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In the week ending 04 November, 2016, hedge funds have not totally lost their appeal for institutional investors as the biggest Danish pension fund is sticking with it; Karen McQuiston of Prudential Global Investment said that those who dump all alternative and hedge funds are missing the bigger picture, and JP Morgan added that there has never been a better time to add alternatives to your portfolio. Still, new data by Preqin showed that the hedge fund industry is losing appeal as it delivers lower returns to investors and Kentucky is planning to pull out at least $800m from its hedge fund portfolios. Merrill Lynch released a data showing how institutions have sold stocks for 21 consecutive weeks; Bayerische Versorgungskammer is hiring more external managers as it diversifies away from low-yielding government and covered bonds; and JPI launched an alternatives division seeking investment opportunities in plain vanilla asset classes. David Rogers and Joshua Donfeld, with the backing of Druckenmiller, launched a hot new hedge fund last week; Apollo Global is raising money for its new LBO fund as it spends money more than ever before; Castle Hook Partners started trading last week with about $900m of assets; American Beacon launched the American Beacon Numeric Integrated Alpha Fund; Synchronicity Futures has launched the Commodity Long-Short Program with a $10m commitment from the Dickson Family; NuWave Investment launched the NuWave Short-Term Futures Portfolio; and Goldman Sachs launched an ETF seeking to track the Goldman Sachs Hedge Fund VIP Index, a proprietary index maintained by GSAM. The HFRX Global Hedge Fund Index declined -0.57% in October (+0.75% YTD); The Lyxor Event-Driven Index was down -0.3% as of Oct. 25 (-1% last YTD); And the MVIS North America Long/Short Equity Index fell -0.55% (+1...................... To view our full article Click here |
Alternative Market Briefing Weekly
Saturday, November 05, 2016
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