IndexUniverse.com – The New York-based ETF provider today filed papers with the Securities & Exchange Commission for three actively managed ETFs: the WisdomTree Real Return Fund, the WisdomTree Managed Futures Fund and the WisdomTree Long-Short Fund.

The Long-Short fund will pair positions in WisdomTree’s own dividend and profits-weighted ETFs against positions in comparable cap-weighted ETFs. The filing notes that WisdomTree’s fundamentally weighted ETFs “have the potential to outperform” traditional cap-weighted indexes, and this fund aims to capitalize on that potential. The Long-Short fund will be market neutral, holding equal long and short positions, aiming to deliver consistent returns regardless of market direction.

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Tehran Times – "We do have to have much more government oversight and involvement than we’ve seen in the last decade or so,” said Waxman, a California Democrat.

“A lot of people didn’t either know what they were getting into or much care because they weren’t going to be the ones holding the bag,” Waxman said in an interview on Bloomberg Television’s "Political Capital with Al Hunt,” airing.

Hedge funds need regulation "to make sure the incentives are right for them and others to do the right thing,” said Waxman. "Certainly we need more transparency.”

His House Oversight and Government Reform Committee will take testimony next month from representatives of hedge funds and from Freddie Mac and Fannie Mae, the biggest buyers of U.S. mortgages.

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West Palm Beach (HedgeCo.net) – Hedge Fund manager Gartmore Investment Management Limited is launching the Gartmore European Absolute Return Fund, to be co-managed by Roger Guy and Guillaume Rambourg, subject to regulatory approval.

The new fund will be a UCITS III limited issue vehicle with capacity set at £200 million, the fund’s three week offer period starts on 6th October before its launch on 31st October 2008.

The Gartmore European Absolute Return Fund, the first in a series of absolute return offerings planned by Gartmore, will seek to deliver positive absolute returns over the long-term in all market conditions by taking long and short positions in equities and derivatives. It will be managed using a similar strategy to Gartmore’s flagship European equity long/short hedge fund – the Gartmore AlphaGen Capella Fund.

Commenting on the proposed launch, Richard Pursglove, Head of UK Retail at Gartmore, said: "Over the last decade we have transformed our business into a specialist provider of long-only and alternative products. This latest development is an important strategic addition to our retail fund range, and has been driven by substantial client interest from discretionary asset managers, wealth managers and IFAs seeking uncorrelated, positive returns."

He concluded: "Gartmore’s substantial experience in shorting, combined with it long established hedge fund infrastructure, will be attractive to investors looking for absolute returns."

Gartmore is a leading provider of long-only and alternative investment solutions and one of the pioneers of managing hedge funds on behalf of institutional investors. Since entering the hedge fund arena in 1999, Gartmore has built an $11billon** hedge fund business and is one of the largest hedge fund providers in Europe.

Alex Akesson

Editor for HedgeCo.Net
Email: alex@hedgeco.net

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