General News

	Hedge Funds Can’t Mess Up Worse Than Bob Rubin	Nov 13/09
	One of the amazing things about attempts to overhaul the financial system is that some fixes are so simple and obvious, yet still so difficult to enact. A prime example is buried deep within the 1,136-page, financial-reform legisl...Read more
	Inside Trading Becomes ‘Systemic’ at Hedge Funds, Khuzami Says	Nov 13/09
	Insider-trading cases among hedge funds including Galleon Group LLC may reflect a “systemic” behavior that has spread within the industry, Securities and Exchange Commission Enforcement Director Robert Khuzami said. “You have fund...Read more
	Getting Reacquainted With Risk	Nov 13/09
	BRIAN C. PFEIFLER IS NO STRANGER TO Barron's readers. Last year, he placed first in our annual listing of the top 100 financial advisors in the U.S. In overseeing about $4 billion worth of client assets, Pfeifler has several roles...Read more
	Clashing Forecasts on Hedge-Fund Pay	Nov 13/09
	Is hedge-fund pay on the way down or on the rebound? Two closely-watched reports are projecting divergent estimates for hedge-fund pay in 2009.Yesterday a forecast from executive recruiter Glocap Search and trade publication Hedge...Read more
	State Street Appointed to Service CAD $300 Million for McCain	Nov 13/09
	STATE STREET APPOINTED TO SERVICE CAD $300 MILLION IN ASSETS FOR MCCAIN FOODS LIMITEDState Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, today anno...Read more
	Canadian trio fined USD2.2m in commodity pool anti-fraud action	Nov 12/09
	A federal court has entered default judgment orders against defendants Robin States and his wife Bernadette Bowden, both of Nova Scotia, Canada, and relief defendant Paul States, of British Columbia, Canada, in an action chargi...Read more
	Alternative investments prepare for lift-off	Nov 12/09
	From an economic and investment viewpoint, the Middle East has long been a part of the emerging markets strategy of major global funds, and, over the years, it has provided significant returns as the region’s economies grew rap...Read more
	Custody Rules Boost Third-Party Hedge Fund Aministrators	Nov 12/09
	In his most recent client letter, William Ackman, head of New York–based hedge fund firm Pershing Square, dutifully discussed market conditions. But he also explained in some detail why the $4.5 billion manager was one of 38 f...Read more
	Large banks and hedge funds increase their holdings in Cadbury	Nov 12/09
	The depth of the City’s disappointment at Kraft’s bid for Cadbury was emphasised yesterday as a number of big institutions and hedge funds raised their stakes in the British confectioner. Credit Suisse, the investment bank, inc...Read more
	Hedge funds make comeback	Nov 12/09
	With the rebound in global stock markets, hedge funds are starting to gain traction again. Hedge fund assets may top the previous $2-trillion (U.S.) high by the end of next year as double-digit returns lure investors, say...Read more
	Fund administrators second only to prime brokers, says Tabb	Nov 12/09
	With a post-Madoff world fixed firmly in the rear-view mirror and new regulations on the horizon, a new report from Tabb Group describes how the role of fund administrators is now among one of the most important of hedge fund c...Read more
	RBC Dexia picked for hedge fund start-up	Nov 12/09
	RBC Dexia IS has been selected to provide a custody, fund accounting and recordkeeping services for asset management company Georgian Capital Partners. The Canadian company is launching two inaugural hedge funds, the Georg...Read more
	Hedge funds fall for first time in seven months	Nov 11/09
	The Hennessee Hedge Fund Index declined 0.50 per cent in October, bringing its year-to-date performance to +20.12 per cent, according to the Hennessee Group.The S&P 500 fell 1.98 per cent (+14.72 per cent YTD), the Dow Jones I...Read more
	Hedge funds bite into Cadbury	Nov 11/09
	Paulson & Co, the New York hedge fund run by John Paulson, has disclosed a 2.08% stake in Cadbury following Kraft’s £9.8bn ($16.4bn) hostile bid this week, signalling growing hedge fund interest in the UK confectionery group f...Read more
	MEP gives City hope on EU hedge fund directive	Nov 11/09
	The woman who chairs one of the most powerful political committees in the European Parliament will propose next week that caps on hedge fund borrowings should be dumped, The Times has learnt.Sharon Bowles, whose Economic and Monet...Read more
	Boston Provident Trader Ezra Levy Arrested for Theft	Nov 11/09
	Ezra Levy, a hedge fund trader and chief financial officer of Boston Provident Partners LP, was arrested on federal charges that he stole more than $1.3 million from the Manhattan-based firm. Prosecutors accused Levy in a criminal...Read more
	Hedge fund transformation could benefit investors: Ernst & Young	Nov 11/09
	The largest hedge funds in the world say investors could actually benefit from some of the fast and furious changes the global financial crisis spurred, Ernst & Young finds in a new survey.Respondents from 100 of the world’s l...Read more
	Deutsche Bank Sees Hedge Funds Topping $2 Trillion	Nov 10/09
	Hedge fund assets may top the previous $2 trillion high by the end of next year as double-digit average returns lure investors, said Barry Bausano, Deutsche Bank AG’s global co-head of prime finance. Hedge fund ass...Read more
	Dow Jones suspends publication of equity market neutral benchmark	Nov 10/09
	Dow Jones Hedge Fund Indexes has temporarily suspended publication of the Dow Jones Hedge Fund Equity Market Neutral Strategy Benchmark until further notice. The decision to halt publication of the benchmark is a result of mar...Read more
	Expert tools for investors in alternatives	Nov 10/09
	The past 12 months have demonstrated graphically the vital importance for investors in alternatives of minimising the downside risk associated with extreme market conditions. That’s why institutional investors and fund of hedge...Read more
	Is Madoff the tip of the iceberg?	Nov 10/09
	It’s pretty easy to pass an exam if you’ve seen the exam paper beforehand. And it's even easier to become a billionaire if you’ve been tipped off about the next corporate announcement. Judging by recent developments that seems ...Read more
	Hedge fund managers ready to compromise -- survey	Nov 10/09
	Hedge fund managers say they are ready to compromise on fees and how fast they will return their clients' money, suggesting that last year's financial crisis has forced the secretive industry to open up in a hurry. Ac...Read more
	Financial innovation is Wall Street's new 'soul sickness'	Nov 10/09
	Could our headline just as easily read: "Financial innovation: Wall Street's biggest con game?" How about: Rip-off? Joke? Oxymoron? Maybe "Wall Street's big lie?" Or something darker: "Financial innovat...Read more
	Hedge Funds Are Ready for New Boom in Start-Ups	Nov 10/09
	There are tough new regulations on the horizon. There are scandals and arrests. Investors, shaken by the credit crunch, are nervous about taking risks. Yes, there has never been a better time to polish your CV, shi...Read more
	Ex-Math Professor Is America's Highest Earner	Nov 09/09
	Who was the best paid person in the U.S. last year? Not Bill Gates or Steve Jobs but the lesser known James Simons, CEO of hedge fund Renaissance Technologies. According to research firm Alpha Survey, Simons earned some US$2.5 ...Read more
	Wall Streets’ lifeblood comes under scrutiny	Nov 09/09
	Late on a Friday evening in October 2008, just before 11pm, Danielle Chiesi, a consultant to the hedge fund New Castle Partners and a sometime confidant of Raj Rajaratnam, the president of the Galleon Group, another hedge fund...Read more
	Hedge funds extend gains following upbeat economic data	Nov 09/09
	Hedge funds consolidated their upward trend in September as the Credit Suisse/Tremont Broad Hedge Fund Index returned a solid 3.04 per cent for a seventh consecutive month of positive returns, according to a report from Lipper....Read more
	CAIA launches Hong Kong branch after growing membership	Nov 09/09
	The Chartered Alternative Investment Analyst Association, an independent, not-for-profit international organisation, has launched CAIA Hong Kong, its tenth global chapter. “Hong Kong, one of the world’s premier financial centre...Read more
	This hedge fund is more like a stork than a vulture	Nov 09/09
	I had a set-to with my editor when I tried to use the word "vulture" to describe the latest $1-billion fund raised by Newton Glassman's team at Toronto-based Catalyst Capital Group. Call it a distressed-debt fund, if ...Read more
	Hedge Fund Association "Speak Up" Gains Traction on Capitol Hill	Nov 09/09
	Recent Proposed Legislation Increases Registration Requirement Assets Under Management from $30 Million to $150 Million Washington, DC - November 9, 2009 - The Hedge Fund Association, HFA, today announced ...Read more
	Hedge funds come together to prevent child abuse	Nov 09/09
	Canada’s hedge fund industry recently held its sixth annual Open Your Hearts to the Children Gala, raising more than $130,000 for the prevention and treatment of child abuse. Hedge Funds Care Canada drew more than 150 leaders ...Read more
	SEC Throws Weight at Hedge Funds	Nov 06/09
	The government has been sniffing around hedge funds for years and now, like a dog that's found where the bone is buried, it has started digging. Last month, authorities charged six in a vast insider trading ring involving New York...Read more
	Hedge fund investors worry about new names in probe	Nov 06/09
	Just when things were starting to look up for hedge funds after a rough 2008, a mushrooming insider trading scandal could prompt investors to start pulling money out again.The trading scheme uncovered at prominent hedge fund firm ...Read more
	Long/short equity managers avoid market downswings in October	Nov 06/09
	Long/short equity fund managers avoided equity market volatility in October, finishing the month in neutral territory, according to Jordan Drachman, head of research for alternative beta strategies at Credit Suisse.After record t...Read more
	Managed account assets to rise 70 per cent by 2011	Nov 06/09
	Assets in the hedge fund industry invested through managed accounts will reach USD790bn by 2011, up from USD468bn in 2009, according to research by Tabb Group.The survey of 62 US hedge funds also found that 77 per cent cited opera...Read more
	Sprott posts jump in Q3 profit	Nov 06/09
	Asset manager Sprott Inc. Thursday reported an increase in third-quarter net income despite a sharp drop in management fee revenues.Net income for the quarter ended September 30 was $5.5 million, or 4¢ a share, versus $3.7 mill...Read more
	Galleon Moves Its Portfolios to Nearly All Cash	Nov 05/09
	The Galleon Group has converted nearly all of its hedge funds into cash, as the firm seeks return money to its investors in light of its founder’s arrest on insider trading charges, according to a letter to investors obtained b...Read more
	Madoff Auditors Won't Contest SEC Charges	Nov 05/09
	The auditors for Bernard Madoff have agreed not to contest charges brought by the Securities and Exchange Commission that they enabled fraud by the now-jailed Ponzi scheme investor. According to the SEC, the auditors, David Friehl...Read more
	Hedge fund buys CanWest bonds	Nov 05/09
	One of the biggest U.S. hedge funds is building a stake in the bonds of CanWest Global Communication Corp., fuelling speculation that the fight with Goldman Sachs over the future of CanWest's lucrative specialty channels is abou...Read more
	Record quarter for fund of funds sales	Nov 05/09
	Net retail sales of fund of funds soared to their highest ever level in Q3 to £1.4bn, more than four times the £297m recorded in the same period last year. ...Read more
	mshPRIME offers reporting tools for age of transparency	Nov 05/09
	With the Madoff and other scandals still fresh in the mind and investors demanding that managers provide increased transparency, the hunt is on for software tools that meet clients’ portfolio reporting needs with a maximum of e...Read more
	RBC Capital Markets continues expansion in Asia	Nov 05/09
	RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, has hired Mike Bass as a managing director and head of fixed income and currencies, Asia (non-Japan). It has also appointed Mark Otis Zowni...Read more
	Artemis Investment Management Limited announces strategic alliance with Robson Capital Management	Nov 05/09
	Artemis Investment Management Limited is pleased to announcea strategic alliance with Robson Capital Management Inc., resulting in the launch of theRobson Alpha Scout Fund. The Robson Alpha Scout Fund provides accredited investors...Read more
	MAN Grows Managed Accounts Business By Half in Six Months	Nov 05/09
	Man Group plc today reported that its newly created multi-manager business grew assets held in managed accounts from $4 billion to $6 billion in the six months to 30 September 2009. Man’s multi-manager business, which has b...Read more
	Aima supports registration of hedge fund managers in the US	Nov 04/09
	The Alternative Investment Management Association has reiterated its support for the registration of hedge fund managers in the US and for the reporting of systemically relevant information by larger managers to national authorit...Read more
	Asian Hedge-Fund Assets Rose to $73.7 Billion in Third Quarter	Nov 04/09
	Asian hedge-fund assets increased to $73.7 billion in the third quarter, helped by the first net inflow of capital in more than a year, according to a report by Hedge Funds Research Inc. The increase in assets included $800 millio...Read more
	Hedging Against Hedges: Big Investors Grow Wary	Nov 04/09
	Less than two years ago, anything considered an alternative investment seemed to have an automatic cachet.Investors were shoving one another aside to get into the top hedge funds and private equity offerings. Venture capitalists w...Read more
	Hedge funds face investor war on fees	Nov 04/09
	Institutional investors are going to gang up on "arrogant" hedge funds, a pension fund chairman warned, as investors increasingly press for changes that would link lucrative fees more closely to genuine outperformance.A ...Read more
	Hedge funds on track for best year since 1987, says Hennessee	Nov 04/09
	Hedge funds are on track for one of their best years since the Hennessee Group started monitoring performance since 1987, according to a study by the group. The Hennessee Hedge Fund Index is up 20.9 per cent through September rel...Read more
	N.Y. Pension Aims $1 Billion at Hedge Funds	Nov 04/09
	The New York State Pension Fund is pouring money back into hedge funds, planning to invest more than $1 billion by the end of the year, Crain’s New York Business reported.The pension fund recently closed a $50 million investment i...Read more