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Sunday, December 8, 2024
General News |
2008 Was Lean for New Hedge Funds | Feb 06/09 |
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Raising money to start any new venture was tough last year, but especially so if you were a hedge fund.
Assets for new hedge funds declined 35 percent in 2008 compared to
the previous year, as hedge fund investors — typically in...Read more |
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Large hedge fund launches "declined 26 per cent in 2008" | Feb 06/09 |
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Assets for large new hedge fund launches declined
significantly in the US in 2008 as hedge funds suffered their
worst-ever year for performance, a survey has found.
The survey, conducted by Absolute Return magazine, found that ...Read more |
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Ponzi North | Feb 06/09 |
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When people around Phillip Robinson saw how lucrative his
investments were, they wanted in. Now, the Canadian link to Bernard
Madoff is becoming clear, and it isn't pretty.
Phillip Robinson has survived the Second World War, th...Read more |
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Canadian Short Ban Raised Mkt Volatility | Feb 06/09 |
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The Investment Industry Regulatory Organization of Canada (IIROC)
has released two studies examining recent trends in trading activity of
listed securities on Canadian equity marketplaces and the impact of the
prohibition on th...Read more |
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Insight: Hedge fund haters have a point | Feb 06/09 |
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Walk around London’s
Mayfair or New York’s Midtown at the moment and – if you can avoid
tripping over unemployed bankers – you can listen in on plenty of
conversations about kicking hedge funds while they’re down.This
is not a...Read more |
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Hedge Funds Can’t Fix Connecticut’s Fallen Revenue | Feb 05/09 |
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Philip Duff, Morgan Stanley’s former chief financial officer, last month
fired 80 of the 100 people at his 11-month-old hedge fund, and now he’s looking
to sublet excess office space in Greenwich, Connecticut.
Record los...Read more |
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Madoff’s Brother Said to Audit Firm’s Investments, Tipster Says | Feb 05/09 |
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Bernard Madoff rejected an investment fund demand for an outside audit of
his performance, saying only his brother Peter was allowed to do that “for
reasons of secrecy,” a certified fraud examiner testified to Congress.
...Read more |
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Soros Imitators Reap Riches in Financial Crisis on Macro Funds | Feb 05/09 |
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Hedge fund managers on average lost 18.7 percent of their clients’ money in
2008, for the worst performance since at least 1990, according to Hedge Fund
Research Inc. Combine the losses with investor redemptions, and total hed...Read more |
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Harry Markopolos' 2005 Memo to the SEC | Feb 05/09 |
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Here is the link to Harry Markopolos' 2005 memo to the
Securities and Exchange Commission about the fraud he believed he had
uncovered at Bernard Madoff's hedge fund.Please copy and paste in your browser.http://www.hedgeworld.co...Read more |
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Madoff clients' list made public | Feb 05/09 |
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A list of clients who invested money with accused swindler Bernard Madoff was made public on Wednesday.
The 162-page document filed with the U.S. Bankruptcy Court in Manhattan
named Columbia University, legendary baseball playe...Read more |
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Goldman Sachs postpones hedge-fund conference | Feb 05/09 |
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Goldman Sachs Group Inc. postponed a conference it holds annually
for investors and hedge fund clients. The conference location will also
be moved to New York.
The conference was scheduled for
early March in Miami, but ins...Read more |
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A Hedge Fund Gambles on Death | Feb 05/09 |
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The market for exotic securities hasn’t entirely gone away. It’s just gone underground—-six feet under, to be precise.
Hedge fund Davidson Kempner Capital Management is plunging into life
settlements—a market in which speculat...Read more |
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Tax haven hedge funds threatened | Feb 05/09 |
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Thousands of hedge funds in offshore tax havens are expected to fold in 2009,
warn Zolfo Cooper.The head of restructuring giant
Zolfo Cooper expects
thousands of hedge funds to fold in 2009.Simon Freakley told Accountancy Age t...Read more |
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AIMA calls for global response to issues touching hedge funds | Feb 05/09 |
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A global response is needed to the concerns from
regulators and politicians concerning hedge funds said the Alternative
Investment Management Association (AIMA). In its response to the
European Commission's consultation paper o...Read more |
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Hedge Fund Launches Decline 26% to $23 Billion in 2008 | Feb 05/09 |
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The Absolute Return New Funds Survey for 2008, published in the February
issue of Absolute Return magazine, shows that assets for new hedge fund
launches declined significantly in the U.S. as hedge funds came off the
worst...Read more |
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Hedge funds managers try, try again | Feb 04/09 |
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Plenty of hedge fund managers lost their shirts to 2008's bear market,
but that doesn't appear to be keeping some of them from trying again
with a new fund. The latest manager to go that route is Michael
Zimmerman, whose Prenti...Read more |
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Hedge funds wither under $152B in withdrawals | Feb 04/09 |
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Hedge funds have seen the best of times and the worst of times in the
fourth quarter. In the last quarter of 2007, the industry attracted a
record $194 billion from investors. But it's been all downhill from
there as the financ...Read more |
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Luxembourg to shut down Madoff-linked hedge fund | Feb 04/09 |
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BRUSSELS: Luxembourg
financial supervisors said Tuesday they would shut down the Luxalpha
hedge fund that invested heavily in a massive pyramid scheme allegedly
operated by U.S. financier Bernard Madoff.
Luxalpha was promo...Read more |
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John Meriwether, the Wile E. Coyote of Hedge Funds | Feb 04/09 |
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Some people really do live a cartoon life. They blow themselves up,
and for a second, there they are, all charred and burned. But then in
the next frame, they've got a fresh stick of dynamite in their hands
and they're good as ...Read more |
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Private equity dives into alternatives, LBOs dead | Feb 04/09 |
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Private equity firms are being forced to dive into alternative
investments or sit it out on the sidelines, as the credit crisis kills
their ability to strike large leveraged buyouts.
The mood was gloomy at the industry's main...Read more |
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Massachusetts Pension Fires Austin, Ivy Hedge Funds | Feb 04/09 |
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The Massachusetts Pension Reserves
Investment Management Board, which oversees $38 billion, voted
to fire hedge-fund firm Austin Capital Management after losing
$12 million with alleged Ponzi scheme operator Bernard Madoff. ...Read more |
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Sprott Says U.S. Depression Will Boost Gold Price | Feb 04/09 |
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Eric Sprott, the Canadian money
manager who last year predicted banking stocks would collapse,
said the U.S. is at the beginning of an economic depression that
will help gold prices more than double.
Bullion may t...Read more |
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10 Questions to Ask Your Fund-of-Funds Manager | Feb 04/09 |
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If you were a client of Access International Advisors, which lost a lot of money with Bernie Madoff, then you would have been told
that they "conducted thorough due diligence when selecting outsider
fund managers". Whi...Read more |
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Tancredo hit by hedge fund fallout | Feb 04/09 |
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Tom Tancredo is reeling in the debris of America's exploding hedge funds.
"It all went south," the former candidate for U.S. president told me Monday. "It was a pretty devastating thing."
The conservative R...Read more |
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Judge extends freeze on Nadel's assets | Feb 04/09 |
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A federal judge extended a freeze on the assets of Sarasota's Arthur
G. Nadel on Tuesday, but failed to include other partners -- a measure
some investors with the accused hedge fund swindler have been pushing
for aggressively ...Read more |
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Silvercreek latest hedge fund to feel sting of market downturn | Feb 04/09 |
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The market meltdown has claimed another hedge fund, with Silvercreek Management into workout mode on a convertible bond fund that featured a who's who of Canadian finance backers.Silvercreek
oversees an estimated $300-million, an...Read more |
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Markopolos Says Madoff Losses Probably $15 Billion-$25 Billion | Feb 04/09 |
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Harry Markopolos said losses linked
to Bernard Madoff’s alleged fraud are probably $15 billion to
$25 billion, rather than the estimated $50 billion.
Markopolos, testifying to a House Financial Services
Committee p...Read more |
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Compliance to Take Center Stage if SEC Registration is Required of Hedge Funds | Feb 03/09 |
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With Congress and the new Obama Administration calling for tighter
regulation of hedge funds, compliance is going to be a hot topic in
alternative investment circles.
Last Thursday, Republican Sen. Charles Grassley of Iowa,...Read more |
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Despite Bad Mistakes, 75/50 Strategies Bouncing Back | Feb 03/09 |
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In this column, we'll review the performance of a portfolio model
designed to use both short- and long-allocation strategies for managing
private wealth.
We'll call this our AI 75-50 Portfolio. (Excuse me, this isn't overt...Read more |
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More Than Half US-Based Hedge Funds SEC-Registered | Feb 03/09 |
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A little more than half of U.S.-based hedge funds are
already registered with the Securities and Exchange Commission, according to a
new study that comes amid efforts by lawmakers to require virtually all of them
to do so.
...Read more |
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Morningstar sued for 'screen-scraping' | Feb 03/09 |
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NewRiver Inc., a software provider, filed a lawsuit today in
Massachusetts state court alleging that Morningstar Inc. illegally
accessed its proprietary software — access it says that the research
firm used to engage in unfair ...Read more |
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IAM Launches $100 Million CTA Portfolio | Feb 03/09 |
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Fund of hedge funds shop International Asset Management has launched
the IAM Trading Fund with more than US$100 million in assets.
The fund will invest in diversified portfolio of commodity trading
advisers, initially allocati...Read more |
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Hedge Funds Frustrated By Investors, Not Markets, In 2008 | Feb 03/09 |
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While the bulk of the hedge fund industry suffered from drawdowns
and redemptions last year, a handful of non-household funds actually
generated the absolute returns that they are, by definition, after. But
these under-the-rada...Read more |
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Lawrence fund manager given second chance | Feb 03/09 |
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Shareholders of Lawrence Partners Fund yesterday voted to let its
manager, Ravi Sood, have another crack at reinvesting some of the
struggling hedge fund's assets.Toronto-based Lawrence Asset Management Inc.
had been proposing ...Read more |
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Hedge fund due diligence offered online | Feb 03/09 |
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Consultant and hedge fund data provider BarclayHedge has
formed a partnership to distribute the due diligence SwissAnalytics
product online through its website.
The
SwissAnalytics alternative investment analysis platform...Read more |
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Public companies keen to invest in hedge funds says survey | Feb 02/09 |
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The overwhelming majority of public companies are keen to
engage with hedge fund investors, with 89% proactively meeting with
hedge funds as part of their investor relations programmes, according
to a survey conducted by Bank o...Read more |
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Australian Hedge Funds Hammered In 2008 | Feb 02/09 |
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Hedge Funds from Australia
have seen a record decline or loss of 18 per cent in 2008, as the
credit crisis intensified into a full blown panic last year, which
resulted in equity markets globally selling off by as much as 50 pe...Read more |
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Bonds Slump in January, Hedge Funds Buy Gold | Feb 02/09 |
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This January was one of the worst on record for financial markets.
US Treasuries crashed after enjoying a recession-beating run in 2008.
Gold and silver were the only major asset class to end the month higher.Hedge
funds that p...Read more |
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Arbitrage Lures Gabelli After 920 Hedge Funds Fail | Feb 02/09 |
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Mario Gabelli is buying Wyeth to book
a 13 percent profit from its takeover by Pfizer Inc. Managers at
Cohen & Steers Inc. are scooping up closed-end funds trading at
a 16 percent discount to the value of their holdings. H...Read more |
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Diversification doesn't always insulate investors, and details matter | Feb 02/09 |
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There is a sense of betrayal among investors who have been conscientious.And
when they talk about it, they sound like individuals who find
themselves with a fatal disease after a lifetime of healthy
living—eating a well-balance...Read more |
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Hedge Fund Manager Defended by Madoff’s Lawyer Gets 40 Months | Feb 02/09 |
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A hedge fund manager who used the
same defense lawyer as Bernard Madoff received a sentence that
was a third of the maximum possible after he was convicted of
defrauding investors out of $10 million.
Vincent Montag...Read more |
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Space tourist takes punt on hedge fund | Feb 02/09 |
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Mark Shuttleworth, the man dubbed the “first African in space” after
paying $20m (£13.7m) to become the cosmos’s second space tourist, has
put $10m into a hedge fund backed by Michael Spencer, the billionaire
founder of Icap, t...Read more |
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Hedge that made the grade | Jan 30/09 |
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Morgan Stanley, BlackRock Investment Management, Select Asset
Management, Winton Capital and Man Investments are the only
alternatives fund managers from a pool of 19 to receive a 'recommended'
or 'highly recommended rating' fr...Read more |
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Hedge fund deal's unique feature? | Jan 30/09 |
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The deals for hedge funds these days aren't nearly as gripping as
they were a year or so ago, when people were speculating which funds
would go public. The deals these days tend to be of the bailout--take
my assets, please!--va...Read more |
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Inflation worry sparks new strategies, share classes | Jan 30/09 |
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Some hedge fund managers and
investors are so concerned about a possible devaluation of major
Western currencies and the threat of inflation that they're taking some
unusual steps to hedge those risks.
...Read more |
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Senators Bid to Regulate Hedge Funds | Jan 30/09 |
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Two senior senators introduced legislation on Thursday to impose government oversight of hedge funds.
The legislation by Senator Carl Levin, Democrat of Michigan, and Senator Charles E. Grassley,
Republican of Iowa, was filed as...Read more |
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Hedge Fund to Measure Returns in Gold Rather than Currency | Jan 30/09 |
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A hedge fund has begun offering investors
the chance to have their investment denominated in gold, as worries
grow over governments debasing their currencies by printing money.Osmium
Capital Management, a $178m hedge fund manag...Read more |
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Moody`s report: Market turmoil places operational stress on hedge funds | Jan 30/09 |
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Market-related pressures due to the ongoing
credit squeeze and the loss of investor confidence also place operational
stresses on the hedge fund industry, rather than just financial stresses,
says Moody's Investors Service i...Read more |
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Hedge funds likely stung by banks rally | Jan 30/09 |
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Hedge funds appear to have been badly stung by this week's rally in
bank stocks after the size of short positions across the sector jumped
sharply in the middle of last week, industry data showed.
However, the short pos...Read more |
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Horseman Hedge Fund Says Emerging Market Stocks, Bonds to Fall | Jan 30/09 |
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Russell Clark, the portfolio manager
at Horseman Capital Management LP whose emerging markets fund
returned 14.6 percent last year, told clients that emerging-
market stocks and bonds are likely to fall in 2009.
L...Read more |
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