Europe's largest hedge-fund manager has set up two Mauritius-based vehicles as a way for its flagship global-macro fund to invest in India, underscoring the growing interest in the region. London-based Brevan Howard Asset Management LLP, which manages $24 billion, said in a stock-exchange filing late last week that it had created two funds in Mauritius to hold Indian investments for its flagship Brevan Howard Master Fund. That $15 billion fund pursues a freewheeling global macro strategy, investing in instruments its managers expect to be influenced by global economic themes. A spokesman said Mauritius funds are a standard way to invest in India for those who want to keep assets offshore.   more »

As individual hedge funds recover in the first half of 2009, hedge fund of funds are still suffering heavy redemptions. A recent study of the top 50 hedge funds of funds found all but two funds have not recovered from the drop in assets since September 2008. Assets in hedge funds of funds fell from a spike of $825 billion to just $530 billion in June. This is a staggering loss for the hedge fund of fund industry which has increased at a rate of more than 20 percent annually from 2000-2008.   more »