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Bloomberg – Hedge funds had net inflows of $4 billion in June as the index measuring their performance remained little changed after posting its longest stretch of monthly gains since July 2007, according to Eurekahedge Pte.
The industry had net inflows for the second consecutive month, bringing total assets under management to $1.33 trillion, according to a preliminary report by the Singapore-based research firm, based on the 35 percent of funds that reported June performances. The Eurekahedge Hedge Fund Index, tracking more than 2,000 funds, lost 0.02 percent, taking its year-to- date advance to 9.4 percent, the report showed.
Bloomberg – Hedge funds returned an average 5.2 percent in May, the best performance in more than nine years, as they attracted more money and global markets rallied, Eurekahedge Pte said.
The Eurekahedge Hedge Fund Index, tracking more than 2,000 funds, has advanced 9.2 percent this year, according to a preliminary report by the research firm based on the 27 percent of funds that reported May performance. The industry recorded net inflows for the first time in 10 months in May, gaining $1.5 billion, while total assets rose by $5 billion, the report said.
“Numbers of this magnitude clearly won’t last, but I do think the industry will have a very good year,” said Peter Douglas, principal of GFIA Pte, a Singapore-based hedge-fund consulting firm. “What we like at the moment is equity long- shorts, and Asia is an equity story.” Long-short equity funds bet on rising and falling stock prices.
Business Times Malaysia – Hedge funds posted their biggest decline on record last year, losing US$350 billion globally, as the credit crisis crippled returns and forced investors to pull money out, an industry report showed.
About 90 per cent of the money was lost in the three months to the end of November, according to a preliminary report published on Monday by Singapore-based data provider Eurekahedge.
Funds that invested in North America declined the most, posting a drop of US$183 billion for the year, the report said.
The hedge-fund industry shrank by about a fifth to US$1.5 trillion at the end of the year from a peak of US$1.9 trillion, Eurekahedge said.
West Palm Beach (HedgeCo.net) – Avalon Capital Holdings Corporation, and its wholly owned subsidiary, Traders Development LLC, announced that it has initiated alpha testing of its proprietary ECN system.
The Avalon ECN is a liquidity aggregator, which takes the best prices from an unlimited number of price providers, and allows traders to execute off the best prices in the market. The system will be ideal for traders seeking to execute large orders of a billion or more across many banks and hedge funds simultaneously.
"The overall goal of the Avalon ECN is to significantly improve the institutional liquidity in the Forex Market by applying the latest software technologies in the Foreign Exchange Industry." Dr. Vladimir Karpenkov, Chairman of Avalon Capital Holdings Corporation said. "Additionally, the Avalon ECN is designed to reduce the cost for Retail Forex brokerages that are seeking interbank liquidity."
"The Forex Market is about reducing overhead, managing risk and acquiring new trading clients. With Avalon technology, companies ought to increase their profitability while reducing risk." Alex De Khtyar, President of Avalon Capital Holdings Corporations added.
