Goldman Sachs defends its fund of funds offering

AR spoke with Kent Clark and Chris Kojima, co-heads of Goldman's fund of funds unit. They say bad press hasn’t hurt business. READ FULL STORY

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• 
  Plain truth at Plainfield

  Max Holmes is fighting a smear campaign started by two dodgy creditors. As the facts come out, he's being vindicated.

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  The value of Seth Klarman

  Beaten-down markets have been a boon for Baupost, which has become the sixth-largest hedge fund in the United States & a force to be reckoned with.

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  David Tepper is the happiest man in hedge funds

  Never afraid to be first, David Tepper's Appaloosa grossed $7.5 billion last year by betting on financials early on.

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• 
  The indirect way to San Jose

  The city's pensions consider investing via funds of funds.

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  Starting from scratch

  After some high-profile mistakes, San Diego's retirement plan is changing how it invests in hedge funds.

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  Pennsylvania's plan B

  The state's retirement plan for teachers revamps its approach to absolute returns.

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• 
  New funds bounce back

  Fund launches began to pick up pace compared with last year, and the biggest 43 funds garnered $10.9 billion.

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  Doing more with less

  Demand for aid went up during the recession—at the same time growth of hedge fund philanthropy slowed.

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  The boom in independent administration

  At least $587 billion in U.S. hedge fund assets now use independent administrators, up from $438 billion last year. Citco continues to be the top administrator, with $147 billion, according to the AR database.

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  Prime time

  Prime brokers are back on their feet and aggressively going after market share, using add-on services like capital introductions to attract cash-strapped hedge funds.

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  The Rich List

  Is the recession over? It is for the wealthiest hedge fund managers, who made a record $25 billion in 2009.

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  JANA remains flat despite activist opportunities

  Barry Rosenstein and Gary Claar’s firm, which managed $2.1 billion as of January 2010, is flat for the year. JANA remains encouraged by a number of situations, including bets on Motorola and Questar Corporation.

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  QIM funds gain in June but are still down for the year

  Jaffray Woodriff’s firm produced positive numbers in June after a disappointing May. All of its managed futures funds are still down for the year, but its long/short equity fund is up by 16.78%.

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  A fortress mentality

  Proposed European regulations will stifle both U.S. and U.K. funds.

Latest news

• Kingdon’s credit fund gains from short book, while flagship stagnates
• AR named best new publication of 2009, taking five ASBPE awards
• Congress reinstates CFTC's power to ban CDS gambling
• Ex-Highland executive preps hedge fund buildup at $12bn Onex
• Citadel beefs up global equities team
• Blackstone, Marathon, Shaw join Symposium lineup
• JANA remains flat despite activist opportunities
• Brand names: June 2010
• Help AR pick tomorrow's best hedge funds
• Sprott to launch first fixed income fund
• JAI head trader departs
• QIM funds gain in June but are still down for the year
• Olympia Capital Markets founder, Circle T manager form long/short fund
• Black River launches $200 million emerging markets fund
• Magnetar, looking to rebuild assets, seeks marketing executive
• The Allocator: Chris Ailman of California State Teachers' Retirement System
• Paulson suffers $2 billion slump in assets
• Morgan Creek’s Yusko added to lineup for 7th annual AR Symposium
• MFA disputes New York hedge fund tax in letter to Governor
• Stark drops in May, loses five principals
• Three quarters of funds fell in May
• Scottwood suffers worst month ever
• Former Passport portfolio manager sets up fund
• New funds update: July 2010
• Avenue Capital’s fund of funds dips in May
• Balyasny creates new share-class, loosens terms

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• 
  Europe's woes fall on emerging markets

  Troubles on the Continent have led EM debt funds to cut risk.

• Euro trashing

  With all the political maneuvering, traders say shorting the euro is the safest bet.

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  A new era in arbitrage

  Though last year's easy trades are gone, clever managers are still finding ways to play the capital structure game.

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  Taking stock of the Goldman scandal

  Few hedge funds are willing to bet against the Teflon firm, but not many are going long, either.

Absolute Return Indices June 2010

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