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HEDGE FUND INDUSTRY GLOBAL NEWS ROUND-UP • RESEARCH • ABSOLUTE UCITS • DATA
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November 2 & 3, 2010, The New York Athletic Club, New York
The AR Symposium is a major hedge fund event which attracts the industry’s elite from
around the globe. Offering incisive and topical content, the Symposium will address the
overall outlook for the hedge fund industry and the financial markets, as well as the
challenges and risks across a range of specific strategies.
• Reputation for being the leading event in the U.S. with unrivaled speakers
• Informed debate with the most senior level hedge fund managers and investors
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Absolute Return Composite Index through long positions in the Brazilian Real and Japanese Yen. However,
the positive correlation of currencies such as the Canadian and Australian
Absolute Return Global Equity
Dollar with equities led to those with long positions in these currencies
Absolute Return U.S. Equity suffering. As investors remain cautious, some managers plan to utilise
tactical trading as a way to profit from short-term market dislocations.
0 Convertible & Equity Arbitrage With only one down month in the last
20, the EuroHedge Convertible & Equity Arbitrage Index posted another
strong month for August up an estimated 1.33% for a yearly return of
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5.85% for 2010. As equities sold off, volatility increased. Convertible
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Asia excluding Japan equity Despite encouraging domestic economic
60 and trade data, most Asian markets fell in August. The strong market
momentum from July faded as data from the US worsened and the
30 MSCI Pacific ex-Japan finished the month down 1.95%. The region was
led down by Hong Kong and Taiwan suffered a sharp fall as technology
0 was the weakest sector. On the upside, smaller ASEAN markets once
again managed to gain, including Thailand, the Philippines and
-30 Malaysia. Funds in this space fell an estimated 0.42% in August and
down 1.90% for the year to date.
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which affected the market. The China A share market finished flat in
MSCI Pacific Free Net
August, but is still down 19.48% for the year to date. Within China,
AsiaHedge Composite Index
AsiaHedge Japanese Equity Index USD
growth and imports appeared to slow and as further tightening policies
AsiaHedge Asia including Japan Index USD in the property market continued, Hong Kong fell for the month (down
AsiaHedge Asia excluding Japan Index USD 2.35%). Despite the negative news, Chinese equity was the best-perform-
ing strategy in August, gaining an estimated 1.49% median return.
New funds
INVESTHEDGE MEDIAN INDICES VS MSCI WORLD Credit Suisse has launched a UCITS III-compliant multi-strategy
% 120 fund of funds with some $130 million in day one investments,
making it one of the largest UCITS III fund of funds launches so far.
100 The Credit Suisse Solutions (Lux) Prima Multi Strategy fund will
invest in some 20 underlying managers, of which at least half will
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be run by the same managers in their flagship global multi-strategy
fund SAPIC 98. The Luxembourg-domiciled fund will invest in
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various alternative investment strategies in the liquid UCITS-
compliant universe including: equities, event-driven, convertibles,
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macro, credit, managed futures, fixed income, emerging markets
20 and interest rates. The fund is open to both institutional and retail
investors and offers weekly liquidity.
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Mandates
-20 August was the month when funds of funds began to show a bit
of a comeback. The size of the individual mandates totalled $575
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million, although not as large a figure as it would have been prior
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Absolute
UCITS
Everything you need to know
about UCITS hedge funds
A one-stop shop for news, data and analysis, this online service will offer:
-50
• Axa Investment Managers is planning to launch its first fund of
UCITS hedge funds in the first quarter of next year. The fund will
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AUM $m
The AsiaHedge New Funds Survey (based
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on fund launches recorded and confirmed
by AsiaHedge), shows that new funds 40 2,000
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20
over the whole of 2009, one can see the
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IH
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evidence of a clear and continued interest Source: AsiaHedge
faster Bigger
With over 13,000 funds listed in the database, HedgeFund Intelligence provides
the most complete source of hedge funds, and funds of funds than any data
provider*. With three specialist regional products (Asia-Pacific, Europe and the
Americas) a global fund of hedge funds and a new UCITS Absolute Return
database, the HedgeFund Intelligence database will meet your needs.
clearer
Faster
Updated weekly with (practically) all data available within four weeks of month
end, the extensive research and editorial team ensure rapid inclusion of new
funds and updates on key data points.
Clearer
The database provides dedicated, clear and detailed information on hedge funds,
trusted
UCITS Absolute Return funds and funds of funds (without unnecessary multiple share
classes). Links to news and analysis provide additional information on funds and over
70 non-investable indices are available to benchmark performance.
Trusted
With an experienced and dedicated specialist team gathering and verifying the data
to ensure accuracy, this database is used by many of the industry’s leading firms.
simple
Simple
A user-friendly interface allows effortless sorting by multiple criteria including
fund name, management company, performance, strategy, asset size and date of
inception. Compatible with Pertrac and fully downloadable into Microsoft Excel,
Access and other various third-party platforms.
*Comparative information taken from public sources.
To find out how we can tailor this powerful research tool to fit your requirements or
for a demonstration, please email sales@hedgefundintelligence.com or contact:
James Barfield +44 20 7779 7336 / jbarfield@hedgefundintelligence.com
Ian Sanderson +44 20 7779 7339 / isanderson@hedgefundintelligence.com
Absolute
UCITS
Data
Absolute UCITS proves a draw for database
NUMBER OF NEW FUNDS ADDED TO THE HFI DATABASE DURING AUGUST
With the launch later this month of the online EuroHedge InvestHedge
dedicated UCITS alternative database – Absolute AsiaHedge Absolute Return Absolute UCITS
UCITS, the HFI UCITS database saw a surge in new 120
HFI database
60
were fund of UCITS funds. Meanwhile, we saw
40
36 traditional hedge funds added to the database
during last month, 21 within EuroHedge, 10 in 20
Absolute Return and 5 from AsiaHedge. 0
Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10
DISTRIBUTION OF PERFORMANCE
%
Positive Negative
While equity markets sold off during August,
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hedge funds also had a challenging month, with
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only 56% of funds posting positive performance
for August. The HedgeFund Intelligence 60
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GlobalBriefing: Data
If you have a fund which you wish to be included please contact the following:
Europe Americas Asia-Pacific Fund of Hedge Funds UCITS
Samantha Munday Amal Robleh Wing-Yung Lok Meera Mehta Amy Kirbyshire
data@eurohedge.com data@hedgefundintelligence.com data@asiahedge.com data@investhedge.com data@absoluteucits.com
For more information on the database and subscriptions please contact Ian Sanderson on + 44 (0) 207 779 7339 or James Barfield on + 44 (0) 207 779 7336
Sandell’s assets fall as Castlerigg Ex-BlueCrest, GLG man Autumn musical chairs for Maryland issues RFI for
logs uninspiring returns Walsh joins Lombard Odier the Asian hedge fund space emerging managers
Tom Sandell’s Sandell Asset as EM debt head A spate of new hires in the The Maryland State Retirement
Management has lost over 57% of Richard Walsh, a veteran of hedge fund industry indicates and Pension System is
its firmwide assets over the past BlueCrest Capital Manage- that firms are gearing up for considering the creation of an
year. The firm is now managing ment, GLG Partners and Citi’s competitive growth amid emerging manager fund of
about $1.09 billion as of July 1 EMSO hedge fund operation, global economic recovery and hedge funds programme and
down from the $2.53 billion it has joined Lombard Odier strengthened investor has issued an RFI to retain one
managed last summer. Investment Managers as head confidence in Asia. or more managers.
of emerging market debt.
Impala’s flagship hits a rough Certitude hires ex-RIM man Former UVIMCO exec to lead
patch in August GAM teams with US firm DCI to head distribution new alternative business
Robert Bishop’s Impala Asset for UCITS launch Sydney-based Certitude Global Bruce MacDonald, former
Management took a hit in August GAM has launched its first Investments, formerly HFA director of asset allocation and
in its flagship long/short equity market-neutral credit fund, Asset Management, has risk analysis at the University
strategy. The Impala Fund was in collaboration with San appointed Hector Ortiz as head of Virginia Investment
down an estimated 4.30% in the Francisco-based credit of distribution. He will focus Management Company
onshore, while the offshore was manager DCI, with a strategy will on distributing Certitude’s (UVIMCO), is one of three
down around 4.20%. The AR that the firm describes as flagship products, which founding partners of Simple
Equity Index was down an “a unique offering in the include the Certitude Asian Alternatives, a firm that plans
estimated 1.78% in August, as of growing UCITS III universe”. Opportunities Fund. on offering a multi-manager,
early September. hedge equity alternative
Insparo hires Stock as firm’s Lux body names Asia head mutual fund in October.
D.E. Shaw to give back money chief strategist to promote UCITS in region
in multi-strategy fund Insparo Asset Management, the In a major sign that UCITS are Barclays Wealth beefs up
D.E. Shaw is making good on London-based frontier markets headed to Asia, the Association hedge fund expertise
redemption requests from investment firm focused on of the Luxembourg Fund Barclays Wealth, an
investors in its multistrategy Africa and the Middle East, has Industry has appointed Ching investor in hedge funds
D.E. Shaw Composite fund after hired emerging markets Yng Choi as head of its new Asia for its clients, has expanded
almost two years of limited veteran Graham Stock as chief office. Based in Hong Kong, she its alternative investment
withdrawals, and the firm strategist. Stock joins the core will help raise awareness of origination and distribution
expects assets to drop signifi- management team led by CIO Luxembourg as a fund domicile teams with a number of
cantly as a result. Mohammed Hanif. and promote UCITS in Asia. senior hires.
Compiled by head of research & data Group publisher John Willis Customer Services
Disclaimer: This publication is for information purposes only. It is not investment advice and any mention of a fund is in no way an offer to sell or a solicitation to buy the fund. Any information in this publication should not be the basis for an investment decision. EuroHedge does not guar-
antee and takes no responsibility for the accuracy of the information or the statistics contained in this document. Subscribers should not circulate this publication to members of the public, as sales of the products mentioned may not be eligible or suitable for general sale in some countries.
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