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Tuesday, December 11, 2018

General News




Hedge Fund Meltdown Pressuring Luxury Goods Market
Jan 23/09
Audit Integrity has compiled a list of companies catering to the affluent that it thinks are at most risk as a result of the meltdown of hedge funds.In 2008, hedge funds lost $350 billion globally. “It would not surprise us if ...Read more



Novices Given $1 Million to Start a Hedge Fund on TV
Jan 23/09
Avanta is making its UK television debut with Million Dollar Traders on BBC2. Aired for 3 weeks in January, the series will play out at Avanta’s Austin Friars business centre in London. The program gives eight ordinary people a...Read more



Obamas Treasury pick says U.S. should consider hedge-fund registration
Jan 23/09
Timothy Geithner, President Barack Obama’s nominee to be Treasury secretary, said he believes that the U.S. needs to consider the registration of hedge funds.“The financial crisis has highlighted the urgent need to overhaul the...Read more



70 per cent of hedge funds lost money in 2008, says Barclayhedge
Jan 23/09
Hedge funds lost a record 21.44 per cent in 2008, according to the Barclay Hedge Fund Index compiled by BarclayHedge. '2008 hedge fund losses were widespread, with 70 per cent of the funds that report to us ending the year in th...Read more



Hedge raked in millions betting on bank crash
Jan 23/09
One of London's most successful hedge funds has made £12m in just four days by betting on a fall in the Barclays share price, a move that will heighten the controversy over so-called short-selling strategies. Lansdowne P...Read more



Fortress Will Return Cash to Investors
Jan 23/09
About a month after halting redemptions in one of its hedge funds, Fortress Investment Group has agreed to return cash to investors, according to people familiar with the fund. The turnabout came after the firm renegotiat...Read more



Retired Madoff Victim Back to Work as Maid
Jan 23/09
The Philadelphia Inquirer profiled a woman forced out of retirement and into a job as a housecleaner because she lost her nest egg investing with Bernard Madoff. Retired nurse Maureen Ebel had to take a job "keeping hou...Read more



Fidelity Launches Indian Fund of Hedge Funds
Jan 23/09
Fidelity International is launching the Fidelity Wealth Builder Fund through it’s Indian asset management arm, the new fund is an open ended fund of funds scheme offering asset allocation options with three plans. The investm...Read more



Danish hedge fund nominated for best Global Equity Hedge Fund 08
Jan 23/09
Swiss based hedge fund Farringdon has been nominated for best Global Equity Fund 2008 in the EuroHedge Awards. The fund was founded in 2006 by Danish, Andreas Tholstrup and Dutchman, Bram Cornelisse in 2006.   - We are ...Read more



The end of fund of funds
Jan 23/09
The $50 billion fraud by Bernard Madoff probably spells the end of the fund-of-funds business. While Madoff wasn't operating a hedge fund, he was using some techniques that hedge fund traders would apply — or at least he said he w...Read more



Strippernomics
Jan 22/09
Hustler publisher Larry Flynt and Girls Gone Wild king Joe Francis facetiously asked Washington for a US$5 billion stimulus package for the porn industry in early January. "Americans can do without cars," said Flynt. ...Read more



S&P launches indices to reflect performance of US credit default swap market
Jan 22/09
Standard & Poor's Index Services has announced the launch of the S&P CDS US Indices, which are designed to measure the performance of the US credit derivatives market, worth a notional USD29trn, according to DTCC Deriv/...Read more



Are we seeing the last rites of the hedge fund sector?
Jan 22/09
It has been revealed that a massive $152 billion was withdrawn from hedge fund assets in the first three months of 2008. The figure is far greater than anybody had expected and shows the massive reduction in confidence in a sec...Read more



Hedge Fund Run by Ex-Car Salesman Is Scam, SEC Says
Jan 22/09
U.S. regulators sued a used-car salesman from West Texas for touting a $45 million hedge fund that they said was actually a Ponzi scheme. Rod Cameron Stringer misappropriated millions of dollars from investors si...Read more



UAL: Hedge Funds Hurt Us on Fuel
Jan 22/09
Caught in a vicious cycle as hedge funds and other financial players ratcheted the price of oil steadily higher, United parent UAL(UAUA Quote - Cramer on UAUA - Stock Picks) on Wednesday reported a $547 million fourth-quarter loss...Read more



Citi top three to forfeit 08 bonuses
Jan 22/09
Citigroup Inc.'s top three executives have chosen to forfeit any bonuses that they might have earned last year, according to a filing that the company made with the Securities and Exchange Commission today.Chief executive Vikram...Read more



Suspected NYSE Insider Trading Rose in 2008
Jan 22/09
Suspected insider trading cases reached an all-time high last year, driven less by hedge funds and more by pillow talk between relatives and friends, the head of surveillance at the New York Stock Exchange said on Wednesday [Ja...Read more



Newsletter Touted Missing Money Manager as U.S. No.1
Jan 22/09
"America's Top Ranked Money Manager," read the 2003 headline in The Wall Street Digest, an investment newsletter. Fast-forward six years: that money manager, Arthur Nadel, has vanished along with an estimated $350 m...Read more



Madoff Clients May Recoup More Losses Through Taxes Than Suits
Jan 22/09
Customers of Bernard Madoff, accused of bilking his clients in a $50 billion Ponzi scheme, may recover more of their investment losses through tax strategies than by suing Madoff or his bankrupt firm. “If they inve...Read more



Hedge fund managers could be sued for bad advice
Jan 22/09
Loopholes in partnership law could allow investors to sue individual hedge fund managers - and possibly partners in law firms - for giving bad investment advice. Jérôme de Lavenère Lussan, MD of London law firm Lussan, says...Read more



Suitability grabs regulators attention
Jan 22/09
Retail investors want greater accountability from both dealers and regulators.Knowing the clients you serve and the investments you sell should be a no-brainer for any financial advisor. Yet suitability is a perennial source of ...Read more



Japanese Housewives Desperate After Currency Scheme Collapses
Jan 22/09
Allied LLC, an Osaka-based asset manager, is under investigation on suspicion it bilked Japanese investors, mostly housewives, using a currency trading fund, a police official said. Investigators said a woman they ...Read more



Worries over hedge funds send LSE to four-year low
Jan 21/09
Shares in the London Stock Exchange dropped nearly 10 per cent or 50½p to a four-year low of 463½p amid fears that its trading update tomorrow will show another dramatic slump in the value of equities traded as struggling hedg...Read more



Hunt for Hedge Fund Manager Continues
Jan 21/09
Around the same time he mysteriously vanished, hedge fund manager Arthur G. Nadel owed a $50 million payout to some of the investors who had entrusted their life savings to him, an accountant told The Associated Press. Instead...Read more



Fund managers cautious on distressed investing
Jan 21/09
Despite a plethora of new opportunities for distressed investing, hedge fund managers have grown more cautious about investing in financially troubled companies this year, according to a survey released on Tuesday. He...Read more



Obama calls for watchful eye on markets
Jan 21/09
Calling our current economic crisis a function of “greed and irresponsibility on the part of some” but also placing responsibility on “our collective failure to make hard choices and prepare the nation for a new age,” President...Read more



New Era in Hedge Fund Transparency?
Jan 21/09
Just as President Barack Obama is expected to call for a new era of responsibility and accountability in America at his inauguration today, hedge funds and fund-of-funds are going to be asked to do the same. In the wake of...Read more



Fund Administration Key to Trust
Jan 21/09
Independent fund administration is key to rebuilding investor trust, confidence and new business for hedge funds worldwide, according to Dermot Butler, Chairman of the Custom House Group.“In today's new investment environment, ...Read more



Hedge Funds Worst Historical Net Outflows of Capital in 2008
Jan 21/09
Hennessee Group LLC, an adviser to hedge fund investors, estimates that hedge fund industry assets decreased by $782 billion in 2008 to $1.21 trillion (see chart).  The decrease in assets represents a -39% decline in industr...Read more



AlphaMetrix Selects Spectrum GFA for Middle and Back Office Services
Jan 21/09
Spectrum Global Fund Administration, a leading provider of middle and back office administration solutions for hedge funds and funds of funds, today announced AlphaMetrix, LLC as its most recent managed account platform clie...Read more



Hedge Funds Care to Host 11th Annual New York Open Your Heart to the Children Benefit
Jan 21/09
Only Grant Making Charity Exclusively Focused On the Prevention and Treatment of Child Abuse Plans Flagship Gala on February 11, 2009 at Cipriani 42nd Street NEW YORK, January 21, 2008 – Hedge Funds Care, a global non-profit organ...Read more



Hedge Fund Run by Ex-Bondsman Is Ponzi Scam, SEC Says
Jan 21/09
A former Texas bail bondsman who told investors he ran a $45 million hedge fund and installed a swimming pool at his office was sued by U.S. regulators for allegedly operating a Ponzi scheme. Rod Cameron Stringer of Lame...Read more



Hedge-Fund Investors Remove Record $152 Billion in Last Quarter
Jan 21/09
Hedge-fund investors withdrew a record $152 billion in the fourth quarter as the industry posted its worst returns in almost two decades, according to Hedge Fund Research Inc. Global assets dropped to $1.4 trillion at the en...Read more



Restructuring of $32-billion ABCP market begins
Jan 21/09
The 17-month agony of the Canadian asset-backed commercial paper market is over, with the implementation of a restructuring of $32-billion worth of notes. However, the pain will linger for years for many institutional and cor...Read more



Fund of funds prepare for hostile investor reaction in Madoff fallou
Jan 20/09
Fund of funds managers who invested with Bernard Madoff are preparing themselves for a hostile reaction from their investors, even if they slashed or redeemed their positions before the Wall Street financier’s alleged $50bn (€37...Read more



Fund admits short-selling bank shares
Jan 20/09
A hedge fund admitted yesterday it had been speculating that shares in Barclays would fall. The admission by Lansdowne Partners that it had been shorting Barclays shares on Friday - a day when the bank lost a quarter ...Read more



Hedge fund industry could become the investment banks of the future
Jan 20/09
Mark Twain said that visiting a fortune-teller “was just as good as going to the opera, and the cost scarcely a trifle more — ergo, I will disguise myself and go again”. But he was visiting a clairvoyant at the height of 19th...Read more



Most managers say market’s undervalued
Jan 20/09
Every quarter, Russell Investments surveys a sample of investment decision-makers to collect their opinions about market direction, sectors and styles to watch, and economic trends that could impact investment strategy. The res...Read more



CIBC World Markets appoints Darcy Browne to financial solutions group
Jan 20/09
Darcy Browne has joined the fixed income, currencies and distribution team at CIBC World Markets as managing director for foreign exchange institutional sales. He has 19 years' experience in capital markets and was most recent...Read more



Standard & Poors launches valuation scenario services
Jan 20/09
Financial market information provider Standard & Poor's has announced the launch of valuation scenario services for structured asset portfolios, which aim to help investors evaluate the intrinsic value of structured assets ...Read more



More Missed Signals on Madoff
Jan 20/09
A housekeeper's lawsuit against an accountant may be an indicator that the Securities and Exchange Commission blew another chance to uncover the alleged fraud at Bernard Madoff's business. It may also indicate that others kn...Read more



Hedge Funds Help Fund Obama Inauguration
Jan 20/09
Today’s inauguration of Barack Obama as the 44th president of the United States will be the most expensive in history. And despite their troubles, hedge fund managers and employees are helping to foot the bill. The bill for Ob...Read more



RBC: Hedge Funds Down 21% In 2008
Jan 20/09
As more and more hedge funds report their December returns, it seems less and less likely that the industry ended its awful year on anything but a down note. The average fund fell 0.35% last month, according to estimated retur...Read more



INVESTOR CONFIDENCE INDEX ADVANCES...
Jan 20/09
Plese click here to read the article ...Read more



Florida Fund Manager Disappears as Clients Report Missing Money
Jan 19/09
Arthur Nadel, a hedge-fund manager in Sarasota, Florida, has disappeared and clients are concerned they may have lost hundreds of millions of dollars, according to law enforcement officials. Nadel, 76, is president of Sc...Read more



Hedge funds fold
Jan 19/09
Incautious managers falter, yet some investors advanceYear after year, the hedge fund industry dazzled Wall Street by delivering "absolute returns" - outsized profits whether markets rose or fell. Using sophisticated t...Read more



Whats the Good of Hedge Fund Indexes and Fund of Funds?
Jan 19/09
Will 2008 be remembered as the year that dealt a death blow to hedge fund of funds (FOFs) and hedge fund indexes? I love hedge funds, but I am not a big fan of hedge fund indexes or FOFs. (I like the foreign listed hedge funds a ...Read more



Barclays Global to remain in Toronto, cut staff
Jan 19/09
Barclays Global Investors is not closing its trading and asset-management operations in Canada, as previously reported in other media. However, BGI will be relocating some elements of its Toronto shop to its San Francisco h...Read more



Hedge Funds, Unhinged
Jan 19/09
LAST summer, Kenneth C. Griffin and his wife, Anne, hedge fund managers both, were so rich that they did something most wealthy couples don’t do until much later in life. Still in their 30s, they hired a Ph.D. student in economi...Read more



Hedge funds move to limit rules burden
Jan 19/09
Regulation is coming to the hedge fund industry, and the world's top traders know it. In Britain and the US hedge funds have set up new codes of conduct in an effort to head off heavy-handed regulation, while industry lobbyists...Read more

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