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Wednesday, December 12, 2018

General News




Hedge fund inflows plunge 75%
Jul 21/08
New Page 1 Net flows into hedge funds totaled $29 billion in the first six months of 2008, 75% less than the $118 billion in inflows during the first half of last year, according to Hedge Fund Research. Net i...Read more



Hedge funds fuel growth of equity trading commissions
Jul 18/08
New Page 1 Hedge funds continue to play a big role in driving the growth of U.S. equity trading commissions, according to new research from Greenwich Associates. The commissions paid by the typical U.S. ins...Read more



Hedge Funds Surpass Mutual Funds In Equity Trading Volume
Jul 18/08
New Page 1 An equity investors study by Greenwich Associates showed trading volume generated by hedge funds surpassed mutual funds last year and now ranks second only to traditional asset-management shops. Th...Read more



Shorting 'makes billions' for groups
Jul 18/08
New Page 1 Conservative fund management firms and custody banks are making billions of dollars from short-selling by lending stocks to facilitate such trades in exchange for lucrative fees.Even as ...Read more



Behind the hedge fund news
Jul 18/08
New Page 1 As equity markets sag under the weight of bad economic news and the continuing problems of the global financial industry, short sellers are having a field day. Short bias funds shot the ...Read more



Courts Rule Stronach Didn't Oppress Greenlight
Jul 18/08
New Page 1 An Ontario-based real estate development company has defeated claims brought in Canada's courts by the hedge fund Greenlight Capital to the effect that the development company's founder, Frank Stron...Read more



AUM clouded by double counting and leverage
Jul 18/08
New Page 1 “Unless you’re a manager’s auditor, it’s hard to know what assets under management are because managers take license,” says Richard Klitzberg, founder and president of Klitzberg Associates, a third ...Read more



Govt proposals on offshore funds fail to reassure industry, says Aima
Jul 17/08
Aima supports HM Treasury’s proposals to simplify the offshore funds regime and provide greater certainty to UK investors and funds.However, the organisation believes that the proposed changes do not reduce the administrative comp...Read more



Big Apple Biggest Home To Hedge Funds
Jul 17/08
Global hedge fund assets under management increased 30% in 2007 to a record $2.25 trillion, according to a new International Financial Services report.Most of this growth was in the first three quarters, as market turbulence in th...Read more



Hedge fund manager offers plan for Fannie, Freddie
Jul 16/08
(New throughout with comments from Ackman)By Svea Herbst-Bayliss and Herbert LashBOSTON/NEW YORK, July 15 (Reuters) - Hedge fund manager William Ackman laid out a plan on Tuesday to restructure mortgage finance companies Fannie Ma...Read more



Morningstar, Inc. Reports Second-Quarter 2008 Hedge Fund Performance and Asset Flows
Jul 16/08
Morningstar, a leading provider of independent investment research, today reported a summary of hedge fund performance for the second quarter of 2008. June marked a bad end to a good quarter. The Morningstar 1000 Hedge Fund Index ...Read more



SEC Subpoenas 50-Plus Hedge-Fund Advisers: Report
Jul 16/08
 WASHINGTON (Reuters)—The Securities and Exchange Commission has sent subpoenas to more than 50 hedge-fund advisers as it investigates whether individuals spread false rumors to manipulate shares in two Wall Street firms, accordin...Read more



Soros Goes Contrarian
Jul 15/08
With Indian stocks going South in recent weeks, billionaire global investor George Soros has turned contrarian on the market, the Economic Times of India reports.His hedge fund Quantum, which was reported to have posted earnings o...Read more



Hedge funds provide shelter in most severe markets in years
Jul 15/08
HFN Hedge Fund Aggregate Average -0.61% in June, -0.02% YTD:From HedgeFund.net: Early estimates show the HFN Hedge Fund Aggregate Average, an equal weighted benchmark of all single manager hedge funds and CTA/managed futures produ...Read more



Credit Suisse Hires Callan From Lehman to Head Hedge-Fund Unit
Jul 15/08
New Page 1 Credit Suisse Group Inc. hired Erin Callan, the former chief financial officer of Lehman Brothers Holdings Inc., as head of its global hedge fund unit. Callan, whose appointment is effective Sept. ...Read more



HFs Suffer Worst First Half Since 1990
Jul 14/08
Hedge funds got off to their worst start in nearly two decades in 2008, the Independent reports. The exception was Man Group, the giant U.K. alternative asset manager, which posted solid results.As the markets have weakened, hedge...Read more



Hedge Fund Risks: Measurement vs. Management
Jul 14/08
The other day I was telling a colleague that my lawn has become brown. His response was that the color of my grass did not matter as long as the neighbors 'grass on either side of me was uglier.While this model may work for lawn s...Read more



Ernst & Young Wins Hedge Fund Case
Jul 14/08
Ernst & Young won a decision involving a defunct hedge fund after its liquidators sued the firm's Cayman Islands unit, accusing it of performing a deficient audit and failing to detect the investment managers' fraudulent valua...Read more



Bonus fears keep divorce lawyers busy
Jul 11/08
New Page 1 It is perhaps the most alarming sign of the credit crunch yet.The fall - actual or expected - in bonuses in London's financial community, the City, is apparently starting to have drastic kno...Read more



Prentice, Toscafund Hedge Funds Plummeted in June, WSJ Reports
Jul 11/08
New Page 1 Two big hedge funds, Prentice Capital Management LP and Toscafund Asset Management LLP, fell sharply in June, the Wall Street Journal reported. Prentice, a New York City-based firm started in 2005 w...Read more



Japanese Pension’s Hedge Fund, Private Equity Investments Soar
Jul 11/08
New Page 1 A Japanese pension fund has increased its hedge fund investments sixfold in the past year, and plans to increase it even further. Japan’s Pension Fund Association began investing in hedge funds in th...Read more



Hedge fund puts freeze on withdrawals
Jul 11/08
New Page 1 Investors in Sandelman Partners LP’s $3.2 billion multistrategy hedge fund will not be able to make withdrawals due to a restructuring of the fund, The Wall Street Journal reported.OAS_RICH("Mi...Read more



Judge Rules Accountants Not Liable In Hedge Fund Collapse
Jul 11/08
New Page 1 Auditors are not liable for negligence where hedge fund managers exercise “nearly unfettered control” over a fund’s (fraudulent) activities, a New York judge has ruled. New York Supreme Court Justi...Read more



Clarium Returns Climb
Jul 11/08
New Page 1 Everything Silicon Valley venture capitalist Peter Thiel touches seems to turn to gold. First there was Paypal. Then Facebook. Now add Thiel's latest venture to the list: hedge fund Clarium Capita...Read more



Man Group assets jump to $79.5bln on sales, gains
Jul 10/08
From Dow Jones / WSJ: Man Group PLC (EMG.LN) Thursday said its assets rose 6.6% to $79.5 billion in its fiscal first quarter, as the world's largest manager of hedge-fund assets continued to attract net new money and its main fund...Read more



Linedata Services Forms Strategic Partnership with Altaira
Jul 10/08
Integrating Advanced Risk Analytics into Its Product Suite:Linedata Services (Bloomberg: LIN.FP), the leading provider of investment management software solutions, today announced an exclusive strategic partnership with Altaira LL...Read more



Touradji Hedge Fund Fell 9.4% in June as Commodities Rallied
Jul 10/08
New Page 1 Paul Touradji, the commodities trader who warned the market may collapse, posted a 9.4 percent loss in his main hedge fund last month as energy, food and metals prices rallied, said two investors ...Read more



Hedge funds post worst first half since records
Jul 10/08
New Page 1 <!-- div#related-article-links p a { color:#06c; } --> The $2 trillion industry put in its worst performance during the first half of the year since most credible records be...Read more



AMF might appeal reduced sentence for Norbourg founder
Jul 10/08
Sentence against Lacroix trimmed to 8 1/2 years.The Autorité des marchés financiers says it might appeal a judge’s decision to reduce the sentence handed down to the founder of defunct fund firm Norbourg.The AMF reports that Québe...Read more



Hedge Funds Fell 0.75%, Worst First-Half Performance
Jul 09/08
New Page 1 Hedge funds turned in their worst first-half performance in almost two decades because of the credit crunch and the onset of a bear market in stocks. Hedge funds declined by an average 0.7 percent ...Read more



HFs Increase Cash, Reduce Leverage
Jul 09/08
Hedge fund managers worldwide faced last year's difficult market conditions by lowering their leverage and converting a significant share of their assets into cash, FINalternatives reports.According to a new study by Greenwich Ass...Read more



Bigger May Be Better As Minor HFs Quit
Jul 09/08
Bigger may be better for hedge funds at a time the $2 trillion (1 trillion pound) industry's smaller players face tough choices of either merging or being forced out of business, reports Reuters.In the first six months of 2008, mo...Read more



Ex-Hedge Fund Manager Lay Gets 12 Years
Jul 09/08
Mark Lay, the Pittsburgh hedge fund manager convicted of fraud in a scandal that cost an Ohio workers’ compensation fund $216 million, has been sentenced to a dozen years in prison.After a marathon 10-hour, two-day sentencing hear...Read more



Hedge Fund Hotel Announces 1st Annual Hedge Fund Awards
Jul 09/08
As Toronto’s only hedge fund hotel celebrates its second birthday, the founders have announced that they have achieved 90% occupancy and that they are breaking new ground again with the inaugural Canadian Hedge Fund Awards this Fa...Read more



Chartered Alternative Investment Analyst Association certifies 550 new members
Jul 09/08
The Chartered Alternative Investment Analyst Association (CAIAA) today welcomed the Class of March 2008, a group of 550 new members who received the CAIA designation during the most recent examination period. Out of 800 individual...Read more



Northern Trust Gives FOFs Daily Transparency
Jul 09/08
 CHICAGO (HedgeWorld.com)—Funds of funds rarely enjoy daily transparency, but Northern Trust Corp., an investment bank and a hedge fund administrator, is about to change that. Last week, the Chicago bank announced that one of its ...Read more



Zarlink CEO vs. hedge fund fight heats up
Jul 09/08
Zarlink Semiconductor has confirmed its guidance for the fiscal 2009 first quarter, moving swiftly to deflect criticisms about its financial performance as the IC vendor tries to swing shareholders into its corner in a fractious f...Read more



RBC Capital Hires ex-Bear MD
Jul 09/08
RBC Capital Markets appointed a former Bear Stearns managing director as head of US leveraged finance, following the creation of a European leveraged finance business earlier this year.Jim Wolfe will be based in the New York branc...Read more



Microsofts renewed interest in Yahoo! will alert hedge funds
Jul 09/08
Hedge funds will be drooling at the latest news on Yahoo! and Microsoft. Microsoft has declared that it is interested in reopening talks to buy all or part of Yahoo! - if a new board is appointed first.This announcement, just abou...Read more



Amaranths Hunter Not Ashamed, Calls Charges Ridiculous
Jul 09/08
Almost two years after his natural gas trades cost Amaranth Advisors’ clients more than $6 billion and sent the hedge fund into a death spiral, Brian Hunter is speaking out on the ordeal. The man vilified by investors, regulators ...Read more



Quebec regulator seeks cash from people in Norbourg case
Jul 09/08
The Autorité des marchés financiers says it is seeking to recover almost $32 million from various people and firms involved with the sales of Norbourg funds.The AMF has launched a suit for $31,804,132.21 against the principal part...Read more



Hedge Funds As Breakers, Not Makers, Of News
Jul 08/08
NEW YORK -(Dow Jones)- Hedge funds hate to see their names in the headlines, but lately, they've been the ones breaking the news about companies they invest in.Daniel Loeb's Third Point LLC disclosed in a Monday regulatory filing ...Read more



More on Goldmans Toronto hedge-fund office
Jul 08/08
Friday, the Ontario government put out a release announcing that the government is "thrilled' to welcome to Toronto a new arm of Goldman Sachs Administration Services, the part of Goldman Sachs Group Inc. that helps hedge fun...Read more



Citi grows hedge fund outsourcing business
Jul 08/08
A raft of recent mandate wins has brought the total number of hedge and 130/30 fund managers using Citi's OpenPrime front-to-back office operating platform for alternative managers up to 20, the bank said today.The recent mandate ...Read more



Hedge Fund Manager To Be Sentenced In Ohio Pension Case
Jul 08/08
Hedge fund manager Mark Lay will learn his fate tomorrow, when a federal judge is set to sentence him for losing $216 million for an Ohio pension.Lay, the founder and president of Pittsburgh-based MDL Capital Management, faces as ...Read more



New Hedge Fund Launches total Record $19.5 Billion in First Half 2008
Jul 08/08
New York, July 8, 2008 – The Absolute Return New Funds Survey, published in the July/August issue of Absolute Return magazine, shows that new hedge fund launches this year in the Americas totaled $19.5 billion, with the top five f...Read more



Sir John Templeton passes away
Jul 08/08
Sir John Templeton, a legend in the Canadian investment industry, has passed away. Templeton, who introduced global equity investing to Canadians with his Templeton Growth Fund, died in hospital in the Bahamas Tuesday morning. He ...Read more



Mom brokered hedge fund fugitives surrender
Jul 07/08
Samuel Israel III surrendered to police Thursday morning, nearly a month after he faked his suicide to avoid a 20-year jail term.Peter Coe, a dispatcher with the Southwick police, confirmed the arrest of the former Bayou Group exe...Read more



Hedge Fund Code to Catch Willing and Unwilling
Jul 07/08
 LONDON (Reuters)—Many of Europe's hedge funds will sign up to a voluntary code of standards to appease institutional investors and avoid punitive regulation, but even those that don't will be unable to ignore it. The standards on...Read more



Goldman Sachs Opens Toronto Hedge Fund Office
Jul 07/08
Goldman Sachs Group, Inc. has opened a new hedge fund administration office in Toronto, the Ontario government announced Friday.The newest Goldman Sachs Administration Services office expands the fund accounting and investor servi...Read more

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