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Alternative Market Briefing Weekly

New hedge fund launches plunges to only 80 in 2Q22, lowest level since 4Q 2008: hedge fund news, week 36

Saturday, October 01, 2022

In the week ending September 30th 2022, the latest HFR Market Microstructure Report revealed that new hedge fund launches plunged to the lowest level since 4Q 2008 as the HFRI 500 Macro Index surged through global inflation-induced financial market volatility driven by commodities and long US Dollar currency exposures. The estimated number of new hedge fund launches fell to only 80 in 2Q22, a significant decline from the estimated 185 launches in 1Q22, representing the lowest launch rate since only 56 new funds launched in 4Q 2008. In the trailing 12 months ending 2Q22, an estimated 510 total new hedge funds have launched.

Hedge funds have provided their best downside protection in the ongoing bear market, as a proportion of broader market falls, since the dotcom crash at the turn of the 21st century, said a study. According to new research from WTW (formerly Willis Towers Watson), hedge funds have delivered downside management with returns of -5.6% between January and June 2022 (on the HFRI Fund Weighted Composite Index) compared with broader equity market declines of -20.5% on the MSCI World Index.

In new launches, Mark Corigliano, an eight-year veteran at DUMAC (former Duke Management Company), has started Corigliano Investment Advisors and is preparing to launch a long/short energy fund called Energy Security Fund LP; Cadian Capital Management has launched Cadian Opportunities Fund and an offshore equivalent - these funds focus on high-conviction investments made by the firm's flagship funds, according to a regulatory filing, and American investment management firm GoldenTree Asset Management has closed its ......................

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