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Thursday, October 10, 2024
General News |
Man Group CEO rules out big deals after GLG buy | Jun 16/10 |
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Hedge fund firm Man Group Plc
(EMG.L)
is not looking for further big acquisitions after its
$1.6 billion purchase of GLG Partners (GLG.N)
last month, its
chief executives Peter Clarke told Reuters on Tuesday. "We're do...Read more |
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Camulos decision confirms existing winding up process for Cayman hedge funds | Jun 16/10 |
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The recent judgment of the Cayman Islands Court of Appeal in the
case of Camulos Partners Offshore Limited has been widely reported as
restricting the scope of the protection given to investors in
Ca...Read more |
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Energy investor exodus according to BAML survey | Jun 16/10 |
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Global fund managers have significantly reduced their exposure to
energy in the wake of the BP oil spill in the Gulf of Mexico, according
to a survey by Bank of America Merrill Lynch.
The report said global...Read more |
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$300 Million Ponzi Scheme ensnares investors with Gold Mining Scam | Jun 16/10 |
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The SEC has charged Milowe Allen Brost,
Gary Allen Sorenson and four other men with designing and perpetrating
an international Ponzi scheme that misled over 3,000 American and
Canadian investors. According to the SEC’s stat...Read more |
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OSC, AMF and SEC sign regulatory co-operation agreement | Jun 15/10 |
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Securities regulators from Ontario, Quebec and the United
States have signed a memorandum of understanding designed to bolster
cross-border supervision.The U.S. Securities and Exchange
Commission, Autorité des marchés financ...Read more |
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Quebec reaffirms opposition to national securities regulator | Jun 15/10 |
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Ahead of the meeting of finance ministers in PEI, Quebec
Finance Minister Raymond Bachand has called on the federal government to
halt work on a national securities regulator until the courts have
ruled on its constitutional...Read more |
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CFTC wants proximity-based advantages available to all | Jun 15/10 |
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U.S. derivatives regulators are proposing rules that
require exchanges that offer co-location services to provide equal
access to those services so that certain market players can't gain an
unfair advantage.The U.S. Commodit...Read more |
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BP Bankruptcy Would Be No Protection From Gulf Spill Costs | Jun 15/10 |
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BP Plc, whose potential
liability for
the Gulf of Mexico oil spill has lawmakers and analysts raising
the specter of bankruptcy, would be unlikely to avoid paying
claims by seeking court protection, restructuring experts said...Read more |
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Morgan Stanley's European Strategist Draaisma Leaves Bank for Hedge Fund | Jun 15/10 |
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Teun Draaisma, Morgan Stanley’s top-
ranked European equity strategist, is leaving the U.S. bank to
join hedge-fund manager TT International, according to a
spokesman for Morgan Stanley.
Graham Secker will head the bank’s Eur...Read more |
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‘Royalty’ Accused Of Hedge Fund Fraud | Jun 15/10 |
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A New York hedge fund manager who claimed royal ties has been
arrested and charged with defrauding investors of at least $6 million.
Guy Albert de Chimay was arrested Friday in North Carolina after he
was charged with grand l...Read more |
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The Most Popular and Most Shunned Funds of 2010 | Jun 15/10 |
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Investors might have been hoping for more calm in the equity markets in
2010 after a steep decline in 2008 and early 2009, followed by a huge
rally. But it's been yet another turbulent year for stocks so far.
Equities droppe...Read more |
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CI proposes fund mergers | Jun 14/10 |
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CI Investments Inc., the manager of United Financial’s
Artisan Portfolios and Institutional Managed Portfolios, announced
Friday its intention to merge these investment products into similar
solutions managed by CI Investmen...Read more |
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France, Quebec to recognize professional qualifications | Jun 14/10 |
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The Autorité des marchés financiers of both France and
Québec have signed an agreement designed to facilitate the mobility of
investment and securities industry professionals between France and
Québec.This undertaking, which...Read more |
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Bermuda partnership to provide services for offshore funds | Jun 14/10 |
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Boutique service provider Equinoxe Alternative Investment Services
has launched the Mid Ocean emerging manager offshore platform.
The Bermuda-based company’s platform will charge fund
manager...Read more |
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SEC says US unable to meet EU equivalence criteria | Jun 14/10 |
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The US is unlikely to be able to comply with the equivalence
criteria proposed by the European Union (EU) parliament to enable the
marketing of US hedge funds to European investors, senior regulators
said.
...Read more |
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Klarman Tops Griffin as Hedge-Fund Investors Hunt for `Margin of Safety' | Jun 14/10 |
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Seth Klarman almost doubled his
hedge fund’s assets to $22 billion in the past two years as the
industry shrank by sticking with the off-the-beaten-path
investments he’s pursued since starting out in 1983.
Unlike John Paulson...Read more |
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Emerging-Market Valuations Signal Returns of Up to 42%, Deutsche Bank Says | Jun 14/10 |
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Investors buying emerging-market
stocks at current valuations may reap gains of as much as 42
percent over the next 12 months, according to Deutsche Bank AG,
citing historical returns.
Emerging-market shares are trading at ab...Read more |
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Cavenagh Hedge Fund Gets Dutch Pension Money, Moves to Amsterdam from Asia | Jun 14/10 |
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Cavenagh Capital, set up last year
by former Morgan Stanley and DBS Holdings Ltd. managers in
Singapore, will start a new macro hedge fund in July after
getting money from the biggest Dutch pension fund.
Andrew Gale and Lee K...Read more |
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Global regulators aim to identify and manage systemic ris | Jun 11/10 |
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The global umbrella group of securities regulators is
bolstering its membership, and its mission.The International
Organization of Securities Commissions said Thursday that it is
introducing eight new principles for securiti...Read more |
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Proposed U.S. fair value accounting will hit banks’ balance sheets: Fitch | Jun 11/10 |
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If the new fair value accounting treatment proposed by
U.S. accounting standard setters is adopted, banks could face a heavy
hit to their shareholders equity, Fitch Ratings says.The rating
agency says the most notable change...Read more |
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Ex-Lehman Traders' Hedge Fund Had Best Month in May by Shorting | Jun 11/10 |
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Omnix
Multi-Strategy Fund, run by
two former Lehman Brothers Holdings Inc.
traders, returned 6
percent in May, when hedge funds globally posted the worst month
since 2008, by placing more bearish than bullish bets.
The As...Read more |
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World's Millionaires Increase by 14%, Boston Consulting Says | Jun 11/10 |
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Singapore and Malaysia led a
recovery of global wealth to pre-crisis levels as the number of
millionaires grew by about 14 percent last year, the Boston
Consulting Group said.
The number of millionaire households increased to...Read more |
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Hedge funds try new way to avoid big redemptions | Jun 11/10 |
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Many hedge funds are adopting a new way to avoid a
repeat of the massive redemptions that crushed managers during the 2008
financial crisis. Some investors like the changes, while others don't.
So-call...Read more |
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Ucits regulations pose challenge for hedge fund strategies | Jun 11/10 |
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Ucits-III compliant hedge funds challenge institutional investors
and strategy methodology
Despite the move to more highly regulated and prescribed
funds by some hedge funds, a some pension funds and simi...Read more |
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FoHF unveils new hedge fund ranking system | Jun 11/10 |
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Fund of hedge fund manager Lyster Watson has developed a hedge fund
rating and ranking system it claims provides a better indication of a
manager’s skill than traditional measures such as Sharpe and Sortino
ratios...Read more |
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Hedge fund liquidations rise again | Jun 11/10 |
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Hedge fund liquidations rose for the first time in a year in the
first quarter of 2010. A total of 240 funds and funds of funds closed,
according to data from Hedge Fund Research.
The figures...Read more |
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Consumer complaints about financial services reach record levels: OBSI | Jun 10/10 |
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Complaints from bank and securities industry clients were
up 48% in 2009, as it investigated 990 complaints, the Ombudsman for
Banking Services and Investments (OBSI) said Wednesday.This
represents more than triple the numbe...Read more |
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Six more countries join fight against cross border market misconduct: IOSCO | Jun 10/10 |
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Six countries are signing onto a co-operation agreement
between securities regulators that aims to fight cross-border market
misconduct.At its annual conference in Montreal, the
International Organization of Securities Commi...Read more |
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Asia Hedge Fund Takes Defensive Corporate Bond Bets on Region's Resilience | Jun 10/10 |
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Bonds of Asian companies at the
lower end of investment grade that are least affected by
economic swings offer the best opportunity for investors,
according to hedge fund Prudent Asia Capital Management Ltd.
“Asia will witnes...Read more |
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Hedge Funds, Investors in Bankruptcy May Keep Prices Secret, New Rule Says | Jun 10/10 |
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Distressed-debt investors shouldn’t
have to disclose the price or purchase date of their securities
when they participate in bankruptcy cases, a U.S. judiciary
advisory group said.
Hedge funds and other so-called vulture inve...Read more |
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Volcker upbeat on "reasonable" reform bill | Jun 10/10 |
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There is a good
chance that a sweeping U.S. financial reform bill will be passed in a
"reasonable form," White House economic adviser Paul Volcker said on
Wednesday, adding the bill could provide a basis for intern...Read more |
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Steenman Asset Management launches fund of hedge funds with $50 million | Jun 10/10 |
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Last month Geneva-based Steenman Asset
Management announced the launch of its first fund of hedge funds, the
Steenman Core Absolute Return Fund. The new fund launched with $50
million in assets under management, which has ...Read more |
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Directors Can (and Should) Talk to Investors, About All Sorts of Stuff | Jun 10/10 |
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As activist investors begin to win director elections, talk turns to the
rights and obligations of these directors to share board-level
information. To what extent may these new directors (or any directors,
really) communica...Read more |
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State Street Global Advisors Names Global Head of Defined Contribution | Jun 10/10 |
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State Street Global Advisors (SSgA), the
investment management business of State Street Corporation (NYSE: STT)
today announced the appointment of Kristi Mitchem to senior managing
director and global head of its defined c...Read more |
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Proposed national securities regulator an opportunity for improvement, says CSTO panel | Jun 09/10 |
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Constitutionality uncertainties around the proposed
national securities regulator should be resolved within the next year,
and in the meantime, the government is working to convince all provinces
and territories of the wid...Read more |
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Perimeter launches basket trading in CBID marketplace | Jun 09/10 |
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Perimeter Markets Inc. is launching “basket trading” in
the CBID marketplace, allowing users to execute multiple orders
simultaneously against CBID’s electronic, multi-dealer fixed-income
inventory. With the addition of bask...Read more |
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End of the Euro? Not so Fast . . . | Jun 09/10 |
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It seems that wherever you look right now, everyone hates the Euro.
Pundits on CNBC, Bloomberg, Fox Business, newspapers, Web sites, as well
as investors and many hedge fund managers say the common currency is
doomed. The ar...Read more |
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Mid-sized Asian hedge funds have performed best | Jun 09/10 |
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GFIA pte ltd, the Singapore based specialist in
skill-based managers in Asian and emerging markets, has released a
research paper continuing its study of the relationship between a hedge
fund’s size, and its performance.
...Read more |
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Eastern Europe Private Equity Transaction Outlook Improves, Deloitte Says | Jun 09/10 |
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A recovery in stock markets and
improved access to credit will help bolster sentiment for
private-equity transactions in central and eastern Europe this
year, a Deloitte & Touche LLP survey found.
Better access to debt ma...Read more |
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Banking veterans to offer fund with cut-rate fees | Jun 09/10 |
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Two
of Canada’s most
experienced bond market veterans are leaving behind careers in banking
to open a
hedge fund that they hope will shake up the industry by charging much
lower
fees.
John Schumacher, former co-chie...Read more |
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Aston Hill to acquire Navina Asset Management | Jun 08/10 |
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Aston Hill Financial Inc. announced on Monday an
agreement to acquire Toronto-based Navina Asset Management Inc. for a
base consideration of $4.2 million.Aston Hill, with offices in
Calgary and Toronto, said it will become a...Read more |
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Global spec-grade default rate falls further in May: Moody’s | Jun 08/10 |
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The global default rate for speculative-grade issuers
continued to fall in May, Moody’s Investors Service said Monday.The
firm reports that the global default rate dropped to 7.5% in May from
9.0% in April, and is now down f...Read more |
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Investment schemers ordered to pay $29 million by OSC | Jun 08/10 |
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The Ontario Securities Commission has ordered a group of
firms and individuals to disgorge $27.9 million in investor funds, plus
more than $1.5 million in commissions, related to an investment scam in
which investors lost mi...Read more |
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Schumacher, MacBain Start Low-Cost Hedge Fund in Toronto | Jun 08/10 |
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Two of Canada’s bond market veterans
are seeking to raise C$100 million ($94.4 million) for a hedge
fund that will invest in debt securities while keeping fees
below industry benchmarks, the Globe and Mail reported.
John Sc...Read more |
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Oracle Capital Selects Quantifi for Valuation and Risk Management of New Structured Credit Fund | Jun 08/10 |
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Quantifi, a leading provider of analytics, trading and risk management solutionsfor the global capital markets, today announced that Oracle Capital, a hedgefund start-up founded by two former Lehman Brothers traders, has selectedQ...Read more |
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International events affect hedge funds’ performance in May; Moore’s and Paulson’s funds fall | Jun 08/10 |
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Hennessee Group has released its latest hedge fund index performance
data for May of 2010. According to the report, the Hennessee Hedge Fund
Index dropped -2.99% last month while still outperforming the S&P
500 (-8.20%),...Read more |
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Schulich School of Business welcomed as CFA program partner | Jun 08/10 |
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The CFA Institute and Toronto CFA Society have welcomed
the Schulich School of Business at Toronto’s York University as a CFA
Program Partner. The school joins the distinguished 118 CFA Partner
institutions around the world....Read more |
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European debt crisis having only modest impact in Canada, Carney says | Jun 08/10 |
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The impact of Europe’s debt crisis is barely washing
ashore in Canada and will continue to have a modest impact as long as
Europe takes decisive action to reduce the risks, Bank of Canada
governor Mark Carney said Monday.“Wh...Read more |
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UBS raises 2010 outlook for Canadian GDP growth | Jun 07/10 |
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UBS Securities Canada Inc. has raised its forecast for
Canadian gross domestic product growth this year, while cautioning that
the hot start to the year is likely to slow in the months ahead.In
a new research report, UBS rai...Read more |
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Lansdowne Reaps 6.9 Million-Pound Profit Shorting Prudential | Jun 07/10 |
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Lansdowne
Partners LP, a London-based
hedge fund that bet as much as 213 million pounds ($312 million)
that Prudential Plc’s shares would fall, made a profit of about
6.9 million pounds as the stock dropped.
The...Read more |
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