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By Benedicte Gravrand, Opalesque London: A roundup of last week’s hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining to the alternative investments world.

Last week, we heard of fund launches from UBS (infrastructure FoHFs); Tontine; and Henderson (European Special Sits).

U.S. fund house Pequot Capital, facing a second insider dealing inquiry, will liquidate it hedge funds and its team will spin off.

It was reported that John Paulson had made losses on all but one of his hedge funds in April; that Stenham had reopened its trading strategy and launched currency shares classes; that AQR’s Cliff Asness had been forced to regroup after 2008, and had predicted that hedge fund feed would drop; that Brazil hedge funds were suffering from a client exodus and 20 hedge fund managers might be forced to close; that the Swiss FoHFs industry had come to a standstill; and that Fitch had downgraded Lombard Odier’s FoHFs to ‘FoHF M3.’

HFR released data saying that hedge funds investing in emerging markets had posted strong gains to the end the first quarter and had extended those gains into the second quarter; a PerTrac study on the impact of hedge fund age and size on performance showed that younger and larger funds had reported better returns for 2008; and Alpha Ma......................

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