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Monday, December 10, 2018

General News




Accused Ponzi Schemer Bailed Out By Alleged Victims
Apr 03/09
The California hedge fund manager at the center of a bizarre alleged Ponzi scheme has been released on bail, thanks in part to some of his apparent victims. Three of the 150 people that authorities say invested in Anthony Vas...Read more



G20 to regulate big hedge funds: draft communique
Apr 02/09
World leaders will pledge to regulate major hedge funds for the first time and set up a new oversight board to monitor the global financial system, according to a draft of the G20 communique. The draft, obtained by Reut...Read more



Cleaning Up After the 'Perfect Storm'
Apr 02/09
Amid all the illusions that led to today's financial catastrophes, regulation got lost amid ideological struggles. Time to fix what's broken.This is the first of two parts.In an interview more than two decades ago, the chairman ...Read more



Credit rating firms are like cancer to the financial system
Apr 02/09
If the mortgage meltdown teaches us anything, it's that the work of these agencies isn't worth the paper it's on. Yet eradicating their influence may be the toughest regulatory challenge we face.The chilling realization that som...Read more



Private equity fundraising takes a hit
Apr 02/09
Private equity fundraising in the first three months of 2009 dropped to its lowest level in more than five years - news that will be a surprise to few - while the number of buyout firms scrapping plans to raise fresh capital is...Read more



Pedigree, More Than Ever, Crucial to Startup Success
Apr 02/09
Starting a hedge fund is a tall order in this inhospitable market. But Pav Sethi has that something extra going for him: pedigree. As the founder of startup Gladius Investment Group, Sethi, 36, can boast a recent stint with ...Read more



Mass. Regulator Charges Madoff Feeder Fund
Apr 02/09
Massachusetts' top securities regulator charged hedge fund firm Fairfield Greenwich Group with fraud for allegedly lying to investors about confessed swindler Bernard Madoff's phony management business. The action on Wednesda...Read more



Register Advisers, Not Funds: MFA
Apr 02/09
U.S. hedge funds concerned about growing Congressional momentum to regulate their opaque $1.2 trillion industry said Tuesday [March 31] they could live with requiring fund advisers to register, but not with requiring the funds ...Read more



Hedge funds generally accept Obama oversight plan
Apr 01/09
Hedge funds generally accept the Obama administration's proposal to require managers to register with regulators, but want to ensure their information will be kept confidential when Congress acts, the head of the industry's tr...Read more



Hedge Fund Managers Leave Goldman Sachs
Apr 01/09
Three heads of Goldman Sachs Asset Management, the firm’s quantitative investment group, left the firm on Tuesday, announcing their retirement. The three men, including Ray Iwanowski and Mark Carhart, ran Goldman’s Global A...Read more



Madoff, Relatives, Feeder Funds Have Assets Frozen
Apr 01/09
A Connecticut judge froze the assets of Bernard Madoff, his wife Ruth, his sons and brother Peter as well as so-called feeder funds including Fairfield Greenwich Group, said a lawyer who obtained the order. A state judge ...Read more



Fla. Hedge Fund Manager Gets 10 Years For Ponzi Scheme
Apr 01/09
A federal judge has sent yet another hedge fund Ponzi schemer up the river. Manyu Ogale was sentenced to 10 years in prison for defrauding investors of more than $23 million in his Den Haag Capital hedge fund. According to pr...Read more



White House sets up hedge fund to deal with toxic assets
Apr 01/09
London, April 1: In a move which has left Wall Street and Capitol Hill reeling, the US administration has announced the formation of a hedge fund with a $500 billion mandate to oversee disposal of and investment in bank toxi...Read more



Q and A: Eric Sprott: First, 'fix the economy'
Apr 01/09
Eric Sprott, a veteran bear, sees no reason to change his outlook BRIAN MILNER Globe and Mail Update When it comes to a bearish view of the markets, veteran money manager Eric Sprott takes a back seat to no one. So...Read more



Dynamic Hedge Fund May Be Placed Under Liquidator’s Protection
Mar 31/09
A Cayman Islands court may decide tomorrow to put Dynamic Decisions Capital Management Ltd.’s main hedge fund under the protection of an outside firm after investors accused the manager of “gross mismanagement and misfeasance,...Read more



Hedge funds stand to gain, but also face oversight
Mar 31/09
Hedge funds are being offered a sweet deal to help the Obama administration rescue the U.S. banking system: A low-risk opportunity to scoop up soured bank assets that could one day make them a killing. But the deal could ma...Read more



HFSB says regulators aware hedge funds not a systemic risk
Mar 31/09
The Hedge Fund Standards Board (HFSB) told Reuters it expects global regulators to propose "sensible" rules for the freewheeling industry and said investors were starting to return to the sector. Antonio Borges, cha...Read more



Industry veterans launch independent risk advisory firm Catalina Partners
Mar 31/09
With growing concerns over hedge fund due diligence and fraudulent investment schemes, two investment industry veterans have formed Catalina Partners to focus on the business risk management needs of both institutional investor...Read more



Institutional Investors Plan to Increase Hedge Fund Allocations in 2009
Mar 31/09
A study by State Street Corporation indicates that the turbulent financial markets have not caused major shifts in institutional asset allocations. Three quarters of institutional investors said they do not plan to modify portf...Read more



Investors and hedge funds at odds over importance of fees and regulation
Mar 31/09
Investors regard fees and regulation as much more important than hedge funds do, according to a survey by IRC Conferences/Terrapinn. While 43 per cent of investors rated the issue of fees as "very important" in reviv...Read more



Canada's Carney urges system-wide view on reform
Mar 31/09
The G20 meeting in London this week should take an approach to financial regulation reform that looks at the system as a whole and the interaction between banks and markets, Bank of Canada Governor Mark Carney said on Monday. ...Read more



Blackstone Rejects SEC Request for Fund Data as Fortress Agrees
Mar 30/09
Blackstone Group LP, the world’s largest private-equity firm, rebuffed a request from securities regulators to publicly disclose the performance of its buyout and hedge funds while Fortress Investment Group LLC agreed. ...Read more



Aust hedge funds slip into the red
Mar 30/09
Australian hedge funds slipped into the red in February, but their declines were less than that of major sharemarket indices in Australia and the United States, new data shows. Research group Australian Fund Monitors said th...Read more



Hedge Funds Fret About Proposed Rules
Mar 30/09
For years, hedge fund managers in the United States have worried that their loosely regulated and secretive industry would one day face tougher regulations. Now that day seems to be here. “It was inevitable that this would ha...Read more



$60M Pot of Goldman
Mar 30/09
A pair of Goldman Sachs partners is scoring their own personal gold-plated bailout amid a souring stock market. Outgoing Co-President Jon Winkelried and Gregory Palm, the bank's general counsel, are pocketing a combined $60 ...Read more



G-20 Targets Hedge Funds as Leaders Near Consensus
Mar 30/09
Leaders of advanced and emerging economies are closing ranks behind plans for tougher rules on financial markets to prevent another collapse like the one that wiped out much of Wall Street. A global approach to regulat...Read more



Investors in Irish hedge fund sue over fraud by Madoff
Mar 30/09
INVESTORS IN Thema International, an offshore hedge fund based in Ireland, have filed a lawsuit in New York in an effort to claw back $3 billion (€2.3 billion)they lost in the Bernard Madoff Ponzi scheme. Fabian Perrone...Read more



Redemptions biggest challenge facing hedge fund industry, says survey
Mar 27/09
The biggest challenge facing managers in the next 12 months is primarily redemptions, according to a survey of 1,000 investors by Deutsche Bank. The survey found that although redemptions have slowed down since 2008, manager...Read more



Hedge Funds, Buyout Firms Say Regulation Unstoppable
Mar 27/09
Hedge funds and private-equity firms, after opposing increased federal oversight for years, said they can’t escape the Obama administration’s plan to include them in an overhaul of U.S. financial regulation. “We’...Read more



Treasury crackdown faces challenge
Mar 27/09
Congress welcomed the Treasury's proposed crackdown on the big financial firms and free-wheeling markets that were implicated in the global financial crisis, but some of the country's richest and most powerful financial inter...Read more



Hedge funds switch to UCITS III
Mar 27/09
Hedge funds are re-inventing themselves in the wake of the threat of increased regulation, investor redemptions and drops in performance levels. Daniel Broby, chief investment officer of Silk Invest, a Lo...Read more



Sprott invests in Prairie farming operation
Mar 27/09
Eric Sprott's hunger for most commodities has likely wavered after last year's market collapse, however, the legendary hedge fund manager is still placing bets on at least a few.   Sprott Resource Group Corp., o...Read more



Institutions trim hedge fund allocations: State Street
Mar 27/09
Turbulent financial markets have caused institutional investors to reduce hedge fund exposure temporarily, but not permanently, according to State Street Corp.’s fifth institutional investor hedge fund study. The study, conduct...Read more



Hedge fund industry still feeling Madoff effect
Mar 27/09
Bernard Madoff is behind bars, but the effects of his fraud are still reverberating in the hedge fund industry, with more redemptions expected and investor confidence decimated. Traumatized investors are now more likely to cl...Read more



State Street Global Advisors Launches Canadian Alpha Edge
Mar 27/09
State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), today announced the launch of its new Canadian Alpha Edge strategy.    Canadian Alpha Edge builds o...Read more



Sprott profit falls 26 per cent as assets tumble
Mar 27/09
Sprott Inc. Thursday reported a 26-per-cent drop in fourth-quarter profit as the investment firm suffered significant redemptions from offshore clients, while assets tumbled in the market meltdown. The Toronto-based investm...Read more



Man Group to offer fund of hedge to private investors
Mar 26/09
Britain's largest listed hedge fund Man Group is to launch a new fund of hedge funds business pledging to offer transparent access to hedge funds for private investors. The announcement comes as the group announces that its pr...Read more



Hedge funds ponder Obama’s carrot, fear stick
Mar 26/09
Hedge funds are being offered a sweet deal to help the Obama administration rescue the U.S. banking system: A low-risk opportunity to scoop up soured bank assets that could one day make them a killing.But the deal could make for a...Read more



It’s an Investor’s Market as Hedge Funds Shift
Mar 26/09
NOT long ago, investors lined up to write checks to hedge funds, with visions of huge returns. But after last year’s lousy investment performance and record levels of hedge fund closures, many are now realizing that hedge funds...Read more



Pensions seen fueling hedge fund industry growth
Mar 26/09
Pension funds will likely funnel more money into hedge funds and become a powerful engine of growth for the industry in the coming months, a hedge fund industry veteran said on Wednesday. "We are finding that corporate p...Read more



Top managers' pay dropped 48% last year
Mar 26/09
SAN FRANCISCO (MarketWatch) -- Top hedge fund managers earned 48% less on average last year, but industry chiefs James Simons, John Paulson, John Arnold and George Soros still took home more than $1 billion each, Alpha Magazine...Read more



Hedge funds stand to gain, but also face oversight
Mar 26/09
Hedge funds are being offered a sweet deal to help the Obama administration rescue the U.S. banking system: A low-risk opportunity to scoop up soured bank assets that could one day make them a killing.But the deal could make for...Read more



State Street HF Study Shows Institutional Investors Remain Committed to HF's
Mar 26/09
Nearly Half Plan to Increase Hedge Fund Allocations in 2009Increased Focus on Accurate Valuations and Transparency RemainsParamount Boston, March 26, 2009 – State Street Corporation (NYSE: STT), theworld’s leading provider of fina...Read more



Brosens Withdraws as Candidate for U.S. Bank-Rescue Fund Chief
Mar 25/09
Frank Brosens, a hedge fund manager who was Treasury Secretary Timothy Geithner’s choice to run the office overseeing the $700 billion bank bailout program, withdrew his name from consideration. Brosens, a foundin...Read more



Hedge-Fund Pay May Fall 25% in 2009 as Fees Evaporate
Mar 25/09
Compensation for U.S. hedge-fund employees may drop as much as 25 percent this year as the firms try to recoup last year’s investment losses. The decline will cut hedge-fund paychecks to about half the record leve...Read more



Top Hedge Fund Managers Do Well in a Down Year
Mar 25/09
The financial crisis may have turned much of Wall Street’s wealth into dross, but a select group of hedge fund managers has managed to maintain a golden touch that might make King Midas blush. As major markets and economies c...Read more



Banks stone-faced on 'super regulator' move
Mar 25/09
Bay Street is mobilizing its army of lobbyists to resist moves toward a "super regulator" that would tighten controls of the country's banks in the wake of the financial crisis.The fresh political offensive comes as ...Read more



Survey: Hedge fund cash will move back into play
Mar 25/09
Hedge fund investors are sitting on nearly $300 billion in cash, 25% of which is expected to move back into the alternative category this year, according to the latest research from the global markets division of Deutsche Bank ...Read more



For hedge funds, it’s survival of the biggest
Mar 25/09
The future of hedge funds may not be as bleak as thought—as long as a hedge fund has at least $1 billion in assets under management.Deutsche Bank’s annual Alternative Investment Survey, released Tuesday, reveals what can only be...Read more



Investors still have some faith in hedge funds
Mar 25/09
That, anyway, is the conclusion of a closely watched industry survey, that was to be published Tuesday, that paints a sobering portrait of what was once one of the highest-flying businesses on Wall Street. After years of explo...Read more

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