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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 the alternative investments world.

Last week, we heard of fund launches from Temujin, APS, Security Global Investors, DWS and Aquila, GAM, Frontier Capital, WERU, Eidesis, DynamiteF3, Marshall Wace, Creststreet, New Stream Capital, F&C and SZTIC in China. Merriman put off plans to launch cleantech hedge fund. Man Group veterans, including ex-chairman Harvey McGrath, launched Revere Capital Advisors, which will invest in hedge fund start-ups.

Toscafund and Henderson sought to restructure their fund after poor performance led to heavy withdrawals. Those, and other restructuring endeavours in the past weeks, led to some speculations as to whether hedge funds should stick to the 2 and 20 fee structure. Meanwhile, it was noted that some hedge investors had asked for longer lock-ups to avoid closures.

Most indices agreed September was the worst month in a decade. The EurekaHedge Hedge Fund Index was down 3% (est.), (-6.21% YTD); the BarclayHedge Fund Index -5.96% (est.), (-11.31% YTD); the HFRI Index -4.68% (-9.41%YTD); the Hennessee HF index -6.34% (-10.28% YTD); the Greenwich Index GGHFI -4.85% (-8.85% YTD) and the GI2 -5.87% (-8.82% YTD); all Dow Jones Hedge Fund indices posted losses and the Barclay CTA Index gained 0.68% (7.86% YTD). The Hedgegate Swiss FoHF Index was down 2% in August.

Hedge fund closures are expected to soar: Tantallon Capital closed its Smaller Companies after bad bets on Asian stocks, Close Man’s hedge fund was shut due to a fall in AUM and redemptions were suspended, Drake completed the closure of three hedge funds (but planned new funds) and Julius Baer`s GAM unit shut its equities fund after its assets shrunk.

Despite the gloomy picture which hedge funds had to d......................

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