General News

	Worth Interviews Hedge Fund Guru David Einhorn	Sep 25/08
	NEW YORK, Sept 25, 2008 /PRNewswire via COMTEX/ -- The outspoken investor and head of Greenlight Capital talks to Worth magazine about his battle with Allied Capital, his decision to short Lehman Brothers, his opinion of the Secur...Read more
	Clarium Hedge Fund Gained on Stock, Commodity Wagers	Sep 25/08
	New Page 1 Clarium Capital Management LLC, the $7 billion hedge-fund firm run by PayPal co-founder Peter Thiel, profited from turmoil in financial markets as he almost doubled his U.S. stock holdings and wag...Read more
	Deutsche Bank to launch sharia hedge fund platform	Sep 24/08
	LONDON, Sept 23 (Reuters) - Deutsche Bank AG's prime brokerage business is preparing to launch a sharia-compliant hedge fund platform within the next month, as part of its Middle East expansion plans, a senior official said.Deutsc...Read more
	Short Sellers Have Been the Villain for 400 Years	Sep 24/08
	NEW YORK (Reuters)—In 1609, a merchant contracted to sell shares in the Dutch East India Company in the future, sending the company's share price into a plunge. A year later, the authorities imposed the world's first ban on short...Read more
	Hedge Funds Still See Value in Hollywood	Sep 24/08
	The Wall Street fallout is having aftershocks throughout the economy, but believe it or not, the entertainment industry is having no problem securing bank-financed credit. Sure, it's not boom time, but the fact that media companie...Read more
	Canadas commodities- and energy-leveraged economy should benefit from the bailout	Sep 24/08
	Wall Street rescue will hit U.S. with higher inflation, interest rates: CIBC World Markets.But Canada's commodities- and energy-leveraged economy should benefit from the bailout.By IE StaffThe US$700-billion rescue of Wall Street...Read more
	Dubai Govt invests $150m in 3 commodity-related funds	Sep 24/08
	Dubai Multi Commodities Centre, an arm of the Dubai government, invested $150m in three commodity-related hedge funds Friday that will trade commodity equities in compliance with Islamic religious principles.The three funds - Tocq...Read more
	Buffett investment into Goldman Sachs sparks confidence	Sep 24/08
	U.S. Treasury secretary Henry Paulson and Federal Reserve Board chairman Ben Bernanke will continue to plead their case to congress on the U.S. US$700-billion bailout plan.U.S. stock market futures headed higher on Wednesday as bi...Read more
	Topless Hedge Fund Manager Suit Dismissed	Sep 24/08
	If hedge fund managers don’t want to see pictures of their bare breasts published in a national magazine, they had better keep their shirts on at parties.A Manhattan judge has tossed out a lawsuit filed by hedge fund manager Maria...Read more
	Working with the right provider can help ease the process of switching administrators	Sep 24/08
	Till death do us part? Working with the right provider can help ease the process of switching administrators.Making the decision to change administrators is never an easy one. Traditionally, most fund managers only did so in extre...Read more
	Is The Hedge Fund Era Over?	Sep 23/08
	Boutique-founder Charles Montanaro has told Citywire he thinks there is to be a major shift in asset allocation as investors prepare for the next bull market, with the long-only manager poised to benefit from the demise of the hed...Read more
	Hedge Funds The Next Leg Down?	Sep 23/08
	Breakingviews.com is collecting names for the U.S. government’s $700-billion bailout plan — send suggestions to newseditor@breakingviews.com. The U.S. Treasury likes “Troubled Asset Relief Program,” or TARP. Breakingviews.com says...Read more
	Not a Single Canadian Bank Failed During the Great Depression	Sep 23/08
	The McFadden Act of 1927 specifically prohibited interstate branch banking in the U.S., and only allowed banks to open branches within the single state in which it was chartered. Therefore, U.S. banks were forced to be small and l...Read more
	Key questions about the US bail out	Sep 23/08
	With oil spiking and the dollar and global markets falling as the world waits for news on the final terms of US Treasury Secretary Henry Paulson's (pictured) $700 billion bail out plan, one analyst has given up his day job to ask ...Read more
	Hedge fund horsemen of the apocalypse	Sep 23/08
	London - There is nothing like a bit of good publicity to drum up business, and last week hedge fund managers linked to the short-selling of Lehman Brothers and HBOS into oblivion had the kind of coverage even their money can't bu...Read more
	Sextant’s Water Hedge Fund Up 97.5%	Sep 23/08
	While many hedge funds are running aground amidst the market turmoil, one Toronto firm is seeing nothing but clear blue seas.Sextant Capital Management’s Strategic Global Water Fund Offshore finished August up 9.4%, boosting its y...Read more
	Lehman Will Not Return Prime Broker Assets for Months	Sep 22/08
	Hedge fund prime brokerage assets held by Lehman Brothers Holdings Inc. won't be returned for a ``considerable time,'' according to PricewaterhouseCoopers, administrator for the largest bankruptcy. ``Our current view is that this ...Read more
	AIMA Has Doubts On Short Selling Bans	Sep 22/08
	The Alternative Investment Management Association (AIMA) has expressed its doubts over whether the recent bans on short selling of financial stocks taken by financial regulators - the FSA and the Securities and Exchange Commission...Read more
	North American securities industry IT spending to plummet	Sep 22/08
	The bankruptcy of Lehman Brothers and acquisition of Merrill Lynch by Bank of America will contribute to a fall of nearly 15% in IT spending by the securities industry in North America next year, according to Tabb Group.Robert Iat...Read more
	Hedge Funds Raise Cash in Rally, Wait to Gauge Effects Bailout	Sep 20/08
	New Page 1 Hedge funds raised cash holdings during the biggest two-day global stock rally in history because they aren't sure where markets are headed after the U.S. moved to bail out banks and limit bets agai...Read more
	Sharia hedge fund delayed by Lehman fall	Sep 19/08
	New Page 1 Amiri Capital, the Olivant-backed Islamic asset management company, said the collapse of U.S. bank Lehman Brothers had forced it to delay its planned sharia fund of hedge funds. Lehman was lined ...Read more
	Hedge funds clipped by short-selling ban	Sep 19/08
	New Page 1 As short-selling is banned to protect Britain's banks, Gordon Rayner names the men who have made millions from the financial crisis As 70,000 employees of HBOS wonder which of them will still hav...Read more
	Hedge funds flee to safety of large institutions	Sep 19/08
	New Page 1 Scores of big hedge funds have been shifting billions of dollars in prime brokerage business away from Morgan Stanley and Goldman Sachs to operations housed in large commercial banks, in wha...Read more
	Texas Pension Funds Asked Not to Loan Shares for Short Sales	Sep 19/08
	New Page 1 The two biggest public pension funds in Texas, which hold $100 billion in investments, were asked by state Attorney General Greg Abbott not lend shares of some companies to would-be short sellers. ...Read more
	Morningstar to Calculate and Distribute Hedge Fund Indices Using MSCI Barra Methodology	Sep 19/08
	New Page 1 MSCI Barra (NYSE: MXB), a leading provider of investment decision support tools worldwide, including indices and portfolio risk and performance analytics, and Morningstar, Inc. (NASDAQ: MORN), a...Read more
	Hedge fund liquidations up, launches down in first half 2008	Sep 19/08
	New Page 1 In the first half of 2008, 350 funds were liquidated, an increase of 15% over the first half of 2007, according to data from Hedge Fund Research. Over 180 hedge fund liquidations were reported in th...Read more
	SFCS Capital to launch second fund of hedge funds	Sep 19/08
	SFCS Capital Ltd, the Cayman-based fund management affiliate of Swiss Financial & Consulting Services SA, a Geneva-based wealth management firm, announced its intention to launch SFCS Titans, a Canadian offering entirely compr...Read more
	Hedge Fund Industry Supports Achieving Stability in Markets	Sep 19/08
	Hedge Fund Industry Supports Achieving Stability in Markets, Cautions against Longer-Term Consequences of Short-selling Rules London, 19 September 2008 - The Alternative Investment Management Association (AIMA) - the leading globa...Read more
	Market rally due to short-selling ban: Sprott	Sep 19/08
	Eric Sprott thinks most of the massive rally in world equity markets is due to temporary bans on short sales of financial services stocks already imposed by U.S. and European regulators.“I suspect most of today's rally is because ...Read more
	Shorting ban could stall hedge fund activity	Sep 19/08
	While the U.S. government's ban on short-selling financial stocks has helped boost markets, this temporary plan will put hedge funds in a tough spot, at least until the restriction is lifted on October 2."Shorting is very muc...Read more
	Morgan Stanley Loses Hedge-Fund Clients as Stock Tumbles 42%	Sep 18/08
	New Page 1 Morgan Stanley is losing hedge-fund clients who are concerned that a record drop in the New York- based investment bank's stock threatens its finances, investors and industry executives said. He...Read more
	Hedge funds may be next	Sep 18/08
	The next wave of failures in the growing U.S. economic crisis is likely to occur in the opaque hedge fund industry, which is facing mounting losses from interconnected contracts that failed or crippled such financial services busi...Read more
	SEC May Require Disclosure of Hedge Funds Short-Sale Positions	Sep 18/08
	The U.S. Securities and Exchange Commission may require hedge funds to disclose their short-sale positions and plans to subpoena the funds' communication records in an effort to stem turmoil in stock markets. Hedge funds and inves...Read more
	Canada celebrates coming of age	Sep 18/08
	Canadian hedge fund industry celebrated the best-of-the-best: Canada celebrates coming of age18 September 2008, TORONTO — Tuesday night was one of celebration for hedge fund managers and service providers in the alternative asset ...Read more
	Scotia Capital Canadian Hedge Fund Performance Index down in August	Sep 18/08
	The Scotia Capital Canadian Hedge Fund Performance Index finished August 2008 down 2.99% on an asset weighted basis and down 1.89% on an equal weighted basis. The index underperformed both the TSX Composite and the S&P 500 in...Read more
	Hedge fund liquidations up, launches down in first half 2008	Sep 18/08
	In the first half of 2008, 350 funds were liquidated, an increase of 15% over the first half of 2007, according to data from Hedge Fund Research. Over 180 hedge fund liquidations were reported in the quarter of 2008, 10 up on the ...Read more
	Buffett's time bomb goes off on Wall Street	Sep 18/08
	On Main Street, insurance protects people from the effects of catastrophes.But on Wall Street, specialized insurance known as a credit default swaps are turning a bad situation into a catastrophe.When historians write about the cu...Read more
	Hedge Fund CEO Says Canadian Firms Could Become Takeover Targets	Sep 17/08
	One of the world's largest hedge fund players warned a Bay Street audience Tuesday that Canadian companies must work to "close the value gap" for their shareholders or risk becoming takeover targets by activist sharehold...Read more
	Sentry Select buys hedge fund Waterfall Investments	Sep 17/08
	Canada's Sentry Select Capital Corp said on Monday September 8th it has acquired hedge fund manager Waterfall Investments Inc through a subsidiary it created with C.A. Bancorp .Sentry did not disclose the financial terms of the de...Read more
	Butterfield Fulcrum Group completes merger to become USD100bn administrator	Sep 17/08
	Butterfield Fund Services, formerly a wholly-owned subsidiary of Bermuda's Butterfield Bank, and Fulcrum Group, an independent fund administrator also with headquarters on the island, backed by 3i, have completed their merger to f...Read more
	Thomson Reuters launches independent valuation risk service	Sep 17/08
	Thomson Reuters has launched a global service that aims to provide financial institutions with independent valuations across various asset classes and instrument types, and which it says meets calls from the UK's Financial Service...Read more
	Hedge funds growth prospects hit by Lehmans demise	Sep 17/08
	The future growth prospects for the almost $2,000bn global hedge fund market are in doubt as funds are being forced to de-lever and sit on large cash balances as a result of the severe pressure on the prime brokers they largely de...Read more
	Torontos Lionhart freezes redemptions on 2 ailing hedge funds	Sep 17/08
	Lionhart, the Toronto-based hedge fund and private equity firm, has suspended redemptions on two global multi-strategy hedge funds, the Lionhart Global Appreciation Fund and Lionhart Aurora Optimum Fund. ...Read more
	Elite hedge managers honoured	Sep 17/08
	While many Canadian hedge funds have been punished by turbulence in the financial markets along with their U. S. counterparts, the industry's growth trajectory suggests some will emerge stronger than ever. And as it gains prominen...Read more
	Lehman, Merrill woe will be great news for big hedge funds, not so good for small hedge funds	Sep 16/08
	This will cut into all hedge funds' profitability in the short term. Small hedge fund managers will be most hurt by this, as their profit margins, in dollar terms, are the slimmest. Bankers will also impose the most stringent term...Read more
	More trustees turn to hedge fund strategies	Sep 16/08
	Trustees are increasing hedge fund allocations as concern over investment diversification and market risk exposure grows, Hewitt Associates says. During the last two years Hewitt has advised its clients on 54 hedge fund manda...Read more
	50% of institutional investors to increase allocations to alternatives over next five years	Sep 16/08
	Almost 50 per cent of institutional investors are looking to increase allocations to alternative investments over the next five years, according to a report by FineAnswers, in association with Conexus Financial.The report, which i...Read more
	HF Investors Seek Shelter From Storm	Sep 16/08
	Hedge fund investors are trying to sidestep meltdowns, Financial Times reports.Take the collapse of Bear Stearns’ high-grade structured credit and structured credit enhanced leverage funds, which reportedly invested primarily in t...Read more
	Hedge Fnds Pulled Back From Lehman Prime Bkg Before Bankruptcy	Sep 16/08
	NEW YORK -(Dow Jones)- Hedge funds were leaving the prime brokerage business of Lehman Bros. (LEH) long before Lehman filed for Chapter 11 bankruptcy Sunday, and now, business there has all but stopped, according to sources.But in...Read more
	Hedge funds rethink prime broker risk	Sep 16/08
	About 100 hedge funds that used Lehman Brothers as their prime broker had positions held via the failed bank frozen on Monday as administrators took charge of the London business and the US holding company filed for bankruptcy. Ma...Read more