In the week ending 30 May, 2014, data provider Preqin said 500 of the largest hedge fund managers control 90% of the industry’s assets; London is home to the second highest number of $1bn plus managers (80), although Connecticut is second in terms of capital managed by these firms with a combined total AUM of $400bn; and Myriad Asset is approaching $3bn of assets. William Ackman is raising billions of dollars to launch a closed-end public hedge fund; Morgan Stanley has launched two new funds to offer exposure to different types of alternative alpha strategies; and Alceda Fund and Clark Capital launched a tactical fixed income UCITS fund. Woodbine Capital said it would close down and return clients money after failing to meet performance goals; and the Ziff brothers are shutting down the last multibillion-dollar hedge fund that invests their family fortune. JP Morgan said equity hedge funds struggled in their performance in April and lost 0.70%; Chenavari Investment’s Toro fund was up 13.34% YTD and 3.98% in April; Chris Hentemann’s 400 Capital gained as Freddie Mac reported a 30% profits; and Hugh Hendry’s Eclectica hedge fund suffered a 1.7% loss in April (-9.6% YTD). The Scotiabank Canadian Hedge Fund Index Asset Weighted gained 0.63% in April (+4.24% YTD); And the Parker FX Index was down -0.70% (-1.50% YTD). Among investments, hedge funds are developing cheap smart beta products that imitate the performance of hedge funds without the huge fees. Data tracker Spence Johnson said Eur...................... To view our full article Click here |
Alternative Market Briefing Weekly
Saturday, May 31, 2014
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