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Monday, December 10, 2018

General News




US hedge funds to cut IT spending by 40 per cent to USD882m in 2009, says Tabb study
Oct 30/08
New Page 1 Hedge fund managers appreciate more than ever the benefits of technology in developing and implementing effective trading strategies, but the effects of the market dislocation are set to depress the...Read more



Hedge Fund-Backed Film Financing Gets Junk Rating
Oct 30/08
New Page 1 The latest Hollywood box-office bomb won’t be shown on the silver screen, but may appear as another red line in a hedge fund’s earnings statement. Paramount Pictures’ Melrose I financing, back in lar...Read more



Citadel To Close $1B Fund Of Hedge Funds
Oct 30/08
New Page 1 Citadel Investment Group is shuttering a $1 billion fund of hedge funds. The fund, Fusion, is run by Citadel Alternative Asset Management, set up by the Chicago hedge fund giant last year. The fund w...Read more



Top Hedge Funds Raise Big Bucks Amidst Turmoil
Oct 30/08
New Page 1 Like most of their hedge fund brethren, Steven Cohen, David Einhorn and Paul Singer are facing redemptions. Unlike other hedge funds, however, they are able to replace it. Faced with investors with...Read more



Israels Plea Delayed Again; Ordered to Evaluation
Oct 29/08
The plea hearing of Sam Israel, the founder of hedge-fund firm Bayou Group LLC who jumped bail rather than face prison for a $400 million fraud, was delayed a third time so he may undergo medical and psychological evaluation. Isra...Read more



Hedge Funds File For Bankruptcy, Blame Petters
Oct 29/08
Five Lancelot Investment Management hedge funds have filed for bankruptcy, blaming Minnesota businessman and hedge fund manager Tom Petters, who is accused of orchestrating one of the largest Ponzi schemes in history.The five Lanc...Read more



Domestic hedge funds face bleak future
Oct 29/08
Hedge fund investors are opening letters these days that explain why their savings are down 40 or 50 or, gasp, 60 per cent this year, and what portfolio managers intend to do about.Most of these performance reports contain a frank...Read more



Soros Say Two-Thirds Of Hedge Funds Will Sink
Oct 29/08
Last week, GLG Partners co-founder Emmanuel said that he expected as many as one-third of hedge funds to close their doors. George Soros is doing him a third better.Speaking at the Massachusetts Institute of Technology, the Soros ...Read more



Volkswagens improbable rise sends hedge funds scrambling
Oct 29/08
ROME -- Hedge fund star David Einhorn is best known for making a killing by riding the collapse of Lehman Brothers. This time, the Greenlight Capital manager got caught on the other side.One of the biggest short squeezes in histor...Read more



Private equity and hedge funds
Oct 29/08
Some politicians have fallen into the trap of bundling private equity and hedge funds together. That is a mistake: private equity is long term and long only, and that makes it fundamentally different, says Ajay Pathak of SJ Berwin...Read more



Hedge funds taking it on chin; losses expected to fuel mergers
Oct 28/08
Hedge fund manager Ravi Sood is having a rough time navigating through the tsunami that has hit stock markets around the world.The stellar record of his Lawrence Partners Fund suffered a 48-per-cent hair cut in September, sending ...Read more



Hong Kong Says Hedge Funds Provided Inaccurate Data
Oct 28/08
Some hedge fund managers provided inaccurate information to investors in newsletters and monthly fact sheets, Hong Kong's Securities and Futures Commission said. In one instance, the hedge fund manager excluded the fund's largest ...Read more



Hedge funds contemplate safer climate in US
Oct 28/08
A new front is opening up in the battle between London and New York to be the world's dominant financial centre. Hedge funds, and the thorny question of where they decide to do business over the coming months, could mark a turning...Read more



Hang On: Hedge Funds Are Not Done Selling
Oct 28/08
The newspapers blame the weakening economy and somber earnings forecasts for the sharp selloffs we've been experiencing. Declining earnings and recession fears play into the declines, to be sure, but the real story -- which does n...Read more



UK Hedge Fund Managers Recieve AIMA’s Latest Capital Adequacy Guidance Update
Oct 28/08
Global representative association for the hedge fund industry, the Alternative Investment Management Association (AIMA), has issued updated guidance to its members on how to implement an Internal Capital Adequacy Assessment Proces...Read more



UBS Launches Market-Neutral Hedge Fund
Oct 28/08
While this may not be the ideal market to launch a hedge fund, UBS is enjoying surprising success. UBS Global Asset Management has launched the U.S. Fundamental Equity Market Neutral fund, an equity long/short hedge fund. The port...Read more



Devaney Booed Off Stage
Oct 28/08
JOHN Devaney, who be came the poster-boy for hedge-fund blow-ups when his $600 million fund went belly-up earlier this year after a wrong-way bet on the direction of the asset-backed securities index, was heckled off the stage in ...Read more



Epic Capital shuts flagship hedge fund
Oct 28/08
Epic Capital Management Inc. is shutting down its flagship hedge fund after a slump in returns and a spate of redemption requests by investors. The Toronto-based firm had seen its assets tumble from $300-million to $200-million as...Read more



US hedge fund admits 35% plunge in value since downturn
Oct 27/08
One of the world's biggest hedge fund managers, Citadel, told clients last night that two of its main funds have lost 35% of their value this year after rumours swept the market about its financial position.The Chicago-based firm,...Read more



Lamperts a Huge Loser: $30M/hour
Oct 27/08
Even for a billionaire hedge-fund titan, losing $30 million an hour has got to be a bummer. That's what Eddie Lampert, the chairman of Sears Holdings, has experienced with just his nine largest holdings since Sept. 19 - over just ...Read more



Desjardins pulls funds amid market plunge
Oct 27/08
Credit co-operative shuts down two lines of principal-protected notes, joining Sun Life and Manulife in protecting against losses.Desjardins Group is winding down hedge fund-linked products, as Canada's largest financial co-operat...Read more



More weak data, hedge-fund selling seen this week
Oct 27/08
NEW YORK (AP) — In a typical recession, stocks start recovering about six months before the economy does. The crisis we're in right now, however, is anything but typical: Lending is frozen, hedge-fund selling is happening on a mas...Read more



Fidelity Launches Fund For FoFs
Oct 27/08
Fidelity Investments plans to launch a new underlying fund for its funds of funds lineup in December. The Fidelity Strategic Advisers Value Fund will not be available for sale to the general public, but will instead be offered ...Read more



HFN Conference: Investor Relations, Cap Raising
Oct 27/08
A portfolio manager must take an active role in capital-raising as well as the entire non-investment operation of his or her hedge fund, an industry panel stressed Thursday. Panelist Matt Hoffman, chief investment officer of ...Read more



Gloomy Forecast On Hedge Funds
Oct 25/08
LONDON, Oct. 24 -- The hedge fund industry, a once-unstoppable profit machine that has already lost more than $200 billion in value this year, could shrink by a quarter or more as the global financial crisis deepens, according to ...Read more



Hedge Fund Withdrawals Stress Market; Citadel Reassures Clients
Oct 25/08
New Page 1 Hedge funds are aggravating the worst market selloff in 50 years as they dump assets to meet investor redemptions and keep lenders at bay. U.S. hedge-fund managers may lose 15 percent of assets t...Read more



Thousands of hedge funds to close, says GLG chief Emmanuel Roman
Oct 24/08
New Page 1 Thousands of hedge funds are on the brink of failure as the global economy contracts with unexpected severity, according to the chief executive of GLG, Europe's biggest hedge fund. ...Read more



Coast Asset Management recruits institutional marketing chief for North America
Oct 24/08
Santa Monica-based Coast Asset Management, an independent multistrategy alternative investment manager, has appointed industry veteran Timothy Holmes as a managing director and head of institutional marketing and investor relation...Read more



Hedge Connection sees investor success for members
Oct 24/08
Hedge Connection, an internet-based research and networking platform for hedge funds and qualified investors, has provided an update on the progress of its hedge fund members following allocations to credit, global macro and PIPES...Read more



Bank Report Explores Hedge Fund Myths
Oct 24/08
Many hedge fund firms don’t deserve their public images as volatile, alpha-driven investment vehicles, according to a report from the Bank of New York Mellon.The bank’s report, which was prepared with research firm Oxford Metrica,...Read more



Regent Global Funds Remains a Safe Haven During Market Crash
Oct 24/08
Regent Global Funds Remains a Safe Haven During Market Crash.Positive 8.76% YTD for Investors in Asset Based Lending. Chicago, Illinois: October 21, 2008:  Alternative investment fund and lender, Regent Global Funds (RGF), is repo...Read more



Russian hedge funds face closure
Oct 24/08
New Page 1 Up to half of Russian hedge funds could go out of business as the financial crisis sends investors fleeing and the stock market continues to fall, according to industry experts. Speaking at the R...Read more



This Hedge Fund Manager Tries to Short Himself: Michael Lewis
Oct 24/08
New Page 1 The first time I sensed the alarming change in my soul was when I caught myself, five minutes after the market open, reaching for a reefer. Trust me, I didn't amass legacy wealth (underestimated b...Read more



Handful of funds make money as peers feel pain
Oct 23/08
New Page 2 A handful of hedge funds bucked the trend in their industry by making money in September while the rest were suffering their worst month in a decade.   Hedge funds lost 6.55% last ...Read more



Obama Attacks McCain On Support For ‘Joe The Hedge Fund Manager’
Oct 23/08
New Page 2 Joe the Plumber, meet Joe the hedge fund manager. The U.S. presidential election campaign’s version of class warfare took another turn yesterday, with Sen. Barack Obama (D-Ill.), the Democratic pre...Read more



The Hedge Fund Contagion
Oct 23/08
Investors on Main Street have another reason to fear opening their brokerage statements: the rapidly shrinking hedge fund industry. In the coming months, hundreds of hedge funds may shut their doors, sparking a massive fire sale o...Read more



Hedge Funds Steep Fall Sends Investors Fleeing
Oct 23/08
The gilded age of hedge funds is losing its luster. The funds, pools of fast money that defined the era of Wall Street hyper-wealth, are in the throes of an unprecedented shakeout. Even some industry stars are falling back to eart...Read more



Oracle Hedge Fund Fraudster Flees
Oct 23/08
New Page 2 A phony hedge fund manager has been ordered by a federal judge to repay more than $8.4 million in ill-gotten gains. The only problem is nobody can find him. The United States District Court for the E...Read more



AIMA Launches New Website
Oct 23/08
 The Alternative Investment Management Association (AIMA) has announced the launch of its new and improved website.The re-engineered site has been structured with specific areas for members, investors, policy makers, regulators an...Read more



Riskdata publishes VaR indicators for HFR indices
Oct 23/08
Riskdata, the leading developer of risk management solutions, in close collaboration with Hedge Fund Research Inc., a provider of hedge fund performance data and indices, is starting day-to-day publication of Value-at-Risk (VaR) i...Read more



Pensions to Tackle Counterparty Risk
Oct 22/08
The fallout from global market turmoil is forcing pension schemes to re-examine their investment risks and could result in new guidelines outlining how they can manage their exposure to counterparties. The National Association of ...Read more



Lahde, Who Bet Versus Subprimes, Quits Hedge Funds
Oct 22/08
Andrew Lahde, the hedge fund founder who shot to fame with his small fund that soared 870% last year on bets against U.S. subprime home loans, has called it quits, thanking "stupid" traders for making him rich. In a biti...Read more



Absent Hedge Fund Manager Must Pay $8.4M
Oct 22/08
A court ruled that a hedge fund manager who fled the U.S. when the Securities and Exchange Commission started investigating must pay more than $8.4 million, that is, if anyone can find him. The SEC charged that Spiro Germenis dive...Read more



Cogency upgrades fund of hedge fund software
Oct 22/08
Cogency Software, a provider of portfolio management and accounting solutions for the fund of hedge fund industry, announced the release of Version 3.5 of Fund of Hedge Fund Insight.This new release features full multi-currency su...Read more



Hedge Fund Fraudster Gets Five Years For Ponzi Scheme
Oct 22/08
A convicted San Diego hedge fund fraudster has been sentenced to five years in prison by a federal judge.Paul Henrie Levy, a partner and co-manager of defunct hedge fund Global Money Management, had faced as much as eight years in...Read more



AIMA Updates Capital Adequacy Notes
Oct 22/08
With capital adequacy a life-and-death issue for hedge funds in the current market crisis, one industry association is offering a hand.The Alternative Investment Management Association, the chief lobbyist for hedge funds in the U....Read more



Gottex assets drop in Q3, warns on tough market
Oct 21/08
New Page 1 Guernsey-based hedge fund group Gottex Fund Management (GFMN.S: Quote, Profile, Research, Stock Buzz) reported a near 14 percent decline in assets under management and warned the market turmoil ...Read more



Swiss hedge fund industry to grow as crisis bites
Oct 21/08
New Page 1 GENEVA (Reuters) - Switzerland's fledgling hedge fund industry is set for growth as the credit crisis forces the industry to focus on lower-cost centers and the country aims to lure managers fro...Read more



NewAlpha Pumps $50M Into New Credit Hedge Fund
Oct 21/08
New Page 1 NewAlpha, a French alternative investments incubation shop, has entered into its eleventh seeding agreement, a US$50 million investment in a portfolio managed by Concerto Asset Management. Concerto...Read more



Corporate governance becomes hot topic for hedge funds
Oct 21/08
New Page 1 By James Upton, corporate governance analyst, Association of British Insurers Corporate governance has been dismissed by some as only for ‘open-toed sandal wearers’, not for the well heeled invest...Read more

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