Performance: PharmaInvest Fund up 43.4% in 2007, Old Hill hit with redemptions, Chinese hedge funds under pressure due to recent sell-off, Eddington Triple Alpha Fund outperformed peer group in 2007: 17.21% (est.), Hedge funds still gratify: AIG`s Discolo reports the selected HFs met performance goals in 2007, LJM reaps returns on both sides of options markets
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Opalesque Exclusive: PharmaInvest Fund up 43.4% in 2007
Bahamas based GEM Global Equities Management S.A. reported its PharmaInvest Fund was up 1.14% in December and achieved a net performance of 43.4% in 2007, according to an investor communication obtained by Opalesque. The PharmaInvest Fund invests primarily in
pharmaceutical companies in Turkey, the CIS (Commonwealth of Independent States - most of the countries that
were part of the former Soviet Union) and the Central & Eastern Europe and Baltic countries, has returned 97.3% since inception in October 2006. From June to August 2007, the fund was down but was able to recoup all losses during the year. Corporate website: Source
Old Hill hit with redemptions
From iialternatives.com: Darien, Conn.-based fixed-income hedge fund firm Old Hill Partners has been hit with redemptions in all five of its strategies. Chief Investment Officer Mark Samuel declined to quantify the redemptions, nor would he comment on performance or effect of the credit crunch.
The firm has not reported performance numbers since May, at which point all funds were in the red for the year, according to Pertrac, a hedge fund database. At its peak, the firm had $800 million in assets under management. Its strategies are invested in structured credit, defaulted asset-backed bonds, corporate bonds, corporate CDOs and other collateralized fixed-income assets. Full article: ...................... To view our full article Click here
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