General News

	Regulating...the Canadian way?	May 13/09
	The National Post newspaper in Canada today published an interesting opinion piece commenting on the Canadian financial system. The article compares the fate of the US banking sector to the main Canadian ban...Read more
	FRM Unit Plans $300 Million Investments in Hedge Fund Managers	May 13/09
	FRM Capital Advisors Ltd., a unit of London-based asset manager Financial Risk Management Ltd., plans to make as much as $300 million of strategic investments in hedge funds this year, including its first in Asia. FRM C...Read more
	Ospraie’s Anderson to Give Commodities Hedge Funds Another Try	May 13/09
	Dwight Anderson, the commodities investor who liquidated his main Ospraie Fund last year after losing 39 percent, is planning a comeback with two new hedge funds set to open July 1. The Ospraie Equity Fund will buy and s...Read more
	Hedge fund turmoil a boon for family offices	May 13/09
	Tumbling markets and redemption waves have been murder on hedge funds, but the turmoil will free up top-tier talent for a quiet but well-heeled corner of the market: family offices. The world's wealthiest, not content to ha...Read more
	How hedge-fund-friendly is the White House?	May 13/09
	Ryan Chittum makes a good point about the hedge funds kvetching about the Obama administration on page C1 of the WSJ: their “pique” (to use the word in the WSJ headline) might well be a function of the fact that t...Read more
	New York lawyer pleads guilty to huge fraud	May 12/09
	Charges carry a potential prison term of 30 years to life in prisonA prominent Manhattan lawyer has pleaded guilty to defrauding hedge funds of more than $400 million. Fifty-eight-year-old Marc Dreier on Monday pleaded guilty...Read more
	Samena Capital Starts Japan-Focused Stock Hedge Fund	May 12/09
	Samena Capital, a London-based investment firm with more than $200 million, will start a Japan- focused hedge fund, betting the nation’s stock prices will continue to rebound in the wake of the global credit crisis. Same...Read more
	Top Solar-Focused Hedge Funds Revealed	May 12/09
	HedgeTracker.com recently released its list of Top Solar-Focused Hedge Funds. The funds selected for the list had the greatest percentage of their US equity assets under management invested in US-listed Solar Stocks. As of 1...Read more
	Obama’s Hedge Fund ‘Bullying’ May Hurt Rescue Plan	May 12/09
	U.S. President Barack Obama’s “bullying” of hedge fund managers may cost him their support for his plan to jump-start lending, according to Cliff Asness, managing partner of AQR Capital Management LLC. Obama blamed hedge...Read more
	Satellite Hedge Fund Said to Shut After Withdrawals	May 11/09
	Satellite Asset Management LP, a $3 billion hedge fund founded by former employees of billionaire George Soros, is closing down because of client withdrawals, according to a person familiar with the matter. The New Yo...Read more
	MFA backs hedge fund registration	May 11/09
	The Managed Funds Association has backed proposals requiring US hedge fund managers to register with the Securities and Exchange Commission (SEC) under the Investment Advisors Act of 1940. In testimony before a congr...Read more
	Madoff’s ‘Black Box’ Secrecy Fooled Investigators: TV Review	May 11/09
	For Bernie Madoff, mum was the word. The Pope of Ponzi demanded anonymity as a cost of doing business, according to “The Madoff Affair,” an illuminating one-hour special airing tomorrow on PBS at 9 p.m. New York time. ...Read more
	Even In Hedge Fund Mecca, Billions Lost In Market Fall	May 11/09
	Connecticut is home to 10 of the world’s 100 largest hedge funds, maintaining its position as a dominant center for the lightly regulated pools of capital that cater to wealthy individuals and institutional investors. But ev...Read more
	How Is the New Hedge Fund Strategy ETF Doing?	May 11/09
	The innovators were out with guns blasting as they introduced an ETF that acts like a hedge fund. How has it been doing since the March 25 launch? This new ETF, established by IndexIQ analyzes publicly available hedge fund ...Read more
	Paul Knight appointed as chairman of UBS Canada	May 11/09
	UBS has appointed Paul Knight as chairman and chief executive of UBS Canada. In this role, he will report to Robert Wolf, chairman and chief executive, UBS Americas. Knight will also continue in his current role as joint globa...Read more
	Credit Suisse/Tremont Hedge Fund Index to finish up 1.29 per cent in April	May 11/09
	Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index will finish up 1.29 per cent in April, based on 55 per cent of assets reporting. Difficult macro data such as the International Monetary Fund's forecasts for ...Read more
	Last year's star hedge funds hurt amid rally	May 11/09
	WHAT ARE WE LOOKING FOR?How some Canadian hedge funds are faring in this year's wild stock-market gyrations. It was a tough 2008 for many hedgies who got clobbered in the global market carnage. Many managers ended up deep in re...Read more
	Hedge funds cut fees for investors	May 11/09
	The hedge fund industry, infamous for imposing high fees, is finally beginning to cut these charges amid heavy outflows and investor complaints after a year of losses.Three hedge funds contacted by the Financial Times admitted...Read more
	Hedge Funds Gain Most Since 2000 as Stocks Rally	May 08/09
	Hedge funds, in a positive sign for financial markets, posted their biggest gain since February 2000, returning an average of 3.8 percent last month, Hedge Fund Research Inc. said. Funds have risen 4.2 percent this year, ac...Read more
	Hedge Fund Giant Gottex Takes Stake In SJC Capital	May 08/09
	Swiss fund of hedge funds shop Gottex Fund Management has taken a controlling stake in U.S-based firm SJC Capital Partners. The U.S. asset management firm, which was founded last year by Stephen Czech, specia...Read more
	Hedge Funds Rise 3.8 Percent in April	May 08/09
	Hedge funds posted gains of 3.8 percent in April as the stock market continued its rally and commodities began rising, according to a preliminary report from Hedge Fund Research. Year-to-date, hedge funds have gained 4.2%, wi...Read more
	Fortress Sheds Over $2 Billion In First Quarter	May 08/09
	The Fortress Investment Group suffered $2.6 billion in hedge fund redemptions in the first quarter bringing its year-to-date assets under management to $26.5 billion. The alternative investment behemoth also reported a net los...Read more
	Sprott Says Q1 Net Dives 56%	May 08/09
	Canadian money-management firm Sprott Inc. posted a 56% fall in first-quarter profit, hurt in part by lower management fees, but said assets under management rose sequentially. The company earned C$7.4 million ($6.3 million), o...Read more
	Sprott questions logic of rally	May 08/09
	Being a contrarian can hurt sometimes, especially when the markets are enjoying a broad upswing. For Canada's most vocal bear, the latest rally is doing little to change his mind. Eric Sprott, president and CEO of Sprott Asse...Read more
	Regulatory changes to impact securities and investments industry	May 07/09
	A research report by TowerGroup has outlined ten far-reaching regulatory changes facing the securities and investments industry in the next 24 months and beyond. The report finds that not only will a completely new regulatory ...Read more
	Chrysler’s Greedy Hedge Fund Holdouts Get It Right	May 07/09
	You can call the plan to merge Chrysler and Fiat good for the economy. You can think it creative. You can say it’s the start of “a vibrant new company,” as Chrysler LLC Chairman Robert Nardelli did last week. ...Read more
	Blackstone, Fortress Seek Hedge-Fund Takeovers After Debt Slump	May 07/09
	- Blackstone Group LP and Fortress Investment Group LLC are seeking to take over credit funds from managers unable to support their businesses after the value of investments fell. There are “a lot of companies that...Read more
	EC hedge fund proposals will just not work - Aima	May 07/09
	Plans put forward by the European Commission for tighter regulatory control of hedge fund managers are not a proportionate response to the current crisis, according to the Alternative Investment Management Association. L...Read more
	Market Points to Banks in Need	May 07/09
	Everyone seems to have taken a stab at predicting which banks will need more capital as a result of the government’s stress tests. Few have been on the money — witness the surprise of the public over Bank of America’s $34 billi...Read more
	Hedge funds 'could drive firms under'	May 07/09
	Hedge funds could lead to an increase in the number of businesses becoming insolvent as they look to extract profits from struggling firms, it has been claimed. Speaking to the Guardian, Philip Davidson, head of European restru...Read more
	A warning shot for General Motors	May 07/09
	Remember those hedge funds that refused to make a deal with the government on Chrysler? They don't appear to be having any more success with the bankruptcy judge than they were with President Obama. From the Financial T...Read more
	Do your due diligence on alternative investments: AIMA Canada panel	May 07/09
	When recommending alternative investments for clients, it is vital to understand the various strategies they emplo.In the aftermath of the asset-backed commercial paper scandal and the Bernard Madoff scandal, it’s more important ...Read more
	Odey Hedge Fund Posts Record Gain in April After Bets on Rally	May 07/09
	Odey European Inc., the hedge fund run by Crispin Odey, posted the biggest monthly gain in its 17-year history after betting that “junk” shares would be the biggest beneficiaries in a market rally. The fund advanced 28 p...Read more
	Chrysler won't repay bailout money	May 06/09
	An administration official confirms that a $4 billion bridge loan and $3.2 billion in bankruptcy financing won't be paid back by Chrysler following bankruptcy.Chrysler LLC will not repay U.S. taxpayers more than $7 billion in b...Read more
	Hedge fund manager lashes back at Obama on Chrysler	May 06/09
	Prominent hedge fund manager Clifford Asness has struck back at the Obama administration, saying hedge funds had the right and responsibility to hold out on last week's Chrysler restructuring deal. "Managers have a...Read more
	Hedge Fund Registration Is Still A Pointless Exercise	May 06/09
	The chief of investment management at the Securities and Exchange Commission told a Mutual Fund trade group yesterday that that he believes hedge fund advisers should be required to register with the SEC, Sarah Lynch of Dow Jon...Read more
	SEC Chief Schapiro Wants Authority to Make Hedge-Fund Rules	May 06/09
	The U.S. Securities and Exchange Commission should be given authority to regulate what hedge funds can buy and how much money they can borrow to maximize bets because registration falls short of what’s needed to police the $1....Read more
	Hong Kong Hedge-Fund Market Asia’s Biggest, AIMA Says	May 06/09
	Hong Kong remains the largest hedge fund center in Asia, with managers in the city overseeing $22 billion in assets as of December 2008, the Alternative Investment Management Association Hong Kong said. The city ha...Read more
	AIMA issues Sound Practices Guide for funds of funds	May 06/09
	After a year of work involving key funds of hedge funds executives, solicitors and administrators, the Alternative Investment Management Association has published The Guide to Sound Practices for Funds of Hedge Funds Managers.W...Read more
	Parents Bail Out Alleged Hedge Fund Fraudster	May 06/09
	Francesco Rusciano, operator of a Stamford-based hedge fund, Ponta Negra, was released yesterday from federal custody on a $500,000 bond. U.S. Magistrate Judge Holly Fitzsimmons released Rusciano into the custody of his parent...Read more
	Canadian mutual fund assets up by CAD20bn, says IFIC	May 06/09
	The Investment Funds Institute of Canada has reported that based on a sample of preliminary data from some of its members, net sales of mutual funds for the month of April are estimated to be between CAD257.9m and CAD757.9m. '...Read more
	Hedge Fund Dichotomy: Big Vs. Small	May 06/09
	There will be more consolidation among hedge funds facing multiple risks, as smaller funds struggle to compete in sea of big fish, according to managing partners on a panel at Markets Media Live's Austin Institutional Investing...Read more
	Finvest’s Grieve Puts House On Market, Alleged Swindler Still MIA	May 06/09
	Last August, we broke the news that something fishy was going on at Gad Grieve’s New York-based fund of hedge funds Finvest. Needless to say, Grieve, who had spoken to FINalternatives about his funds numerous times over the years...Read more
	EU directive misguided, says PwC	May 05/09
	The publication of the EU's proposed Directive on Alternative Investment Fund Managers could risk forcing the alternative asset management industry into radical restructuring, PricewaterhouseCoopers has warned. This not only catc...Read more
	Chrysler Secured Lenders Will File Secrecy Request, Lawyer Says	May 05/09
	Chrysler LLC secured lenders who oppose a bankruptcy plan to sell most of the carmaker’s assets to an entity managed by Fiat SpA will ask today that their names be kept secret because some received death threats, their lawyer said...Read more
	Dow Jones Hedge fund Indexes temporarily suspends publication of the distressed securities	May 05/09
	Dow Jones Hedge Fund Indexes, Inc, today announced that it has temporarily suspended publication of the Dow Jones Hedge Fund Distressed Securities Strategy Benchmark, effective immediately, until further notice.The decision to hal...Read more
	CASAM CISDM Equal Weighted Hedge Fund Index up 2.32% in March, 0.59% YTD	May 05/09
	The CASAM CISDM Equal Weighted Hedge Fund Index was up 2.32% for the month of March. The positive performance reflected that of its constituent strategies, almost all of which made gains. The strongest performers were the Emerging...Read more
	Fidelity Investments Adds IQ ALPHA Hedge Strategy Fund to Its Mutual Fund Platform	May 05/09
	The IQ ALPHA Hedge Strategy Fund has been added to the Fidelity Investments mutual fund platform, it was announced today.The IQ ALPHA Hedge Strategy Fund is the first no-load, open-end mutual fund to bring hedge fund-style investi...Read more
	Funds scurrying to cut off future pay-to-play action	May 05/09
	The placement-agent payment scandal has gone west. Public pension fund executives from Oklahoma to Washington state are probing their managers' relationships with third-party marketers and placement agents as a result of the pay-t...Read more
	Chrysler lenders receive death threats	May 05/09
	Lenders' lawyer tells hearing that threats were 'perceived to be bonafide' after deal to wipe out Chrysler debt was scuppered.Lenders that scuppered a deal to wipe out Chrysler’s debt, pushing the struggling auto maker into bankru...Read more