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Last week saw only a few launches including one from Daniel Goldberg who announced plans to step down as head of Morgan Stanley's Brazilian unit to start a hedge fund specializing in high-risk credit products, and a launch from former Deephaven Capital manager Edouard Salet.

Highland Capital Management LP said it will take three years to complete the fund’s liquidation. A study by Dow Jones and Credit Suisse show that hedge funds are on pace to double 2010 investor inflows in 2011. However, assets in Swiss funds fell 2% in June on concerns over Eurozone debt problems.

The of Imperia Investment Group expanded to $65m because of fresh inflows, Jeffrey Gundlach’s hedge fund’s assets have risen 28% on mortgage-backed bonds since its launch in September 2010, and Gottex Fund Management assets are now at $8.9bn. Henderson Global Investors lost GBP 438 million of the assets when Gartmore Investment Management acquired it in the first half of the year. And, Blackstone Group reported its 2Q 2011 financial results and is expecting profit to increase to $703 million on $1.3 billion in revenues, up 243% or $498 million from the $205 million profit at the same time last year.

The performances of large hedge fund startups consistently show underperformance but typically ......................

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