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Wednesday, December 12, 2018

General News




Industry Was Still Dogged By Investor Redemptions In January
Feb 13/09
Investor redemptions again dogged the hedge fund industry in January, but withdrawals slowed from the levels seen in November and December, HedgeFund.net said Thursday. Hedge-fund performance also improved last mont...Read more



US Stocks Remain Lower With Investors Wary Of Hedge Funds
Feb 13/09
Stocks resumed a deep slide Thursday as investors shrugged off an uptick in retail sales and lawmakers' progress toward passing a massive stimulus bill. The Dow Jones Industrial Average ...Read more



Demand For Islamic Hedge Funds On The Rise
Feb 13/09
Regional high net worth and institutional investors are increasingly seeking safer and more acceptable ways to invest their capital. Islamic finance may be an attractive option say experts who are convening in Dubai later next ...Read more



State street turns hedge fund custodian
Feb 13/09
State Street is the latest custodian bank to receive a massive upswing in business from hedge funds desperate to avoid counterparty risk. In response to industry demand, the Boston-based bank has informally added a custodial...Read more



Canadian Lawsuits On The Rise
Feb 13/09
Plaintiffs brought a record number of securities class actions in Canada last year, more than doubling the total filed in 2007. According to research by NERA Economic Consulting, nine securities suits were filed in 2008, more ...Read more



Florida Fund Manager Plotted to Flee for Months: Prosecutors
Feb 13/09
An accused Florida hedge fund manager who disappeared in January as his losses mounted as high as $300 million, had planned to flee for months, U.S. prosecutors said on Thursday [Feb. 12] in a move to deny him bail. The gover...Read more



Madoff's wife withdrew $15bn before husband's arrest
Feb 12/09
American prosecutors agreed on Wednesday to a 30-day extension in their investigation of Bernard Madoff, raising the possibility that the disgraced fund manager may escape a jury trial. The US Attorney's Office in Manhatta...Read more



Clarke loses hedge fund job as credit crunch hits politicians
Feb 12/09
New Page 1 The shadow business secretary, Kenneth Clarke, has become the latest victim of the credit crunch after losing his job on the board of a hedge fund, the Guardian has learned.Clarke, who was par...Read more



Hedge Funds post gains as equity markets suffer worst January in history, says Hennessee
Feb 12/09
New Page 1 The Hennessee Hedge Fund Index gained 1.10 per cent last month, its second successive positive month, while US equity markets suffered their worst January on record, according to Hennessee Group, a...Read more



Hedge Fund Adviser Nadel Said to Have Been Moved to New York
Feb 12/09
New Page 1 Arthur Nadel, the Florida hedge-fund adviser accused of defrauding investors of more than $300 million, was transferred to New York where he awaits a hearing on federal criminal charges, according to tw...Read more



No Performance Fees for 80% of Asia Hedge Funds
Feb 12/09
New Page 1 More than 80 percent of Asian hedge funds won’t be able to charge their investors performance fees after finishing 2008 below their peak net asset values, according to data provider Eurekahedge Pte. ...Read more



Newedge launches hedge fund indices
Feb 12/09
Newedge has launched a new range of hedge fund indices covering global macro and commodity trading strategies. The range includes two new strategy indices - Newedge Macro Trading Index (Newedge MTI) and Newedge Commodity ...Read more



"Can't regulate good judgment" for hedge funds
Feb 12/09
The hedge fund industry grew too large, too fast, and too stupid — that seems to be the consensus of three hedge fund managers who thrived in 2008 and who expect the collapse of the world's current financial system to get rid o...Read more



More Portus money to flow
Feb 12/09
There was a time, long before Bernard Madoff took over the headlines, when the collapse of Portus Alternative Asset Management was considered a major case. Today there is some good news for investors in the failed hedge fund co...Read more



Private capital sceptical on bank rescue plan
Feb 11/09
A lack of detail in a U.S. plan to cleanse banks of toxic assets has left big money managers and private firms, including leveraged buyout funds and hedge funds, still sceptical about getting involved. U.S. Treasury Sec...Read more



Oklahoma hedge fund manager admits lying
Feb 11/09
Federal regulators have accused an Oklahoma hedge fund manager of cheating and deceiving investors who gave him more than $34 million to trade for them in commodity futures contracts. The manager, Mark S. Trimble of Edmond, rep...Read more



‘Vulture’ Investors Eye Bad Assets, but Warily
Feb 11/09
Howard S. Marks is the sort of financier who Washington hopes will help fix the nation’s tumbledown banks. Trouble is, he is not quite sure he wants the job. Mr. Marks is a former banker who became a pioneer in the graveyard ...Read more



Hedge Funds Post First Back-to-Back Gain in 8 Months
Feb 11/09
Hedge funds posted their first back- to-back gain in eight months in January, rebounding from record losses in 2008 as North American managers benefited from betting stocks would fall, an industry report showed. T...Read more



Recent turmoil could leave hedge fund industry stronger: AIMA panel
Feb 11/09
U.S. regulatory environment to change substantially in the next year, Clark says.The collapse of many hedge funds in recent months has significantly tarnished trust among investors, but could ultimately result in a smaller and s...Read more



Emphasis on due diligence called key for hedge funds
Feb 11/09
The new hedge fund reality places even greater emphasis on due diligence, but it doesn’t mean that investors should start ignoring or abandoning the alternative asset class.This was part of the message presented to investors to...Read more



Hedge Fund Haven to Tighten Rules
Feb 11/09
Financial authorities on the Cayman Islands are promising a legislative crackdown to bolster investor confidence in the post-Madoff era. But while the Caymans -- long a hedge fund haven due to tax advantages and light regulatio...Read more



FSA may look at hedge fund fees
Feb 11/09
Britain's financial watchdog may turn its attention to hedge funds' lucrative performance fees once it has investigated bankers' bonuses, accountancy firm PricewaterhouseCoopers said. The Financial Services Authority and othe...Read more



Hedge fund swindler’s girlfriend pleads guilty
Feb 11/09
The night before he was supposed to start a 20-year prison sentence, hedge fund swindler Samuel Israel III pleaded with his girlfriend to help him get away, the woman said Tuesday. Debra Ryan, 45, of Armonk, testified in federal ...Read more



Geithner to Leverage Tarp for Private Buyers
Feb 11/09
Treasury Secretary Tim Geithner's plan to lure private-equity firms and hedge funds into snapping up illiquid assets could involve leveraging $100 billion from the second phase of the TARP program to cover guarantees that woul...Read more



Carney on the Canadian and Global Economies
Feb 11/09
The following is opening statement by Mark Carney, Governor of the Bank of Canada, to the House of Commons Standing Committee on Finance:Good morning. Paul and I are pleased to appear before this committee to discuss the Bank ...Read more



Madoff Investors Seek Exemption From July Claim Deadline
Feb 11/09
Investors who may have to return cash withdrawn from Bernard L. Madoff Investment Securities LLC before it failed said they should be exempted by the bankrupt firm’s trustee from a July claim deadline. Investors m...Read more



Hedge-Fund Managers Help Raise $1.7 Million at Downsized Gala
Feb 10/09
The annual Hedge Funds Care benefit - - backed by Kenneth Tropin and Michael Vranos -- will downsize from a black-tie dinner to a cocktail party tomorrow night in New York. The nonprofit, which aids child-abuse pre...Read more



Canada: OSC Targets Hedge Funds – Again
Feb 10/09
Thanks in part to the Madoff scandal still unfolding in the United States, the Ontario Securities Commission has launched a focused compliance review of hedge funds. Managers of hedge funds, including many registered investment...Read more



Hedge Fund Group Girds for Regulatory Struggle
Feb 10/09
Coming off a year when the average hedge fund lost 20 percent of its value, the Managed Funds Association (MFA) said it has accepted the inevitability of regulation and is shifting its focus to making the changes as industry-fr...Read more



Back to the future for prime broker survivors
Feb 10/09
The collapse of Lehman Brothers last September was the flashpoint of a year that saw the prime brokerage world - along with that of its hedge fund clients - transformed by the ongoing credit crisis and grisly economic backdrop....Read more



Hedge Fund Bill Won't Publicize Clients
Feb 10/09
Reports that U.S. Sens. Carl Levin's and Charles Grassley's new bill on hedge fund regulation will force funds to publicize the names of clients are untrue, the senators said."Contrary to some press reports, the Grassley-L...Read more



Hedge funds still on the upside in January with the Hennessee index at +1.10%
Feb 10/09
Hedge funds kicked off the year on a positive note as Hennessee Group reported on Monday that its hedge fund index jumped 1.10% in January. Comparatively, the S&P 500 declined 8.57%, the Dow Jones industrial average shrunk ...Read more



SEC's Top Enforcer to Leave Agency
Feb 10/09
The U.S. Securities and Exchange Commission's top enforcement official, Linda Thomsen, will resign, the agency said on Monday [Feb. 9], less than a week after a congressional panel chastised her for failing to follow up tips tha...Read more



Dollar Compounds Funds of Hedge Funds' Madoff Woes
Feb 10/09
The European fund of hedge funds industry may shrink to a quarter of its size as hits from currency hedges and the withdrawal of bank funding compound problems in a sector still reeling from the Bernard Madoff investment scanda...Read more



Barclays Replicates Closed Hedge Funds
Feb 10/09
Barclays Capital has launched two hedge fund replication products enabling investors to track the global hedge fund industry, including funds that are no longer open to investment.The two products--the Long Barclays Alternative...Read more



Hedge fund to set up intricate intelligence web
Feb 09/09
A former Kroll executive is trying to raise money for a new hedge fund that will use intelligence networks similar to those of the private investigator to give it an information edge in emerging markets.Chris Morgan Jones, form...Read more



Trimming Hedges
Feb 09/09
Studying the behaviour of hedge-fund managers THE hedge-fund industry is struggling. Not only did it lose a record 18.3% in 2008, according to Hedge Fund Research, but investors withdrew $152 billion of capital in the last...Read more



Fine-wine fund has outperformed the market
Feb 09/09
As alternative investment strategies go, fine wine might be a little too alternative for some. But that doesn’t dilute the reality of positive performance, particularly in this kind of market cycle.This is why Michael Wigley ha...Read more



Hedge funds inch higher in January after dismal '08
Feb 09/09
Hedge funds started the year with tiny gains and handily outperformed a declining stock market in January after suffering the industry's worst-ever losses in 2008, data released on Friday show. According to Hedge Fund...Read more



Pelorus Advisors Launches Truly Independent Hedge Fund Risk Management Service To Investors
Feb 09/09
Addressing an overwhelming need by the investor community for independent and unbiased hedge fund risk due diligence, Pelorus Advisors has launched an operational risk management service for hedge fund investors. Unlike other d...Read more



In Search of a New Hedge Fund Business Model
Feb 09/09
As hedge fund returns continue to disappoint, there has been a cacophony of voices calling for changes in approach to investment in hedge funds and for reform in the industry. Some are pure marketing hype, while others do have ...Read more



SEC Says Magnitude of Ponzi Schemes Growing
Feb 09/09
The frequency of Ponzi schemes is not increasing but the magnitude of the frauds is, a Securities and Exchange Commission official said on Friday [Feb. 6]. The SEC has been under intense scrutiny for not uncovering the allege...Read more



Currency hedging expected to rise
Feb 09/09
Global volatility strengthens case for investors to offset foreign exchange risk.Global institutional investors are poised to hedge their currency risk in the face of dramatically increased volatility in the foreign-exchange mar...Read more



The True Reason Hedge Funds Performed so Poorly in 2008
Feb 09/09
Hedge funds are often sold as a great diversifier to any asset mix due to their low correlation to traditional asset classes. 2008 was one of the worst years for equity markets, yet hedge funds did not provide the diversificati...Read more



Activist hedge fund moves on Abitibi
Feb 09/09
A U.S. hedge fund with a reputation as an activist investor has become the biggest shareholder in AbitibiBowater Inc., putting added pressure on management at the struggling paper giant to find a speedy solution to its financial w...Read more



Morningstar licenses hedge fund database
Feb 09/09
Morningstar Inc.’s hedge fund database will become the foundation for a new research platform designed to give qualified investors a closer look at more than 7,500 hedge funds. The platform, HedgeAct.com, which was launched to...Read more



Will hedge funds still be around in 5 years time?
Feb 06/09
This analysis is solely the work of the author. It has not been edited or endorsed by GLG.Implications: Hedge fund fees have fallen and are likely to fall further. This will affect the viability of hedge funds. Their still exces...Read more



Hedge Fund Manager, Six Others Busted in Insider Trading Scam
Feb 06/09
The SEC charged seven Wall Street professionals yesterday, alleging an insider trading ring that reaped over $11.6 million in illegal profits. British residents Nicos Achilleas Stephanou of UBS and Ramesh Chakrapani of Blackst...Read more



A New World For Hedge Funds
Feb 06/09
Fewer funds, lower leverage and maybe fewer limited partnerships--how the crisis tamed the wild hedge fund world. In December, Forbes was a media partner to Markets Media, host of the Global Markets Summit in New York ...Read more



First List of 'Green' Hedge Funds?
Feb 06/09
The Energy Hedge Fund Center (EHFC) has come up with what might be the world's first directory of "green" hedge funds.Funds trading in carbon, renewable energy, cleantech, water, weather derivatives and forestry are al...Read more

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