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From Kirsten Bischoff, Opalesque New York:
The hedge fund industry has been in a state of flux for the past 18 months, but with strong performance, and an increase in product launches, there is, at times, a sense that we have passed the inflection point. Hedge fund launches gained momentum in the second quarter rising to 182, up from 148 during the first quarter of the year. With investment professionals spinning out of large firms are launching a number of these funds, a new population of managers, experienced with investing but new to the hedge fund space will likely play a significant role in determining the evolutionary path for the industry.
Kevin Divney former CIO and Managing Director at Putnam Investments formed his Boston-based firm, Beaconcrest Capital this year and launched a long/short fund on October 15th. The discretionary systematic fund will invest in US equities, across all industries and Divney will seek to maintain a balanced portfolio of longs and shorts. The strategy will look to exploit one thing that he says can be counted on in bull or bear markets: competition. "What can you depend on? There are winners and losers in every industry."
Launching a hedge fund as the US government begins to outline the regulations for the hedge fund industry is not at all a concern for Divney, who cites his mutual fund background and the long-...................... To view our full article Click here
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