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

Last week, we heard of fund launches from Vector (energy); Merrion (UCITS European L/S equity); Aberdeen (Ucits fund of absolute return funds); Pardus Capital (debt); Evolved Alpha (multi-strat); Dalton IM (high yield mortgage); IKOS (Ucits version of currency fund); and Auldyn Partners (global macro). HSBC wound up a listed FoHFs.

The HFRX Global Hedge Fund Index was up 0.80% (est.) in April (+2.45% YTD); Credit Suisse Liquid Alternative Beta Index went up 1.14% (2.99% YTD); and the UCITS HFS Index gained 0.90%.

HFR reported that capital flows to Asian hedge funds had stalled in Q1-10, reflecting continued concerns about strategic and regulatory risks: total assets invested increased to $77bn and the number of Asian hedge funds declined modestly to 1,036; it was also reported that Hong Kong hedge funds DragonBack saw its assets cut by 85%, and Northwest double to $680m.

During Q1-10, BlackRock's Absolute Alpha's AuM topped GBP2bn; Och Ziff's AuM increased by $2.5bn to $24.8bn; GLG Partners' AUM ......................

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