Hutchin Hill Beaches The London Whale, Now Buys CDS on MS and BAC

      Hutchin Hill, an alternative asset manager  gained recent fame from its trades against JPMorgan Chase & Co. (NYSE:JPM) “London Whale.” The fund has some interesting new positions according to people familiar with the matter. Hutchin Hill was founded in July 2008. The fund has about $1.16 billion in assets under management and follows a diversified strategy. Since inception the flagship hedge fund fund has returned more than 37%. In 2011 the fund lost 4.92% of its value, but so far this year it has returned 2.15%. For May, the fund was up 0.60%. The fund is up…