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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 Woori and Temasek; QuantZ (market neutral); Tyrus (event-driven); Bainbridge (CTA/global macro FoHFs); Mountjoy (investible portfolio); Dexia (3 x European); Man and Credit Suisse (managed accounts); Yield/Capital Appreciation; Flintlock (commodity); Scipion (mining, Africa); Tom Maheras; and Tufton (transport). Jupiter opened its Financials Hedge Fund to external investors.

Ex-TCI’s Patrick Degorce finally 'soft' launched Theleme Partners with $200m; New Castle Funds, a hedge fund firm embroiled in the Galleon case, is creating a new management company and new funds (and also cut some of their fees); and the former CEO of Tower, Tetsuo Tanimura, set up a hedge-fund consulting firm.

The Children's Investment fund (TCI) closed down in Asia following the departure of its regional head earlier this year; and Citigroup was said to be thinking about re-launching its hedge fund unit (Citi Alternative Investments) and was looking for a new name.

The Nordic Hedge Fund Index was up 1.58% in September, 13.21% YTD; the Parker FX Index was up 0.89% and 0.66% YTD; the CASAM CISDM Equal Weighted Hedge Fund Index was up 3.21%, 21.94% YTD; and the HFRX Absolute Return Index was -0.61% (est.) in October, -4.36% YTD.

Hennessee reported that as a market correction was on its way, hedge funds are on track for one of their best years since 1987; HFR said that Asian hedge-fund assets had increased to $73.7bn in Q3-09; TABB Group found that assets in hedge funds&......................

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