{"id":17368,"date":"2010-08-24T07:16:49","date_gmt":"2010-08-24T11:16:49","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=17368"},"modified":"2010-08-24T07:16:49","modified_gmt":"2010-08-24T11:16:49","slug":"hedgebay-secondary-hedge-fund-market-drops-3-in-august","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2010\/hedgebay-secondary-hedge-fund-market-drops-3-in-august.html","title":{"rendered":"HedgeBay: Secondary Hedge Fund Market Drops 3% in August"},"content":{"rendered":"<p>New York (HedgeCo.net) &#8211; Hedgebay\u2019s monthly secondary market index continued its general trend of recent months, with near-par trading, deals at around 100% of NAV, once again in short supply. This trend is being driven by the scarcity of locked up funds on the secondary market since the credit crisis hit.<\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/08\/hhimages.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-17369\" title=\"hedge images\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/08\/hhimages.jpg\" alt=\"\" width=\"230\" height=\"269\" \/><\/a>\u201cFunds that are closed to new investment are still an extreme rarity at  present.&#8221; Elias Tueta, co-founder of Hedgebay, said, &#8221; We will  eventually see funds close to new investors if good performance on the  primary market continues, and when we do, we will see the secondary  market once again being used for its original intention \u2013 to allow hedge  fund investors to access high performing funds that have closed to  investors. Currently, secondary market users are focussed on risk  mitigation and capital raising, and this has kept the average price at a  relatively low level.\u201d<\/p>\n<p>Trading continues to centre around shares in gated or suspended funds, as represented by Hedgebay Illiquid Asset Index. Average trading on the IAI rose to 67% in July, the highest average recorded in nearly a year.<\/p>\n<p>\u201cWe are currently at an important juncture for the market. In the last few months we have seen inflows and performance in the hedge fund industry suggest that investors have confidence in hedge funds once again. However, we have also seen crises in global markets, the Greek debt crisis being a prime example, which hedge funds have not been immune to. If performance can exceed interest rates and equity returns over the coming months then we will see demand for hedge funds grow, and this will make the re-emergence of locked up funds distinctly possible. However, if markets suffer another downturn, we may see the cycle begin again, as investors try to recover their money. It will certainly be interesting to see which way the market goes.&#8221; Tueta concluded.<\/p>\n<p>Editing by Alex Akesson<br \/>\n<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; Hedgebay\u2019s monthly secondary market index continued its general trend of recent months, with near-par trading, deals at around 100% of NAV, once again in short supply. This trend is being driven by the scarcity of locked [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[919,3],"tags":[],"class_list":["post-17368","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-research","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=17368"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17368\/revisions"}],"predecessor-version":[{"id":17371,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17368\/revisions\/17371"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=17368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=17368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=17368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}