LES HEDGE FUNDS SE CACHENT POUR MOURIR ET AUSSI POUR ECHAPPER A LEURS CLIENTS FOUS DE RAGE

 
du 17 au 21 décembre 2018 : source : La Revue de Presse de Pierre Jovanovic

Ce sont des tremblements de terre de 2 et 3 sur l'échelle de Richter qui secouent en ce moment le contient de Wall Street. Bloomberg ainsi que nos amis de ZH ont dressé une liste très complète: "Le hedge funds suisse GAM Holdings (GAM is a global asset management firm built by investors, for investors. We are more than 900 people in 14 countries, who collectively manage CHF 146 billion in assets for our clients as at 30 September 2018) a vu ses clients retirer 4 milliards en 2 mois avec des pertes de 24 milliards... 

Jabre Capitals de Genève (1200 milliards en gestion), lui, a décidé de rendre l'argent à ses clients vu les difficultés rencontrées sur les marchés.. "Jabre’s decision to return capital from three of his hedge funds rocked the industry this week, closures have been a key theme of 2018.".

J'adore ce genre de charabia qui veut cacher le fait qu'ils ont tous perdu des milliards : - ) 

Ensuite c'est Convexity Capital Management de Boston (ex gestionnaire des milliards de l'université de Harvard), qui selon ZH ne sera pas là pour très longtemps, "has seen its assets fall by almost half in the past year. AUM at the fund overseen by Jack Meyer collapsed to just $1.6 billion at the end of November, according to Bloomberg. That’s down from about $3 billion last year and a peak of $15 billion in 2013 as the fund - like virtually all of its peers - has struggled amid the low-rate environment.

Paradoxically, Convexity saw aggressive redemptions even as it outperformed the majority of its peers as rising interest rates helped lift the fund’s performance in 2018. The Boston-based fund performed as much as 3.7% better than benchmarks through November. It trailed those points of reference by about 1.8% in the first half of last year".

Ce n'est pas tout: "As Bloomberg reminds us, one such fund is Jon Jacobson’s $12.1 billion Highfields Capital Management, which recently announced it would return client money after two decades, joining other well-known operators including Richard Perry’s namesake company, Eric Mindich’s Eton Park Capital Management LP and John Griffin’s Blue Ridge Capital LLC, which have all exited the industry over the past two years. Leon Cooperman, meanwhile, plans to convert his firm into a family office at the end of the year.

In total, an estimated 174 hedge funds were liquidated in the third quarter globally, outstripping new starts by 30, data from Hedge Fund Research Inc. show ... According to a report from Eurekahedge, closures have outnumbered launches for the third year running: 580 funds decided to shut as of Dec. 3, compared with 552 openings" Et là, ZH a une phrase clé: "Instead, many firms got pummeled in last month’s market swoon and are headed for their worst year since 2011"...

Traduction: fin 2018, ils sont dans une situation pire qu'en 2011, ce qui n'augure rien de bon. Lire ici ZH et ici Bloomberg. Revue de Presse par Pierre Jovanovic © www.jovanovic.com 2008-2018

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