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Alternative Market Briefing

Opalesque Roundup: Old guard keeps closing their hedge funds as new ones step in: hedge fund news, week 40

Monday, October 02, 2017

In the week ending 29 September, 2017, Steve Cohen has sent investors documents for the upcoming launch of his new hedge fund, Stamford Harbor Capital; Mike Novogratz is starting a $500 million hedge fund to invest in cryptocurrencies, initial coin offerings and related companies; Optima Fund is making available its Optima STAR Long Strategy in Europe; Asia Frontier launched the Luxembourg domiciled AFC Asia Frontier Fund which invests in the Frontier economies of Asia; Capital Fund Management has launched an Australian trend-following trust; former Sprott Asset Management team leader James Fox has launched Ninepoint Partners; and Zurich-based Eniso Partners has unveiled a new FX strategy.

David Perry plans to end the main operations of TeamCo Advisers by early 2018 and ultimately shut the firm; Louis Dreyfus Holding BV will close by the end of 2017, joining a wave of commodity investment vehicles that have shut; and Whitney Tilson said he is shutting down his fund at a time when industry assets are growing but returns continue to lag.

The Lyxor Hedge Fund Index was slightly up with 0.1% returns from 12 September to 19 (+0.9% YTD); The Wilshire Liquid Alternative Index returned 0.4% in August, outpacing the HFRX Global Hedge Fund Index's 0.3% return; And the Greenwich Global Hedge Fund Index was up +0.6......................

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