NOTES ON BUBBLES: 1. Net return gaps 330 bps (5-year), 210 bps (3-year), 160 bps (1-year). FoHFs offer lower volatility than single managers (lower standard deviation) and their correlation to broad indices on a 1-, 3- and 5-year basis is lower than single managers. 2. The traditional 1 & 10 fee model is no longer […] Read more »
Graphic of The Day – Regional Relative Performance of Long/Short Managers
By Simon Kerr, Publisher of Hedge Fund Insight The returns of equity long/short managers are under examination here, and how the managers have performed relative to their regional indices. It is no surprise that European long/short managers have produced returns year to date closely in line with the STOXX Index – the aggregate stock selection […] Read more »
Underlying Hedge Fund Managers used by Blackstone Alternative Asset Management
By Hedge Fund Insight staff Blackstone Group is tapping into the mass wealthy by teaming up with Fidelity as a distributor. Fidelity Investments is offering the Blackstone Alternative Multi-Manager Fund as part of its Portfolio Advisory Service. Already $1bn has been channeled into this mutual fund version of the Blackstone Alternative Multi-Manager Fund, which has […] Read more »
The Top Ranked Hedge Fund Managers For Sovereign Wealth Fund Assets
The Top Ranked Hedge Fund Managers For Sovereign Wealth Fund Assets Source: Towers Watson Global Alternatives Survey 2013. Data as of end 2012. Related story: AQR and SWF Assets Read more »
Graphic of the Day – Blackstone Hedge Fund Solutions
From Blackstone’s Second Quarter Results: Represents currently invested incentive fee eligible AUM above or below High Water Mark and/or hurdle. Totals may not add due to rounding. July 1 subscriptions of $199 million are not included in quarter end Fee-Earning AUM. The move over the High Water Mark for the majority of assets in Hedge […] Read more »
The Twitterati on Hedge Fund Advertising Post JOBS Act
Twitter users took to social media to offer a humorous look at what to expect now that the Securities and Exchange Commission decided to lift a long-standing ban on marketing and promoting private funds. Here is a selection of the offerings: Barry Ritholtz @ritholtz 10 Jul Sometimes you feel like a derivative re-hypothecated security, […] Read more »
Graphic of the Day – New Launches of Hedge Funds
By Hedge Fund Insight staff In 2012 new hedge fund launches outpaced fund liquidations for the third year running The inverse relationship between changes in the number of launches and the number of closures each year has broken down, suggesting that the prospects for the industry at the smaller end have changed The number of […] Read more »
Quotation of the Day
“We’re quite skeptical in general of the hedge fund industry,” said Andrew K. Tsai, Co-Founder and managing principal, Chalkstream Capital Group. Industry data shows that sixty-one percent of all hedge fund money is concentrated in the hands of the top 100 hedge funds, and, said Tsai, “that (level of) concentration makes for some wacky correlations […] Read more »
One in Four Hedge Funds Are Hiring in Research
From The 2013 Hedge Fund Compensation Report: “Firm size had little bearing on compensation, with similar earnings reported by employees from the smaller funds as those from firms with $1 billion under management. “Hiring trends remained roughly on par with the previous year, with 24 percent of firms reporting hiring within research departments, 20 percent […] Read more »
Quotation of the Day
From a presentation by Vertigo6 (www.vertigo6.nl) and picture by Beeldopbouw Fotografie/www.pimgeerts.nl Read more »