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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 Lyxor (2x Ucits FoHFs); Lu Jun (Greater China); Schroders (currency); Wexford Capital (macro); and Privalto (Ucits quant).

It was reported that almost 20% of Asia-Pacific hedge funds had shut since January 2008; Schlosstein closed its HighView fund which he had started with Evercore.

Secondary HF market provider Hedgebay saw a rise in discounted hedge fund assets trading in Q1-09, said the real issue was not availability of cash but the lack of conviction that investors had about markets and that the market had yet to bottom out; the FT reported that listed FoHFs were once again attracting investor attention as their performance improved while their shares continued to trade at sharp discounts to their net asset value.

EIM’s Busson slashed 70 jobs, and merged his hedge fund and traditional units into a `dynamic management` model; Citadel expanded into investment banking, hired three former Merrill Lynch executives to anchor the new operation.

Last week, CalPERS, a large U.S. pension fund, called for a policy discussion on placement agents, pushed for lower hedge fund fees and the end of ‘pay for failure;’ at the same time, New Mexico’s fund halted its alternative commitments until new policies on placement agents were adopted; elsewhere, industry experts said that institutional investors like pension funds would put fresh money into hedge funds this year but would also bargain for more concessions on fees and transparency.

It was reported the a push from investors had hedge funds move to outsourcing of administration; th......................

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