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In the week ending 10 January, 2014, the HFRI Fund of Hedge Funds Index was up 1.2% in December (+8.7% in 2013), its highest return in four years; but despite the rebound in performance, according to eVestment, assets in funds of hedge funds are at an all-time low relative to their single manager counterparts.

Twins Cameron and Tyler Winklevoss are backing a new hedge fund run by Aalap Mahadevia called Briarwood Chase Management; Balter Capital Management’s new Long/Short Equity Fund was launched with $100m from Summer Road, a New York-based family office; Gregg Hymowitz raised $600m to back funds run by shareholder activists; and West Face Capital opened a $553m credit fund to finance companies.

Eagle River Asset, which closed down after its backer FRM Holdings pulled its investment, will return most of its investors money this month; JP Morgan A. M. is set to liquidate its alternative UCITS commodities fund next month following a drop in assets;

The HFRX Global Hedge Fund Index gained +0.56% in December (+6.72% in 2013; The Greenwich Global Hedge Fund Index rose +0.94% (+8.99% in 2013 YTD); The Lyxor Hedge Fund Indices gained 1.15% (+7.0% in 2013; The Bloomberg Hedge Funds Aggregate Index expanded by 0.1% (+7.4 in 2013 YTD); The Barclay Hedge Fund Index went up 1.28% (+11.28% in 2013; The Credit Suisse Liquid Alternative Beta Index was up 0.48 (+7.35% in 2013); The IQ Hedge Composite Beta Index up returned 0.39% (+3.62% in 2013; The HFRU Equity Hedge Index up gained 0.43% in (+8.67% in 2013; And the UCITS Alternative Ind......................

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