Retail hedge funds to raise $49 bln in next 12 months (Reuters)
Investors are expected to pump $49 billion into funds that mimic hedge fund strategies over the next year, to make so-called “liquid alternatives” the fastest growing part of the asset management industry, a survey said. That would mark a 44 percent jump in the amount of money brought in by these funds in the last year, according to a survey released on Monday by Deutsche Bank AG (USA) (NYSE:DB) of almost 300 hedge fund managers and investors overseeing $6.8 trillion in assets.
Hedge Fund Merchant Advances 16% as Oil Drops With Iron Ore (Bloomberg)
The Merchant Commodity Fund gained 16 percent in the first eight months as bets on declines in crude oil, iron ore and sugar helped to boost returns, according to Chief Investment Officer Doug King. The fund, run by King and Michael Coleman, returned almost 8 percent last month, King said in a phone interview from London on Sept. 5. Merchant’s assets under management, a gauge of performance and inflows, increased 39 percent to $185 million in August from the previous month, King said. The fund returned 15.9 percent in 2013, according to King.
Hedge Funds Rise 1.56% In August (Finalternatives)
Hedge funds enjoyed broad-based gains in August as stocks hit record highs. The HFRI Fund Weighted Composite Index returned 1.56% last month. The benchmark is now up 4.1% on the year, about half the 8% managed by the Standard & Poor’s 500 Index, which ended August at an all-time high. Macro funds were the best-performing major strategy with a 2.13% jump (2.74% year-to-date)…
Activist hedge fund, bank have good rapport (BusinessWeek)
Activist investors tend to rub CEOs and chief operating officers the wrong way. …But Blue Harbour Group LP, an activist hedge fund in Greenwich, Conn., seems to be getting a warm welcome from the management of Short Hills-based Investors Bancorp. Blue Harbour Group, which manages more than $3 billion for pension funds, endowments and sovereign wealth funds, has over the past year or so paid $212 million for about 20 million Investors Bancorp shares, amounting to a 5.7 percent stake in the former mutual savings bank, according to a recent filing with the Securities and Exchange Commission.
Providence Equity Partners Sells Passive Stake to Neuberger’s Dyal Unit (WSJ)
Buyout group Providence Equity Partners LLC has sold a roughly 10% equity stake to Neuberger Berman’s Dyal Capital unit, according to people familiar with the matter, as Dyal continues accumulating pieces of alternative-investment firms. …Private-equity firm TPG agreed to sell a small ownership stake to China Life Insurance Co. this summer, and Bridgewater Associates, the world’s largest hedge fund, within the last few years has sold off several stakes, including to the Teacher Retirement System of Texas and the Ontario Municipal Employees Retirement System, one of Canada’s largest pension plans.
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