Amaranth, Nau Capital, Fidelity, Henderson, Stanley Shopkorn, Red Dot, Morgan Creek, GAM, Ashton Advisers, Louis Dreyfus, Aurarian Capital, Cascabel Management, Highland Capital, Rebus Partners, Atlas Capital and Compass’ affiliates announced future fund launches.
Citigroup closed the Tribeca Global hedge fund, which marked of the end of the Tribeca Group. Dow Kim of Diamond Lake aborted his plan to launch a hedge fund.
The managers in the limelight were Paul Tudor Jones (Tudor Inv. Corp) and stock picker James Pallotta, who were said to end their 15-year partnership. Tudor Jones also said Pallotta would start his own firm in 2009 with his support.
We received news of negative performances from various indices, some deemed as the worst this year so far. However, HF returns were found to be still outperforming broader markets (see Opalesque Exclusive below). It was found that HFs made more bets oil prices falling in July – as oil prices sank below the $120 level for the first time since early May. Big houses such as Paulson’s, Och-Ziff, GLG, Blackstone, John W. Henry and Fortress also reported some losses. In contrast, Jim Simons` Medallion fund was said to be up 48% at the end of July.
Tuckerbrook A.I. teamed up with HARDT Group Advisors to form a hedge fund incubator company HT Capital Corp, and Victory Park Capital and FRM Capital Advisors announced a strategic relationship.
As for institutions, Massachusetts pension fund pulled out of active managers to reassign capital to index funds and HFs. Japan’s Dai-ichi Mutual Life Insurance Co. said it would make more hedge fund investments. Fund manager Hermes, owned by the UK’s £37.6bn ($75bn) BT Pension Scheme, started to make direct investments into hedge funds outside of its internal platform.
Trends: It was noted that the number of hedge funds investing in greentech was incr......................
Source:
What happened last week: 4 - 8 August, 2008
Today's Top Stories:
- http://www.opalesque.com/AMB2008/46194Hedge_fund_indices_for_July_average.html
- http://www.opalesque.com/AMB2008/46215Australasia_Pengana_takes_over_Rubicon_Asia_Special.html
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