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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 Sparx (global macro); Bluenose (market neutral); GAM (distressed FoHFs); Third Avenue (distressed securities); Rose & Sky (market neutral, equity long-short); OPVS Group (fundamental Asian credit); SYWGAM (China A-share FoFs); OGI Capital (global macro); University of Nebraska Foundation; AQR (hedge fund beta); Partners Capital (equity hedge); and Polygon's Griffith is reportedly seeking to raise money for new funds after having "gated" investors.

The Lyxor investable Index was up 1.04% in July, +3.24% YTD; The Australian Fund Monitors’ index up 3.31% (est.), 12.69% YTD; The Nordic Hedge Fund Index up 1.29% (est.); The Swedish HF index SIX HARCOURT was up 1.62% in August, 11.3% YTD; And the Credit Suisse Alternative Index Replication index up 1.55%, 7.73% YTD.

More asset losses among hedge funds and FoHFs; HFR said investors had pulled $150bn from FoHFs in 2008-09 and the industry is struggling to reinvent itself after Madoff; HSBC's Swiss bank reported a outflow of $4bn from its hedge funds business in H1-09; and Gottex saw total revenue drop by 51% YoY in H1. CNN n......................

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