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Alternative Market Briefing Weekly

Opalesque Roundup: Hurdle rates become the norm and more creative for hedge funds: hedge fund news, week 33

Saturday, August 20, 2016

In the week ending 18 August, 2016, it was reported that hedge funds are increasingly agreeing to hurdle rates which would be becoming the norm and more creative. While many investors are unhappy with underformance, hedge funds have also broadly avoided big losses despite the Brexit shock. However, Barry Rosenstein’s Jana partners suffered its worst performance in its 15-year history with its main fund in negative territory; Horseman Global lost -2.68% for the month of July (+3.13% YTD); Crispin Odey has emerged as the worst performing European hedge fund manager so far this year; distressed debt hedge funds have missed out on bond rebound, data showed. Meanwhile, Senvest Management has surged back into the black for the year on bets on small, out-of-favour companies; and Matrix Capital returned 8.3% net in the second quarter, outperforming the S&P 500 index which returned 2.5%.

Preqin Hedge Fund Index up 2.17% in July (+3.67% YTD) as industry marks 5th consecutive months of gains; The HFRI EM: Latin America Index surged +8.9% in 2Q (+24.4% YTD); The Barclay Hedge Fund Index gained 1.99% in July (+2.99% YTD); The IndexIQ Hedge Index Family ended last month with all six indexes up; And the UCITS HFS Index has bounced back with gains of 0.75%.

Eurekahedge said that investors pulled out $5.7bn in hedge funds assets last month; investors pulled out money from Tudor Investment and Brevan Howard because of poor performance; China-focused hedge funds ......................

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