Editor's view: 29 July 2010
Like Paris in the spring, the lure of the Ucits space is proving a heady experience for many managers. First Europe fell for the charms of these onshore products, now the Americans are joining in a communal swoon.
19/11/2009
Texas Tech pulls out of New Castle fund
The flow of redemptions out of New Castle Partners is set to increase as the $670m Texas Tech University Endowment pulls its capital.
Texas Tech will redeem $12m from New Castle Partners on 1 December. The endowment has recently added three new hedge funds to its portfolio and is searching for long/short managers to help fill its allocation target.
New Castle Partners was caught up in the insider trading probe brought against Galleon and which has spread to include lawyers, management consultant and traders.
Danielle Chiesi, portfolio manager at New Castle, and Mark Kurland, a senior managing director and partner at the firm, were arrested as part of the insider trading investigation.
Following reports of New Castle’s association with Galleon, UBP liquidated its New Castle Market Neutral US Equity Fund, a Ucits III compliant US long/short equity strategy. It was the first time the Swiss private bank had outsourced the management of one of its products.
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Comment: Amy B Hirsch
"It is imperative that investors of all types ensure they understand the relationship between the introducing party and the manager"
Investors sit tight on impaired assets
Playing the ‘what if’ game can be fun but, depending on the number of variables in question, it can get a little out of control. Apply this conceit to the hedge fund sector's performance during the financial crisis and the possible permutations become legion.
Hedge fund inflows in Q2
Hedge inflows have slowed as volatile markets made sitting on the sidelines the safest option in Q2. According to figures from HFR, the quarter’s $9.5bn - a 30% drop from Q1’s $14bn – reflected the 'wait and see' policy of many investors as the HFRI Fund Weighted Composite dropped -2.5%. With nerves setting in, recent predictions of a boom of interest in the alpha potential of smaller managers also fell flat, with the lion’s share of money going to large $5bn-plus managers.
Read MoreFunds of hedge funds fall out of favour
A growing number of institutional investors are now opting to invest directly into hedge funds instead of allocating to the space via funds of hedge funds.
Read More
22/09/2010
UK: Ucits IV
This month’s HFMWeek Subscriber Club breakfast will take place on Wednesday 22 September. Join us and…
30/09/2010
US: topic to be confirmed
The next HFMWeek Subscriber Club breakfast will take place on Thursday 30 September. Topic and…
19/07/10
HFM Week US Performance Awards
Following the success of the last year’s HFM US Hedge Fund Performance Awards we...
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