Hedge funds are closing faster than they are opening, but it’s not as bad as last year. At least 481 funds have liquidated so far this year, per HFR, compared to 369 launches. But industry assets are at a record $3.1 trillion with about 8,200 traditional hedge funds, down only slightly from a peak of about 8,500 in 2015. It’s still worth noting some of the big names to call time on one or more of their funds in 2017: Eric Mindich, John Burbank, John Paulson, Brian Taylor and now famous macro bear Hugh Hendry shutting Eclectica and stock picker David Stemerman closing Conatus to explore politics.
Some highlights from the CNBC/II Delivering Alpha conference in New York last week:
- JPMorgan's Dimon says bitcoin 'is a fraud'
- Dimon says his eventual successor works at JPMorgan
- Billionaire investor Robertson says stocks are in a 'bubble'
- Bridgewater's Dalio says would be 'terrible' if Cohn left White House
- Blackstone's Schwarzman describes pressure to disband Trump advisory groups
- Kynikos' Chanos says he is shorting Continental Resources
- Marcato's McGuire sees Terex's share price more than tripling
- P&G's business structure takes center stage in Trian proxy fight
- Starboard Value says Amazon sales a boon for Perrigo
More recent big money news from around Reuters:
- Harvard endowment posts gains, new investment chief not satisfied
- Largest U.S. university endowment funds pull back on ETF exposure
- Sale of ex-Trump aide Scaramucci's SkyBridge on track: executive
- Highland Capital promotes credit specialist Parker to co-CIO
- Hedge funds bet on bright future for metals
- Stockpicking mutual fund managers try new bet: themselves
- South Africa's Capitalworks to launch London hedge fund business
- AXA knocking on doors of French peers over asset management tie-up
- 10,000 UK finance jobs affected in Brexit's first wave
- Guggenheim Partners says its CEO not planning to step down
- U.S. expects Madoff $4 billion fund payout to start this year
- Gundlach: Equity investors to see change in dynamic with QE reversal
- Credit Suisse looks to make an impact with new investment wing
- DE Shaw urges EQT to split after Rice Energy deal
- Clariant short-sellers squeezed as activist Corvex doubles-down
- Big funds lose bite as new investors flood European lev loans
- How $5 billion of debt caught up with Toys 'R' Us
- Ackman asks ADP's retail investors to back him in new video
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