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Sparx Group, Asia’s second- largest hedge fund, is launching a fund that will invest in building hotels in Japan’s earthquake-devastated areas; Universa Investments is seeking $1bn for a new macro fund that will capitalize on mispriced options; GAM launched an Asia-focused Ucits fund; and Lyxor A.M. and Old Mutual launched their first single hedge fund manager on Lyxo’rs UCITS platform.
Absolute return UCITS funds’ assets reached $116bn, with 58 new funds in H1; Aberdeen Asset Management’s asset base slipped 4.8% in the last two months;
Man Group’s FuM fell by around 8.45% (to $65bn) in Q2 but its overall hedge fund performance was positive; and following news of Man’s loss of assets, some put forward that the hedge fund industry may face a new round of redemptions (maybe 5% by the end of 2001) after two months of poor performance and growing investor desire for safe cash.
Among the hedge fund news, we heard that Emirates NBD Asset Management had tied up with Man Group to manage money of its Islamic alternative assets fund; also, High River, an affiliate of Icahn Enterprises, withdrew its slate of nominees for The Clorox Company board of directors; rival hedge funds, brokers and others are combing through Paulson & Co.'s investments, trying to anticipate what Mr. Paulson might sell if he needs to return cash to investors; although at the same time, br...................... To view our full article Click here
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