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Monday, December 10, 2018

General News




Ex-Credit Suisse Manager Tomiyama to Start Japan Hedge Fund
Jan 13/10
Kunio Tomiyama, former chief fund manager at Credit Suisse Asset Management Ltd., plans to start a hedge fund by the end of this year that will restrict investments to a maximum of 30 Japanese stocks to boost returns. ...Read more



Hedge Fund Short Positions: High Operating Leverage the Common Theme
Jan 13/10
Upon reading various hedge fund investor letters and conversing with colleagues in the industry, one thing has become quite clear: hedge funds got their asses kicked on the short side of the portfolio in 2009. This is by no me...Read more



Selling from retail investor will outlast buying from hedge funds
Jan 13/10
History shows us that financial crisis breeds behavioural change. This time is no different.Consumer attitudes towards homeownership have changed ... semi-permanently. This is why the U.S. government has to encourage p...Read more



Madoff Assets Located in Canada, Lawyers Needed, Trustee Says
Jan 12/10
Assets of Bernard Madoff’s defunct investment firm have been located in Canada and the trustee liquidating the convicted felon’s Ponzi scheme is seeking to hire a Montreal law firm to recover them, court filings show. Law...Read more



California fund manager sentenced in fraud scheme
Jan 12/10
The founder and manager of two Beverly Hills hedge funds has been sentenced to more than 10 years in federal prison for cheating investors out of more than $25 million. Bradley Ruderman was sentenced Monday in a Los Angeles f...Read more



Soros, Citadel Hire Hedge-Fund Analysts From Galleon
Jan 12/10
Soros Fund Management LLC and Citadel Investment Group LLC hired three employees from Galleon Group LLC, the hedge-fund firm that closed after its billionaire founder Raj Rajaratnam was charged with insider trading. E...Read more



Demand rises for property hedge funds
Jan 12/10
Real estate hedge funds are making a comeback after a difficult period Asset managers set up a string of property hedge funds for UK and European investors in 2007, most of which were wiped out by the crisis. But after a diff...Read more



Toscafund's Hughes backs housebuilders
Jan 11/10
Hedge fund firm Toscafund's high-profile founder Martin Hughes is backing online gaming, housebuilders and resource stocks for 2010 but is wary of commercial property and has moved out of retailers. Hughes, whose funds we...Read more



Ucits hedge vehicles to flood sector
Jan 11/10
A wave of investment vehicles targeting the new breed of “onshore hedge funds” is set to be launched in 2010 – despite even their sponsors believing they will have lower returns and higher costs than funds already on...Read more



Goldman Looks to Crash ETF Party
Jan 11/10
Belatedly, Goldman Sachs Group wants to join the exchange-traded-funds party. The Wall Street bank, which already has a prominent ETF trading desk, has filed with the Securities and Exchange Commission for permission to launc...Read more



Hedge Fund Strategies, at Smaller Prices
Jan 11/10
The lure of hedge funds was always their mix of mystery, complexity and exclusivity. In this post-bear-market, post-Madoff world, though, the cachet belongs to investments that are clear, simple and easy to buy and sell. Ackn...Read more



Hedge firm RAB boosted by institutional inflows
Jan 08/10
* Assets up $100 mln to estimated $1.37 bln * Net inflows from institutional investors * Shares up 4 pct at 19 pence * Special Sits performance held back by unlisted holdings Hedge fund firm RAB Capital (RAB.L) sai...Read more



Kumar Pleads Guilty in Galleon Case, Admits Accepting Cash
Jan 08/10
Anil Kumar, a former McKinsey & Co. director, told a judge he leaked inside information to Galleon Group LLC founder Raj Rajaratnam over five years in return for $1.75 million. Kumar yesterday became the seventh per...Read more



Atom’s Tsuchiya Bets on Hatoyama Policies for New Hedge Fund
Jan 08/10
Atsuko Tsuchiya, a former Merrill Lynch & Co. managing director, plans to start a new Japan- focused hedge fund in March, employing an event-driven strategy that seeks to profit from a change in government. The Atom ...Read more



UK hedge fund Prana Capital weighs Asian move
Jan 08/10
* Prana plans to open S'pore office to focus on Asia - source * Founder likely to relocate to Singapore - source UK-based hedge fund firm Prana Capital is looking eastwards, with plans to open a office in Singapore where...Read more



Canadian police hunt accused Chinese swindler
Jan 07/10
Toronto police have issued an arrest warrant for a man of Chinese origin who is accused of swindling millions of dollars from investors in a multi-national pyramid scheme. Weizhen Tang, 51, who portrayed himself as the "...Read more



Och-Ziff growth highlights hedge fund recovery
Jan 07/10
Och-Ziff Capital Management, the owner of a stake in retailer Debenhams, has underlined the recovery in the hedge fund industry by recouping most of 2008's losses with a return to form last year.The turnaround was powered...Read more



Pension funds set to drive hedge fund growth
Jan 07/10
Hedge funds will see continued improvement in capital inflows in each successive quarter in 2010, according to Don Steinbrugge, managing partner of third party marketer Agecroft Partners. Steinbrugge sees an increase i...Read more



Legal & General to launch third hedge fund
Jan 07/10
Legal & General Investment Management is launching this month its third hedge fund. The company aims to attract up to $1 billion of investment from funds of hedge funds (FoHFs) and family offices for the fund. Th...Read more



Hedge Funds Finish with Best Gains Since 1999
Jan 07/10
<!-- div.Section1 {page:Section1;} p.MsoNormal {margin:0in; margin-bottom:.0001pt; font-size:10.0pt; font-family:"Times New Roman";} --> Hedge Funds Up +24.6% in 2009 &nbs...Read more



How We Crunched the Numbers to Find the Richest Hedge Funds
Jan 06/10
Our rankings of hedge funds are based on data compiled by Bloomberg and information supplied by research firms, fund companies and investors. Our ranking of the most-profitable funds took 2008 performance numbers i...Read more



SEC NY Head Tightens HF Oversight
Jan 06/10
George Canellos, director of Securities and Exchange Commission’s (SEC) New York regional office, is inspecting a number of New York hedge funds, HedgeFund.net reports. He has planned several sweeps of investment advisers and is ...Read more



Cohen’s Ex-Wife Replaces Lawyer
Jan 06/10
The ex-wife of Steven Cohen has appointed a new lawyer to take charge of her $300 million lawsuit against the SAC Capital Advisors founder, FINalternatives reports. Patricia Cohen has replaced Paul Batista with Gaytri Kachroo to h...Read more



Tepper Turns Panic to Profits With $6.5 Billion Hedge Fund Gain
Jan 05/10
David Tepper often throws a $20 bill on the floor when he’s weighing a big investment with analysts at Appaloosa Management LP. “Would you pick that up?” Tepper, founder and president of Appaloosa, asks them. His p...Read more



NY SEC Head Gives Perspective on Hedge Fund Exams
Jan 05/10
There’s a new sheriff in town at the New York office of the Securities and Exchange Commission and he wants the hedge fund industry to listen up. “We have planned a number of significant sweeps of investment advisors,...Read more



Hedge Funds Regain Some Swagger
Jan 04/10
Hedge funds started the year down on their heels and spent much of it trying to regain their footing. The result going into 2010 is a global industry still well off its peak size, but growing once again as investors get back t...Read more



Investor sues Camulos hedge fund for $67 mln
Jan 04/10
Camulos Partners LP, launched by a former Soros Fund Management trader, was sued by an investor seeking to recover $67 million that was "unlawfully seized," according to a Delaware court filing. The fund and Ric...Read more



Ready for this? A non-hedge-fund hedge fund
Jan 04/10
New products now can give investors comparable beta at a discount to 2-and-20 feesRegardless of the hedge fund industry's hoopla, a lot of investors are paying too much for the performance they're getting, or hope to get, from a...Read more



Small fund, big $
Jan 04/10
Call it the best little hedge fund you never heard of. Hoboken, N.J.-based Barnegat Fund is up a whopping 132 percent this year -- or $352 million -- hoisted through 2008's turmoil by its 40-year-old founder Bob Treue. By wa...Read more



Sprott Says S&P 500 Index Will Plunge Below March Low
Dec 29/09
The Standard & Poor’s 500 Index will collapse below its March lows as an expected rebound in economic growth fails to materialize, according to hedge fund manager Eric Sprott. The Toronto-based money manager, whose Sprott Hedg...Read more



OppenheimerFunds settles with Illinois 529 plan
Dec 23/09
OppenheimerFunds agreed to pay $77 million to settle allegations that it exposed an active fixed-income option in the Illinois Bright Start 529 college saving plan, Springfield, to more risk than participants were led to ...Read more



David Yarrow: founder of the 'celebrity' hedge fund
Dec 23/09
David Yarrow, a member of the Yarrow shipbuilding dynasty which created the Royal Navy’s first destroyers, is the founder member of the London-based Clareville Capital. It’s known in the Square Mile as the “celebrity hedg...Read more



Hedge fund operator Rajaratnam pleads not guilty
Dec 22/09
Wealthy hedge fund operator Raj Rajaratnam and a codefendant pleaded not guilty Monday to charges they were major players in a scheme that used inside information to make stock trades that generated millions of dollars in prof...Read more



Ex-Millennium’s Ee Plans to Start Macro Hedge Fund in Singapore
Dec 22/09
Albert Ee, a former managing director of Millennium Management LLC’s Asian business, said he plans to set up a hedge fund in Singapore that will seek to profit from bets on broad economic trends. AE Capital Management pl...Read more



Hedge fund manager in line for $2.5bn payday
Dec 22/09
David Tepper, who runs the US hedge fund Appaloosa Management, is in line for a profit share of around $2.5 billion (£1.5 billion) this year after betting heavily on a recovery in the stocks of banks including Citigroup and Ba...Read more



Consultancy's Exits Ripple Through Pension Funds
Dec 21/09
Turnover at one investment-consulting firm is raising concern among some pension funds that look to outside advisers for guidance on choosing hedge funds. In the past two weeks, Aksia LLC, of New York, has lost one of its fou...Read more



Mackenzie’s Madoff-tainted hedge fund faces more woes
Dec 21/09
The nightmare continues for unitholders in Mackenzie Alternative Strategies Fund. Investors in Mackenzie Financial Corp.’s only hedge fund saw their investment frozen a year ago, and redemptions halted as they discovered t...Read more



Building Your Own Hedge Fund
Dec 21/09
IF YOU HAVE A YEARLY INCOME OF AT LEAST $200,000 or net worth above $1 million, congratulations: You're among the relatively few "accredited investors" the law permits to access hedge funds. If you have less disposab...Read more



Riley Paterson Closes Fund to Investors After Growth
Dec 18/09
Riley Paterson Investment Management Pte said it closed its Asian hedge fund to investors after assets under management swelled 15-fold to $300 million. The Riley Paterson Asian Opportunities Fund returned 14 percent this y...Read more



Credit Suisse In Talks To Buy Fortis Bank's Hedge Fund Services
Dec 18/09
Credit Suisse Group (CS) Friday confirmed it is in exclusive talks to acquire Fortis Bank Nederland's hedge fund services unit Prime Fund Solutions. MAIN FACTS: - Prime Fund Solutions has provided fund services to the alternat...Read more



BluMont snaps up Northern Rivers
Dec 18/09
Consolidation continues in Canada's hedge fund industry, as BluMont Capital has entered into a binding agreement to acquire Northern Rivers Capital Management. Financial details of the purchase were not d...Read more



Northern Rivers Announces Sale to Blumont Capital Corporation
Dec 17/09
Northern Rivers Capital Management Inc. (“Northern Rivers”) announced today that it has entered into a binding agreement, subject to regulatory approval, to be acquired by BluMont Capital Corporation ("BluMont Capital&quo...Read more



Tudor Jones Turns Away Investors as Hedge-Fund Outflows Persist
Dec 17/09
In a year when investors pulled an estimated $118 billion from hedge funds through November, Paul Tudor Jones was one of at least six managers who decided it was time to turn away cash. BVI Global Fund Ltd., Jones’s bigge...Read more



Credit Suisse/Tremont Hedge Fund Index up 2.11% in November
Dec 17/09
Final performance for the Credit Suisse/Tremont Hedge Fund Index has been confirmed up 2.11 per cent in November, bringing year-to-date performance to 17.53 per cent. Managed futures and global macro led the performance am...Read more



Sprott lifts hedge fund sector
Dec 17/09
Eric Sprott's hedge funds put up great numbers in November, and changed the dynamic for the entire sector in Canada. Scotia Capital published its monthly index on hedge fund performance late Tuesday, and it showed that Canada...Read more



Art investment firm to close
Dec 17/09
Artistic Investment Advisers (AIA), the firm behind The Art Trading Fund, is to liquidate this month. Co-founders of AIA, Justin Williams and Chris Carlson, launched the fund in June 2007 marketing it as ...Read more



Top hedge fund executives stand firm on fees
Dec 17/09
Top hedge fund executive are digging in their heels on fees, convinced that the industry's lucrative "2 and 20" charging structure will survive client pressure after the credit crisis. Speaking in a series of ...Read more



KPMG forecasts increased use of Ucits wrappers by hedge funds
Dec 17/09
Characterised by election fever, 2010 will see changes to the flow of funds, an increase in the use of Ucits wrappers by hedge funds and an opportunity for growth with defined contribution pensions, according to Tom Brown,...Read more



RBC Hedge 250 Index returns 1.02% in November
Dec 16/09
The RBC Hedge 250 Index had a net return of 1.02 per cent in November, bringing the year-to-date return of the index to 18.48 per cent. These returns are estimated and will be finalised by the middle of next month. The re...Read more



Hedge fund billionaire Rajaratnam indicted for inside trading
Dec 16/09
A US federal grand jury has indicted billionaire Raj Rajaratnam, founder of Galleon hedge fund, in a multi-million-dollar Wall Sri lankan-born Rajaratnam along with his co-conspirator Danielle Chiesi was indicted yesterday o...Read more

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