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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 AIFAM (L/S equity FoHFs); GRT Capital (short-only healthcare strategy); First New York Securities (first hedge fund); Coupland Cardiff (long-biased UCITS fund investing in Asia domestic growth); Harrier Hawk (short US equity); Thames River (GEM absolute return); and Bank of America Merrill Lynch, which launched a family of Ucits III-compliant funds.
Cypress Lane Asia Fund closed down after a 10% loss since its August'09 inception; and Timescape Global Capital Management shut down after its assets had declined by 80%.
The HFRX Global Hedge Fund Index gained 1.12% (est.) in October and 6.52% YTD;
The Credit Suisse Liquid Alternative Beta index was up 1.14%, 6.65% YTD;
The Bloomberg Aggregate Hedge Fund Index went up 1.5%, 4.2% YTD;
And the UCITS HFS Index continued its steady rise for fourth month in a row, with 0.54% and 3.61% YTD.
Och Ziff saw an 18% rise in assets YTD with net inflows of $2.4bn; Man Group's FuM rose 5% for the six month period to 30 September 2010 ($40.5bn).
Cazenove is re-opening the Absolute UK Dynamic hedge fund and Ucits fund to new investments; UBP's $19bn FoHFs unit will reduce its headcount in New York in favour of Europ...................... To view our full article Click here
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