains through mid-2017," stated Kenneth J. Heinz, President of HFR. "We expect a continuation of the favorable trend in new launches, as well as expansion of the alternative investor base interest to also encompass Risk Parity & Risk Premia strategies. With equity markets continuing the pattern toward increasing record levels, investors continue to exhibit and demonstrate enthusiasm for hedge funds and alternative beta strategies as integral portfolio components." More here.

  • Izzy Englander's Millennium Management is backing a new hedge-fund startup run by portfolio manager Javier Velazquez, according to Bloomberg. The fund will be London-based and follow a long-short equity strategy.
  • A longtime portfolio manager at Izzy Englander's $35bn hedge fund Millennium is setting off on her own. Sara Nainzadeh is in the early stages of pr......................

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