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From Kirsten Bischoff, Opalesque New York:

Hedge fund launches, which grew fewer and further apart throughout 2009, seem to be picking up speed once again. Recent announcements have shown there are expectations that stabilizing markets will see more new launches at the start of 2010, and many managers are hoping this coincides with assets returning to the hedge fund industry. The timing of new launches has been a topic discussed (without much optimism) numerous times over the past two years. Illiquidity meant even established funds were struggling to hold onto assets; fraud meant that jittery investors and government regulation would require infrastructures only affordable to billion dollar funds; and throughout the crisis asset raising has been weak with "$100 million is the new $1billion for launches" becoming an oft cited phrase.

However, firms such as Canadian-based Agilith Capital, which launched its flagship fund in October 2007, just as the financial crisis was gathering steam, may be the proof that the timing of a launch is inconsequential. The Agilith North American Diversified Fund, was awarded a bronze medal (Best Hedge Fund Newcomer) at the 2009 Canadian Investment Awards earlier this month after the fund, which invests in North American equities (small/med/large cap firms across every industry except resources) returned +25.4% since its inception. ......................

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