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Monday, December 10, 2018

General News




Mass. Hedge Fund Manager Admits Running $9M Ponzi Scheme
Jun 26/09
A Massachusetts hedge fund manager has pleaded guilty to running a $9 million Ponzi scheme. Michael Regan admitted he defrauded some 70 investors in his River Stream Fund, which collapsed last year. According to federal prose...Read more



UK residential property market offers opportunity for hedge funds
Jun 26/09
By Alan Cleary, Exact Mortgage Experts The credit crunch has crippled the UK mortgage market in less than two years. Gross lending in the UK recorded by the Council of Mortgage Lenders in 2007 was £364 billion. The number f...Read more



Trio of regulators slam EC’s hedge fund regulation plans
Jun 25/09
THE EUROPEAN Commission’s (EC) proposals for regulation of the alternative investment industry are flawed, three of the world’s top regulatory reformers said yesterday.Jacques de Larosière, author of the report behind the EC...Read more



Tax haven transparency casts shadow over hedge funds
Jun 25/09
Fears that the Cayman Islands won't continue to be a welcoming home for hedge funds rise as the islands last week signed a tax information exchange agreement (TIEA) with the UK government. Hedge funds have not had a very happ...Read more



For Hedge Funds, Biggest Fear Is More Regulation
Jun 25/09
The greatest fear among hedge fund managers and executives, who have seen their industry shrink in the financial crisis, is neither the flight of wealthy investors nor ill-functioning markets but regulation, according to a s...Read more



Hedge-Fund Guy Points Toward Z-Shaped Recovery
Jun 25/09
Dear investor, our statutory obligations demand that we update you on how well we’ve taken care of your money here at Coin-Toss Investment Management. Attached to this missive is a picture illustrating our fund’s performance...Read more



Warren Buffett to CNBC: U.S. Economy In "Shambles" .. No Signs of Recovery Yet
Jun 25/09
In a live interview on CNBC today, Warren Buffett said there has been little progress over the past few months in the "economic war" being fought by the country.  "We haven't got the economy moving yet," ...Read more



A safe place for funds in troubled times
Jun 24/09
The Corporate and Institutional business division of RBC Wealth Management, the international wealth management arm of Royal Bank of Canada, has been providing custody and fund administration services in and from the Channel Is...Read more



Van Eck starts mutual fund that invests in hedge funds
Jun 24/09
SAN FRANCISCO (MarketWatch) -- Van Eck Global said Tuesday it's launching a new mutual fund that invests in hedge funds, the latest sign the mutual fund industry is expanding its offerings of alternative investments in the wa...Read more



UK hedge fund group supports US plans for registration scheme
Jun 24/09
A KEY hedge fund association has thrown its weight behind plans in the US to force the funds to be registered with regulators and disclose information to allow authorities to gauge the risk they pose to the economy.The Alternat...Read more



IFAs Look To Structured Products, Virgin Money Research Shows
Jun 24/09
Independent financial advisers believe structured products are the best bet for income-seeking investors in the current stock market climate, research by Virgin Money shows. The nationwide survey* of advisers, carried out bef...Read more



A change of Mood
Jun 24/09
Rating agency Moody’s has updated its hedge fund ratings process in the wake of the Madoff fraud and the collapse of Lehman Brothers.The firm, which rates hedge funds on their operational risks, is putting more emphasis on certai...Read more



Hedge fund managers betting Twitter will give them an edge in rapid trading
Jun 24/09
Traders are using software developed by US-based technology StreamBase to monitor "tweets" for price sensitive information. The software plugs into Algorithm-based automated trading platforms that have be...Read more



Improvements in Communication Required
Jun 24/09
Improvements in Communication Required to Help Repair Trust in Investment Management Industry, KPMG International Survey FindsNew research identifies need for transparent communication, additional risk management disclosure and th...Read more



Quantum Global Financial Corp. launches multi strategy New Renaissance Fund
Jun 24/09
Quantum Global Financial Corp. launches multi strategy New Renaissance Fund with over 37% return for its first 11 months ended May 29, 2009.  The fund uses a systematic approach that employs a new technology.  These are dynamicall...Read more



The consensus alarm bells are ringing again
Jun 23/09
Brandon Osten is an uncommon market animal – an analyst who has made a successful transition to money manager.Contrary to popular belief, good analysts do not always make good money managers.It is the same in the army – the best s...Read more



Hedge fund manager Hendry warns of market correction
Jun 23/09
The current rebound in stock markets is a bear rally and could turn by September, according to hedge fund manager Hugh Hendry, who has recently cut exposure to agricultural stocks.Hendry, who is partner and chief investment office...Read more



Hedge Funds Step Up Efforts to Avert Tougher Rules
Jun 23/09
First hedge funds battled the markets. Now they are battling Washington. After a tumultuous run for many of these funds, this normally secretive corner of Wall Street is mobilizing its money and power to fend off tougher oversight...Read more



Aima welcomes Iosco hedge fund regulation principles
Jun 23/09
The Alternative Investment Management Association has welcomed the principles for hedge fund regulation published by the International Organization of Securities Commissions.   Andrew Baker, Aima chief executive, says it suppo...Read more



Three-month delay sought on Madoff restitution-DJ
Jun 22/09
U.S. prosecutors said on Friday they need more time to examine financial records of swindler Bernard Madoff, asking a judge to postpone a decision on restitution for 90 days, Dow Jones Newswires reported. Late on Frid...Read more



Iosco publishes principles for regulation of short selling
Jun 22/09
The International Organization of Securities Commissions' technical committee has published a final report containing high level principles for the effective regulation of short selling.  The principles were developed by the ...Read more



Senator Reed introduces bill to regulate hedge funds
Jun 22/09
US Senator Jack Reed has introduced the Private Fund Transparency Act of 2009 in an effort to strengthen financial oversight of hedge funds and other private investment funds. The act aims to protect investors, identify and mit...Read more



The Citco Banks expand activities to Canada
Jun 22/09
The Citco Banks, providers of custody and fund trading for financial institutions and fund of funds, have opened a new subsidiary, Citco Bank Canada, in Toronto. Citco Bank Canada will provide custody and banking services to i...Read more



Former TD Waterhouse head takes over Madoff venture
Jun 22/09
Frank Petrilli, who ran TD Waterhouse for a decade, has no reservations about setting up his latest venture behind a door that -- until recently -- carried the infamous name Bernard L. Madoff. "The door says Surge T...Read more



Hedge funds without the '2 and 20?'
Jun 22/09
BOSTON (MarketWatch) -- Hedge funds have been shaken by poor returns and the Madoff scandal, but that hasn't stopped exchange-traded funds from launching portfolios designed to capture the risk and return characteristics of hed...Read more



Hedge funds oppose tougher rules on operations: AIMA
Jun 22/09
The hedge fund sector is in favor of enforcing registration of hedge fund managers, but opposes any rules that would inhibit the manner in which they operate, a top industry group said on Friday. "We are quite happ...Read more



Off offshore
Jun 22/09
The year 2009 may well be regarded as the high-water mark of the offshore "unregulated" alternative investment management industry for managers seeking to tap the vast quantity of capital in Europe and beyond. For...Read more



China Plotting Hedge Fund Foray
Jun 22/09
China is planning to get in on the hedge fund action. China Investment Corp., responsible for managing the $200 billion sovereign wealth fund for the country, might invest with Blackstone Group, which has a hedge fund progra...Read more



Hedge funds bet on Lehman debt
Jun 22/09
Top hedge funds have been buying up Lehman Brothers’ debt in hopes that the failed investment bank’s estate can win court battles to recover billions of dollars in collateral held by competitors with whom it did business. The ...Read more



World's biggest hedge funds oppose EU cap on leverage
Jun 22/09
A group of major hedge funds, including Man Group, Brevan Howard and BlackRock, have joined forces to oppose a European Union directive that threatens to put a cap on leverage.New rules could impose limits restricting bor...Read more



Hedge fund goes retail and becomes a mutual fund
Jun 22/09
Bull Path Long Short Fund gets SEC OK to tout performance.For as long as mutual funds have been able to sell stocks short, there have been attempts to bring more-sophisticated hedge fund strategies to the mutual fund world. But ...Read more



Morningstar 1000 Hedge Fund Index posts largest increase since inception
Jun 19/09
The Morningstar 1000 Hedge Fund Index posted its largest monthly increase in May since its January 2003 inception, rising 6.7 per cent for the month and 9.7 per cent for the first five months of the year. May was a strong month fo...Read more



Secondary market research reveals deep links between hedge fund and closed-end mutual fund industry
Jun 19/09
Investor behaviour in the hedge fund market can be better analysed by drawing on insight from the closed-end mutual fund market, according to Dr Tarun Ramadorai, Reader in Finance at the Said Business School of Oxford University. ...Read more



Hedge Funds’ "Dangerous Opponent" Rasmussen Pushes EU Crackdown
Jun 19/09
Buyout firms and hedge funds, “Read my lips: You’re going to have regulation.” So says Poul Nyrup Rasmussen, the Socialist Party president who conducted a two-year campaign for the first European Union regulations governi...Read more



Cantillon to Return $3.5 Billion to Investors
Jun 18/09
Cantillon Capital Management, the investment firm run by a former star trader at Lazard Asset Management, is planning to shut down two hedge funds that manage about $3.5 billion in assets, according to an investor with knowl...Read more



China’s Sovereign Wealth Fund Aims to Invest in Hedge Funds
Jun 18/09
Felix Chee, an adviser to China’s $200 billion sovereign wealth fund, said it aims to make investments in hedge funds. “We will have a preference for managed accounts,” he said in an interview today at the GAIM Intern...Read more



Judge May Free Nadel On Bail
Jun 18/09
After four months in jail, accused hedge fund fraudster Arthur Nadel may soon be able to go home to Florida. A federal judge in New York, where Nadel faces mail, securities and wire fraud charges, said he was inclined to redu...Read more



US regulation targets hedge funds
Jun 18/09
Hedge fund managers in the US will be required to register with the SEC and provide the regulator with information on the funds they manage under the Obama administration's plans to overhaul the US regulatory system. T...Read more



Hedge fund firm GLG says industry flows stabilised
Jun 18/09
* Industry flows stabilised after heavy outflows * Uptick in performance shows industry in better shape MONACO, June 17 (Reuters) - Investor flows out of the hedge fund industry have stabilised and the health of the indust...Read more



Hedge Fund Investors Regain ‘Whip Hand’ After 2008’s Losses
Jun 18/09
Hedge fund managers gathering in Monaco this week said they have work to do to regain investors’ confidence after the industry’s record losses last year. “We have to prove as an industry that we can provide absolute returns a...Read more



Colonial Seeks Hedge Fund to Join Gore, 452 in Alliance Stable
Jun 18/09
Colonial First State, Australia’s biggest asset manager, may seek an alliance with a hedge fund to offer customers a strategy capable of profiting in rising or falling markets. The manager of about A$130 billion ($103 bi...Read more



Lake Shore’s Baker Indicted in $300 Million Fraud
Jun 17/09
Philip J. Baker, managing director of the collapsed Chicago hedge fund Lake Shore Asset Management Ltd., was indicted by a U.S. grand jury for allegedly operating a $300 million fraud. The 27-count indictment was unseale...Read more



Hedges of Greenwich Succumb as Weed Invades Hedge Fund Capital
Jun 17/09
It isn’t just hedge funds troubling fund capital Greenwich, Connecticut. It’s hedges. A fast-growing vine known as mile-a-minute weed, or the kudzu of the North, is stalking hedges, shrubs and trees in the town 27 miles ...Read more



Hedge Fund Assets Rise for First Time in 11 Months
Jun 17/09
Hedge fund assets rose by $30.3 billion to $1.32 trillion in May, the first increase in 11 months, as the industry outperforms the global stock market rally, Eurekahedge Pte said. The industry had net inflows of $11.3 billio...Read more



Fortitude Plans New Hedge Fund as Equities Recover
Jun 17/09
Fortitude Capital, an Australian hedge-fund manager run by a former Citigroup Inc. trader, plans to start an equity-income fund to attract clients after its funds under management fell 41 percent in last year’s rout. The...Read more



Sextant Trading Ban Extended Again
Jun 17/09
For the third time, Canadian regulators have extended its trading ban against a prominent Toronto hedge fund. The Ontario Securities Commission ordered Sextant Capital Management to continue to refrain from trading until Sept...Read more



Eager hedge funds on hunt as investors take cover
Jun 17/09
Investors say they are getting more promotional material from hedge funds than ever before, as funds seek to replenish assets withdrawn or lost because of negative performance during the financial crisis. Investors such as ...Read more



Hedge fund execs expect credit crisis to rumble on
Jun 17/09
The credit crisis is set to rumble on as economies struggle to digest problem assets, Global Alternative Investment Management (GAIM) conference-goers said in a poll on Tuesday. Of the 200 investors and asset managers po...Read more



Hedge Fund Turmoil Continued During 1Q; Nearly 400 Liquidations
Jun 17/09
Hedge-fund liquidations continued at a breakneck pace during the first three months of 2009, but cooled off from the record number of collapses seen during the market meltdown at the end of last year.According to new data...Read more



Cantillon Said to Close Hedge Funds in Strategy Shift
Jun 17/09
Cantillon Capital Management LLC, a $4.5 billion asset-management firm run by William von Mueffling, is closing its two hedge funds to focus on traditional investing, according to people familiar with the matter. The firm p...Read more

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