A pair of major New York hedge funds bucked swooning markets and the marginal losses suffered by its average peers with positive performance last month.

Greenlight Capital and Och-Ziff Capital Management both padded their year-to-date returns in August, although the former did so much more than the latter. Greenlight rose 4.1% net of fees.

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Assets under management aren’t the only things fleeing Gartmore Group.

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Bank of New York Mellon has made its first foray into the Canadian advisory space with the acquisition of hedge fund and wealth adviser I(3) Advisors.

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The financial crisis has taken its toll on Vanity Fair’s annual “New Establishment” rankings. And the list of the 100 most influential people is especially light on alternative investment honchos.

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Hedge fund administrator JD Clark & Co. and its parent, UMB Fund Services, have a lot to crow about. The firm said it enjoyed a “surge” in new clients in the first half, and has added more than 50 new employees to help serve them.

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Collard Capital Management yesterday launched a discretionary macro fund designed to offer investors a highly-liquid approach to the strategy.

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Hedge fund veteran Colin Fenton has joined JPMorgan Chase to head its global commodities strategy.

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The freshwater eel, which spawns in the middle of the ocean, was once abundant in much of the world. But the proliferation of dams, coastal development, and overfishing have drastically reduced eel populations, with few defenders coming to the aid of these fascinating — though still not fully understood — creatures. BY JAMES PROSEK

Chinese regulators in July eased restrictions on asset managers’ trading of index futures, giving the green light to launch separately-managed account products aimed at high-net-worth investors. The first firm to walk through that new door will be E Fund Management, which plans to launch China’s first officially-registered hedge fund.

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Two former Mizuho Securities proprietary traders and Japan hedge fund veterans have launched a hedge fund of their own.

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On the day its acquisition of GLG Partners was approved by shareholders, the Man Group named GLG’s Emmanuel Roman as chief operating officer.

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Brazil’s National Institute for Space Research reported that deforestation in the Brazilian Amazon declined 48 percent in the past year, falling from 1,689 square miles to 886 square miles for the 12-month period ending July 31. A Brazilian conservation group, Imazon, issued a more conservative estimate, saying deforestation declined by 16 percent, falling from 682 square miles to 575 square miles for the same period. The large discrepancy is because the space agency uses visual interpretation by analysts of satellite pictures, while Imazon uses an automatic deforestation detection method based on satellite photos. Both track the “deforestation year” ending on July 31, when cloud cover is minimal. The government said stricter enforcement of environmental laws contributed to the drop in deforestation, while environmental groups said it was a temporary decline related to the global recession. The continuing threat of deforestation in the Amazon and surrounding regions was highlighted by the release of a NASA satellite photo showing a 1,500-mile pall of smoke hovering over central South America, particularly in Bolivia. Most of the estimated 150,000 fires were set by people clearing forest for grazing and agriculture.

August was a boon for at least some hedge funds, even as the broader market swooned in the late-summer heat.

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It may be the King (it’s the second-largest U.S. hamburger chain, actually), but Burger King has been doing some homage in recent weeks.

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JPMorgan Chase will shutter its proprietary-trading desk and has notified those desks’ employees that their jobs are being cut.

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Elliott Management has dropped its bid to force an industry magazine to divulge the source of its June 30 investor letter.

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Victims of hedge fund fraudster Arthur Nadel’s $400 million Ponzi scheme have until tomorrow to file a claim for restitution.

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Commodities hedge fund shop Galtere is getting into the private equity business with a new fund that invests in industrial commodity production.

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Investment-trust-cum-hedge-fund-seeder Majedie Investments has launched a second fund management firm to manage its own assets.

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Hedge Funds Care announced today that its Third Annual East Coast Golf Tournament was its most successful golf outing ever, raising over $170,000 for the charity's cause—the help prevent and treat child abuse.

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