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Wednesday, October 9, 2024
General News |
Morgan Stanley Investment Asia Head Blair Pickerell to Leave at end June | Jun 24/10 |
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Blair Pickerell, Morgan Stanley
Investment Management’s Asia head, will leave the sixth-largest
U.S. bank by assets at the end of this month to pursue other
opportunities, said a company spokesman.
The resignation of Hong Kon...Read more |
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Senate Dems eye easing Volcker rule's fund limits | Jun 24/10 |
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The Senate was
moving on Wednesday to water down the controversial "Volcker rule" on
bank trading and investing as lawmakers raced to complete landmark Wall
Street reform legislation within days.
In a potential ...Read more |
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Shareholder Activist Update: JANA Partners and Neuberger Berman against Charles River acquisition | Jun 24/10 |
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Last week, activist investor JANA
Partners sent a letter to Charles River Laboratories International
(NYSE: CRL) highlighting the 35% of shareholders who are opposed to
Charles River’s acquisition of a Chinese pharmaceutica...Read more |
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Bankrupt BP - Worse for the Financial World than Lehman Brothers? | Jun 24/10 |
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The BP crisis in the Gulf of Mexico has rightfully been analysed
(mostly) from the ecological perspective. People’s lives and livelihoods
are in grave danger. But that focus has equally masked something very
serious from a f...Read more |
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Canada’s recovery proceeding faster than expected: BoC deputy | Jun 23/10 |
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Timothy Lane, deputy governor of the Bank of Canada,
highlighted the risks posed by sovereign debt concerns and global
imbalances in a speech Tuesday.Speaking to the Winnipeg CFA
Society, Lane focused on a couple of the risk...Read more |
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Nasdaq OMX introduces two Sharia-compliant indices | Jun 23/10 |
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The Nasdaq OMX Group, Inc. (Nasdaq:NDAQ) Tuesday
announced the introduction today of two new Sharia-compliant indexes
based the Nasdaq-100 Index (Nasdaq:NDX) and the OMX Stockholm Benchmark
Index (OMXSB).The new Nasdaq-100 S...Read more |
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Emerging markets drive increase in high net worth investors: study | Jun 23/10 |
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Despite weakness in the global economy, the world’s
population of high net worth investors returned to the 10 million mark
in 2009, according to the latest annual report on this segment by
Merrill Lynch Global Wealth Managem...Read more |
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Inflows steady Polar assets in choppy markets | Jun 23/10 |
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Hedge fund firm Polar Capital
(POLR.L)
said client inflows helped steady its assets in recent
choppy markets, adding volatility could continue as it reported
full-year profit at the top end of expectations. Polar's assets und...Read more |
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Reputations Don't Return When Prosecutors Drop Charges | Jun 23/10 |
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David Pinkerton had just left his 8-
year-old twins at his in-laws’ home in Morristown,
New Jersey,
when he learned he was no longer a suspected felon.
Pinkerton’s lawyer called to say that the U.S. prosecutors
who had char...Read more |
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Asia Millionaires Match Europe for First Time, Merrill Says | Jun 23/10 |
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Asia-Pacific’s number of
millionaires equaled Europe’s for the first time last year as
the region powered the global economy’s recovery, according to a
report by Capgemini SA and Merrill Lynch & Co.
The number of individu...Read more |
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Volcker Rule Under Attack as Lawmakers Seek Hedge Fund Loophole | Jun 23/10 |
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Senate negotiators will probably
offer changes today that would soften the Volcker rule by
allowing banks to sponsor hedge funds and invest their own
money, within limits, alongside that of clients.
The compromise, designed t...Read more |
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BNY Mellon launches clearing company | Jun 23/10 |
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BNY Mellon has created BNY Mellon Clearing to clear futures and
derivatives trades for institutional clients.
The company is a US registered futures commission merchant
and a member of the US National Futur...Read more |
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Funds of funds finding UCITS to their liking | Jun 23/10 |
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Just over a year ago, Italian hedge fund specialist Kairos Partners
became the first investment manager to launch a fund of funds entirely
dedicated to UCITS hedge funds. It was a brave move for the Milan-based
business, con...Read more |
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ING strengthens Hedge Fund focus and launches Synthetic Portfolio Solutions | Jun 23/10 |
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ING’s Global Securities Finance (GSF) team has
hired Colin Bugler to head its new Synthetic Portfolio Solutions (SPS)
team, reporting to Richard Pryce, Head of Equity Lending & Repo.
The creation of the new SPS team,...Read more |
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Fake Sydney office part of alleged US Gryphon scam | Jun 23/10 |
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WITH slick promotional materials
boasting a global network of offices in Sydney, London, Chicago and Wall
Street plus a glowing endorsement from billionaire hedge fund guru
George Soros, financial advisory company Gryphon Ho...Read more |
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Alternative investments gain appeal among institutional investors | Jun 22/10 |
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Institutional investors around the world view alternative
investments as an effective way to diversify their portfolios, and plan
to boost their exposure to these investments in the years ahead,
according to Russell Investme...Read more |
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Arrow Hedge Partners Inc. hires Brian Kremer | Jun 22/10 |
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Arrow Hedge Partners Inc. has hired Brian Kremer as
managing director of sales, the company announced on Friday.Kremer
joins John Graham in sharing the responsibility for developing and
servicing investment advisors in the O...Read more |
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U.S. banking regulators issue final guidance on incentive compensation | Jun 22/10 |
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U.S. banking regulators have issued final guidance on how
financial firms should be structuring compensation to avoid incentives
to take excessive risks, noting that there’s more work to be done by the
industry.The U.S. Fede...Read more |
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Household balance sheets present key risk to financial system: BoC | Jun 22/10 |
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Overall risks to financial stability have risen over the
past six months, according to the Bank of Canada.In the latest
version of its Financial System Review, the Bank examines five key risk
areas, and finds that risk has o...Read more |
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Ex-Citi trader Hall raises $1 bln for hedge fund | Jun 22/10 |
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Former Citigroup trader Andrew
Hall, who became a lightning rod for criticism over excessive Wall
Street bonuses last year, has raised $1.08 billion for an offshore
commodities hedge fund. The
Westport, Connecticut-based fund...Read more |
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Brazil Bets on 4% Borrowing Costs Under Next President as Spending to Ease | Jun 22/10 |
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Brazil is aiming to cut inflation-
adjusted borrowing costs to 4 percent under the next president,
less than half the level in 2006, as the economy expands and the
government reins in spending.
The country’s real interest rat...Read more |
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SRM’s Countrywide Lawsuit Tossed | Jun 22/10 |
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Hedge fund SRM Global has lost its bid to recoup the crippling losses
it suffered investing in subprime mortgage lender Countrywide Financial
Corp.
A federal judge in Manhattan dismissed the British hedge fund’s
lawsuit aga...Read more |
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Amherst Securities Group Hires John Caputo as Primary CMBS Trader | Jun 22/10 |
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Amherst Securities Group, L.P., a leading financial services provider toinstitutional investors in the mortgage sector, announced today that John Caputohas joined the company as its primary commercial mortgage-backed securities(CM...Read more |
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Landry's says Pershing Square to vote for buyout | Jun 22/10 |
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Landry's Restaurants Inc (LNY.N)
said
hedge fund Pershing Square Capital Management agreed to vote in
favor of a buyout by Chief Executive Tilman Fertitta, after
Fertitta further raised his offer to take the company private. ...Read more |
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Citigroup Looking Past Volcker May Seek $3 Billion for Funds | Jun 21/10 |
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Citigroup Inc. plans to raise
more
than $3 billion for its private-equity and hedge funds, even as
U.S. lawmakers consider banning banks from owning and investing
in so-called alternative funds, people with direct knowledge o...Read more |
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Kerkorian's Ex-Dealmaker Seeks Casinos With $4.3 Billion Onex Buyout Fund | Jun 21/10 |
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Alex Yemenidjian, the former
dealmaker for billionaire Kirk Kerkorian, is hunting for more
casino acquisitions after buying the Tropicana Las Vegas Hotel &
Casino out of bankruptcy.
Yemenidjian, one-time president of casi...Read more |
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T2 Partners sees value in BP shares-Barron's | Jun 21/10 |
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Hedge fund T2
Partners said
it likes shares of BP Plc (BP.L)
despite the Gulf of Mexico oil
spill that has tainted the British company and its stock,
according to a Barron's article published on Sunday.
In a column tit...Read more |
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Jupiter sharply higher on market debut | Jun 21/10 |
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British fund manager Jupiter
JUP.L returned to the London stock exchange on Monday, riding
buoyant markets to debut 15 percent over the price set in an
initial public offer (IPO) last week.
Jupiter raised 220 million pounds (...Read more |
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Zachary Karabell's River Twice Capital launches flagship hedge fund | Jun 21/10 |
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River Twice Capital Advisors LLC launched its flagship hedge fund, the
River Twice Fund, this month with $8.4 million in assets under
management. The new hedge fund management firm was founded by Zachary
Karabell earlier th...Read more |
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Jim Chanos’ Kynikos Associates is shorting a Major Oil Company | Jun 21/10 |
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Bloomberg
TV got famed short seller, Jim Chanos, to talk
Big Oil today. He said that he’s not short B.P., but that there is
another well known oil company who he thinks is playing fast and loose
with their cash flow and di...Read more |
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Liquidity risk measurement a core concern for asset managers: RBC Dexia | Jun 18/10 |
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RBC Dexia has released a new report on how to accurately
measure liquidity risk in response to calls for greater transparency and
increased disclosure from investors.The new report. released in
partnership with RiskMetrics G...Read more |
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Sceptre Investment reports lower Q2 profit on merger costs | Jun 18/10 |
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Sceptre Investment Counsel Ltd. (TSX:SZ) reported a drop
in second-quarter profit compared with a year ago, weighed down by costs
related the money manager’s merger with Fiera Capital Inc.Sceptre
said Thursday it earned $351...Read more |
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UK’s Financial Services Authority undermined by financial crisis | Jun 18/10 |
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The UK’s new government has decided to dismantle the
Financial Services Authority in an effort to better monitor risk in the
financial system, but the move is not without risks of its own.On
Thursday, the new chancellor of t...Read more |
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Hedge veteran eyes commodity play in forex crisis | Jun 18/10 |
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Veteran hedge fund manager Bill
Browder is buying commodities and the companies that produce
them in emerging markets to profit from what he said is a
looming crisis in the world's major currencies. He believes that burgeoning ...Read more |
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Japanese Teachers' Fund Is Considering Investing in REITs to Hedge Risks | Jun 18/10 |
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Japan’s Teachers’
Mutual Aid Co-
operative Society, which manages $7 billion on behalf of its
members, may invest in real estate investment trusts for the
first time to hedge risks.
The 45-year-old organization is re-evalua...Read more |
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Emerging Bond, Equity Fund Flows Jump as Risk Appetite Revives, EPFR Says | Jun 18/10 |
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Emerging-market equity and bond
funds received net inflows in the week to June 16 as investor
appetite for risk revived after concerns eased about the impact
of Europe’s debt crisis, EPFR Global said.
Emerging equities funds ...Read more |
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Man-GLG deal signals start of hedge fund M&A wave | Jun 18/10 |
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Thousands of smaller funds, which have seen
little of the industry's $30 billion or more of inflows since last
summer and which are more reliant on generating good performance to earn
fees, are under most pressure to join fo...Read more |
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Hedge funds attract over $5bn inflows in May but performance losses cancel out gains | Jun 18/10 |
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Investor allocations to hedge funds reached $5.44 billion in May
2010 but were offset by performance-based losses of $16.68 billion,
according to Eurekahedge.
The Eurekahedge Hedge Fund Index was down 2.33%...Read more |
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Canada to lead G7 growth in next two years, but global recovery troubled: Carney | Jun 17/10 |
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Canada’s strong recovery is increasingly being put at
risk from mounting debt problems confronting most of the industrialized
world, Bank of Canada governor Mark Carney warns.In a speech and
news conference in Charlottetow...Read more |
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Fiera Capital to merge with Sceptre Investment Counsel in $84 million deal | Jun 17/10 |
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Sceptre Investment Counsel Ltd (TSX:SZ) and Fiera Capital
Inc. have signed a definitive agreement to merge the two companies into
a bigger money manager with $30 billion in assets under management.The
new investment firm wil...Read more |
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Magna CFO says regulator shouldn’t deny shareholders chance to vote on stock restructuring | Jun 17/10 |
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A senior executive at Magna International Inc. says the
company will work with the Ontario regulator to address concerns about a
proposal to eliminate the special class of stock that gives the
founding Stronach family voti...Read more |
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FAIR Canada calls on OSC to quash Magna share proposal | Jun 17/10 |
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Investor advocate FAIR Canada is calling on securities
regulators to cease trade a transaction proposed by Magna International
Inc., and for a policy review of dual class share structures generally.FAIR
announced Tuesday tha...Read more |
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Hedge funds rely less on the rich - survey | Jun 17/10 |
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Hedge funds receive nearly
three-quarters of their capital from institutional investors,
according to a survey released on Wednesday that shows how
these portfolios are no longer reserved for the rich but are
investing nest eg...Read more |
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Lazard Asset Management and Matrix Group partner to launch Opportunities Fund | Jun 17/10 |
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Multi-strategy asset manager Matrix Group has launched the Matrix Lazard
Opportunities Fund, its second UCITS III fund. According to Matrix, the
new UCITS fund will invest using convertible arbitrage and special
situations/e...Read more |
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Goldman most exposed to regulatory reforms: Citigroup | Jun 17/10 |
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The proposed U.S.
financial reforms will hurt Goldman Sachs Group the most, followed by
Morgan Stanley, J.P. Morgan Chase and Bank of America, analysts at
Citigroup said.
The Volcker rule and the over-the-counter
deriv...Read more |
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Cowen To Close Two Ramius Hedge Funds | Jun 17/10 |
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Cowen Group has decided to shutter two of Ramius Capital’s
multi-strategy hedge funds in the wake of continuing redemptions.
The firm—created by the merger of Ramius and boutique investment bank
Cowen last year—plans to offer...Read more |
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Canadian investors have diversified their portfolios among more dealers: study | Jun 16/10 |
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Investor satisfaction has increased considerably from
2009 as the market recovers, but investors are taking a more cautious
approach by diversifying their portfolios among more investment firms,
according to a study released...Read more |
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Quebec, Alberta say proposed national securities regulator would cause market havoc | Jun 16/10 |
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Federal efforts to form a national securities regulator
will lead to confusion and turmoil in Canada’s financial markets instead
of helping them, Quebec and Alberta warned Tuesday.The
provinces called a news conference to ar...Read more |
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EU parliament calls for tougher rules on derivatives trading | Jun 16/10 |
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European parliamentarians are looking to reign in
derivatives trading, calling for a tougher line against speculators. According
to a resolution adopted by the parliament Tuesday, proposed new
European rules on derivatives t...Read more |
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OSC urged to tackle corporate social disclosure: report | Jun 16/10 |
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A report to Ontario’s Minister of Finance calls on the
Ontario Securities Commission to begin pushing companies for improved
disclosure of their social practices.The report, produced by the
Hennick Centre for Business and La...Read more |
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