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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 Nicholas Maounis (hedge fund); Gramercy (3 EM debt strategies); Duet AM (commodities hedge fund); Anchor Point (commodities FoHFS); and Henderson (Newcits currency).
The Greenwich Composite Investable Index was down 2.18% in May, -0.69% YTD; and the Morningstar 1000 Hedge Fund Index declined 4% (est.), -1.8% YTD. Morningstar also announced asset outflows of $1.7bn in April.
Hedge fund investors pulled $11bn from hedge funds (from market-neutral, event-driven, managed futures and multi-strategy funds) in the first quarter of 2010, reversing fourth quarter assets inflows, according to Lipper; and hedge funds lost $66.87bn in May but investor inflows remain positive at $2.13bn, said HFN.
Man Group is introducing two new strategies to AHL alongside its core momentum-based, trend-following approach; it was said that four GLG employees will collect $13.5m in severance pay if they are asked to leave after the takeover by Man; it was also said that the the global macro strategy would gain from volatility and macroeconomic imbalances in 2010; a group of Lehman Brothers Ho...................... To view our full article Click here
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