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Monday, December 10, 2018

General News




Patrick Dailey charged with operating multi-million dollar fraudulent commodity pool
Jul 09/09
The US Commodity Futures Trading Commission has charged Patrick J. Dailey of Dana Point, California, and his company, Strongbow Investments of Austin, Texas, with operating a multi-million dollar fraudulent commodity pool and f...Read more



City targets US help in EU hedge fund fight
Jul 09/09
The EU directive, a response to public anger at the excessive risk-taking that led to the credit crisis, would require many hedge funds and private equity firms to register with regulators and disclose more about themselves ...Read more



Mid-Year Hedge Fund Review
Jul 09/09
According to the Absolute Return database, in the first half of the year, hedge funds continued to generate strong returns, up an estimated 6.33% this year. June was generally a flat month, up an estimated .40%, with about...Read more



UBP Hires Two Fund Executives in Effort to Rebound From Madoff
Jul 08/09
Union Bancaire Privee, the private Swiss bank that lost $700 million with Bernard Madoff, hired two executives for new senior jobs in its fund-management unit as it seeks to restore investor confidence. Sara Sprung, 46,...Read more



Madoff Trustee Says Vizcaya Hedge Fund Ignored Suit Against It
Jul 08/09
The trustee liquidating Bernard Madoff’s investment-advisory business told a judge that British Virgin Islands-based hedge fund Vizcaya Partners Ltd. missed a deadline to respond to a lawsuit accusing it of taking $150 mill...Read more



U.S. regulator to identify hedge fund bets in commods
Jul 08/09
The regulator of U.S. commodity markets said on Tuesday his agency's weekly Commitments of Traders report will be revamped to include hedge fund positions for better transparency. "Enhancing the quality of information ...Read more



McCarty, Who Foresaw Bear Stearns Collapse, Plans Hedge Fund
Jul 08/09
Michael McCarty, former chief equity and options strategist at Meridian Equity Partners Inc. in New York, plans to start a hedge fund next month that will make bets on price discrepancies between similar exchange-traded fu...Read more



Meriwether Said to Shut JWM Hedge Fund After Losses
Jul 08/09
John Meriwether, who roiled global markets when Long-Term Capital Management LP collapsed in 1998, plans to shut his current hedge fund, according to a person familiar with the matter. JWM Partners LLC is closing its...Read more



Hedge fund gains hit nine-year high
Jul 07/09
• Highest-performing hedge funds invested in Hungary and India • Pension funds have continued to back hedge funds Hedge funds enjoyed a bonanza in May with gains at a nine-year high, according to ind...Read more



Madoff Trustee Seeks $1 Billion Harley Default Award
Jul 07/09
The trustee liquidating Bernard Madoff’s investment-advisory business asked a judge for a default ruling against Harley International Ltd., arguing that the hedge fund failed to respond to a lawsuit accusing it of taking $1...Read more



Ospraie’s Anderson Said to Start Hedge Funds With $100 Million
Jul 07/09
Dwight Anderson, the commodities investor who liquidated his Ospraie Fund last year after a 39 percent loss, started two hedge funds this month with about $100 million, according to two people familiar with his firm. Osp...Read more



Cayman fund managers respond to SEC proposals
Jul 07/09
Hedge fund experts in the Cayman Islands have reacted favourably to last week’s proposals by the Inspector General of the US Securities and Exchange Commission (SEC) to increase fund regulation. The SEC has proposed that r...Read more



Texas Hedge Fund Fraudster Pleads Guilty
Jul 07/09
A Texas hedge fund manager has pleaded guilty to running a $14 million Ponzi scheme. Rod Stringer last week waived indictment on the money laundering charges. He faces up to 10 years in prison and a $250,000 fine. According ...Read more



Macquarie, ING Top Alternative Asset Managers for Pension Funds
Jul 07/09
Macquarie Group Ltd., ING Real Estate Investment Management and Morgan Stanley are the three biggest managers of alternative assets for pension funds, according to a survey published by Watson Wyatt Worldwide Inc. Gl...Read more



Hedge-fund industry 2.0 taking shape
Jul 07/09
There are signs of life returning to the hedge-fund industry. Assets under management are rising. New funds are being launched. Some are even making money. Reports of hedge funds' demise are exaggerated even if it isn't quite t...Read more



More bidders interested in Porsche VW stake
Jul 06/09
Five more potential bidders have emerged for a Porsche-owned derivatives package which controls Volkswagen (VOWG.DE: Quote, Profile, Research) shares, Porsche (PSHG_p.DE: Quote, Profile, Research) told German paper Han...Read more



A Taste for Risk—Again
Jul 06/09
It’s amazing the difference a rally can make in investors’ appetite for risk. A few months ago, mutual-fund investors were yanking money out of stocks and high-quality corporate-bond funds and parking it in safer places, like ...Read more



RBC Dexia to provide shareholder services for Arrow Hedge
Jul 06/09
RBC Dexia Investor Services has been selected by Arrow Hedge Partners to provide shareholder services for a portfolio of funds in Canada. Arrow Hedge Partners is a Canadian-based investment management company that provides it...Read more



Standard and Poor's removes ratings on fund of hedge funds
Jul 06/09
Standard and Poor’s has removed its ratings on nine single and multi-manager alternative strategy funds at the request of the managers ahead of a sector review later this month.Some of the fund of hedge funds have had their ra...Read more



Hedge fund clones grow in appeal
Jul 06/09
Pioneers of hedge fund replication are reporting rising interest as investors consider returning to the asset class but remain wary of the underlying industry’s poor record on liquidity and transparency and its sky-high fees.St...Read more



BetaPro to sell minority stake in AlphaPro subsidiary
Jul 03/09
Deal with National Bank expected to close later this summer BetaPro Management Inc. has entered into an agreement to sell 20% of its AlphaPro Management Inc. subsidiary to National Bank Financial Group, BetaPro said Thursd...Read more



Hedge funds on a refund policy
Jul 03/09
Hedge fund investors are developing new fee structures around long-term performance - putting in place a "refund" clause if the hedge manager underperforms. The latest State Street Vision report on the sector found ...Read more



Tahan Capital Readies Asian Credit-Focused Hedge Fund
Jul 03/09
Alternative asset management firm Tahan Capital Management is gearing up to launch an Asian-focused hedge fund that invests in Asian high yield/distressed securities, credit long/short, and macro strategies. The Tahan Capita...Read more



Fears That Madoff May Be 'Taken Out' By Fellow Inmates
Jul 03/09
Bloomberg reports that $65bn fraudster Bernie Madoff may need to look out for himself in prison. Bernie could be in danger from fellow inmates, as the majority of those banged up with him will be serving time for violent ...Read more



Och-Ziff Loses $800 Million to Withdrawals From Its Hedge Funds
Jul 03/09
Och-Ziff Capital Management Group LLC lost about 3.7 percent of the money it manages in June because of investor withdrawals from its hedge funds. Assets under management declined $800 million in the month to $20.7 billion...Read more



CFA Institute launches European Investors Working Group
Jul 02/09
The European Investors Working Group has met for the first time in Brussels to set the agenda for the group's contribution towards creating an efficient, effective and globally competitive European regulatory model. The EIWG ...Read more



Hedge fund investors to demand more data
Jul 02/09
Many hedge fund investors burned by last year's market meltdown will likely demand a system of checks and balances in which outsiders keep a closer watch over assets, data released on Wednesday show. Pension funds, en...Read more



A Unique Survey of Compensation Practices in the Hedge Fund Industry
Jul 02/09
Grahall Partners, LLC recently released to participants the results of the 2009 Survey of Hedge Fund Compensation Practices. The survey was developed in collaboration with Kleinberg, Kaplan, Wolff & Cohen, P.C. and UBS Prim...Read more



Boost hedge fund, accounting oversight: SEC watchdog
Jul 02/09
The U.S. Securities and Exchange Commission should tighten regulation of hedge funds and other investment advisers in the wake of its failure to stop Bernard Madoff's $65 billion Ponzi scheme, an internal investigator for the ag...Read more



Madoff's Investors Don't Deserve Compensation or Sympathy
Jul 02/09
The WSJ is issuing more Madoff victim propaganda. It is interesting to see the WSJ advocating free markets while slyly supporting special treatment for rich investors who failed to follow basic financial advice. Remember: Mado...Read more



Marketcetera gives hedge funds cloud-based trading
Jul 02/09
If any class of financial-services firm should have become extinct in 2008, it's the hedge fund. Hedge funds bled $154 billion in 2008, according to Lipper Hedgeworld, with 1,500 hedge funds closing shop, as reported by The New Y...Read more



State Street Releases Vision Reports on Hedge Funds and Private Equity Industry
Jul 02/09
Reports Examine Industry Challenges, Long-Term Outlook BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT), the world’s leading provider of ...Read more



BluMont merges funds
Jul 02/09
In an effort to streamline its fund line-up, BluMont Capital Corporation plans to merge its Canadian Opportunities Fund and Hirsh Long/Short Fund with the BluMont Core Hedge Fund. BluMont believes that the termination of the Canad...Read more



CAIA membership surpasses 3,100 designees
Jun 30/09
The Chartered Alternative Investment Analyst Association has welcomed the Class of March 2009, a group of 650 new members who received the CAIA designation during the most recent examination period. With the addition of these...Read more



Measurisk crosses 1,000 hedge fund milestone
Jun 30/09
Risk analytics provider Measurisk, an affiliate of J.P. Morgan Worldwide Securities Services, has crossed an industry milestone in modelling the full positions of over 1,000 hedge funds. This makes it the largest position-base...Read more



Hedge funds post their best monthly returns in nine years
Jun 30/09
HEDGE funds posted their best monthly returns in over nine years in May as an appetite for risk returned to the industry, according to data released yesterday.The Credit Suisse/Tremont Hedge Fund Index closed up 4.1 per cent in...Read more



M&G’s Dobell blasts ‘selfish’ hedge funds
Jun 30/09
One of the most senior fund managers at Prudential has attacked hedge funds as selfish and devious and blasted derivatives as “the scourge of the modern age”. Tom Dobell, who manages the £3 billion Recovery Fund for M&a...Read more



Rebalancing is back in vogue
Jun 30/09
Pension funds, foundations and endowments that had been reluctant to rebalance their portfolios because of wild swings in the market are now starting to come around. Many of them had held off on rebalancing earlier this year, b...Read more



China and Taiwan clamp down on risky products
Jun 30/09
China is nipping equity exposure in bank wealth management products, while structured product distribution will be treated with a heavier hand in Taiwan. ...Read more



Hedge fund community worried about regulatory reform, survey reveals
Jun 29/09
Portfolio managers and executives of US hedge funds believe the industry can survive the economic turmoil, but the overriding concern - by a three-to-one margin - is that the government will go too far in its financial regulato...Read more



Hedge funds fuel return of confidence
Jun 29/09
HEDGE funds could well complete their best start to the year since 1999 in a recovery that has begun to restore investors' faith in them. Global hedge funds made an estimated 9.73 per cent in returns for the year to June 24, a...Read more



Hedge funds rally troops to raise funds for EU campaign
Jun 29/09
A GROUP of hedge funds is putting together a fighting fund to battle the planned European Commission Directive on Alternative Investment Fund Managers that they say will unfairly punish the UK hedge fund industry.The Alternativ...Read more



Ruth Madoff Agrees To Forfeit $80M
Jun 29/09
The wife of disgraced financier Bernard Madoff is reported to have given up her claim to more than $80 million in property whose forfeiture is being sought in the case against him, the Wall Street Journal has reported. Under...Read more



Madoff Should Spend Rest of His Life in Prison, Prosecutors Say
Jun 29/09
Bernard Madoff, the investment manager who pleaded guilty to masterminding the largest Ponzi scheme in U.S. history, should be sentenced to a term of 150 years in prison, federal prosecutors recommended. Madoff, 7...Read more



Starting a Hedge Fund in a Shell-Shocked Age
Jun 29/09
In a small office in London’s upscale West End, three veterans of high finance are getting ready to start their own hedge fund. It’s a scene that was common enough in the world’s financial hubs during the boom years. But in the ...Read more



Madoff sentenced to 150 years
Jun 29/09
A federal judge has sentenced Bernard Madoff to 150 years in prison for masterminding the largest Ponzi scheme ever. The sentence is the maximum that he could have received.U.S. District Judge Denny Chin was apparently unmoved by ...Read more



Arden to Manage JPMorgan Hedge Fund Assets
Jun 26/09
Arden Asset Management, the hedge fund of funds manager, said on Thursday that it had struck a deal with JPMorgan Chase to manage a $1.1 billion portfolio of hedge funds for its investment banking unit. As part of the agree...Read more



Ex-Lehman Trader to Start Credit Hedge Fund as Banks Pare Risks
Jun 26/09
Assan Din, a former Lehman Brothers Holdings Inc. credit trader, is setting up a hedge fund to trade corporate bonds and derivatives in Asia. SaKa Capital’s fund, which will have a capacity of more than $500 million, wil...Read more



REFILE-Montier quits SocGen for hedge fund -source
Jun 26/09
One of London's top analysts, James Montier, has resigned from French bank Societe Generale (SOGN.PA) to join a hedge fund, a source with knowledge of the situation said on Thursday. The source did not say which hedge fund ...Read more



Odey Blasts Brown And Regulation, Defends Hedge Funds
Jun 26/09
The head of Odey Asset Management is warning that the U.K. is in danger of becoming little better than impoverished Zimbabwe. In an interview with the Daily Mail, Crispin Odey—newly appointed co-treasurer of Britain’s right-l...Read more

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