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Monday, December 10, 2018

General News




Sprott debuts with performance pressures
May 15/08
Thursday is a big day for IPOs on the TSX, and we're not talking about the public market debut of PC Gold. Sprott Asset Management starts trading in what qualifies as the biggest initial public offering seen to date this year. The...Read more



Help Wanted: Hedge Fund Managers
May 15/08
Greg Zuckerman has this report on an outfit that recruits and raises capital for fledgling hedge-fund managers.Money these days is flowing to the largest managers in the hedge-fund world, while the rest scrape to get by, often ign...Read more



Prime Broker Revenues To Soar
May 15/08
Prime brokers will generate over $11 billion in revenues from hedge funds in 2008, a 15% increase over 2006, according to a TABB Group study.The group has also estimated that revenue from financing, stock loans and other prime ser...Read more



Sprott Inc. closes IPO
May 15/08
Offering raises $200 million.Sprott Inc. has completed its previously announced initial public offering by way of a secondary offering of common shares. The company’s common shares are listed on the Toronto Stock Exchange under th...Read more



Rangel tries to tax hedge pay - again
May 14/08
WASHINGTON — Proposed legislation hammering the deferred compensation of many hedge fund managers is expected to be resurrected on Capitol Hill as soon as this week — and this time around some industry lobbyists are betting the me...Read more



Hedge fund places faith in God
May 14/08
The credit crunch, which is still in full flow, has left many seasoned investors praying for a miracle. One of these investors, however, has decided to put money directly into the source of miracles - God.If ever one needed a clar...Read more



Hedge funds can play hero role in market restoration
May 14/08
Hedge funds' capability of setting on positions on pricing assets will help breathe life back into sector:Hedge funds can play an important role in helping markets to function properly again during times of financial turbulence, a...Read more



Mirabaud predicts increased foreign investment in Gulf hedge funds
May 14/08
Gilles Rollet, chief executive of Mirabaud in the Middle East, has predicted increased foreign investment being made in regionally based structured products and funds in the near future.Speaking at this year’s Structured Products ...Read more



Hedge fund investors have 20/20 hindsight
May 14/08
Deutsche Bank’s exhaustive 2008 Alternative Investment survey would have electrified us if its predictions had been published a year ago. As it is, hedge fund investors aren't showing great foresight for the coming year. When US v...Read more



Calpers pulls over $6bn from asset managers
May 13/08
New Page 1 Asset managers have lost out on more than $6bn (€3.9bn)'s worth of mandates at the California Public Employees' Retirement System, after the US' largest and most high-profile pension scheme move...Read more



Safe funds that have lost money
May 13/08
Investors in funds billed as “safe havens” have racked up losses of as much as 10% during the credit crunch. Among the worst hit are investors in Threadneedle’s £450m Money Securities fund, a “cash” fund that over the past year ha...Read more



Riskdata study shows factor-based models help investors
May 13/08
Research Update: Riskdata study shows factor-based models help investors detect `time bombs` by discriminating between lucky and talented hedge fund managers:A Riskdata study of hedge fund performance during the recent credit cris...Read more



ARK Charity dinner that draws elite of hedge-fund world lowers fund-raising target
May 13/08
From WSJ: London's hedge-fund elite are awaiting one of the biggest social events of the year: the ARK charity dinner. Given the difficult start to the year for the markets, organizers aren't expecting to match the £26.6 million (...Read more



Hedge fund insurers profit from credit crunch
May 12/08
Specialist firm says potential directors are refusing to join hedge fund Boards unless sufficient cover is in place.LONDON (Thomson IM) - Insurance may not be the top priority for hedge fund managers but investor lawsuits over fun...Read more



Rise of hedge funds causes concern
May 12/08
Hedge funds are increasingly in the public eye. They are being called upon by regulators and lawmakers to explain their workings amid the widening global credit crisis triggered last summer by the unwinding of collateralised debt ...Read more



Prime brokers to score more order flow from hedge funds
May 12/08
Prime brokerages are expected to generate $11bn (€7.1bn) in revenues as a new report points to a deeper link between hedge funds' brokerage and cash equity needs.Prime brokerage revenues are expected to increase 15% over 2006, and...Read more



Amaranth Founder Maounis to Start New Multistrategy Hedge Fund
May 12/08
May 9 (Bloomberg) -- Nicholas Maounis, the hedge-fund manager whose Amaranth Advisors LLC collapsed under a record $6.6 billion loss in 2006, is seeking to start a new firm, according to a note sent today to his former investors. ...Read more



Sprott Hedge Fund May Rise After Raising C$200 Million in IPO
May 09/08
Sprott Inc. may rise after the mining and energy hedge fund run by investor Eric Sprott raised C$200 million ($197 million) in the biggest Canadian initial public offering in five months. The 20 million shares were sold...Read more



Lampert, Wood Reveal Failings of `Concentrated' Hedge-Fund Bets
May 09/08
New Page 1 When Jon Wood opened his Monaco-based hedge fund, the former UBS AG trader told investors he'd beat the market by buying stakes in no more than 40 companies -- the same way he made $2.4 billion in...Read more



Lyxor launches investable hedge fund indices
May 09/08
New Page 1 Lyxor has launched Lyxor Hedge Fund Indices (LYXR), a range of 16 fully investable indices. Based on Lyxor’s hedge funds platform, the range is made up of three main groups.   Global ind...Read more



Eyeing alternatives
May 09/08
New Page 1 When the times get tough, some people hedge their bets. Others buy hedge funds. Alternative investment firms have become attractive to buyers looking to navigate the challenges thrown their way by ...Read more



Sprotts IPO Draws Attention, Some Skepticism
May 09/08
Sprott Asset Management Inc. seemed poised to price its initial public offering on Thursday [May 8], after three weeks of buildup, and in the face of some skepticism about a key technological claim of a company important to the Sp...Read more



How to run a hedge fund…poorly
May 09/08
New Page 1 There were reports out today that Drake Management LLC (a hedge fund) is shutting down its largest hedge fund and may plan to start another. This is a classic example of what exactly is wrong with h...Read more



Investors stand by 130/30 funds
May 09/08
New Page 1 The credit crisis has taken its toll on the performance of 130/30 funds—which have 130% exposure to long positions and 30% to shorts—but so far investors appear to be giving them the benefit of th...Read more



2008 annual 20 Rising Stars of Hedge Funds
May 08/08
 From Institutional Investor News: 1. Chris Addy, President and CEO, Castle Hall Alternatives 2. Jennifer Ancker, Executive Director, Graham Capital Management3. Clemente Cappello, Found and CIO, The Sturgeon Investments4. Scott D...Read more



Led by Hedge Funds, Alternative Investment Firms Represent 40% of YTD M&A Activity in 2008
May 08/08
Led by Hedge Funds, Alternative Investment Firms Represent 40% of YTD M&A Activity in 2008, According to Jefferies Putnam Lovell:NEW YORK--(BUSINESS WIRE)--Sales of alternative investment firms account for a record 40% of deal...Read more



300 investors don`t know if they will see the money they gave to alleged fraudster Matthew La Madrid
May 08/08
If you do one thing today, avoid obscure "hedge funds" run by a friend of a friend.Around 300 private investors are this week wondering if they will ever get back the $31 million that they invested between 2004 and 2007 ...Read more



Lyxor launches investable hedge fund indices
May 08/08
Lyxor has created 16 indices tracking hedge funds available on its hedge fund platform. The group said the fully investable indices offer straightforward access to the global hedge fund industry. Products on offer include 14 Strat...Read more



Fund managers rebound in April after tough March
May 08/08
SAN FRANCISCO (MarketWatch) -- Hedge funds generated gains in April, rebounding from a tough March as equity markets climbed, according to reports released on Wednesday by firms that track performance in the $2 trillion industry.M...Read more



AIMA Chairman rebuts Sunderland comments on hedge funds
May 08/08
Christopher Fawcett, Chairman of AIMA, has robustly rebutted the misleading statements on hedge funds made recently by CBI president John Sunderland.The comments by Sunderland, who is also chairman of Cadbury Schweppes, were made ...Read more



Hedge funds seek the right to advertise
May 08/08
When it comes to investing, hedge funds can do almost anything. They just cannot talk about it. In return for the right to rely on trading techniques that are largely off limits at mutual funds, hedge funds have for decades been p...Read more



Wealthy Investors Favor Private Equity
May 08/08
Well-known high net worth individuals have benefited from putting their surpluses into private equity/venture capital funds early, reports Sify.com.Wipro chairman Azim Premji is said to have a personal fortune of over $400 million...Read more



Hedge fund investors increase focus on risk management, says Deutsche survey
May 07/08
Risk management has joined the performance, philosophy and pedigree of hedge fund managers among the key criteria for investors in manager selection, according to the sixth annual Alternative Investment Survey undertaken by Deutsc...Read more



Hedge funds offer flexibility in uncertain markets
May 07/08
Hedge funds have, to put it mildly, a mixed reputation. They were famously dubbed 'locusts' by one-time German labour minister Franz Müntefering after activist funds blocked Deutsche Börse's bid for the London Stock Exchange and f...Read more



Conditions ripe for hedge fund seed investors
May 07/08
Investors able to provide seed capital for hedge funds are set to enjoy the most favorable conditions in years due to an abundance of talented start-ups and a lack of competing capital.At a time when volatile markets, poor returns...Read more



RBC Dexia appoints Susan Pike as Global Head, Market Products & Services
May 07/08
RBC Dexia Investor Services has appointed Susan Pike as Global Head, Market Products & Services. In this newly-created role, Ms. Pike has global accountability for the development, management and service delivery for RBC Dexia...Read more



Why Investment Banks Should Not Buy Hedge Funds
May 07/08
Last week Citigroup (C) told us, on Page 17 of their 10-Q, about the fate of their $800mn purchase of Old Lane Partners. Vikram Pandit, now the CEO of Citigroup, was the founder of Old Lane. Citigroup may have gotten Pandit and hi...Read more



Lampert, Ackman Face Off Over Sears
May 07/08
Sears head Edward Lampert has failed to impress hedge fund kingpin William Ackman. The Sears annual meeting marked a showdown between Lampert and Ackman. Ackman is head of Pershing Square Capital Management, the fourth-largest sha...Read more



Japan's Mitsubishi to enter U.S. asset management business
May 07/08
New Page 1 Japanese Mitsubishi Corp. plans to enter the asset management business in the U.S. by setting up an investment fund with a hedge fund manager in which the trading house has agreed to take a stake,...Read more



Equity Hedge, Relative Value Pace Hedge Fund Surge In April
May 07/08
New Page 1 Most investable hedge funds posted gains last month, according to new figures from Hedge Fund Research. Overall, investable funds returned 1.2% in April, cutting their year-to-date loss to 1.62%....Read more



Hedge-fund managers stockpile cash – and so do hedge fund investors
May 06/08
Deutsche Bank Survey:From the WSJ: In times of market turmoil and economic uncertainty, nothing comforts a hedge-fund investor like good, old-fashioned cash. It isn't a secret that hedge-fund managers are sitting on a big stash wa...Read more



Citi Hedge Fund Investors Want Out
May 06/08
Almost all of the outside investors in Citi's Old Lane Partners, the hedge fund firm it bought last year, gave notice that they want out, the bank said in a regulatory filing. Last year, Citi paid $800 million for multi-strategy O...Read more



Funds may swoop as Microsoft drops Yahoo bid
May 06/08
Over the weekend, software giant Microsoft dropped its three-month-old bid to buy internet firm Yahoo! because the two sides cannot agree on an acceptable price. But Microsoft's withdrawal is now prompting Yahoo!'s shareholders - ...Read more



Hedge Fund Horse Wins Kentucky Derby
May 06/08
How’s this for marketing a racehorse hedge fund: We just won the Kentucky Derby.International Equine Acquisitions Holdings, currently in the process of transforming itself into a $100 million hedge fund that will buy and breed hor...Read more



Sprotts hot, but that price could burn
May 06/08
There will be fistfights and bloody noses this week on Bay Street over the Sprott IPO. To buy shares? Well, yes. But also among short sellers who will be scrambling to borrow them.Nobody knows the value of a hedge fund like a hedg...Read more



Sprott Hedge Fund IPO May Signal Top of Canada Commodity Rally
May 05/08
New Page 1 Sprott Asset Management Inc.'s initial public offering this week will make a billionaire of the hedge fund company's founder, spurring speculation Canada's decade-old commodities boom is ending, inv...Read more



Hedge funds driving up market volatility but thats OK, traders say
May 05/08
Group urges SEC to end best price rule, tackle market data.Hedge funds, powered by an increasing amount of capital that pension funds and other institutions pour into them, are playing a major role in the unusually high market vol...Read more



DundeeWealth grabs 60% of Aurion
May 05/08
DundeeWealth Inc. said Monday it has struck a deal to buy 60 per cent of Toronto-based institutional money manager Aurion Capital Management Inc.Financial terms of the cash and share deal were not disclosed, but a portion of the p...Read more



TSX Group Considers Takeovers After Buying Montreal
May 02/08
May 1 (Bloomberg) -- TSX Group Inc., owner of the Toronto Stock Exchange, is looking for more acquisitions in North America after completing its purchase of the Montreal Exchange Inc. derivatives market, interim Co-Chief Executive...Read more



HFN highlights spike in attrition rate seen in hedge fund database
May 02/08
Hedge fund data provider Hedgefund.net has reported a spike in the number of funds removed from its live database last month as a result of liquidation, failure to report performance or the request of the manager, with small funds...Read more

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