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By Benedicte Gravrand, Opalesque London: A roundup of last week’s hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining the alternative investments world.

Last week, we heard of fund launches from PXP Vietnam, Atlant Fonder, Gold Trust, Ermitage, Credit Suisse, Forecast Trading Group, Sciens, Skandia, ING, Brummer & Partners, and SSgA.

Venus Acumen Asia fund, APAC Greater China hedge fund, Tontine Capital and Tontine Partners, Quadrangle’s media-focused hedge fund, Arrow Partners’ Elmwood hedge fund closed down. RAB planned to close 3 FoHFs and several HFs. The closure of Florin fund sparked fears that fleeing investors would shut down half of Russian hedge funds.

Greenwich Global Hedge Fund Index was down 5.1% in October (-14.3% YTD); Credit Suisse/Tremont Hedge Fund Index returned -5.25% est. (-9.86% YTD); Hennessee Hedge Fund Index was down 5.52% (-15.30% YTD); Barclay Hedge Fund Index fell to -8% (-19.28% YTD); Eurekahedge Hedge Fund Index lost 3.3% (-11.63% YTD); 5 of the 6 Dow Jones hedge fund strategy benchmarks posted losses; Newedge Index results for short term traders was +2.37%, (+11.87% YTD) and for CTAs +4.97%, (+8.97% YTD); and Barclay CTA Index was up 3.38% (10.81% YTD). FRM, a FoHFs, said that 45% of the credit funds had not reported figures for September and that one third may have stopped altogether.

Toscafund A. M. pleaded its investors to stick with its core hedge fund after a 20% drop in performance and Denholm Hall announced a possible restructure of its Russia Arbitrage Fund. Other funds who suffered were Citadel, GLG, Blackstone's GSO Capital Partners, GoldenTree Asset Management, and Fortress.

Augustus Asset Managers delayed investors from exiting or buying into an emerging market portfolio until it had segregated assets frozen by the bankruptcy of Lehman Brothers. Lawrence and Gottex suspen......................

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