Overall, the Lyxor Hedge Fund index is down 1.2% during the period under review, while the S&P 500 is down almost 2%. The sophisticated risk management practices of hedge funds are now being tested. Some funds are actually doing well in the current environment.

Debtwire hosts its seventh European forum at the Dorchester in London today. Senior bankers, lawyers, investors, financial sponsors, corporate finance and debt advisory specialists will provide their insight on the current state of the debt market, spanning from primary lending, secondary trading and distressed and restructuring opportunities.

IM Square is an innovative project in Europe offering a new and complementary approach to asset management by combining financial and industrial partnerships. The objective is to create a virtuous ecosystem bringing together entrepreneurial asset management companies, distributors and global investors.

The California Public Employees' Retirement System (CalPERS) today announced that it will eliminate its hedge fund program, known internally as the Absolute Return Strategies (ARS) program, as part of an ongoing effort to reduce complexity and costs in its investment program.

Nomura Asset Management Co., Ltd. announced that it has entered into an alliance agreement with Bridge Capital Asset Management Co., Ltd. (Bridge Capital), an investment manager specializing in incubation funds investing in hedge funds.