Posted by admin on March 9th, 2010
Multi-Strategy Funds in February
Multi-Strategy Hedge Funds Beat Market in February
The S&P Stock Index outperformed hedge funds last month, posting a 3% return compared to hedge funds’ gaining less than 1%. Those hedge funds that beat the market were typically multi-strategy. It seems that funds with a very narrow focus have tended to struggle in the first two months of 2010 while many multi-strategy funds have continued last year’s exceptional performance.
Daniel Loeb’s Third Point Offshore fund was up 3.2% for February and 6.9% for the year through February, according to HSBC Private Bank; the fund is multi-strategy. And Brett Barakett’s multi-strategy Tremblant Partners fund–which gained almost 30% in 2009–was up 4.6% net of fees for the year through March 5, thanks to a very strong February, according to a letter sent to investors last week. A multi-strategy fund run by BlueCrest Capital Management LLP’s Michael Platt was up 1.1% during February, and is now up 4.5% for the year, according to HSBC. BlueCrest’s fund invests in many different instruments, including fixed income, while Tremblant and Third Point both invest primarily in global equities.
If there’s a general theme emerging for hedge funds in 2010, it’s that multi-strategy funds like Loeb’s and Barakett’s rode their diversity to gains, while funds with more narrow focuses, like energy or emerging markets, have, along with the markets they invest in, struggled. Source
Related to: Multi-Strategy Performance February 2010
Tags: Multi Strategy Performance February 2010, Multi Strategy Hedge Funds, Multi Strategy Funds, hedge funds using multi strategy, 2010 hedge fund strategies, hedge fund strategies 2010
Posted by admin on March 9th, 2010
Join us this week for three Twitter parties!
Wednesday: Join us from 9:00 to 10:00 tomorrow for the #LittleRemedies party. We’ll be chatting about the new Little Remedies Relief Finder and how we as moms can find relief in our busy days! We are giving away
nearly forty prizes during the party alone and telling you how to win $1,000 in cash.
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Thursday: It’s time for another fun Mom Select party! This week’s sponsor is Paper Mate and we want to know how you use writing to keep your personal connections in our busy world. Do you keep a personal journal to share with your kids, share your favorite recipes with friends or take the time to send personal notes? Learn more including how to
RSVP and enter to win.
Friday: This Friday’s weekly Sitewarming will be for one of our new favorite sites,
No Better Deal. There will be more information posted soon, but in the meantime, check out their
HD television giveaway. If you win, pop me some popcorn – I’m coming over!
Posted by admin on March 9th, 2010
Look who found the sun and told me what he thinks of winter…
Posted by admin on March 9th, 2010
Hedge Funds Favorite Currency
Survey Shows Dollar is Favorite Currency of Hedge Funds
A recent survey finds that the dollar is the favorite currency of hedge fund managers while sterling is the least favored currency. 57% of participating traders and hedge fund managers claimed the dollar as their favored currency bet, with the Brazilian real and Australian dollar trailing far behind in second place. One explanation for why funds prefer the dollar is that it is seen as a safe currency during economic turmoil and some managers are concerned that the economy may take a second dip.
Sterling enjoys the support of just 3% of respondents, according to the study, which was conducted in February.
Respondents to the monthly survey hold an average of $113 million in assets under management.
Managers who are bullish on the dollar do not generally believe that interest rates are set to rise significantly, the survey found. Instead, their preference for the U.S. currency could be based on its tendency to climb in times of economic stress.
“Managers who expect the global economy to double dip are likely to be bearish on rates and bullish on the U.S. dollar because of its safe-haven status,” the report said.
Two-thirds of fund managers expect the Greek debt crisis to spread to other euro-zone countries. Some 15% think that this will lead to the eventual breakup of the euro. Source
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Tags: Hedge Funds Favorite Currency, hedge funds most preferred currency, hedge funds currency trading, hedge fund managers survey, hedge funds currencies, hedge funds bets
Posted by admin on March 9th, 2010
Posted by admin on March 9th, 2010
New York Billion Dollar Hedge Funds
New York Home to Most Billion Dollar Hedge Funds
The logical follow-up to the news that the number of billion dollar hedge funds in London has fallen by 15% is that New York has secured its place as the premier hedge fund hub. Although the number of large hedge funds in New York dropped from 120 to 118, a relatively minor decline after a tough 2008 and the next year spent working to regain investor trust. With more regulation and higher taxes for London managers, New York is likely to keep its long-held position as the top destination for hedge funds.
In the tussle for dominance between the world’s two big financial capitals, New York and London, the Yanks are winning in the battle to attract the biggest hedge funds. While the number of hedge funds with more than $1 billion under management fell to 55 this year in London from 65 last year, in New York, their numbers slipped only marginally to 118 from 120, keeping the Big Apple streaks ahead of the competition, according to the London-based research firm Hedge Fund Intelligence.
New York has been the most popular destination for hedge funds in the $1 billion club for some time, and by a wide margin. Funds with at least a billion dollars under management that are headquartered there (and often domiciled offshore in places like the Cayman Islands for tax and regulatory purposes) represented 46.6% of global assets managed by similarly sized funds in January of this year. The big hedge funds in second-place London managed just 15.9% of the same total. Source
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Tags: New York Billion Dollar Hedge Funds, New York Billion Dollar Funds, hedge funds in New York, Hedge funds $1 billion AUM, Assets under management new york, new york hedge funds
Posted by admin on March 8th, 2010
I personally don’t get the entire biscuit and gravy thing, but for those of you that do… here’s a coupon for a free biscuit and gravy at Waffle House (dine in only) for use thru March 15.
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Posted by admin on March 8th, 2010
JPMorgan Largest Hedge Fund
JPMorgan Chase Ranked Top Hedge Fund Firm by AUM
JPMorgan Chase & Co. has been ranked the world’s largest hedge fund firm by Pensions & Investments magazine. The bank owns Highbridge Capital Management LLC and the two combined to manage $53.5 billion in assets last year. Bridgewater Associates ranked second at $43 billion and John Paulson’s hedge fund firm, Paulson &Co., ranked third at $32 billion. For the complete list follow this link.
Pensions & Investments‘ list of the world’s largest hedge fund firms — those with at least $20 billion as of Dec. 31 — shows that assets managed by the 11 companies totaled $316.2 billion, virtually the same as the $316 billion managed by the 10 hedge fund managers that made P&I’s last ranking, based on data as of Dec. 31, 2007 (P&I, Feb. 4, 2008).
The flat growth disguises what clearly was a period of intense turmoil for many hedge fund managers, some of which were rocked by performance woes in the last months of 2008 and first few months of 2009, as well as by client redemptions.
The result is that the composition of the list of the hedge fund managers with more than $20 billion under management changed significantly:
•Hedge fund assets of three prominent firms — Goldman Sachs Asset Management, Renaissance Technologies Corp. and Citadel Investment Group — fell below the $20 billion cutoff, dropping the three from the ranking.
Related to:JPMorgan Largest Hedge Fund Firm
Tags: JPMorgan Largest Hedge Fund Firm, JPMorgan Chase & co. pensions and investments survey, largest hedge funds by assets under management, 2010 list of the largest hedge funds, rankings largest hedge funds
Posted by admin on March 8th, 2010
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Posted by admin on March 8th, 2010
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