Tuesday, 16 September 2014
Last updated 6 hours ago
Jan 29 2010 | 10:41am ET
In another sign that things are returning to normal in the hedge fund industry, an increasing number of successful firms are closing their best funds to new investors.
The latest to make such a move is BlueCrest Capital Management, which will close its systematic quantitative BlueTrend fund at US$10 billion, Financial News reports. The fund currently manages US$9 billion of the London-based firm’s US$17.2 billion.
BlueCrest is the second top hedge fund to tell investors it will close a fund this week. Former GLG Partners star trader Philippe Jabre announced that he would close his Jabre Capital’s flagship Multi Strategy fund at US$2.5 billion.
The increase in recent closings—over the past three years, the proportion of hedge funds closed to new investment dropped to 13% from 17%, according to the Credit Suisse Tremont Index—is a sign that investors are beginning to pour assets back into the hedge fund industry, especially into those funds that have done well amidst the recent market crises. Many top funds reopened for the first time in years during the recession to replace billions in assets lost to redemptions and poor performance.
The BlueTrend fund soared 43% in 2008, a year in which the average hedge fund sank by double-digits. Last year, it posted a much more modest return of 4.3%.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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