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Monday, December 10, 2018

General News




Morgan Stanley ‘Evaluating’ Hedge-Fund Investments
Feb 03/10
Morgan Stanley is “evaluating” its investments in hedge funds including FrontPoint Partners LLC and London-based Lansdowne Partners LP, Chief Executive Officer James Gorman said today at an investor conference. “We’re...Read more



Fund Pros Launch LGBT Capital
Feb 03/10
Galileo Capital Management has launched LGBT Capital, a specialist Corporate Advisory and Investment Management Unit focused on the lesbian, gay, bisexual and transgender (LGBT) consumer market. LGBT Capital provides corpora...Read more



GFIA Shuns Chinese Hedge-Fund Coverage for Lack of Transparency
Feb 02/10
GFIA Pte, a Singapore-based hedge- fund firm and consultant, said it stopped coverage of most Chinese hedge funds because they lack transparency and sold all of its investments with mainland Chinese managers. The value o...Read more



Callebaut Expects Higher Cocoa Prices as Hedge Funds Speculate
Feb 02/10
Barry Callebaut AG, the world’s largest maker of bulk chocolate, expects prices for cocoa beans to increase, after surging more than 20 percent last year, as hedge funds cause disruption in the market. “There is a bigger...Read more



New Hedge Products Declining
Feb 02/10
New hedge fund products launches declined by 60% between 2007 and 2009.New product launches, which include both additional share classes of existing funds as well as newly launched...Read more



Ex-Millennium’s Sullivan In Talks to Join Hedge Fund, Bank
Feb 01/10
James Sullivan, a former managing director of Millennium Management LLC’s Asian business, said he has been in talks to join another hedge fund or bank since leaving the firm in December. Sullivan and Harvey Liu, who w...Read more



How America's Universities Became Hedge Funds
Feb 01/10
In August 2009, just one month after the state of California cut over a billion dollars from its higher education budget, the University of California (UC) turned around and lent the state $200 million. When journalists asked ...Read more



Secondary hedge fund market trades at all-time low
Feb 01/10
Hedgebay’s secondary market trading index set a new low during December 2009, with the average price of trades dropping below 80% of net asset value (NAV). Although the dispersion between the highest and lowest trades narrowe...Read more



Salida expands fund range
Feb 01/10
Salida Capital has launched the Wealth Preservation Fund, a low-volatility long/short equity fund with a focus on resources and precious metals. Salida has also made its offshore Strategic Growth Fund and Global Energy Fun...Read more



The future is in managed accounts
Jan 29/10
After the turmoil of 2008 and 2009, hedge fund investors have learned to dread the "four horsemen." That's how Bernice Miedzinski, executive vice-president at Man Investments Canada characterizes the Bernie Madoff f...Read more



Intel Manager Linked to Galleon Case Has Left Company
Jan 29/10
Intel Corp. said Rajiv Goel, a defendant in the Galleon Group LLC insider-trading case, is no longer an employee at the chipmaker. Chuck Mulloy, a spokesman for Intel, the world’s biggest chipmaker, said he can’t ...Read more



Harvard’s Ferguson Says Hedge Funds Weren’t Part of the Problem
Jan 29/10
Harvard University Professor Niall Ferguson said hedge funds don’t need the same regulation as banks and that the funds were not central to the financial crisis. He spoke in an interview with Bloomberg TV in Davos, Switzerland...Read more



Hedge fund group Man leads FTSE lower on growth fears
Jan 28/10
Man , the world's largest quoted hedge fund, led the market lower on fears about its future growth.The company's shares dropped 17.1p to 246p - a 6.5% decline - after it announced that the net asset valu...Read more



EU Plans Would Limit Investors to 40% of Hedge Funds, FSA Says
Jan 28/10
As many as 40 percent of the world’s hedge funds won’t have access to European Union investors if EU plans to oversee funds and private equity are passed in their current form, an official at Britain’s regulator said. Invest...Read more



Hedge Fund Monarch Unhappy With Rangers Sale
Jan 28/10
A hedge fund may be all that stands in the way of private equity veteran Tom Hicks’ deal to sell his baseball team in an effort to retire more than $500 million in defaulted debt. Last week, Hicks’ sports team holding company...Read more



Lehman Segregated Accounts Appeal May Delay Hedge Fund Payouts
Jan 27/10
Lehman Brothers International Europe’s administrators said an appeal in a London lawsuit may delay payouts to some clients of the failed investment bank. Lehman Brothers Holdings Inc., two of its affiliates and CRC Credit...Read more



Gottex says hedge fund outflows to reverse in '10
Jan 27/10
* Assets under Management slip to $8.1 bln at end-Q4 * Says strong institutional interest in hedge funds Alternative asset manager Gottex Fund Management Holdings (GFMN.S) said it expected solid inflows from institutiona...Read more



Hedge funds’ $1bn lawsuit says Porsche lied on VW ambition
Jan 26/10
American hedge fund managers sued Porsche and two of its former top managers yesterday for more than $1 billion (£620 million), in what may be one of the biggest damages claims ever received by a German company. Four fund man...Read more



Blair's £200,000 hedge fund pay-day
Jan 26/10
Tony Blair is to be paid at least £200,000 by a City firm accused of profiteering from the financial crisis that brought Britain's banks to their knees. The former prime minister has been hired by the hedge fund Lansdow...Read more



Hedge funds bounce back from the crunch
Jan 26/10
News of my death has been greatly exaggerated,” Mark Twain is said to have told an audience in Europe in 1897 after reading a rather excitable newspaper report. In 2010, the hedge fund industry might be forgiven for saying the...Read more



Litterman Said to Retire From Goldman Sachs Hedge-Fund Unit
Jan 25/10
Robert Litterman, chairman of Goldman Sachs Group Inc.’s quantitative hedge-fund group, will step down at the end of this month, a move planned before President Barack Obama’s call yesterday to limit proprietary tradin...Read more



Hedge funds 'will mop up bank talent'
Jan 25/10
Mayfair's hedge fund industry could enjoy a huge influx of talent if the Obama proposals go through. If traders are banned from taking potentially lucrative risks on their own bank's account they may look to move to establ...Read more



Seven indicted in Galleon insider trading case
Jan 22/10
* Brings to nine the number of people formally charged  * Defendants accused of trading on tips on pending mergers * Arraignment scheduled for Feb. 2 Federal prosecutors on Thursday unveiled grand jury indictmen...Read more



Ex-DKR Eechaute Makes 13% Gain With Instinct Japan Hedge Fund
Jan 22/10
Frederic Eechaute, a former senior analyst at DKR Oasis Management Co. LP, has led his new Japan- focused hedge fund to a 13 percent return in less than two months by betting on the most liquid stocks. The Instinct Jap...Read more



Morgan Stanley to raise capital for hedge fund clients
Jan 22/10
Morgan Stanley (MS.N) has launched a new global initiative to raise capital for hedge fund clients in return for a fee, a company spokesman said. The bank said on Friday that it had hired Jenkin Leung, former managing d...Read more



Judge denies 'Chinese Warren Buffet' bail
Jan 22/10
A Toronto financial adviser charged with defrauding about 100 investors in Canada, the United States and China of some $30 million through a Ponzi scheme was denied bail Thursday. Weizhen Tang, who is charged with fraud over ...Read more



Angry investors remain trapped in ‘low-risk’ Matrix hedge fund
Jan 22/10
A Matrix hedge fund that was advertised as having a ‘low degree of risk’ is likely to remain suspended for another year after losing 38.19% in the first 11 months of 2009.The $229 million Matrix Asset Based 2 Fund, which ...Read more



New ETF, hedge fund add breadth to market
Jan 21/10
  There is still room for improvement, but the breadth of Canada's investment market is a touch better today than two months ago, thanks to the introduction of two new products that offer investors greater s...Read more



Investors flee fund with ties to Galleon witness
Jan 21/10
The tight-knit Boston hedge fund community has been rattled by a guilty plea in the biggest insider trading prosecution in two decades. Loch Capital Management, a technology-oriented hedge fund that once boasted over $2 b...Read more



Obama to Propose New Rules on Banks’ Size, Trading
Jan 21/10
President Barack Obama will offer proposals to limit financial institutions’ size and trading activities as a way to reduce risk-taking, an administration official said. Obama will announce the rules today at 11:40 a.m. i...Read more



Edhec indexes end 2009 in positive territory
Jan 21/10
The majority of hedge fund strategies monitored by Edhec’s alternative indexes ended 2009 with positive returns. Only short selling and global CTA posted negative returns for the year. Convertible arbitrage led the way ...Read more



Hedge-Fund Assets Rose by $4.6 Billion in December, Report Says
Jan 20/10
Hedge-fund assets grew by $4.6 billion in December in the eighth straight month of capital growth as investor confidence recovers along with global markets, according to Eurekahedge Pte. Net inflows totaled $600 million i...Read more



Hedge Funds Hold Investors ‘Hostage’ After Decade’s Best Year
Jan 20/10
Hedge funds’ best year in a decade is giving little comfort to Jason D. Papastavrou. The founder of New York-based ARIS Capital Management LLC, which has about $250 million invested in hedge funds, is still waiting to get b...Read more



Marc Faber Joins Hedge Fund Of Fellow Doomsayer Eric Sprott
Jan 20/10
Marc "Doom, Boom, and Gloom" Faber just joined Sprott Asset Management as a director. Faber is currently an investment advisor who often speaks about his deep concern for the future of the dollar (he thinks the U...Read more



HedgeServ moves into Cayman
Jan 20/10
Fund administration company HedgeServ has appointed Greg Bennett to launch a Cayman Islands office. Bennett, formerly managing director responsible for business development and client relations at Butterfield Fulcrum, joins H...Read more



Hedge funds set to grab larger slice of the investment cake
Jan 20/10
Hedge funds will start to challenge investment banks for a share of the institutional investment market over the next 20 years, according to financial services experts. The industry will become more popular because it makes m...Read more



Funds of Hedge Funds Trail Market, Close as Madoff Still Stings
Jan 20/10
Funds of hedge funds trailed the recovery in the broader market last year and still bear the scars of investments in Bernard Madoff’s $65 billion Ponzi scheme, according to data from Hedge Fund Research Inc. The firm’s f...Read more



Tudor and SAC managers join drive to launch new hedge funds
Jan 19/10
A former partner of Tudor Investment Corporation has joined forces with the former chief executive of the European arm of SAC Capital Advisors to launch a hedge fund, the latest in a series of vehicles to enter the marke...Read more



FTSE and EDHEC launch index series
Jan 19/10
FTSE Group and EDHEC-Risk Institute, a centre for applied asset and risk management research, have launched the FTSE EDHEC-Risk Efficient Indices. The index series uses a risk-adjusted strategy similar to traditional m...Read more



Bail unresolved for accused in alleged $30M scam
Jan 19/10
A Toronto financial adviser accused of operating a multimillion-dollar Ponzi scheme had to spend another night in jail Monday pending the resumption of his bail hearing Tuesday. Weizhen Tang, 51, is accused of defrauding abou...Read more



More hedge fund traders join rush to Geneva
Jan 18/10
THE UK’s third-largest hedge fund, Bluecrest, will move 50 of its highest-earning traders and fund managers to its new office in Geneva before the 50% income tax on high-earners kicks in on April 6. The hedge fund, curr...Read more



A Dozen Hedge Funds Plan Asia Offices, Merrill Says
Jan 18/10
Bank of America Merrill Lynch is helping more than a dozen multibillion dollar international hedge funds set up or reestablish a presence in Hong Kong and Singapore as the U.S. and Europe increase industry regulation. ...Read more



IE fund manager of the year: Looking for fledgling companies
Jan 15/10
Lamarche is no index hugger When Normand Lamarche, senior portfolio manager with Front Street Capital in Toronto, looks for investment opportunities, he tries to visualize the future composition of the S&P/TSX composi...Read more



Regulatory change to entice offshore funds
Jan 15/10
FINANCIAL services professionals will have a say in regulatory changes designed to make Australia more attractive to foreign funds managers under proposals outlined today. The Australian Financial C...Read more



Man Group stung by AHL losses, client exits
Jan 15/10
* Assets $42.4 bln at end-Dec, shares fall 5.25 pct * Total net outflows $1.1 bln * AHL flagship strategy down 16.4 pct in year to Dec. 28 * Poor AHL performance affected sales, says CEO Hedge fund fir...Read more



Hedge Fund Investors Take Their Revenge
Jan 15/10
Big returns are back, but that's not enough to keep angry clients from pulling billions out of hedge funds that blocked withdrawals during dark times Since their record losses in 2008, hedge funds have staged a comeback...Read more



Weizhen Tang, accused in Ponzi scheme, arrested upon return to Toronto
Jan 14/10
Weizhen Tang – a Toronto money manager accused of allegedly operating a multimillion-dollar Ponzi scheme – was taken into police custody Wednesday after arriving at Pearson International Airport from China. Mr. Tang, the s...Read more



Hedge funds seen losing staff to the SEC: survey
Jan 14/10
U.S. hedge funds last year lost staff to endowments, sovereign wealth funds and the U.S. Securities and Exchange Commission, and the trend is likely to continue in 2010, according to a survey by executive recruiter Heidrick ...Read more



Funds of hedge funds gang up to tackle managers
Jan 14/10
The fund of hedge funds arm of Hermes, Britain's largest pension scheme manager, has rallied peers with more than $15 billion in assets to get agreement on how to better handle the managers running their money. In one...Read more



Galleon's Rajaratnam slams wiretaps, stays free
Jan 13/10
Galleon hedge fund founder Raj Rajaratnam, accused of fraud and conspiracy in a complex insider trading case, attacked the U.S. government's wiretap evidence on Tuesday, as he won approval to stay free on bail. Rajaratnam...Read more

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