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.
04/03/2010
Evolvence fund closes to outside investors
Evolvence Capital, the Dubai-based $1bn alternative asset manager focused on the Middle East, North Africa and India, has decided it will no longer take third-party capital for its Evolvence Mena Hedge Fund and will be solely a vehicle for proprietary trading, HFMWeek has learned.
The manager announced the decision to close the fund to outside investment in an investor letter. The fund, which launched two years ago, invests in both equities and corporate bonds and implements a multi-strategy approach. It allocates to Mena blue chip companies based on both fundamental and opportunistic approaches.
In January, the fund returned 0.08%. Last year it was up approximately 5% and in 2008, it was down 3%.
Evolvence Capital was founded by Khaled Al-Muhairy in 2001. Previously Al-Muhairy headed the North American department of the Abu Dubai Investment Authority (ADIA), where he specialised in
technology and telecommunication equity investments.
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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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