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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 Thélème Partners (equity L/S); Solaris A.M. (equity arb); SYZ & Co (high-yield currencies); Systematic Alpha Management (managed account version of flagship strategy); and Crimson Capital (fixed-income hedge).
BlueCrest had to liquidate its Ucits fund as it could not replicate the performance of offshore parent fund; and Paribas closed its multi-asset absolute return vehicle Millennium Tracker fund due to low assets.
Some had better luck on their assets; `must-have' hedge funds from Och-Ziff, Elliott and Comac Capital pulled in almost a fifth of the money going into the $1.7tn hedge-fund industry this year, reported Bloomberg; Phibro is to reopen its main commodities hedge fund to new money due to investor interest, said MarketWatch; F&C assets rose 14% (to $172bn) in Q3 on markets and the purchase of Thames River; but London-based FIM, facing legal action from investors who lost money in Bernard Madoff's $65bn fraud, has seen its assets slump after clients exited.
During 3Q-2010, all hedge fund managers in the Dow Jones Credit Suisse Hedge Fund Index rose above...................... To view our full article Click here
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