Fund of Funds to Trade Publicly

London Stock Exchange

A London based hedge fund company with a  fund of funds product  is planning to list on the London Stock Exchange. The fund, the CQS Diversified Fund will invest its asserts in the Segregate Portfolio Alpha (DVA) a fund of funds.  CQS has over $8 billion in assets under management.

CEO of CQS, Michael Hintze, believes the multi-fund approach is appropriate for investors in the listed funds sector.


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GS to Withdraw $120 Million from Major Hedge Fund

Goldman Sachs is withdrawing more than $120 million from Harbinger Capital Partners' most prominent hedge fund, the $3.4 billion Harbinger Capital Partners Fund. Harbinger has approximately $20 billion in assets under management. Goldman's withdrawal comes after revelations that Harbinger's CEO, Philip Falcone, borrowed hundreds of millions from the firm's other funds to pay personal taxes as well as the relatively poor performance of the fund.


Because redemption agreements with Harbinger limit quarterly redemptions to 25% it will take 12 months for Goldman to receive its entire investment. It is reported that Goldman had as much as $1 billion invested with Harbinger.

Philip Falcone, who grew up in Minnesota and was a star hockey player in college, helped Harbinger funds return more than 100% in 2007 with timely bets that the U.S. housing market would collapse.

Hedge Funds Have Strong October

Hedge funds had a relatively strong October led by Global Macro and Emerging Market hedge funds. Overall, the hedge fund sector posted returns of 2.35% for the month (a 32% annual rate), according to HFRI Fund Weighted Composite Index. Overall, the index is up just over 7% on the year. By comparison, the S&P 500 was up just over 8% YTD.

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