"Hedge funds finished up 4.06% in May, capturing the largest monthly gains since February 2000." Oliver Schupp, President of Credit Suisse Index, said, "Emerging Markets funds were the strongest performers, finishing up 6.96%. The Emerging Markets sector has experienced a significant turnaround over the last three months as risk appetite seems to be returning to markets, and investors are encouraged by positive signs of global growth and rising commodities prices." Schupp added, "Convertible Arbitrage managers also performed well during May as funds capitalized on the overall appreciation in convertible bonds globally. The Convertible Arbitrage sector has been up every month this year, and redemption pressure seems to have eased substantially as a result."

Also, for those interested in all things Twittery, HedgeCo is expanding its "Social Media Footprint" on Facebook, LinkedIn and Twitter.

According to Friedrich Kiradi, head of Merit Alternative Investments GmbH and director of the world-wide first Art Photography Fund. "Investments in material assets such as real estate, commodities, as well as art, continues to be an area that investors seem to be focusing on, with the growing importance of 'art investment' as bridge between the art and finance world." In addition to the financial gains as an investor in the Art Photography Fund, holders are by request able to experience an "emotional yield" in receiving actual works held within the fund upon redemption. The Art Photography Fund has gained more than 15% since inception in March 2008.

"We are convinced that there are better opportunities for investing in sectors or artists that are currently not being 'hyped'; but rather recognised pieces equalling the standard of works displayed in museums by 'blue chip' artists", according to Johannes Faber, gallery owner and advisor to the fund. The performance of the Art Photography Fund has supported his argument, with the fund closing the rump year 2008 up 11.68% and gaining +3.11% in 2009 as of the end of May. With this, the fund was not only able to outperform equity and fixed income markets, but also various art market indices.

Art Funds as an Alternative Asset Class

BlackRock, Inc. confirmed that negotiations are ongoing with U.K.'s third-largest bank, Barclays Bank plc, about the potential purchase of Barclays Global Investors (BGI), including the iShares business.

BlackRock's BGI buyout will break its own record in a hedge fund transaction, when in 2006 BlackRock took over Merrill Lynch's asset management business for $8.5 billion.

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Along with an award for Hedge Fund Administrator of the year for their alternative investment services (AIS), the Bank of New York Mellon received 6 other awards at the International Custody & Fund Administration (ICFA) Global Awards 2009 in London.

BNY Mellon also received the award for White Paper of The Year for 'Inside the Engine Room', published in June 2008, which examined the operational challenges and opportunities for Nordic institutions.

The Global Awards judging panel included Dr Werner Frey, CEO of the European Securities Forum and Angela Knight, CEO of The British Bankers Association.

More about the awards

HedgeCo.Net and HedgeCo Securities is holding the Spring 2009 Manager Showcase. This event is open to all accredited HedgeCo.Net members and will profile some of the leading fund managers.

This will also be a good time to meet the HedgeCo staff and to ask them any questions you have about the hedge fund industry. The overview of the program is here on Albourne Village.

Cayman Island law firm Solomon Harris is today hosting its inaugural Webinar on the highly topical subject of 'Managing Distressed Cayman Funds and lessons learned for new funds'.

"This fits in perfectly with our firm's progressive approach to business and our focus on keeping our clients up-to-date and informed. This is particularly so as our firm tends to work directly with investment managers and the more informed our clients are, the better for us as their legal advisers," says Sophia Harris, the firm's Managing Partner.

"The recent significant stresses placed upon hedge funds, particularly in Q4 of 2008, have given our investment funds group invaluable insight into the issues facing managers with liquidity problems and the legal and practical tools available to them." Paul Scrivener, partner and head of the investment funds group, said, "We were keen to share our experiences in a practical way with those involved in the industry and we felt the medium of the webinar was the ideal way to reach the widest possible audience."

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FSA regulated specialist asset management firm, Silk Invest Ltd, has hired John Bates, former Head of Credit Research Africa at investment bank Renaissance Capital, to spearhead its move into Frontier Fixed Income, an emergent hedge fund asset class.

"We will offer a liquid Frontier Market Fixed Income product, " Zin Bekkali, CEO of Silk Invest, said "Although largely focused on Sovereigns, there will be a corporate element that will represent up to 20% of the portfolio."

Daniel Broby, Chief Investment Officer says he is "delighted John is coming on board, having seen the quality of his work whilst we were together at Renaissance. He is truly one of the few people who not only know the universe inside out but he is also of the few able to capitalise on that knowledge to obtain equity like returns in the frontier fixed income space."

Offshore Emerging Market Firm Hires Hedge Fund Manager

FSA regulated asset manager, Silk Invest Ltd, successfully launched The African Lions Fund and the Arab Falcons Fund, which helped the hedge fund manager achieve its goals in becoming a specialist in Arab and African equities.

The Luxembourg domiciled African Lions fund and Arab Falcons fund went live on 27th March with an NAV of Euro 100 ($135.2). The portfolio managers, based in London, Cairo, Casablanca and Johannesburg, plan to build up the portfolio up cautiously, taking advantage of liquidity opportunities.

Full story; Hedge Fund Manager Silk Invest Launches Two Equity Funds

As part of a strategy designed to broaden the revenue base, leverage content over new platforms and promote The Economist brand to a young and dynamic audience, The Economist Group is delighted to announce the development of a public-entertainment facility that combines the magic of a theme Park with the excitement of macroeconomics.

Among the thrilling experiences Econoland will offer are:

The currency high-roller: Float like a butterfly with the euro and drop like a stone with the pound!
Chamber of horrors: Tremble at the wailing of distressed debt!
Fiscal fantasyland: Watch the economy shrivel before your very eyes as you struggle to stop growth falling!
Bankrupt Britain: Pit your wits against the government as you try to sink sterling and bring the country to its knees!
The severe contest: Try your strength against a bear market!

Econoland will appeal to the kid in everyone, although children themselves will not be admitted. The park will open on April 1st.

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or

Explore the Themepark with this fantastic clickable map

Long time hedge fund manager, Eric D. Pedersen has been appointed to The position of Chief Executive Officer and Chairman of the Board of Directors at fresh water reclamation company, STW Resources, Inc.

Pedersen has over 20 years of mergers and acquisitions and financing transaction experience, a significant portion of which has been in the water industry. Prior to joining STW, Pedersen co-managed The Water Fund, LP, a New York-based hedge fund that invested globally in water-related companies.

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