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Benedicte Gravrand, Opalesque London: Last week we saw new launches from Ermitage, Aegon, Unigestion, Harcourt, Kratter Capital, Bay Hill, ING, Connective Capital and Quay Financials. It was also found that new hedge fund launches total recorded $19.5bln witch was more in terms of assets despite the number of launches dropping 50% year-on-year. Man Group assets notably jumped to $79.5bln. Rock Capital and United Capital closed their funds.
Hedge funds reported their worst first-half performance in two decades last week: for the month of June, the HFRX Global Hedge Fund Index went down -0.83%, the HFRI Fund Weighted Composite Index returned -0.68%, four of the six hedge fund strategies covered by Dow Jones Hedge Fund Indexes posted losses, the Greenwich Global Hedge Fund Indices reported that hedge funds only lost a fraction (-0.42%), , the Eurekahedge indices showed flat to negative month (0.2% avg), the Hennessee Hedge Fund Index declined -0.64%. The Parker FX Index announced an improved return of +0.08% for May.
The managers who were in the limelight were Hohn as he encountered queries over his charity’s donations policy, John Templeton who died age 95, Devaney whose Horizon funds had to be liquidated.
Trends were noted in hedge fund going on a hiring binge and more smaller funds being bought out.
In the M&A space, GSAM bought a stake in Longacre hedge fund, Interna...................... To view our full article Click here
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