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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 Iveagh and 47 Degrees North (Newcits FoFs); Prudential (market neutral); Deutsche Bank (15 alternative mutual funds); JT (China); Congrong (healthcare); Bank of Beijing and Huili A.M. (China); FMG (Iraq); Woori and Fullerton (Asia-focused FoHFs); Mondis (global macro); Harcourt (UCITS fund focusing on CTAs and global macro); Prestige (multi-strat); Paris (multi-strat); Evolution (L/S equity); AlphaClone (equities strategy managed account platform); Iron Harbor (global macro); and Zorica ( multi-strat FoHFs).
Rampart closed down its 9-month old energy hedge fund after raising insufficient capital; Energy Capital is to close its MMT Energy Fund after returns went down; Plenum closed down its Power hedge fund as clients moved money into its riskier Power Surge fund; and Seasons Capital wound down three hedge funds due to a challenging stock picking environment.
The Credit Suisse Liquid Alternative Beta Index went down 2.64% in May (+0.27% YTD); and the HFRX Global Hedge Fund Index was down 2.64% (est.) (-0.26% YTD).
Big beta managers and firms offering high-alpha strategies should be among the more resilient assets gatherers this year said Pensions & Investments, whose annual...................... To view our full article Click here
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