General News

	New York Hedge-Fund Manager Tax Plan to Raise $50 Million Is Overturned	Aug 04/10
	New York lawmakers unanimously repealed a measure to raise $50 million a year by taxing hedge- fund managers who commute into the state, Governor David Paterson said. The plan led Governor Jodi Rell of neighboring ...Read more
	Reversal of fortune as Falcone's hedge fund drops	Aug 03/10
	In the span of seven months, hedge fund manager Philip Falcone has gone from being one of the industry's better performers to one of its worst, according to new industry data. The market tumult of May and June put a dent ...Read more
	Banking system on verge of new crisis, hedge fund Noster Capital warns	Aug 03/10
	The banking system could be on the brink of another crisis, according to one hedge fund manager who has taken a series of short positions against some of Europe's largest financial institutions. London...Read more
	Top Hedge Funds That Dodged Crash, Rode Market Back Turn Gloomy	Aug 03/10
	Shawn Bergerson, founder of Waterstone Capital Management LP, made money when most hedge funds didn’t: in 2007 and 2008, as the housing-market collapse turned into a global financial rout, and in the recovery that has foll...Read more
	SEC’s New Powers Affect Hedge Fund and Private Equity Advisors	Jul 30/10
	Alternative investment advisors who have business in the U.S. or, in some instances, even tangential relationships with U.S. investors will be required to register with the Securities and Exchange Commission (SEC) unde...Read more
	UK hedge funds to be hit by EU capital requirements directive	Jul 30/10
	UK hedge funds will be affected by the European Union’s capital requirements directive (CRD3), the UK Financial Services Authority (FSA) has confirmed. The FSA now plans to update its Remuneration Code to take on board the n...Read more
	Hedge funds leverage rising through repo and falling through prime brokers	Jul 30/10
	Hedge funds are using more leverage, reflecting an increase in risk appetite, and are further diversifing credit exposures to bank counterparties, says a UK Financial Services Authority (FSA) report. Funds are borro...Read more
	Paul Greenwood, WG Trading Hedge Fund Manager, Pleads Guilty to Fraud	Jul 29/10
	Hedge fund manager Paul Greenwood, the general partner of WG Trading Co., pleaded guilty to six charges including conspiracy and securities fraud and is cooperating with the U.S. against co-defendant Steven Wals...Read more
	Singapore's New Hedge-Fund Regulation Puts City `Back on Map'	Jul 29/10
	Singapore hedge fund startups are on the rise after the central bank approved new rules that didn’t impose a licensing requirement on most funds. Seven new hedge funds set up in May and June, according to Eurekahedge Pte, a...Read more
	Long Short Ratio exposes global decline in negative sentiment	Jul 29/10
	The recently launched Long Short Ratio from Data Explorers is at a two-year high, indicating short sellers are now taking money off the table, according to Will Duff Gordon. The Long Short Ratio is a set of analytics enabling...Read more
	LIONS CAPITAL ACQUIRES VISTRA CAPITAL MANAGEMENT	Jul 29/10
	Vancouver (July 20, 2010) – Lions Capital Corp. announced today that it has acquired a majority interest in Vistra Capital Management Ltd., fund manager of the Vistra Fund, and has renamed the company Lions Investment Manageme...Read more
	LinkedIn Value Tops $2 Billion After Tiger Global Investment	Jul 28/10
	Tiger Global Management LLC, a hedge fund founded by Chase Coleman, paid $20 million for a stake in LinkedIn Corp., valuing the professional-networking website at more than $2 billion, said two people familiar with the matt...Read more
	Rajaratnam Accuses Prosecutors of Misleading Judges Who Allowed Wiretaps	Jul 28/10
	Galleon Group LLC co-founder Raj Rajaratnam’s attorney said prosecutors misled the judges who authorized secret wiretaps that form the basis of a federal insider-trading probe. Before arresting Rajaratnam last year...Read more
	Superfund Aims to Raise $100 Million for New Japan Retail Hedge Fund	Jul 28/10
	Superfund, which oversees $1.2 billion in managed futures funds, aims to raise $100 million within a year for a new hedge fund targeting Japanese retail investors. The Superfund Blue Japan, which invests in global eq...Read more
	George Soros set to buy 4% stake in Bombay Stock Exchange: Report	Jul 28/10
	Billionaire financier George Soros is in late stage talks to buy a 4 percent stake in the Bombay Stock Exchange (BSE) as foreign interest in India's financial markets grows, the Financial Times reported on Wednesday. Cit...Read more
	Jim Rogers predicts a new recession in 2012	Jul 28/10
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	SEC now freer to hike whistleblower awards	Jul 27/10
	With powerful senators watching closely, federal investigators search high and low for evidence of insider trading in shares of Microsoft. One of Wall Street's best-known hedge fund managers is targeted, but the feds can't ...Read more
	City pleased with Aberdeen Asset Management's success in emerging markets	Jul 27/10
	ABERDEEN Asset Management pleased the market with tripled net inflows of client money in the three months to end-June as freshening interest in emerging market equities offset exits from bond, property and money market ...Read more
	Pillsbury warns hedge funds about ETF ownership limits	Jul 27/10
	Law firm Pillsbury says hedge funds should be aware that substantially increasing their long positions in exchange-traded funds could result in a violation of the ownership limit set forth in the Investment Company Act of ...Read more
	US hedge fund Glenview Capital rebuilds Punch Taverns stake	Jul 26/10
	The fund, led by Larry Robbins, increased its voting rights to 13pc, comprised of 2pc in shares and 11pc in financial instruments. Glenview raised its interest above 10pc last Friday. The hedge fund acquired 17pc o...Read more
	Beazley Plans to Increase Hedge-Fund Assets as Investment Returns Decline	Jul 23/10
	Beazley Plc, a Lloyd’s of London insurer, plans to increase its hedge-fund holdings as record-low interest rates squeeze investment returns. Beazley will raise the proportion of its assets invested in hedge funds to ...Read more
	Falcone's Harbinger Is Said to Have Lost 10% Last Month in Illiquid Fund	Jul 23/10
	Harbinger Capital Partners LLC, the hedge-fund firm run by billionaire Philip A. Falcone, lost about 10 percent last month in a pool of hard-to-sell assets that it’s divesting for clients, according to two investors. The s...Read more
	Q&A: Hedge and Private Equity Funds Under Financial Reform Law	Jul 23/10
	The financial reform law signed into law by President Barack Obama on July 21 targets a sector that has previously escaped vigorous government scrutiny -- hedge funds and private equity funds. The Private Fund Investment Advis...Read more
	The Hedge Fund Registration Act Ensnares Non-US Funds	Jul 23/10
	Up to now overseas-based investment advisors to offshore hedge funds did not have to register with the SEC. It used to be that the American system of fund regulation was based on regulating the products that were sold,...Read more
	New York City Pensions Consider First Hedge-Fund Investments	Jul 22/10
	New York City’s pensions funds for police officers, firefighters and civil employees are seeking proposals from hedge fund consultants as they weigh whether to invest in the loosely regulated investment pools. The three funds...Read more
	Credit Suisse launches its first fund of Newcits funds	Jul 22/10
	Swiss banking giant Credit Suisse has become the latest entrant into the rapidly expanding Newcits market with the launch of its first Ucits III-compliant fund of hedge funds. The Luxembourg-domiciled Credit Suisse Solutions ...Read more
	Finnowave Hedge Fund Aims to Quadruple Assets by Luring Japan's Pensions	Jul 22/10
	Finnowave Investments, a Japanese hedge-fund firm, aims to quadruple assets to 100 billion yen ($1.2 billion) in about two years after it won a license to manage funds, making it easier to lure local pension money. F...Read more
	Madoff Trustee Seeks $3.6 Billion From Hedge Fund	Jul 22/10
	The trustee trying to recover money to repay investors who lost billions of dollars in Bernard L. Madoff’s Ponzi scheme is seeking $3.6 billion from a hedge fund firm and individuals that he says enabled Mr. Madoff to opera...Read more
	Hedge funds still attracting billions in new cash	Jul 21/10
	Hedge funds see $9.5 billion inflow in Q2 - HFR Macro, event driven funds show strong returns & inflows Hedge fund industry assets still slip to $1.65 trillion Hedge funds pulled in $9.5 billion during the s...Read more
	Hedge Funds’ Potential Threat Is Unclear, SEC’s Schapiro Says	Jul 21/10
	Federal regulators may find it difficult to determine whether hedge funds pose risks that could threaten the U.S. economy and what the government should do to rein in industry trading practices, Securities and Exchange Commiss...Read more
	Hedge funds get bloody nose despite $9.5bn of new cash	Jul 21/10
	The world's biggest hedge funds walked away with the lion's share of the industry's $9.5bn of net inflows despite a whipping from market volatility which hurt the sector in the second quarter of 2010. H...Read more
	Goldman denies links with global food crises	Jul 20/10
	Goldman Sachs has angrily defended itself against a public campaign that claims the bank is exacerbating global food crises through its commodity trading operations. The Wall Street bank has dismissed as &qu...Read more
	Einhorn Buys Apple, Saying in Letter That Growth Prospects Are Undervalued	Jul 20/10
	David Einhorn, the hedge-fund manager known for shorting Lehman Brothers Holdings Inc. before it collapsed, said he bought shares of Apple Inc. in the second quarter because the iPhone maker’s growth is underval...Read more
	Hedge Funds to Boost Use of Trading Algorithms for Stocks, Tabb Group Says	Jul 20/10
	Asset managers such as hedge funds will probably increase their use of computer programs known as algorithms to execute their stock trades in 2011, according to securities-industry research firm Tabb Group LLC. The prop...Read more
	UK hedge fund in £658m cocoa trade	Jul 19/10
	UK hedge fund Armajaro Holdings purchased £658m of cocoa on Friday, in a move which single-handedly moved the global cocoa market. Anthony Ward, co-founder of Armajaro, bought 241,000 tons of cocoa b...Read more
	Judge orders warring hedge fund couple to stop fighting as they will never be poor	Jul 19/10
	Beatrice Sareen, 54, has already been awarded more than £40 million following her divorce from Vipin Sareen, a hedge fund manager. She returned to the Court of Appeal in a bid to get a further £10million, which her f...Read more
	Hedge Funds Raise Bull Oil Bets Most Since 2007: Energy Markets	Jul 19/10
	Hedge funds and other large speculators raised bets that oil would gain by the most in more than three years just as it began to slide, the second straight week money managers lined up on the wrong side of the market. So-call...Read more
	Hedge funds accused of gambling with lives of the poorest as food prices soar	Jul 19/10
	• Commodity speculators push cocoa to 33-year high • Bets 'risk the most vulnerable in the world starving' Financial speculators have come under renewed fire from anti-poverty campaigners for their ...Read more
	Merlin Securities Expands Footprint To Canada	Jul 16/10
	Prime brokerage firm Merlin Securities is expanding its footprint with a push into Canada. The firm has recently hired Daniel Dorenbush as a partner and chief executive officer of the firm’s Canadian operation, wh...Read more
	Inflows lift Polar Capital assets to $2.6 bln	Jul 16/10
	* Assets up 2.5 pct to $2.6 bln over 3 months to June * Net inflows $319 mln * $257 mln hit from performance losses and currency Hedge fund firm Polar Capital (POLR.L) said client assets under management rose 2.5 percent ...Read more
	The trader's dream of running a hedge fund can turn into a nightmare	Jul 16/10
	It has occurred to me, in recent months, that this Telegraph gig, with its constant round of news meetings and strictly regulated editing processes, may be cramping my style – not to mention my earnings' potential. To be ...Read more
	Calpers Recoups Some of Its Record Losses	Jul 16/10
	The California Public Employees' Retirement System reported a preliminary 11.4% investment-performance gain for the fiscal year ended in June, following record prior-year losses in the wake of the financial crisis. The natio...Read more
	Implied Capital opens new fund to investors	Jul 15/10
	Implied Capital, a Boulder, Colorado-based hedge fund manager, has rolled out its maiden offering to outside investors. The Volatility Risk Premium Fund, which launched internally in November 2007, employs a market neutral fr...Read more
	Paulson & Co. sees small investor withdrawals in June	Jul 15/10
	Hedge fund giant's returns suffered in June as markets swooned, AR reports Paulson & Co., one of the world's largest hedge fund firms, got a little smaller in June. That was likely driven by investment losses rather than ...Read more
	Sprott Steps Down as Chief, Replaced by Grosskopf	Jul 15/10
	Eric Sprott, whose gold and resource-based hedge funds soared six-fold over nine years, is stepping down as chief executive officer of Sprott Inc. and will be replaced by Peter Grosskopf on Sept. 7. Sprott, 65, becomes chairm...Read more
	Liquid focus has paid off for Fohfs	Jul 15/10
	Fund of hedge funds that restrict investment to more liquid strategies such as long/short equity and global macro to improve liquidity have not suffered in performance terms, according to S&P Fund Services. The firm’s...Read more
	General Growth to Split in Two With Hedge Fund Help	Jul 14/10
	Mall owner General Growth Properties said it would split itself in two with the help of hedge fund firms’ investment as a way to restructure itself out of bankruptcy protection. The company said Monday it would become two ...Read more
	Confessions of an anonymous hedge fund manager	Jul 14/10
	Our colleagues over at Fins.com have interviewed the anonymous hedge fund manager of “Diary of a very bad year: confessions of an anonymous hedge fund manager” fame to bring you some insights into the sector [ http://b...Read more
	Hedge funds outperform stock indexes in first half	Jul 14/10
	Well, at least they're beating mutual funds. That's the mantra of a lot of hedge fund managers (hedge fund news) when performance takes a dip. Hennessee group said its Hedge Fund Index rose 0.2 percent in the first half of t...Read more
	Former LTCM trader surfaces at London-based hedge fund	Jul 13/10
	ONE of the survivors of Long-Term Capital Management (LTCM), the US hedge fund infamously bailed out by Wall Street in the late 1990s, has resurfaced at London-based Capula Investment Management.Ayman Hi...Read more