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Hedge Fund News: T. Boone Pickens, Alan Howard, Herbalife Ltd. (HLF)

…Appaloosa Management, AQR Capital Management, Elliott Management, Icahn Enterprises, Kohlberg Kravis Roberts, SAC Capital Advisors, Tiger Global Management and Tudor Investment Corp. The three organizations cited as opposed to defined-benefit plans are the Manhattan Institute, the Show-Me Institute and StudentsFirst.

Solaise doubles assets as clients eye smaller hedge funds (Reuters)
Solaise Capital, set up in late 2010 by former employees of Winton, Man Group’s flagship AHL fund and Aspect Capital, told Reuters that inflows from a pension fund client in December and further inflows this year have lifted its assets to around $165 million. That compares with the $86 million it ran at the end of November. Meanwhile Man Group has seen assets at its AHL computer-driven investment fund fall to $14.4 billion at the end of last year from $21 billion a year before, while Winton Capital, one of the world’s biggest funds, has also seen outflows.

Ken Heebner’s Capital Growth Management’s Small Cap Picks Include Herbalife Ltd. (HLF) (Insider Monkey)
Herbalife Ltd. (NYSE:HLF)Here are the five largest small cap holdings from Ken Heebner’s Capital Growth Management as of the end of December. The fund increased the size of its position in Herbalife Ltd. (NYSE:HLF) by 41% to a total of 3.4 million shares. Herbalife Ltd. has been quite volatile the past few months after billionaire Bill Ackman of Pershing Square accused the company of being a pyramid scheme and announced a large short position. The company does have very attractive value metrics- for example, the trailing earnings multiple is only 9- and has been experiencing decent growth in both revenue and earnings. Herbalife Ltd. (NYSE:HLF) also currently pays a dividend yield of over 3%.

Stenham Launches Credit, Healthcares Funds Of Funds (FINalternatives)
Stenham Asset Management has launched a pair of funds of hedge funds, focused on credit and healthcare. The two vehicles debuted on Jan. 1 and have produced positive returns on the year, Stenham said. The Credit Opportunities Fund is up 3.44% and the Healthcare Fund 7.48%. Tim Beck is the manager of the Credit Opportunities Fund, which will invest in between six and 10 underlying managers. It targets annualized returns of between 8% and 12%.

Hedge Fund ETFs Head-To-Head: QAI vs. MCRO (ETF Database)
While passive, index-based funds continue to reign supreme in terms of assets under management, investors have also started to tap into alternative asset classes available within the ETF universe in search of uncorrelated returns. Despite financial media headlines, hedge funds don’t necessarily strive to generate eye-popping absolute returns; instead, most hedge funds are designed to hedge, dampening volatility and providing diversification benefits to traditional stock-bond portfolios. Among the hedge fund ETFs available, the IQ Hedge Multi-Strategy Tracker (ETF) (NYSEARCA:QAI) and the IQ Hedge Macro Tracker ETF (NYSEARCA:MCRO) separate themselves by being the biggest funds in the space, boasting $375 million and $62 million in total assets, respectively, under management.

Rob Arnott: Most hedge funds disappoint (Fortune)
Hedge funds have been a bust. That’s how Robert Arnott, one of the nation’s most successful investment managers, sees it. That’s also the conclusion of a piece of research posted on his firm’s website this week. The research, which is titled “The Lure of Hedge Funds,” directly refutes one of the key claims hedge funds managers make when they try to attract investors. “There are some outstanding hedge funds, but they are considerably outnumbered by the multitudes of lousy ones,” says Arnott, who heads Research Affiliates.

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