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Wednesday, December 12, 2018

General News




Hedge Fund Roach Motels Might Just Be a Blessing
Dec 08/08
The financial crisis is imposing heavy burdens on the hedge-fund industry, and the strain has become more visible. By the end of last week, about 100 hedge funds imposed restrictions on withdrawals. Many funds have become financia...Read more



IAM urges clarity in hedge fund industry
Dec 08/08
Hedge funds will need to be more transparent in 2009 after a rocky year for the industry, warned fund of hedge funds manager International Asset Management.The fund of hedge funds industry has been hit, along with much of the fina...Read more



Hedge fund manager bets on continued crude slump
Dec 08/08
Crude oil prices could fall as low as $20 a barrel in 2009 as falling U.S. demand outstrips Chinese growth, asset manager Jacques Mechelany told Reuters this week.Having already profited handsomely from the steep decline in crude ...Read more



Top US university endowments grow hedge fund portfolios to $63 billion
Dec 08/08
The 60 largest US university endowments, each with $1 billion or more in assets, now total $290 billion in assets of which $63 billion is invested in hedge funds. These investments translate into inflows of nearly $23 billion over...Read more



Citadel Retreats in Asia After Earlier Expansion
Dec 08/08
Citadel Investment Group LLC, the hedge-fund manager founded by Kenneth Griffin, will close its Tokyo office and cut other Asian operations, eliminating 37 jobs less than a year after adding people in the region. The layoff...Read more



IndexIQ launches hedge fund replication separately managed account portfolios
Dec 05/08
IndexIQ, a Rye Brook, New York-based developer of index-based alternative investment solutions, has launched three new index-based separately managed account products, offering exposure both positively and negatively to hedge fund...Read more



Citadel Funds Lose 13% in November, 47% This Year
Dec 05/08
Citadel Investment Group LLC, the Chicago-based hedge-fund firm run by Kenneth Griffin, lost 13 percent in November, bringing the decline for the year to 47 percent, according to two people familiar with the matter. Losses ...Read more



KPMG sees new blood reinvigorating hedge fund industry despite shake-out
Dec 05/08
Next year will see the strong return of value investing, a shake-out in the hedge funds industry that will also see a welcome influx of new talent, changes to prime brokerage relationships and probably more intrusive regulation, a...Read more



Industry giants limit investor withdrawals
Dec 05/08
Some of the top hedge-fund firms have taken steps to limit investor withdrawals in recent days, demonstrating how the financial crisis is affecting even the oldest and most respected players.Farallon Capital Management, ranked ear...Read more



Hedge fund cowboys damaging industry: Veritas
Dec 05/08
Hedge funds are suffering "tremendous" reputational damage because promises to make money whichever way markets move have not been fulfilled, although in the long run the industry will benefit from the shake-out, Veritas...Read more



Derivative use forecast to rise
Dec 05/08
Use of derivatives by fund managers will rise over the next 12 to 18 months despite market turbulence and record levels of redemptions from hedge funds, according to a report from Protiviti, an independent risk consulting company....Read more



A broad view of hedge fund performance reveals plenty of strong performers
Dec 05/08
PerTrac review:New York – December 4, 2008 – PerTrac Financial Solutions (www.pertrac.com) today announced the results of a new review of hedge fund performance, leverage, and liquidity, which provides granular insight into the in...Read more



Hedge funds should beware pressure on fees-Lipper
Dec 05/08
Two and twenty model under scrutiny but managers must consider long term implications of undermining proposition to investors.LONDON, Dec 4 (Thomson IM) - Hedge funds should be wary of being pressured into cutting fees because of ...Read more



Alternative holdings sour for endowments, pensions
Dec 04/08
College endowments and state pension funds plowed billions of dollars into hedge funds and private-equity investments as a way to balance their stock holdings, and for a time they got supercharged returns.Those days are over. From...Read more



One fifth of hedge funds may fail: Man Group exec
Dec 04/08
Up to a fifth of managers in the $1.6 trillion hedge fund industry are at risk of going out of business in the next two years, a Man Group Plc (EMG.L: Quote, Profile, Research, Stock Buzz) strategist said on Wednesday.Thomas Della...Read more



Hedge funds have not done all that well hedging
Dec 04/08
Harvard's endowment has lost an estimated 30% just since mid-year. You read that right.The endowment of one of the most elite educational institutions in the world, run by some of the best and brightest investment managers, who ha...Read more



Does Fund Size Matter?
Dec 04/08
 Recent market turbulence has renewed the debate on the future of the hedge fund industry. Anecdotal evidence points to many hedge funds suffering severe losses and even closing shop. As a result, some industry observers think tha...Read more



New Years Resolution: Get Out Of Hedge Funds
Dec 04/08
The hedge fund industry is bracing for a massive “end-of-the-year” sale as jittery investors opt to stash their cash in safer places.Hedge fund redemptions are expected to accelerate in December as many clients have already given ...Read more



2008 Canadian Investment Awards Winners
Dec 04/08
Gerald Coleman of CI Investments Inc. was named Morningstar Fund Manager of the Year Wednesday night at the Canadian Investment Awards in Toronto. He is the first fund manager in 14 years to have won this award twice, indicating h...Read more



Prime hedge fund worries
Dec 04/08
The collapse of Lehman Brothers didn't just take down the whole investment banking model of Wall Street; it also put the squeeze on a significant number of other investments, including principal-protected notes and hedge funds. Le...Read more



Hedge Funds Lower Fees, Lengthen Lockups on New Funds
Dec 03/08
Artradis Fund Management Pte, RAB Capital Plc’s Northwest unit and Cannizaro (Hong Kong) Ltd. are cutting fees and locking up investors’ money for longer in new hedge funds that will buy bonds after prices fell in Asi...Read more



Augustus macro hedge fund doubles assets
Dec 03/08
UK-based fund firm Augustus Asset Managers said on Tuesday assets under management in its fixed income and currency macro hedge fund have bucked market trends and doubled in the year to end-October. Augustus, formed...Read more



Hedge fund firm PAAMCO integrates smaller group
Dec 03/08
Pacific Alternative Asset Management Co (PAAMCO), which invests $9 billion in hedge funds, said on Tuesday it is integrating a smaller hedge fund investment group to expand its reach in Asian markets. PAAMCO, a prom...Read more



Hedge fund global assets fall $170bln
Dec 03/08
Global hedge fund industry assets fell by $170 billion (114 billion pounds) in the third quarter as negative returns of more than 10 percent combined with heavy net outflows, research firm Lipper TASS said. The data...Read more



Institutional investors delay putting more money into hedge funds
Dec 03/08
Almost half (46%) of institution investors expect to continue to allocate capital to hedge funds, according to the latest survey* by Preqin. The report analysed investor trends and attitudes to the asset class in 2009 ...Read more



Forget seeking alpha, how about preserving wealth?
Dec 03/08
The latest Lipper Tass numbers for hedge fund asset flows are out - they reflect a positively dismal third quarter for the industry.Lowlights: - Net hedge fund industry asset flows in third quarter 2008 reve...Read more



Recovery starts with resources, Sprott says
Dec 03/08
After watching governments pour trillions of dollars into the financial system with nothing positive to show for it, Eric Sprott thinks it is time for a new approach.In his latest "Markets at a Glance" commentary, the fa...Read more



Fortress Halts Withdrawals From Global Macro Fund
Dec 03/08
Fortress Investment Group LLC halted withdrawals from its largest hedge fund after investors asked to pull $3.51 billion by year-end. Redemptions from Drawbridge Global Macro Fund Ltd. include $1.5 billion in requests disc...Read more



Highbridge Asia Hedge Fund Said to Limit Withdrawals
Dec 02/08
Highbridge Capital Management LLC, the hedge fund company owned by JPMorgan Chase & Co., is limiting client withdrawal requests to avoid selling assets at distressed prices, according to a person familiar with the m...Read more



Countrywide Sued by Fund Over $8.4 Billion Loan Deal
Dec 02/08
Countrywide Financial Corp., the home lender acquired by Bank of America Corp., was sued by Greenwich Financial Services Fund over claims an agreement to reduce payments on mortgages by $8.4 billion would hurt investo...Read more



Paulson Bucks Paulson as His Hedge Funds Score $1 Billion Gain
Dec 02/08
There’s not a lot of light in Paulson & Co.’s 28th-floor headquarters on a drizzly November afternoon. The Alexander Calder sculpture and multicolored prints have been shipped to the firm’s new offices six blo...Read more



EU moves toward new hedge fund rules
Dec 02/08
BRUSSELS, Belgium -- The European Union will this week take the first step toward new rules governing high-risk hedge funds, the EU's financial services chief said Monday.EU Commissioner Charlie McCreevy, long opposed ...Read more



Bold hedge fund star says stellar performance nolonger enough
Dec 02/08
Popular legend has it that hedge fund managers are shy, secretive creatures who live in perpetual fear of the glare of media attention.By some distance, that description does not apply to Hugh Hen...Read more



Institutional Investors Still Interested In Hedge Funds
Dec 02/08
Turbulent market conditions have taken a heavy toll on the hedge fund industry, but a select group of investors is still optimistic about the long-term success of the industry. According to...Read more



IndexIQ Offers HF Replication Portfolios
Dec 02/08
IndexIQ, a developer of index-based alternative investment products, has launched three new index-based separately-managed account offerings for high-net worth investors. The firm’s IQ Alternative Beta Portfolio uses ...Read more



Glenwood, Man Global Strategies to merge
Dec 02/08
Man Investments is combining two of its core alternative investment management units — Glenwood Capital Investments and Man Global Strategies — into a single unit, Man Glenwood Strategies. The new division will be headquartered in...Read more



CIBC reaches settlement with former managing director
Dec 01/08
Bank enters into consulting arrangement with Flynn CIBC announced Friday that it has reached an “amicable resolution of all outstanding matters” with Paul Flynn and has entered into a consulting arrangeme...Read more



Tudor’s BVI Suspends Withdrawals, Plans Split Into Two Funds
Dec 01/08
Tudor Investment Corp., the firm run by Paul Tudor Jones, temporarily suspended redemptions from the $10 billion BVI Global Fund Ltd. as it splits the hedge fund into two, according to a person familiar with the m...Read more



Funds slash fees to pull in cash
Dec 01/08
Funds of hedge funds are slashing management and performance fees to attract new investment. (PDF) As more and more investors ask to withdraw money from funds of hedge funds, many managers face a difficult...Read more



Allianz Hedge Fund CFO Faces Liquidation After Vote
Dec 01/08
Allianz SE’s 300 million-euro ($387 million) collateralized fund obligation linked to the performance of 80 hedge funds will be liquidated after a vote by investors. Bondholders decided to close the so-called CFO a...Read more



London Diversified Said to Halt Withdrawals From Hedge Funds
Dec 01/08
London Diversified Management LLP, the 13-year-old firm run by Robert Standing and David Gorton, halted investor withdrawals after its two hedge funds posted their biggest loses, two people familiar with the matte...Read more



Hedge Fund Manager Hendry Bets on Deflation With U.K. War Loans
Dec 01/08
Hugh Hendry, who oversees about $500 million as co-founder of Ecletica Asset Management in London, said he’s buying World War I debt on the bet the U.K. is due for its worst round of deflation since the Great Depress...Read more



Louisiana Interviews FoHFs Finalists
Dec 01/08
The Board of Trustees of the $1.4 billion Louisiana Municipal Police Employees’ Retirement is nearing the end of its search for a hedge fund of funds shop. The plan’s Board interviewed six finalists at its Nov. 12 but...Read more



Russian-Focused Pharos Funds Fall (Again) In October
Dec 01/08
Pharos Financial Group’s tri of hedge funds fell again last month amid the continuing sell-off in the Russian equity market. During the month, the Pharos Russia Fund was down 12.9% (-36.4% YTD), the Pharos Gas Investm...Read more



Matrix withdraws Gottex mandate
Nov 28/08
London asset manager Matrix is to remove peer Gottex Fund Management from managing one of its portfolios after Gottex suspended redemptions from two of its own products in which Matrix invests. The move marks an e...Read more



Simon Treacher quits BlueBay Asset Management over alleged changes to figures
Nov 28/08
The manager of a £900 million Mayfair hedge fund has quit after being accused of making unauthorised changes to its figures during a stampede of clients demanding their money back. Simon Treacher has resigned from ...Read more



UK funds drop 11% in October
Nov 28/08
The UK's fund management industry, which is the largest in Europe, continued to suffer client outflows as well as falling markets during October, according to the latest sales statistics from the Investment Manage...Read more



Hedge funds flying in face of transparency calls
Nov 28/08
Hedge funds have always had a reputation for secrecy but the recent crisis engulfing the industry is prompting some to become private to the point of paranoia.SRM's decision to sue the Wall Street Journal for...Read more



Bluebay Closes Hedge Fund, Falls the Most Since IPO
Nov 27/08
Bluebay Asset Management Plc dropped the most since its initial public offering two years ago after the manager of fixed-income investments said it will shut down its Emerging Market Total Return Fund. The $1.2 billion h...Read more



Winners announced for 2008 European Fund of Hedge Funds Awards
Nov 27/08
The best of the fund of hedge fund business were honoured at the Hedge Funds Review's seventh annual European Fund of Hedge Funds Awards gala dinner on November 26. The winners of the 18 categories highlighting the...Read more

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