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In the week ending 22 May, 2015, it was reported that big hedge funds are closing their firms to outside investors and deciding to manage their own assets; Jana Partners said that the value of its U.S. public equity holdings jumped by $2.2bn in Q1 to reach $11.5bn; rising valuations and the search for higher yield have pushed assets in many alternative investment funds; investor requests to take out cash from hedge funds rose in May to their highest this year; Glenview Capital said it would stop accepting new investor money in its main hedge funds by year-end; Vanguard Group stretched its lead as the largest manager of U.S. defined contribution plan assets; and Blue Sky Alternatives has successfully completed a $20m capital raise.

Feroz Dewan and Caleb Watts are leaving Tiger Global to launch their own funds; Dexion Capital has joined forces with Dr Sushil Wadhwani to launch a new fund; Prudential Financial is introducing a product that allows retail investors to bet with strategies favored by hedge-fund managers; Jared Cohen has announced plans to launch a new distressed-debt hedge fund with the backing of Pete Briger; and Oskar Lewnowski is preparing to launch a base and precious metals fund.

The Lyxor Hedge Fund Index posted a flat performance, up 0.06% (as at end May 13); The Barclay Hedge Fund......................

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