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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 new firm AlphaNex Capital (systematic hedge fund); Universal-Investment and York A.M. (global merger arbitrage absolute return Ucits fund); Bridgewater (more liquid version of hedge fund); Ayaltis (distressed credit FoHFs); Key A.M. (Newcits); and eStats (high frequency futures trading).
Paolo Pellegrini, CEO of New York-based PSQR Capital, announced he would close down and redeem money to investors on September 30 after his fund fell 11% this year, despite gaining more than 60% in 2009.
The Morningstar 1000 Hedge Fund Index rose +2.7% in July (0.4%YTD), as funds saw outflows of $1.6bn in the first half of year.
Not much news this week, but a lot of digging in the past instead: Jon Wood, founder of the SRM Global hedge fund was revealed to have been the second most generous Tory donor during the recent UK e...................... To view our full article Click here
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