Some funds are benefiting from the turbulent markets

Volatility funds are doing well.

Janus Fund of Funds

Janus launched an alternative fund of funds called the Janus Adviser Modular Portfolio Construction Fund (JSMPX). It will be separated into three categories: alpha, alternative & core. The holdings will include Janus Funds, ETFs and derivatives.

Hedge Fund Assets

The total assets managed by hedge funds is now at $1.7 trillion with JPMorgan holding the top spot with $48.1 billion.

Indonesian ETF

Van Eck is looking to add another emerging market ETF to their stable. They have filed for an ETF that tracks the Indonesian markets. Their current international lineup consists of Africa (AFK), Gulf States (MES) & Russia (RSX).

Hedge Fund Index Returns

Allaboutalpha had a good article on the different returns from Hedge Fund Index Providers.

Feds Takeover Fannie & Freedie

This isn't a huge surprise. The government is taking control of Fannie Mac & Freddie Mae until they can manage themselves. Paulson & FHFA Director James Lockhart have decided to put them into a conservatorship run by the Federal Houseing Finance Agency.

Global Hard Assets ETF

Looks like Van Eck is the first on the scene with a global hard assets ETF.