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Monday, December 10, 2018

General News




Silver Lining: Jim Rogers Talks Up Commodities
Oct 13/09
Jim Rogers' daughters may not have been born with silver spoons in their mouths, but they've got them now. Not silver spoons, exactly, but silver bullion. "My little girls don't own stocks — they own commodities," he ...Read more



Back To Basics With Equity Market Neutral Hedge Funds
Oct 13/09
Since Alfred Winslow Jones started the first hedge fund in 1949 by investing in long and short equity positions, hedge funds have grown into an impressive force within the asset management business. As returns grew, managers m...Read more



Russians gripped by YouTube video claims of government role in hedge fund scam
Oct 13/09
Thousands of Russians are watching a YouTube video that accuses their government and officials of high corruption.A Russian version of a video by Hermitage Capital, the London-based hedge fund claiming to be victim of a $230m (£...Read more



Citigroup Receives Wrist Slap for Helping Hedge Funds Avoid Taxes
Oct 13/09
Bloomberg reports Monday that Citigroup (C) agreed to pay $600,000 in fines related to a charge Finra brought against the bank. The regulator claimed that Citigroup didn’t properly supervise specific transactions of foreign cli...Read more



Hedge funds and clones
Oct 13/09
A new research paper sheds light on recent developments on financial products that are linked to hedge funds. In How do hedge fund clones manage the real world? (available at www.caia.org) researchers Nils Tuchschmid, Erik Waller...Read more



Canadian hedge funds back from the abyss
Oct 13/09
what are we looking for?The alpha dogs among Canadian hedge funds this year.While most were also losers in 2008 amid a market crash, let's see if they managed to make money over the tumultuous 12 months ended in September. toda...Read more



RBC Hedge 250 Index Returned 2.20% in September 09
Oct 13/09
RBC Capital Markets today reported that for the month of September 2009 the RBC Hedge 250 Index® had a net return of 2.20 per cent. This brings the year-to-date return of the Index to 17.44 per cent. These returns are estima...Read more



A tale of two hedges: Playing safe and playing for profit
Oct 10/09
AVNER MANDELMAN Special to The Globe and Mail Avner Mandelman is president and chief investment officer of Giraffe Capital Corp. and the author of The Sleuth Investor. amandelman@giraffecapital.com ***During the decade th...Read more



Despite '08 Pain, the Rich Still Like Hedge Funds
Oct 09/09
It appears nothing—not losses, redemption gates or lofty fees—can deter the rich from stashing their cash in hedge funds. A year after crumbling markets triggered losses and fund managers drew fire for blocking redemptions, we...Read more



Hedge funds’ AUM to total USD1.5trn in 2010, says Tabb
Oct 09/09
Hedge funds’ assets under management will total USD1.5trn in 2010, according to a report by Tabb Group. The report says the prime brokerage market is still significant and Tabb expects prime broker revenues to top USD10bn in 2010...Read more



Aima calls for industry-wide registration
Oct 09/09
Hedge fund managers across the board are willing to submit to greater scrutiny and should all be required to register with domestic regulators, according to the Alternative Investment Management Association. A move towards blank...Read more



Next Phase of the Post-Lehman Evolution of Prime Brokerage
Oct 09/09
It’s a year after the hellish nightmare of the Lehman Brothers implosion when billions of hedge fund assets were frozen and prime brokerage relationships were forever changed. Yet, after setting off a fury of account openings,...Read more



Canadian Securities Regulators Propose IFRS-Related Rule Changes
Oct 09/09
In preparation for the changeover in 2011 to International Financial Reporting Standards (IFRS), Canadian securities regulators have proposed revisions to National Instrument 52-107, Acceptable Accounting Principles and Auditin...Read more



After Portus, back to business again
Oct 09/09
When Portus Alternative Asset Management Inc. collapsed in 2005, more than 20,000 investors were left in limbo and the scandal tarnished the reputation of the Canadian hedge fund industry. Now Portus co-founder Michael Mendelso...Read more



Lacroix sentenced to 13 years
Oct 09/09
Ex-Norbourg boss Vincent Lacroix was sentenced to 13 years in prison on Friday for bilking clients out of more than $100 million. Quebec Superior Court Justice Richard Wagner's sentence came about three weeks after Lacroix...Read more



SEC And Manhattan DA Investigate Southridge Capital
Oct 08/09
Stephen Hicks' firm specializes in private investments in public equities, known as PIPEs. Southridge Capital Management, a Ridgefield, Conn., hedge fund firm run by Stephen Hicks that primarily employs an ...Read more



Active credit funds seen outperforming in 2010
Oct 08/09
* Correlation is declining as asset prices diverge * Default risk remains, while margin for error thinner * Market rife with dislocations, opportunities Active credit fund managers are set to enjoy stellar returns in 2010...Read more



Hedge funds rise 3 pct in Sept, up 17 pct in '09
Oct 08/09
Hedge funds on average climbed 3.0 percent last month, continuing a rebound that adds up to a 17 percent gain so far this year, according to Hedge Fund Research data released on Wednesday. It was the seventh consecutive mon...Read more



AIMA claims “broad consensus” on EU hedge fund directive
Oct 08/09
For UK-based opponents of the controversial EU hedge fund directive, there are signs the draft could be overhauled. Hedge fund industry body AIMA said today “there is now a broad consensus among European policymakers that ...Read more



Despite '08 pain, the rich still like hedge funds
Oct 08/09
It appears nothing -- not losses, redemption gates or lofty fees -- can deter the rich from stashing their cash in hedge funds. A year after crumbling markets triggered losses and fund managers drew fire for blocking redemp...Read more



Asian Hedge-Fund Assets to Double on New Money
Oct 07/09
Asian hedge funds will attract a “wave” of new money that could more than double the industry’s assets from its peak of $250 billion as the region leads the world’s emergence from the deepest recession since World War II, acco...Read more



Former Och-Ziff, Ivory Senior Asia Managers Start Hedge Fund
Oct 07/09
Raaj Shah, an ex-partner of Och-Ziff Capital Management Group LLC, co-founded a hedge fund last month trading under-researched and mispriced Asian securities affected by events such as mergers, tax changes and forced se...Read more



U.K. Church Is Unlikely Defender of Hedge Funds
Oct 07/09
The Church of England has emerged as an unlikely defender of the hedge-fund industry against the prospect of new regulations from the European Union. Only last year, the Archbishop of York was calling hedge funds "bank rob...Read more



Hedge-Fund Bets On Hyperinflation
Oct 07/09
Several sources are reporting on hedge fund Hayman Advisors, L.P.'s latest letter to its clients (via The Pragmatic Capitalist), explaining its latest investment strategy. The hedge fund received attention for...Read more



Hedge Fund Assets May Rise 10% in Second Half
Oct 07/09
After suffering through a tough period of falling asset values and client withdrawals, the hedge fund industry may see assets rebound by 10 percent or more in the second half of the year, according to one data provider. Hedge...Read more



Hedge fund assets seen rebounding
Oct 06/09
Global hedge fund industry assets could recover by 10 percent or more during the second half of 2009, according to one data provider, after a tough first half in which investors continued to pull out their cash. HedgeFund I...Read more



Bear Stearns Fund Judge to Weigh Lawyer’s Conflict
Oct 06/09
A judge scheduled a hearing on whether a lawyer for Matthew Tannin, a former Bear Stearns Cos. hedge fund manager accused of fraud, has a conflict of interest that disqualifies her from participating in the case. Prosecu...Read more



Hedgie status hit for London
Oct 06/09
LONDON’S presence in the “billionaire’s club” of giant hedge fund managers slipped during the first half of the year while New York’s stayed the same, according to HedgeFund Intelligence (HFI). The group said London’...Read more



Pellegrini 80% Return Proves Paulson Protege No Fluke at Fund
Oct 06/09
Paolo Pellegrini has a nose for trouble. He saw it in rising housing prices in early 2006, when he cranked through decades of home price data and concluded the bubble was poised to burst. Pellegrini then helped engineer a ...Read more



Toscafund sells Aberdeen stake to Japanese
Oct 05/09
Toscafund, which earlier this year came under pressure as investors withdrew their cash, has halved its stake in Aberdeen Asset Management. The hedge fund, run by Martin Hughes, has slashed its shareholding in Abe...Read more



Hedge Fund Cloning - A Fourth Type of Replicator
Oct 05/09
“You don’t want to be average; it’s not worth it, does nothing. In fact, it’s less that the market. The question is, ‘How do you get to be first quartile?’ If you can’t, it doesn’t matter what the optimizer says about asset ...Read more



Global HF assets slip 8.5% to $1.67 Trln in 1H 2009
Oct 05/09
Assets in global hedge funds slipped a further 8.5% during the first half of 2009 to reach $1.67 trillion by July, according to new research by HedgeFund Intelligence. In the second quarter, HFI said it became increasingly clear t...Read more



Texas hedge fund manager buys Northwater businesses
Oct 05/09
Crestline Investors, Inc., a Fort Worth, Tex.-based alternative investment manager, has acquired certain assets from Toronto's Northwater Capital Management, Inc. and will open a Canadian office to serve that business, the compani...Read more



Proposed Front Street merger
Oct 05/09
Front Street shareholders are being asked to consider a merger between Front Street Mutual Funds Ltd. and Front Street Special Opportunities Canadian Fund Ltd. The merger would allow investors to switch their investments between t...Read more



Hedge fund strategies explained
Oct 02/09
Players in the $1.4 trillion hedge fund industry employ a huge array of tactics in their efforts to maximise returns. Below is a summary of the main strategies and their performance in the eight months to end-August. ...Read more



Private investors prove boon for hedge fund's margins
Oct 02/09
Man Group, the world's largest listed hedge-fund firm, said that slowing outflows helped to lift assets to an estimated $43.8bn (£27.2bn) at the end of September – at the top end of forecasts – boosting its shares. ...Read more



Bearish Funds Set for Redemptions, Cramer Predicts
Oct 02/09
Jim Cramer, colorful market pundit, is betting that hedge funds who made bearish calls are about to be hit with a wave of redemptions that will prove fatal. In the same way that bullish funds were battered last October by burn...Read more



Bankrupt Cayman Islands to get £38m bail-out
Oct 02/09
The offshore centre of choice for the world's hedge funds has admitted it may have to begin a new life – as a tax haven with taxes. After lengthy wrangling, the British overseas territory on Wednesday confirmed that it ha...Read more



Funds Try to Ward Off New Regulations
Oct 01/09
Hedge funds, trying to separate themselves from the big Wall Street banks, are stepping up their efforts to head off new regulation from Washington. Representatives of the industry’s main lobbying group met on Wednesday with ...Read more



Evolution Said to Hire Golden State Team for New Fund
Oct 01/09
Evolution Capital Management LLC, a U.S.-based hedge fund specializing in Asian equities, has hired a team of managers from Golden State Asset Management, according to a letter to investors, as it starts a new U.S.-focused...Read more



Fund managers cut equities to 7-month low: poll
Oct 01/09
Leading global investors cut equity holdings to their lowest level since February and boosted bonds and cash in September, a Reuters poll showed, as they grew nervous about adding more risky assets after a broad rally. Fort...Read more



Man Group shares soar on hopes of recovery
Oct 01/09
The world's biggest listed hedge fund manager said its assets are growing again after 15 months of decline, signalling a recovery after the sector's worst year for a decade. Man Group, which is seen as a bellw...Read more



Cramer on BloggingStocks: Here comes the death of the bearish funds
Oct 01/09
TheStreet.com's Jim Cramer says this year will see the mirror image of last year, when redemptions ended the game for many managers. One year ago today, a quarter ended that put hundreds of bullish hedge funds out of bus...Read more



Brazil’s Biggest Fund Manager Bets on Commodity Rally
Sep 30/09
Oil prices and Brazilian stocks have room to rally as investors underestimate the speed of the global economic recovery, said Joao Ayres Rabello, the president of BB DTVM, the nation’s biggest asset-management firm. Re...Read more



Adaptec says Steel Partners would gut company
Sep 30/09
* Adaptec fires back against Steel Partners plan * Adaptec say Lichtenstein motivated by own fund struggles Adaptec Inc (ADPT.O), target of a proxy war led by Warren Lichtenstein's Steel Partners, said on Tuesday th...Read more



Bubble Redux?
Sep 30/09
An interesting piece in the Financial Times asks whether the recent revival in the markets amounts to another speculative bubble in the making. “The rally has been achieved with global economic growth barely above...Read more



Hedge funds find new sweet spot in sugar
Sep 30/09
Sugar is the new crude oil for investment-hungry hedge funds, which are pushing sugar prices near 30-year highs and ushering new global shortages. After their infamous and massive bets on crude oil sent prices doubling and b...Read more



Hedge Funds Reborn
Sep 30/09
Launches of new hedge funds set to rise for the first time since 2005.LONDON -- Hedge fund managers (and would-be hedge fund managers) may finally have reason to celebrate this year -- new fund launches are on the ...Read more



London loses hedge fund market share to New York
Sep 30/09
After six years of gaining market share in the total assets managed by hedge fund managers London has lost share, according to new data from International Financial Services London, a promotional agency for UK financial serv...Read more



U.S. Says It Has ‘Proof’ of Crimes by Cioffi, Tannin
Sep 29/09
Prosecutors said they have “direct proof” that former Bear Stearns Cos. hedge fund manager Ralph Cioffi used his investment in a fund he controlled to lie to a bank and obtain a $4.2 million line of credit for a condominiu...Read more

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