NEW hedge fund raises $ 96 M

New York hedge fund firm Fir Tree partners has launched a new hedge fund.

The Fund, which is offered by Fir Tree affiliate Camellia Advisor, up 96 million dollar begins 1 dec, according with the Securities and Exchange Commission filing made public on Wednesday.

Also in archiving, will fund open to investors in less than a year. The money was raised from 10 investors who put in a minimum investment of $1,513,.

FIR Tree Partners was founded in 1994 by the Wall Street veteran Jeffrey Tannenbaum. The company has approximately $ 7 billion of assets under management and acting in various strategies including real estate.

eVestment | HFN industry report: October 2011

Click here to read the full report.

eA |HFN industry overview: October 2011

November 22, 2011 with 3,525 hedge fund products, reporting, HFN Hedge Fund aggregated Index was + 2.37% in October and-3.61% YTD 2011 while S and P 500 Total Return Index (S & P) was + 10.93% during the month and + 1.30% YTD.

Hedge fund industry October highlights
• Total industry assets increased approximately 1.01% to $ 2.484 trillion in October. Performance accounted for the majority of the asset increases and net investment flows were negative.
• Equity market exposure was the primary positive performance driver in October. Credit strategies has lagged, but were positive and raw material resources, especially those with high exposure to FX markets brought down the total hedge fund returns.
• The total performance reasons that month came from sectors and policies that were down significantly in Q3 and remains negative for the year, with the exception that the health-focused resources.
• UCITS structured hedge funds dragged the broad industry in October and is-7.15% YTD. UCITS products, virtually aggregated and long/short equity only has consistently crisis management HFN Hedge Fund Long/Short Equity and aggregate indices of 2011.

Shows that defensive positioning of equity focused funds, muted returns from non-irritable credit and relative value strategies and losses from managed futures funds, likely due to long exposures to the US dollar, resulted in overall hedge fund returns significantly lags the massive capital market increase. There are pockets of strong results, but in the months that October is not expected that the industry keep pace with the stock markets.

HFN developed outliers ratio to determine which sectors producing returns outside of their normal ranges. In October, illuminated mortgages relationship, managed futures and fixed income arbitrage strategies sub-sectors abnormally crisis management in October.

Regional benchmarks
A complete reversal from September produced all regional exposure specifications total positive return in October. Emerging market exposure was most positively influenced by the market exuberance with Russia and Brazil focused medium tip.

Funds investing in Russia received an average of 9.80% which reduced average losses in the lower-14.20% YTD. Russia focused fund performance 2011 has been poor, but the funds investing in India and in the MENA region has been worse-21.29% and-15.84%, respectively. After an average of + 6.27% in October, funds investing in Australian markets are only regional exposure are positive in 2011. Funds investing in Japan seems very defensively positioned in October. The group is much equity oriented, but 70% of reporting medium produced negative returns one month after the Nikkei rose + 3.31%.

Monthly access Flow estimates
• Estimated Total hedge fund assets at the end of October 2011 was $ 2.484 trillion, an increase of 1.01% or 25.0 billion dollars from September.
• Performance accounted for an increase of 25.7 billion dollars and investors accounted for a net outflow of 770 million dollars.
• The most important growth/decline (% access change due to investor funding/redemption) was-0.03%, the closest to the flat reading then eA |HFN started tracking monthly flows in 2009.
• In the first 10 months of 2011, investors have put estimated 48.4 billion dollars to the hedge fund industry.

Despite the net outflow from investors in October, third in the last four months, it is more important sharp reversal of trend from Q3 when there were two months above average investor redemptions.

Some sector specific feeds
• The post natural disaster impact of net investor inflows into Japan funds seem to have disappeared. Investors withdrew more than the assigned Japan focused funds in October for the third month in a row and at a rate which has risen in each of the past three months.
• Flows to commodity focused and managed futures strategies jumped in October along with diversified sectors funds, giving defensive positioning from investors.
• Investor's redeemed more than assigned to mortgage related strategies for second month in a row and increased pace in October.
• Funds lies in Asia continued to attract assets in above average in October, but funds investing in Asian markets had their second month of above average outflow. Developments prior to September had been both classifications to attract new assets.

Performance Review
Fixed income (FI) strategies
• The average return of all fixed income focused strategies was + 1.04% in October and + 3.13% for the current year.
• Corporate and emerging market focused funds that performed best during the month, + 2.44% and + 1.57%. Distressed credit funds were + 2.25%, underperforming broadband needy universe that was + 3.01% in October.
• Fixed Income Fund's assets rose 0.23% in month to 671.8 billion dollars, but the increase was solely performance driven. Investors redeemed NET 4.44 billion dollars during the month.

Equity capital (EQ) strategies
• The average return of all equity focused strategies was + 3.90% in October and-5.13% YTD.
• Funds with a bias towards value investing most participated in the equity market rally, rising an average of + 6.46%.
• Equity assets increased approximately 3.15% to 795.6 billion dollars in October, but investors redeemed NET 3.87 billion dollars during the month is still a heightened pace.

Raw materials and strategies for Foreign Exchange (FX)
• Natural resource specific commodity strategies was + 1.90% in October and + 1.94% YTD.
• Agriculture funds was + 2.32% during the month, and metals markets funds returned an average of + 0.71%. The two differ on the basis of YTD returns an average of + 6.94% and-15.43% respectively.
• Funds targeting financial futures and FX markets were both closed in October,-1.58% and-1.85%, respectively.

Summary analysis
October's rally was a sharp reversal of the previous two months trend and subsequently represented the hope that the European sovereign situation would have a resolution in sight with the announcement of the size and scope of the EFSF. Punctuated by Spain's sub par bond auction, November seems to be a return to reality and some of the trends prevailing in Q3, namely weak equity markets and a strong US $. These environments again likely will favor relative performance of the equity strategies in their respective markets, credit strategies will again likely to outperform stocks and global macro managed futures strategies will be mixed, but mostly positive, if they weren't shaken Webcast currency reversal. At this rate, it is likely it will be his second negative year total returns in the last four digits, the first time in its relatively short history.

Click here to read the full report.

NJ But Charged With Hedge Fund Fraud

Two New Jersey men were arrested Wednesday on charges of fraud victims of more than 3.5 million dollars in false hedge fund scam.

New Jersey U.S. Attorney Paul j. Fishman announced that George Sepero, 39, Glen Rock, N.J., and Anthony Provenzano, 29, in Garfield, NJ, were charged with wire fraud conspiracy.

Prosecutors in a complaint Sepero and Provenzano claimed to have operated several hedge funds with a secret computer programs to invest in foreign currencies and achieve returns more than 170 percent in the previous two years.

Prosecutors also argued that the two men spend money invested with them at advanced vehicles, luxury travel and five-figure bar tabs.

Fishman offered a mild rebuke to the victims of the alleged scheme that they should have been more vigilant when they invested with Sepero and Provenzano.

"Nobody asks to be merchants, but they look to invest should always be skeptical of the rate of return that extends so far beyond the norm," Fishman said.

The couple made his first appearance in Federal Court in Newark, NJ Wednesday afternoon. U.s. Magistrate Judge Michael Shipp was released both defendants on $ 250,000 bond each, and ordered that their travel is restricted and passports surrendered. If convicted, face Sepero and Provenzano 20 years in prison and a fine of $ 250,000.

Complaints against George Sepero and Carmelo Provenzano

Advent och eVestment alliansen gå med styrkor

Software provider of hedge fund management, Advent Software has entered into a strategic cooperation with investment data and analytics company eVestment Alliance.

Notice on Tuesday means that there is integration between Advent portfolio accounting and solutions, Advent portfolio Exchange ? (APX) and Axys ? and eVestment Alliance Exchange product.

Both sides see this as helping asset managers reduce the time and effort associated with completion of the consultancy and third-party databases with quarterly data.

Matt Crisp, principal and co-founder of eVestment, said, "this relationship has been formed as a direct response to client requests to simplify data update process and with Advent superior software, we're certain it will present tremendous advantages for clients of both organizations."

George McLaughlin, senior director at Advent, said, "Advent saw an opportunity to join forces with eVestment Alliance to help our clients streamline the process for updating third party databases."

Both companies are familiar to readers of this site eVestment Alliance is the parent company of Hedgefund.net while Genesis has been sponsor of Hedgefund.net twice a year Hedge Fund Administrator survey.

Advent and eVestment data integration solution is expected to be available in early 2012.

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Previously Moore capital Trader close Fund

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(A) forms trader at the New York-based hedge fund Moore Capital Management has decided to close his hedge fund.

After eight years, Tim Leslie's firm James Caird Asset Management, will liquidate the $ 1.6 billion fund that suffered from massive losses this year, Bloomberg reported.

The credit fund lost an astonishing 8.9% in the first 11 months of 2011, while most hedge funds lost an average of 3.8%.

Leslie plans to start a smaller hedge fund next year and is looking to raise $ 500 million for the new fund and cap assets at about that level, according to Bloomberg.

Leslie joins an increasing number of hedge fund managers who have shut down their funds due to Europe's debt crisis.

Go to Bloomberg article

Jim Simons gives $ 150 M gift to NEW school

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Just in time for the holiday season, Stony Brook University in Long Island gets a $150 million gift from a hedge fund billionaire.

James Simons, the founder of New York-based quant hedge fund Renaissance Technologies, and his wife Marilyn, attended the donation announcement at the Stony Brook campus on Wednesday. They were joined by New York Governor Andrew Cuomo as well as a bevy of state and school officials.

The $150 million gift by the Simons is considered the largest amount donated in the history of the State University of New York, the parent system of Stony Brook, and more than twice as much as the Simons’ $60 million donation to the university in 2008.

Most of the $150 million will be given over a seven-year period to go toward medical sciences research, including the construction of a life sciences building and the creation of a neurosciences institute.

The donation will also help pay for 35 new endowed professorships, and create 40 fellowships for graduate students.

The couple spoke about their donation to the school, where James Simons was once the chairman of the math department, and where his wife earned her undergraduate and graduate degrees in economics and met her future husband.

"Stony Brook has given me so much and I'm very happy to be able to give something back," said Marilyn Simons at the announcement.

The notoriously reclusive Simons said for years he and his wife wanted to donate money to Stony Brook but were discouraged by minimal state support for improving the university. Then, commitments from governors - starting with former governor Eliot Spitzer - to raise school tuition to upgrade facilities changed his mind.

"I really have no doubt that within the next, five, six, seven years, Stony Brook is going to join the ranks of America's and the world's truly great public universities, and I am happy to part of it and so is Marilyn," Simons said.

Additional reporting by Ricardo Kaulessar

Photo capture of video stream of hedge fund billionaire James Simons and his wife Marilyn at an announcement Wednesday of the couple's $150 million donation to Stony Brook University in New York. Credit: Ricardo Kaulessar.

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eVestment | HFN focus strategy report: financial sector

Click here to read the full report.

Overview: financial sector hedge funds

EVestment |HFN active and inactive databases, performance and information on assets of 89 unique funds investing primarily in the financial services sector. There are an additional 35 funds investing in multiple industries and has explicitly taken note of the exposure of the economy.

The classification is much equity oriented and includes exposure to different subsectors including large and small banks and financial services to businesses, thrifts, insurance, and specialty finance firms. Strategies are primarily long/short, but the event driven, focusing on consolidation is a common theme.

The Angel in a relatively poor performing market, the Group has produced returns and volatility statistics are similar to the broad hedge fund industry in both 2011 and LTM.
• The Group has substantially performed financial sector benchmarks 2011 both in terms of performance (900 + points) and volatility (almost half the standard deviation of monthly).
• Investor sentiment towards financial sector funds has been better than most other sector specific equity funds in 2011, but still far below average in the industry.

The financial sector has become one of the most volatile capital market sectors during the last 12 months. The threat of a large-scale sovereign crisis in Europe together with increased regulation have done in and invest in the sector a challenge. The rest of the report takes a closer look at asset flow and performance trends in the classification to determine sources of benchmark outperformance and measure investor sentiment.

Total asset levels and investors flow trends
eVestment |HFN tracks AUM and publishing time estimates for funds investing primarily in the financial sector. Global hedge fund exposure to the sector can be significantly larger, but tracking impressions of sectors means is not possible at this time.

• Total AUM in funds investing primarily in the financial sector was 15.81 billion dollars at the end of October 2011, a decrease of 2.05 billion dollars or 6.21% through 10 months of the year.
• Investor's redemption net 610 million dollars from the group in 2011 to a core decline 3.59%. This compares with a growth rate of 2.21% for hedge funds industry 2011 core.
• Performance has reduced the financial sector fund AUM estimated 440 million dollars to October; an asset-weighted return of approximately 2.91% compared to-1.63% for hedge funds.
• "Investors have been net redeemers of assets from the financial sector funds in 9 of the last 12 months, but it was the jump in distributions in September.

Despite the above average and sustained total payments from the financial sector hedge funds, have been pockets of investors ' interest in 2011 and has mostly for those funds that performed in 2010. Average net total 2011 for funds returns exceed the Fund's average financial sector 2010 was 7.05 million dollars. Average 2011 flow for those crisis management 2010 was a net redemption 14.27 million dollars.

However, no Fund really doing in 2010 and have a meaningful input 2011 is posting positive returns the current year or returns greater than the average for the group in 2011. A potential positive for AUM will emerge is that there are no large funds have experienced net outflows so far, but also performs very well. It is probably these funds that will attract investments by 2011.

Regional performance trends
Table 5 compares the percentile ranks financial sector funds over the past 12 months based on their declared regional investment aid focus.

• The European sovereign crisis has seriously affected the relative performance of funds investing in the region's financial sector. Proceeds from the Group Global economy also shows high exposure to the European economy.
• The U.S. economy has not only performed the Confederal Group of the European economy by almost 400 bps 2011, they have also performed all focused hedge equity funds and the sum of the hedge fund industry YTD.
The Angel good relative performance, fewer than one-third of U.S. focused financial sector funds are positive in 2011. Those are large, up an average of + about 12%. The task is that the minority has made the right call in the group in 2011 and they have been rewarded.

Financial sector focused Sub Strategies
Figure 9 shows the performance of economy focused medium with stylistic systematic and their relevant broader hedge fund peer groups.

• Financials sector funds invest based on a fusion/event driven, dramatic crisis management their peers during a prolonged period.
• Clean and broad capital market movements has been much affected by macro events overwhelming micro factors, wider event driven and fusion/risk arbitrage has performed long/short equity strategies suggest idiosyncratic factors are blamed for the poor performance of event driven/fusion financial resources.
• Small/Mid CAP funds have performed well compared with the broader financial sector funds. The Group posted better results than long/short equity funds, but crisis management towards sector size independent small/micro cap over a longer time perspective.
• Both biased style groups showed significantly higher volatility compared to the broad economy focused sector funds, but was well below the NYSE financial indices and the S & P 500 TR.

Performance comparison of equity sector
Funds investing in financial records was in the middle of the pack in comparison with other sector specific equity strategies, LTM.

• Perhaps surprisingly, financial sector funds showed the lowest volatility of the preceding 24 months in relation to other sector specific equity funds (based on the annualized standard deviation); natural resources sector topped the list.
• Sector specific equity funds continue to show high strategy correlations, varies between 0.76 (financial resources) to 0.87 (financial to property) since Jan-2009.
• Healthcare focused funds, generally regarded as a defensive sector, has performed all other equity sector groups on the basis of the current year.

Forward
Economy has received much attention since the financial crisis both in terms of the role played and how some companies have performed in a unique environment then. European sovereign debt crisis continues to loom over large parts of the industry and MF Global bankruptcy was reminscent of the risks for 2008. The sector has, however, sufficient diversity both by market cap and industry subsector for managers to efficiently outperform benchmarks. In addition, the sector remains volatile and trading at levels seen in mid-2009, managers can see the possibilities. Downside risks, however, may be close to all time highs as effective assurance is absolutely key.

Although overall performance has shown controlled downside volatility for the group, will many individual economy oriented funds have to show greater resistance to beta-driven losses to stem outflows in the near future. In the intermediate term, secular changes in performance drivers for many funds come from the eurozone crisis, particularly the recapitalization of banks. These events will give the macro backdrop against which subsectors and company specific microeconomic events will challenge. Investors in space should be aware of any funding expectations and plans for management of these factors.

Click here to read the full report.

Singapore fast avkastning kapital till investerare

Singapore-based hedge fund RSR capital returning capital to its investors and is planning to start next year.

The company plans to re-strategize after it suffered almost 8% in losses during the first 10 months of 2011, reports Reuters.

"We will try out new strategy from January to June 2012, and if we like performance, we accept funds from external investors again, says chief operating officer and founding partner Christophe Delorme in e-mail to Reuters.

Despite growing interest in Asia, has more than 80 hedge funds in the area closed down this year due to dwindling assets, according to Reuters.

Go to the Reuters article

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MF Global grilled again by Congress

MF Global bankruptcy saga continued Tuesday with another Congressional hearing which had some new wrinkles as compared to the previous.

This time we hear the Agriculture Committee, Senate not only from previous MF Global CEO Jon Corzine and federal regulators if the broker-dealer's spectacular collapse in October that the Agriculture Committee, the House did last week, but from some of the victims caught in the economic fiasco.

The hearing began with testimony from clients who had accounts with MF Global, and might never be able to get their money back because the alleged found segregated customer funds with MF Global investment money that led to 1.2 billion dollars in customer funds are still missing.

Roger Hupler, Chairman of Freeland Bean and grain, a cooperative in Freeland, Michigan, spoke to the members of the cooperative who lost money in MF Global account.

"He is not a prospect, just a responsible operator. He sells cash grain and with futures options, hedge risk, said Hupler.

Minnesota farmer Dean Tofteland offered sharp criticism about MF Global allegedly did business, which he lost over $ 300,000.

"The call" illegal comingling "on Wall Street is called" stealing "back on the Main Street," said Tofteland.

The two men, along with Kansas farmer C.J. sucked and Jeff Hainline, Chairman of advanced beings in Bloomington, Indiana, all agreed that the money needed to be returned immediately and new regulations needed to be in place to make sure it doesn't happen again.

After their testimony was Corzines turn. This time, he was joined in the infamous hot seat of current MF Global president and chief operating officer Bradley Abelow and its current Chief Financial Officer Henri Steenkamp.

Agriculture Committee Chair Debbie Stabenow (D-MI) full all three with variations of the same question, "where is the money?" but received only variants of the same reply, "you don't know where the money is?" from the trio.

However told Jill Sommers, a title of Commodity Futures Trading Commission's review of MF Global, Reuters on Wednesday that regulators have a better sense of where the funds went missing but has not decided if any funds are moved from customers ' accounts to the brokerage accounts were "illegitimate".

Go to the Reuters article

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