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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 to the alternative investments world.

Last week, we heard of fund launches from ING, RWC Partners, IndexIQ, Danfonds and Tai Tam.

Ramius Capital and Centaurus Capital closed funds, and Thomas H. Lee might either shrink or shut down two funds.

The HFRX Global Hedge Fund Index returned -3.04% in November (-22.30% YTD) and most HFRX indices were down that month.

Many funds, including big names, continued to announce negative returns, with the notable exception of John Paulson’s. Despite all that, it was said that hedge funds` losses were beginning to slow down, and PerTrac reported that a broad view of hedge fund performance had revealed that there were plenty of strong performers. BNY Mellon statistics showed that pooled FoHFs had posted negative Q3 results; Credit Suisse/Tremont found that managed futures funds had gained in popularity and performance; Parker Global Strategies said that currency hedge funds were up an average of +2.5% in October, but at expense of investors.

Morgan Stanley forecasted that hedge fund assets would fall below $1trn by end-2009, and a Lipper TASS report showed that the hedge fund industry had lost $170bln in 3Q08.

Some hedge funds were still trying to hold back the redemptions wave: London Diversified, Highbridge Asia hedge, Income Partners’ credit fund, Fortress’ Drawbridge global macro fund, D.E. Shaw, Tudor`s BVI, Farallon (the last two also plan to split their funds in two.) Artradis, RAB Capital, Cannizaro cut fees and lengthened lockups in their new funds that will buy beaten-up fixed-income Asian securities. It was also predicted that the next wave of redemptions might hit Asian hedge funds.

There were plenty more predictions o......................

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