General News

	Hockin nominated as IMF executive director	Dec 01/09
	Finance Minister Jim Flaherty announced on Monday the nomination of Tom Hockin as executive director of the International Monetary Fund, representing the constituency of Canada, Ireland and the Caribbean. Hockin’s nomination wi...Read more
	STATE STREET TO EXPAND ALTERNATIVE INVESTMENT SERVICING CAPABILITIES	Dec 01/09
	AGREES TO ACQUIRE LEADING EUROPEAN ADMINISTRATOR Acquisition Expected to Make State Street Largest Alternative Asset Servicing Provider Globally With $600 Billion in Assets Under Administration ...Read more
	Lyxor Says It May Turn Bullish on Japanese Hedge Funds in 2010	Nov 30/09
	Lyxor Asset Management, an investment arm of Societe Generale SA, said it may start investing more in Japanese hedge-fund managers next year as it expects a rebound after the recent sell-off in the country’s stock marke...Read more
	Furious investors warn troubled Dubai it will 'never raise a penny again'	Nov 30/09
	Hopes Abu Dhabi will ride to the rescue of troubled state as experts fear crisis could plunge world back into recessionFurious bondholders have arranged emergency talks with Dubai officials this week in an effort ...Read more
	Hedge funds mull ditching UK for Switzerland, Asia	Nov 30/09
	Recent British tax hikes spurred talk of funds' exodusLONDON — They're getting nervous in Mayfair and Belgravia, London's hedge fund heartlands. Luxury car dealerships, designer boutiques and high-end restaurants have thrive...Read more
	Hedge funds eye Asian growth as Bolton heads east	Nov 27/09
	Fidelity's Anthony Bolton is unlikely to be the last top UK investor to move to Asia as hedge funds eye up attractive investment opportunities and cash-rich clients hungry for absolute returns. While not strictly a hedge fu...Read more
	Sparx Aims to Raise as Much as 20 Billion Yen for Ecology Fund	Nov 27/09
	Sparx Group Co., Asia’s biggest hedge-fund company, plans to raise 20 billion yen ($230 million) for a fund aimed at investing in Japanese environmental technology firms as mandates to cut carbon emissions spur demand. ...Read more
	Black might face fraud charge	Nov 26/09
	Case involves Bermuda fund. Swiss investors have filed two lawsuitsMontreal money manager Hans Black is in hot water in Bermuda.Bermuda newspaper The Royal Gazette reported that police in the tax haven have recommended he be pro...Read more
	Keells to Invest $100 Million in Sri Lanka Hotels	Nov 26/09
	John Keells Holdings Plc., Sri Lanka’s biggest diversified company, plans to invest about $100 million building new resorts to benefit from an economic resurgence after the end of the South Asian island’s civil war. ...Read more
	AIMA Statement on Report By AIFM Directive Rapporteur	Nov 26/09
	“We appreciate the work Jean-Paul Gauzès has put into this report on the AIFM Directive, and we are grateful for his recognition of the importance of alternative investment funds (AIFs) in financing the European economy. We agr...Read more
	Rise in demand for hedge funds fails to benefit managers	Nov 25/09
	Compensation for regional fund managers, which declined an estimated 50 per cent in 2008, has failed to pick up in spite of the continued growth in performance that hedge funds have seen this year, industry players told Emirate...Read more
	Hedge Funds May Account for 40% of Bank Capital, Report Says	Nov 25/09
	Hedge funds provided as much as 40 percent of the money raised this year by U.S. and European banks as they sought to offset losses and meet government capital requirements, according to Morgan Stanley. Financial f...Read more
	Doing the Diligence	Nov 25/09
	It has becoming glaringly clear, in the wake of Ponzi schemes (Bernard Madoff, Arthur Nadel, Nicholas Cosmos, Alan Stanford), hedge-fund insider trading scandals (Raj Rajaratnam at Galleon Partners being the latest as of press ...Read more
	Northern Trust's Hedge Fund Monitor(TM) Solution Provides Greater Transparency for Hedge Fund Invest	Nov 25/09
	Northern Trust (Nasdaq: NTRS) has enhanced its offering to clients investing in hedge funds - including funds of hedge funds managers and direct institutional investors - with the launch of a new set of compliance monitoring c...Read more
	Managed futures hedge funds hit by volatility -Lipper	Nov 25/09
	* Managed futures funds down 1.41 pct in October * Down 0.97 pct year-to-date, some big names struggle * Best-performing strategy of 2008 LONDON, Nov 24 (Reuters) - Recent volatility ...Read more
	Long-thawed ABCP market simmering to a boil	Nov 25/09
	Hedge funds snap up notes in elusive search for double-digit return Almost a year after the completion of the landmark deal to save the $32-billion asset-backed commercial paper sector, one of the key pledges of the de...Read more
	Hedge funds may get $11 bln frozen at Lehman	Nov 24/09
	* Lehman Brothers Intl (Europe) sets plan to return assets * LBIE would permit return of $11 bln by end of March * PwC says plan needs approval by 90 percent of clients Lehman Brothers International (Europe), where ...Read more
	SEC to Focus on Derivatives as Insider Probes Expand	Nov 24/09
	The U.S. Securities and Exchange Commission will focus on financial instruments such as derivatives as it broadens a crackdown on insider trading by hedge funds, enforcement director Robert Khuzami said. “The days of insi...Read more
	Hedge funds boost stock exposure in Q3	Nov 24/09
	Hedge funds, in the third quarter, showed their greatest appetite for stock market risk in two years, according to research from Goldman Sachs on Monday. The investment bank's latest Hedge Fund Trend Monitor, which analyzed ...Read more
	Investor Confidence Commentary	Nov 24/09
	Investor Confidence Commentary 24 November 2009 Andrew Capon State Street Global Markets Balancing act Thirty-five years ago Philippe Petit walked between the twin towers of the World Trade Center in New York on...Read more
	Hedge funds plan onshore versions	Nov 23/09
	More than half of European hedge fund companies plan to launch regulated, onshore versions of their strategies or have already done so, according to HedgeFund Intelligence, a research group.A fifth of European h...Read more
	Trinity Hedge Fund welcomed in Cayman	Nov 23/09
	Speaking at the official launch of the Trinity Hedge Fund held at Grand Old House on Wednesday 17 November, Premier Hon. McKeeva Bush said that the country needed to expand the number of players in the industry. Mr Bush said ...Read more
	Horseman Capital co-founder throws in the towel	Nov 23/09
	John Horseman has lost his faith in markets. “The market asks questions of us. You can either believe or leave,” said the co-founder of London hedge fund group Horseman Capital, announcing his decision to step down from ...Read more
	Pequot Employee Told His Therapist That Samberg Sought Tips	Nov 20/09
	The ex-Pequot Capital Management Inc. employee now at the center of a U.S. insider-trading probe told his therapist that the hedge-fund firm fired him in 2001 after he stopped delivering secret information on Microsoft Corp., ...Read more
	Petters says he tried to "fix" fraud at his company	Nov 20/09
	* Prosecution begins cross-examination * Petters accused of $3.65 billion Ponzi scheme Federal prosecutors on Thursday confronted Tom Petters over his claim that after he belatedly became aware of the fraud that bankrupt...Read more
	Spherix’s Lee Tells Judge He Got Inside Tips From Asia Source	Nov 20/09
	Richard Choo-Beng Lee, the co- founder of Spherix Capital LLC who is cooperating in a U.S. probe of Galleon Group, told a judge at his guilty plea last month that he received insider information from “one of my sources in ...Read more
	Private equity eyes illiquid hedge fund stakes	Nov 20/09
	Hedge fund investors stuck in products with illiquid assets are increasingly seeing interest in their stakes from specialist private equity or other buyers as markets recover, according to broker Tullett Prebon (TLPR.L). He...Read more
	Boeing To Invest $1.7B In HFs	Nov 20/09
	Boeing will seek direct hedge funds for investments, worth $1.7 billion, by early 2010, Pensions & Investments reports. The aerospace and defense company is planning to invest in the funds, which may include separate acc...Read more
	Time Is Right for Hedge Funds, Manager Says	Nov 20/09
	Despite a tough run for hedge funds last year, at least one manager believes a number of factors have combined to create an attractive environment for hedge fund investing. The Nexar Capital Group, a fund of hedge funds firm ...Read more
	Ritchie Capital sues to recover Petters firm loans	Nov 19/09
	Ritchie Capital Management LLC, a Chicago hedge fund that at one time managed $2 billion, sued two former executives of companies controlled by indicted businessman Thomas Petters in a bid to win the return of millions of ...Read more
	Hedge fund manager Paulson bets BofA to rise more	Nov 19/09
	Shares of Bank of America Corp (BAC.N) stock rose more than 3.5 percent on Wednesday after billionaire hedge fund manager John Paulson told investors that he expects the stock price to almost double in the next two years. ...Read more
	hibro reaches out to hedge fund investors	Nov 19/09
	Firm offers commodities fund through Blackstone unit Park Hill Phibro LLC, which became embroiled in controversy over star trader Andrew Hall's compensation, is reaching out to hedge fund investors as Citigroup Inc. relinquis...Read more
	Hedge fund strategies ride out stock market fall	Nov 19/09
	Convertible arbitrage rode out the poor October performance of risky bonds to return 1.26%, according to the latest set of alternative indexes from Edhec. The indexes showed convertible arbitrage posted a return of 45.2...Read more
	Hedge fund fined for compliance failures	Nov 19/09
	The Commodity Futures Trading Commission (CFTC) has fined a New York-based hedge fund for making false statements about its market positions and financing arrangements to the Chicago Board of Trade (CBOT). EMF Financial Produ...Read more
	Hedge-Fund Assets Increased $7.8 Billion in October	Nov 18/09
	Hedge-fund assets increased by $7.8 billion in October, a sixth straight monthly gain, led by European managers as the region emerges from recession, Eurekahedge Pte said. Net inflows totaled $10.2 billion, while performance...Read more
	Citi redeems $250 mln from Claren Road after seeding firm	Nov 18/09
	Move comes as giant bank reorganizes its alternative investments business Citigroup Inc. recently redeemed its investment with Claren Road Asset Management after helping launch the hedge-fund firm in 2005, according to two pe...Read more
	Credit Suisse/Tremont Hedge Fund Index relatively flat in October	Nov 18/09
	The Credit Suisse/Tremont Hedge Fund Index finished relatively flat in October, up 0.13 per cent, as a result of increased market volatility. This brings year-to-date performance of the index to 15.11 per cent. Dedicated short...Read more
	RBC Hedge 250 Index returns -0.25 per cent in October	Nov 18/09
	The RBC Hedge 250 Index had a net return of -0.25 per cent in October, bringing the year-to-date return of the index to 17.20 per cent. These returns are estimated and will be finalised by the middle of next month. The return...Read more
	CFTC allows sale of Topix futures in the US	Nov 17/09
	The Commodity Futures Trading Commission has permitted the offer and sale in the US of the Tokyo Stock Exchange’s mini futures contract based on the Topix and futures contracts based on the Topix Core30 Index and TSE Real Estat...Read more
	Hedge funds to play bigger role but worries remain	Nov 17/09
	Hedge funds will soon play a bigger role in portfolios, but investors still worry about getting their money back and understanding what a manager is doing, according to a new survey released on Monday. Nearly 60 perce...Read more
	BMO Capital Buys Assets From Paloma Hedge Fund	Nov 17/09
	BMO Capital Markets, the investment- banking business of Bank of Montreal, hired a team and bought assets from Paloma Securities LLC to expand its securities- lending business. Bank of Montreal added 42 people from...Read more
	Japanese investors cautious on distressed assets	Nov 17/09
	Domestically there are concerns about creditor protection, while overseas there is wariness towards hedge funds but more interest in private equity. ...Read more
	Soros Fund Management Has New 7.34 Million Share Stake in Ford	Nov 17/09
	Soros Fund Management LLC took a new 7.34 million stake in Ford Motor Co. as of Sept. 30, it said today in a regulatory filing. ...Read more
	Hedge funds, take heart!	Nov 17/09
	Many commentators have written the obituary of the hedge fund industry, or of some of its more esoteric or leverage-dependent strategies, during the credit crisis.So it may be of some encouragement to see a new launch by Invesco...Read more
	Aima welcomes Swedish text for AIFM Directive	Nov 16/09
	The Alternative Investment Management Association has welcomed the work of the Swedish Presidency in producing compromise text for the Alternative Investment Fund Managers Directive. Aima says there have been significant conce...Read more
	Hedge Funds Like Cadbury, Shorts Like Kraft	Nov 16/09
	The FT reports increasing hedge fund interest in Cadbury (CBY), showing growing confidence that the hostile Kraft (KFT) bid will succeed. The short base in Kraft has risen to 3.8% from 3.5% a week ago; analyst and media comment ...Read more
	Galleon's Rajaratnam seeks to unseal Khan records	Nov 16/09
	Galleon Group founder Raj Rajaratnam, accused in the biggest US hedge fund insider trading case, has asked a federal court to unseal records of a 2001 criminal charge against former trader Roomy Khan, one of the government's co...Read more
	Hedge funds on top in five-year snapshot	Nov 16/09
	What are we looking for? Leaders and laggards over the past five years. Given that some managers may engage in a game of musical chairs between firms, five years is a decent period to look at long-term performance. ...Read more
	Foot in the Door: The Art of the Hedge Fund Resume	Nov 16/09
	Getting your resume to the top of the pile at a hedge fund can be tricky -- many are small elite firms that see a slew of top candidates. But taking the time to perfect your resume can yield great rewards. For one, there are fe...Read more
	Hedge fund employee compensation on the rise, says report	Nov 13/09
	Following a year in which the hedge fund industry suffered one of its worst periods on record, there are clear signs that a recovery is underway with hedge fund employee compensation on the rise, according to a report by Glocap Se...Read more