General News

	GLG launches fund to buy company debt	Sep 29/09
	GLG Partners, one of London’s largest hedge funds, has launched a new fund to invest in the debt of troubled UK and European companies.The fund will be one of the most significant launches in London so far this year, as a...Read more
	Cape man accused in $350,000 swindle	Sep 29/09
	Three years after being fired, fined and professionally sanctioned for misappropriating clients' funds, Hyannis resident and former financial adviser Shane Selewach is facing criminal charges for allegedly stealing nearly $3...Read more
	Hedge funds cut incentive fees	Sep 29/09
	Performance fees are the lifeblood of the hedge fund industry, but last year's stock market tsunami is changing the way some Canadian players do business this year, or forever. Front Street Capital Corp., Northern Rivers Capita...Read more
	Top hedge fund clones add to fee pressure	Sep 28/09
	The performance of synthetic hedge fund clones is strong enough to start to put pressure on the high fees charged by many real hedge funds, according to a comprehensive academic review of the controversial concept. A swathe o...Read more
	Phibro Fund Rose 22% as Commodity Indexes Fell, Document Shows	Sep 28/09
	Phibro LLC, the Citigroup Inc. energy-trading unit that the bank may be forced to sell, said funds that it manages for outside investors rose 22 percent since the start of 2008 as commodity indexes fell, a solicitation ...Read more
	City hedge fund exodus begins	Sep 28/09
	BREVAN HOWARD, the UK’s largest hedge fund, is planning to open an office in Switzerland, perhaps signalling the beginning of a mass exodus by financial groups from London. The hedge fund, which has assets under management of...Read more
	For Perots, $1 billion gain will ease year of financial and legal wrangling	Sep 28/09
	The Perot family is in line to snare $1 billion by selling Perot Systems Corp. to Dell Inc. – a balm for one of Dallas' wealthiest families after a year of bruising setbacks. In April, Ross Perot Jr.'s real estate developm...Read more
	Nadel Again Seeks Release From Jail While Awaiting Fraud Trial	Sep 25/09
	Arthur Nadel, the Florida hedge- fund adviser who has been jailed since January, again asked a judge to release him on reduced bail while he awaits trial. A lawyer for Nadel, a money manager and founder of Scoop Manageme...Read more
	Slumping Energy Demand Has Bottomed, Fund Manager Melis Says	Sep 25/09
	The decline in energy demand and drop in German electricity prices may have ended, according to the chief executive officer of hedge-fund manager Energy Capital Management BV. “The forward prices are at lows, the spot price...Read more
	IRS Tells Auditors to Look at Loans by Offshore Funds	Sep 25/09
	The Internal Revenue Service told its auditors in Manhattan to develop cases against offshore hedge funds and foreign companies it said are trying to avoid taxes on income from loans they make in the U.S. The agency, i...Read more
	Hedge Fund Fees Remain Intact, Report Finds	Sep 25/09
	Investors who expected hedge funds to prune fees after a particularly disastrous showing in 2008 may be disappointed by a recent study. The Wall Street Journal reported that a study compiled by the French fund-of-hedge-funds ...Read more
	Barclays, GLG Partners, Abu Dhabi Among Lehman Claimants	Sep 24/09
	The list of investors filing billion dollar claims against Lehman Brothers illustrates the global damage caused by its collapse, with companies from the United States, Europe and Abu Dhabi making some of the largest demands. ...Read more
	Stung by Crisis, Asia Wakes up to Risk Management	Sep 24/09
	A year ago, when Shinsei Bank Chairman Masamoto Yashiro was asked why Japanese banks had been able to avoid the worst of the financial crisis, he dismissed it as something akin to a lucky break. Since the crisis, Shinsei and o...Read more
	Butterfield Fulcrum expands US business development team	Sep 24/09
	Butterfield Fulcrum, an alternative fund administration company, has expanded its US business development team with the addition of Christine Egan. Egan joins Bill Neville, Jim Gabriele, John Peterson and Bill Henderson under...Read more
	Hedge-Fund Assets Rose by $21.4 Billion in August	Sep 24/09
	Hedge-fund assets increased by $21.4 billion in August as managers completed their best year- to-date return in almost 10 years, driven by rising stock markets amid signs of economic recovery, Eurekahedge Pte said. ...Read more
	Hedge funds seek the Swiss life	Sep 24/09
	Funds seeking lower tax and lighter regulation - and a headquarters far from public anger about bonuses - are fleeing to Switzerland, writes Elena Moya. VISITORS to Pf...Read more
	Changing demographics look to alternative market	Sep 24/09
	An increasingly ageing population will mean that alternative investments will be a more significant asset class for retail investors, according to the Alternative Investment Management Association. ...Read more
	Touradji Rejects Amaranth Claim, Says It Acted ‘Professionally’	Sep 24/09
	Touradji Capital Management LP said it acted “professionally and appropriately” in all transactions with Amaranth Advisors LLC, which is suing for at least $350 million over claims that include breach of contract and misapprop...Read more
	Hedge Fund Inflows Are $12.6 Billion in August, Eurekahedge Says	Sep 24/09
	Hedge funds assets increased by $21.4 billion in August, rising for a fourth straight month, according to Eurekahedge Pte. Net inflows into the industry totaled $12.6 billion, while gains through performance were $8.8 billio...Read more
	Acorn launches monthly transparency report	Sep 24/09
	Report spurred by investor demand, hedge fund manager says...Alternative investment manager Acorn Global Investments providing more transparency to meet investor demand, the company said Wednesday.Investors in the Acorn Divers...Read more
	Blackheath Managed Futures Fund Launched in Canada	Sep 24/09
	Blackheath Fund Management Inc. is proud to launch Blackheath Futures Fund LP, a managed futures fund for Canadian accredited investors. Our new fund has adopted the same Investment Strategy used by Blackheath Offshore Limited...Read more
	Fortitude Assets Slump by Half After Madoff-Linked Redemptions	Sep 23/09
	Fortitude Capital, an Australian hedge fund run by a former Citigroup Inc. trader, has been unable to arrest a slump in assets after redemptions from some investors who lost money with Bernard Madoff helped cut its mana...Read more
	Hedge fund sells part of its New York Times stock	Sep 23/09
	Harbinger Capital Partners LLC says it has sold part of its 20 percent stake in The New York Times Co., but still considers the company a core holding. The hedge fund said in a securities filing this week that it sold 5 million...Read more
	Credit Suisse/Tremont index up 1.53 per cent in August	Sep 23/09
	The Credit Suisse/Tremont Hedge Fund Index finished up 1.53 per cent in August as wider dispersion in the markets provided opportunities for hedge funds. This marks the sixth straight month of positive performance for the ...Read more
	Passport-Waving Socialist Challenges London’s Power in Europe	Sep 23/09
	European Socialist Party President Poul Nyrup Rasmussen waved his red passport at hundreds of hedge-fund and private-equity managers in London’s 600-year-old Guildhall to assert his challenge to the city’s financial power. ...Read more
	Hedge Fund Inflows Are $12.6 Billion in August, Eurekahedge Says	Sep 23/09
	Hedge funds assets increased by $21.4 billion in August, rising for a fourth straight month, according to Eurekahedge Pte. Net inflows into the industry totaled $12.6 billion, while gains through performance were ...Read more
	Hedge fund client base switches to institutions, says IAM	Sep 22/09
	The main client base of hedge funds is now institutional rather than private, according to Morten Spenner, chief executive at International Asset Management. As a result, Spenner says there will be less appetite for leverage, ...Read more
	Sophis and J.P. Morgan launch portfolio and risk management tool	Sep 22/09
	Sophis, a provider of portfolio and risk management solutions, and J.P. Morgan’s prime brokerage business have introduced iSophis, a new technology that will allow hedge funds to manage their portfolios across multiple prime br...Read more
	Amaranth Advisors Seeks at Least $350 Million From Touradji	Sep 22/09
	Amaranth Advisors LLC, the hedge fund that lost $6.6 billion three years ago this month, sued Paul Touradji and his employees, seeking at least $350 million for claims including breach of contract and misappropriation of trad...Read more
	Fixed-income hedge fund trading activity declines	Sep 22/09
	U.S. fixed-income trading volume increased 15% from 2008 to 2009, despite a significant decline in hedge fund trading activity, according to the results of Greenwich Associates’ 2009 North American Fixed Income Investors Study....Read more
	New Credit Suisse/Tremont Commentary Offers Insight Into August Hedge Fund Performance	Sep 22/09
	The Credit Suisse/Tremont Hedge Fund Index finished up 1.53% in August as wider dispersion in the markets provided opportunities for hedge funds. This marks the sixth straight month of positive performance ...Read more
	Should Hedge Fund Share Repurchase/Transfer Programs Be Arm's Length Transactions?	Sep 22/09
	Unintended Consequences:Should Hedge Fund Share Repurchase/Transfer Programs Be Arm's Length Transactions? Introducing CogentMarkets Hedge Fund Auction Mechanism We are hearing of more and more hedge fund managers taking...Read more
	FSA and SEC to debate market rules	Sep 21/09
	The Financial Services Authority (FSA) and US Securities and Exchange Commission (SEC) are set to debate regulatory requirements for "key market participants" such as hedge funds. Hector Sants, chief executive o...Read more
	Calls for changes to EU funds directive	Sep 21/09
	The Financial Services Authority (FSA) has thrown its support behind the EU Alternative Investment Fund Management Directive, but said there was scope for "technical improvement" in four key areas. ...Read more
	Investors advised to do their homework on hedge funds	Sep 21/09
	When the stock market is soaring and your I-want-a-big-piece-of-that meter goes full tilt, it's easy to be duped. Especially if you're the kind who is easily seduced by the not-for-everyone stamp that's a very real part of inve...Read more
	Hedge fund closures still outpace launches	Sep 21/09
	The hedge fund industry continues to shrink — though the pace is slowing a bit, according to the latest report from Hedge Fund Research Inc. During the three-month period ended June 30, the industry saw 182 launches and 292 liqu...Read more
	Structured wisdom	Sep 21/09
	“WHEN an old man dies, a library burns down.” A client, Mr C had attributed this to an old Kenyan saying. It refers to the wealth of experience, knowledge, skills and wisdom that is lost when an elder dies. Of course, if the el...Read more
	InfoHedge Powers Lighthouse Prime Hosted Platform	Sep 21/09
	Hosted IT Infrastructure Solution Delivers SEC Compliance, Disaster Recovery, Market Data Connectivity and Application Hosting to Lighthouse Prime Clients NEW YORK, September 21, 2009 - Lighthouse Financia...Read more
	Former Norbourg president Vincent Lacroix pleads guilty to 200 criminal charges	Sep 21/09
	MONTREAL - After spending years steadfastly proclaiming his innocence, accused trust-fund scammer Vincent Laroix shocked a courtroom on Monday by pleading guilty to 200 fraud-related charges. The former head of Norbourg...Read more
	IOSCO publishes standards for funds of hedge funds	Sep 19/09
	The International Organization of Securities Commissions (IOSCO) has published standards for funds of hedge funds (FoHFs) regarding liquidity risk and due diligence. IOSCO says FoHF managers should "make reasonable enquiries&...Read more
	Hedge fund investors worried EU plans limit choice	Sep 18/09
	Institutional investors said on Thursday that draft European Union rules that could bar non-EU fund managers from marketing their products in the region could limit their investment choices and upset their portfolio balance. ...Read more
	New Hedge Fund Buys Barclays Toxic Assets With $12.6B Loan From Barclays	Sep 18/09
	A group of 45 Barclays bankers have left the British banking giant to found their own hedge fund, which has in turn agreed to buy more than $12 billion in toxic assets from Barclays, primarily with Barclays’ own money. New Yo...Read more
	Hedge fund liquidations slow, managers earn less	Sep 18/09
	Hedge fund liquidations drop 22 pct in Q2 More managers set up in Q2 than Q1 *Incentive fees drop for a third consecutive quarter Hedge funds are going out of business less quickly this year than last year, according ...Read more
	US and UK regulators agree to work together on hedge funds	Sep 17/09
	The Financial Services Authority has agreed to work with the Securities and Exchange Commission, the leading US financial regulator, in an effort to better regulate the work of cross-border hedge funds. The Cit...Read more
	Barclay Hedge Fund Index up 2.06 per cent in August	Sep 17/09
	Hedge funds rose 2.06 per cent in August, according to the Barclay Hedge Fund Index compiled by BarclayHedge. 'After recording six straight months of positive returns, the Barclay Hedge Fund Index has now gained 16.48 percent...Read more
	Martin Currie says hedge flows above pre-crisis levels	Sep 17/09
	Scottish fund firm Martin Currie is seeing investors put money into its hedge funds at a faster rate than before the credit crisis, an executive told Reuters, in another sign the industry is reviving. After $300 billion ...Read more
	Hedge fund strategies gain ground as stock markets edge upward	Sep 15/09
	New Page 1 Hedge funds continued their winning streak in August, with all hedge fund strategies except dedicated short-bias (-1.22 per cent) ending the month in positive territory, according to a report by Lipper....Read more
	Watchdogs spell out hedge fund investor protection	Sep 15/09
	New Page 1 Global market regulators published new rules on Monday spelling out how small investors putting money into funds of hedge funds should be protected. The International Organisation of Securities Commiss...Read more
	Hedge fund firms Man, Cheyne launch onshore funds	Sep 15/09
	New Page 1 Hedge fund firms Man Group (EMG.L) and Cheyne Capital are launching funds that will let a wider pool of investors access their strategies and which will also avoid proposed tough new EU rules. The la...Read more
	A Leg To Stand On hosts Hedge Fund Rocktoberfest wildcard play-off	Sep 15/09
	New Page 1 The warm up event for the sixth annual Hedge Fund Rocktoberfest is scheduled to take place on 16 September at Sullivan Hall in Manhattan. Four bands made up of members of the hedge fund and financial...Read more