General News

	Forbes second annual look at Wall Streets highest HF and PE earners	Apr 17/08
	Crumbling home prices and $100 oil helped Wall Street's Highest Earners pull in $19 billion last year Problems paying the mortgage, filling the gas tank and feeding the family have eroded living standards for millions of Americans...Read more
	Pension funds attracted to long/short strategies	Apr 17/08
	Pension funds are rapidly and increasingly adopting long-short equity strategies. This is because of the value this strategy provides by differentiating market exposure (beta) and manager skill (alpha), according to the latest Sta...Read more
	Fund Managers Confident about Industry	Apr 17/08
	NEW YORK (HedgeWorld.com)—The economy may be in a recession, but the hedge fund industry is moving ahead like the Energizer Bunny—at least, that's the general feeling of a group of fund managers polled in study from accounting fir...Read more
	Dispelling the myths surrounding absolute return funds	Apr 17/08
	bsolute return funds claim they can generate attractive positive returns in any environment and protect capital during market drawdowns. To do so they employ sophisticated investment strategies and can go long and short. Their ret...Read more
	A Paradigm Shift For Hedge Fund Stars	Apr 17/08
	During the last year, a new standard has emerged for hedge fund start-ups. Prior to 2006, when market conditions were ripe, it was common for superior investors to leave their well-known, established funds, raise $100 million or m...Read more
	Hedge Profit Shows Tax Flaw	Apr 17/08
	In 2007, Wall Street nickel-and-dimed its way to $2.8 billion in profit, it's lowest since 1994. Big Apple hedge funds, meanwhile, made a killing by any standard, hauling in up to $39 billion. But while all that hype about hedge f...Read more
	Hedge Funds eye student loan market	Apr 17/08
	Outside the Senate Banking Committee room Tuesday morning, the financial services lobbyists began lining up early for a hearing on an issue that rarely lures them out of their posh K Street offices: student loans.But now, some fin...Read more
	Soros Says Commodity `Bubble' Still in `Growth Phase'	Apr 17/08
	New Page 1 Billionaire George Soros said the boom in commodities is still in a ``growth phase'' after prices for oil, wheat and gold rose to records. ``You have a generalized commodity bubble due to commodit...Read more
	Paulsons $3.7 Billion Top Hedge Fund Pay, Alpha Says	Apr 16/08
	John Paulson, founder of New York- based Paulson & Co., was paid an estimated $3.7 billion last year, the most in the hedge fund industry, according to Institutional Investor's Alpha Magazine.Paulson, 52, surpassed George Soro...Read more
	CIBC Man IP 220 Deposit Notes, Series 2 Closes at CAD 32.5 Million	Apr 16/08
	Man Investments Canada Corp. (‘Man Canada’), a division of leading global hedge funds provider Man Investments, with the Canadian Imperial Bank of Commerce (‘CIBC’), is pleased to announce that it has raised CAD 32.5 million in th...Read more
	Volatility: A Blessing and a Curse for HFs	Apr 16/08
	NEW YORK (HedgeWorld.com)—The spike in market volatility since the credit crisis hit the United States last summer is bad news for many hedge funds caught in the market's ups and downs. However, one type of hedge fund is likely to...Read more
	Credit Suisse/Tremont Hedge Fund Index down 2.11% in March	Apr 16/08
	Credit Suisse/Tremont Hedge Fund Index down 2.11% in March.The Credit Suisse/Tremont Hedge Fund Index was down 2.11% in March, according to Oliver Schupp, President of Credit Suisse Index Co., Inc. The Index is down 2.01% year-to-...Read more
	MFA and AIMA welcome reports by Presidents Working Group	Apr 16/08
	MFA and AIMA welcome reports by President`s Working Group on best practices for the hedge fund industryThe Alternative Investment Management Association (AIMA) and Managed Funds Association (MFA) announced yesterday that they welc...Read more
	GLOBAL HEDGE FUND ASSETS RISE 27% TO $2.6 TRILLION	Apr 16/08
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	Hedge fund compensation up 50 percent in 2007	Apr 15/08
	NEW YORK, April 14 (Reuters) - Hedge fund professionals saw their pay climb 50 percent in 2007 despite the pain from the credit crunch and the increase in market volatility, a report from Alpha Magazine showed on Monday.The survey...Read more
	US President Financial Working Group To Release Hedge Fund Best Practices	Apr 15/08
	WASHINGTON -(Dow Jones)- Two private sector committees created by the President's Working Group will release separate sets of best practices for hedge fund investors and asset managers Tuesday.In the media event Tuesday morning, T...Read more
	Hedge fund standards drive investment	Apr 15/08
	A KPMG survey has found investors strongly in favour of proposed industry standards. When making investment allocations, eight out of ten pension funds said they would favour a hedge fund manager who had complied with the Hedge F...Read more
	RBC Forms Global Prime Services Group	Apr 15/08
	TORONTO (HedgeWorld.com)—RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, that country's biggest bank, has revamped its prime brokerage division to provide asset managers with a more coordinat...Read more
	RBC Hedge 250 Index down -2.51% in March, -3.43% YTD	Apr 14/08
	RBC Capital Markets on Friday reported that for the month of March 2008 the RBC Hedge 250 Index had a net return of -2.51 per cent. This brings the year-to-date return of the Index to -3.43 per cent. These returns are estimated an...Read more
	Whats next for hedge funds?	Apr 14/08
	Michael Butler is chairman and CEO of investment bank Cascadia Capital. He is writing a book titled Financing the Future and the Next Wave of 21st Century Innovation, and is serializing it here at peHUB. What follows is an excerpt...Read more
	Credit woes highlight new demands on service providers	Apr 14/08
	Firms that provide services to hedge funds are changing the way they do business, and the reason is institutional investors. As these investors allocate increasingly large sums to hedge funds, they view the quality of service prov...Read more
	Brian Hunter Helps Deliver 49% Return for Hedge Fund	Apr 14/08
	April 11 (Bloomberg) -- A commodity hedge fund advised by Brian Hunter, the energy trader whose bad bets triggered $6.6 billion of losses at Amaranth Advisors LLC in 2006, returned 49 percent in the first quarter, according to two...Read more
	Prying Open Hedge Funds Exit Door	Apr 14/08
	Prominent investor Joseph Umbach is suing hedge fund Carrington Investment and its manager for putting a freeze on redemptions.Lately it has become quite common for hedge fund managers to slam shut the exit doors—tying up their in...Read more
	Bayous Israel Gets 20-Year Term for Hedge-Fund Fraud	Apr 14/08
	Samuel Israel, a co-founder of bankrupt hedge-fund company Bayou Group LLC, was sentenced to 20 years in prison after pleading guilty to defrauding investors of more than $400 million.``I lied to you and I cheated you and I cannot...Read more
	Alternative Beta Shop Offers Hedging Strat For FoFs	Apr 11/08
	Stonebrook Capital Management has launched a proprietary hedging strategy for fund of hedge funds managers to help them keep their heads above water in volatile markets. Developed by Jerome Abernathy, chief investment officer...Read more
	Sprott Confirms C$1.5 Billion IPO	Apr 11/08
	Sprott Asset Management Inc., a leading Canadian hedge fund and mutual fund operator with $6.9 billion in assets under management, has filed a preliminary prospectus for an initial public offering of shares. A report in the Glo...Read more
	More Hedge Funds Likely to Collapse: BofA	Apr 11/08
	There will be more hedge fund collapses this year as many managers struggle to borrow the new money they need to trade with and face investors disappointed by recent losses, a top industry executive said. "The level of blo...Read more
	Barclay Hedge Fund Index down 2.40% in March and 4.42% for first quarter	Apr 11/08
	Hedge funds lost on average 2.40 per cent in March, according to the Barclay Hedge Fund Index compiled by Fairfield, Iowa-based BarclayHedge, leaving the index down 4.42 per cent for the first three months of the year. Separate...Read more
	Morningstar Launches Morningstar DirectSM Alternative Investment Edition	Apr 10/08
	CHICAGO, April 9, 2008—Morningstar, Inc., (NASDAQ: MORN), a leading provider of independent investment research, today announced that it has launched Morningstar DirectSM Alternative Investment Edition, a global, multi-currency in...Read more
	Blame the Banks	Apr 10/08
	Summary: Mallaby's update to his January/February 2007 essay "Hands Off Hedge Funds." Sebastian Mallaby directs the Maurice R. Greenberg Center for Geoeconomic Studies at the Council on Foreign Relations. He is writing ...Read more
	LIM Pursues the Science of History	Apr 10/08
	CHICAGO (HedgeWorld.com)—There is a day, usually in April, when the price of natural gas contracts rises more than 3%, heating oil rises more than 1% and unleaded gasoline rises more than 1%. On this day, if a trader buys crude oi...Read more
	HSBC Lures Hedge Fund Clients Away From Prime Brokers	Apr 10/08
	April 10 (Bloomberg) -- HSBC Holdings Plc, Europe's biggest bank by market value, is attracting hedge fund business because of concerns that prime brokers are under threat from the credit market collapse, said Tim Howell, the bank...Read more
	Exposing Russias corporate corruption	Apr 10/08
	Bill Browder claims office raids are part of criminal elements in law agencies. Philip Aldrick reportsOne of Russia's largest foreign investors and a leading opponent of corruption has broken cover to take on criminal elements in ...Read more
	Hedge Funds Make it Hard to Say Goodbye	Apr 10/08
	If you thought getting into a hedge fund was tough, try getting out of one.With the markets sputtering, some high-profile hedge funds are rejecting withdrawal requests, with some telling investors that it could be years before the...Read more
	Hedge fund attempting to break up MDS	Apr 10/08
	OTTAWA - A New York hedge fund wants to break up MDS Inc., owner of MDS Nordion of Ottawa, in order to increase the price of the Toronto medical sciences company stock.Obrem Capital declared Wednesday in a U.S. regulatory filing t...Read more
	RBC forms global prime survives group	Apr 10/08
	RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, has formed RBC global prime services group to provide prime brokerage services and support to hedge fund, mutual fund and institutional asset m...Read more
	MAN hedge fund gets top rating	Apr 10/08
	Recently launched hedge fund MAN RMF Dynamic has been awarded a “highly recommended” rating by Zenith Investment Partners – the only product to achieve the standard in the ratings house’s hedge fund of fund scoreboard.The fund giv...Read more
	PGA Sponsor Provides New Hedge Fund Service	Apr 10/08
	Custodian bank Northern Trust has gone live with its first hedge fund middle office services client. The service provides automated trade matching, derivatives processing, reconciliation and connectivity to multiple prime brokers,...Read more
	Merrill Lynch to market alternative research	Apr 10/08
	Launches Merrill Open Minds with seven alternative research providers.Merrill Lynch today announced that it has launched a new service to distribute alternative research products and services as a complement to the firm’s own rese...Read more
	Sprott files IPO prospectus	Apr 10/08
	Fans of Sprott Asset Management have another way to invest with the company — ownership. A prospectus for Sprott Inc. was filed today with each of the provinces and territories in Canada for an initial public offering. The IPO wil...Read more
	Dynamics Sehgal wins North American hedge fund award	Apr 10/08
	The Dynamic Power Hedge Fund, managed by Rohit Sehgal, was named best event-driven hedge fund at the first North American Lipper Hedge Fund Awards on Wednesday evening.Lipper selected the Dynamic Power Hedge Fund ahead of 101 comp...Read more
	Dont blame hedge funds for credit crisis: AIMA	Apr 10/08
	Everyone looks for a scapegoat during times of crisis, and for many fed up with the credit crisis, hedge funds are to blame. The Alternative Investment Management Association, however, is taking issue with what it sees as "un...Read more
	MFA to fight new hedge fund regulations	Apr 09/08
	NEW YORK (Reuters) - The Managed Funds Association, the biggest U.S. hedge fund lobbying group, would fight any effort to impose new regulations on the $2 trillion industry, favoring a market-based risk mitigation approach, the MF...Read more
	Sprotts sound investment history sweetens offering	Apr 09/08
	As Michael Lee Chin has demonstrated over the years at AIC, it's better to own the fund company than the fund.AIC has made a bundle holding stakes in rival wealth managers and will have another place to invest, as Sprott Asset Man...Read more
	Back to the roots with a high-risk hedge fund	Apr 09/08
	Talk about a high-risk hedge fund and most people assume it is a tautology. This year’s sudden collapses of the $2bn flagship fund of London’s Peloton Partners and the $1bn New York-based Focus Capital, as well as a raft of smalle...Read more
	Hedge funds target of unreasonable criticism says Aima	Apr 09/08
	The Alternative Investment Management Association, the London-based international hedge fund industry association, says the sector is facing 'a renewed wave of unwarranted criticism at a time when many hedge fund managers are doin...Read more
	RBC expands prime brokerage business with Global Prime Services Group	Apr 09/08
	RBC Capital Markets has announced the creation of the RBC Global Prime Services Group to provide comprehensive support to hedge fund managers, mutual fund managers and institutional asset managers via a single platform. 'We rec...Read more
	Hedge funds come unstuck on truth-twisting	Apr 09/08
	Commentary by Matthew Lynn Has the hedge-fund industry been built on a series of lies? For the past decade, its explosive growth has been based on a simple claim: that skilled money managers, motivated by high performance fe...Read more
	Hedge Funds Lure Still Hot But Success Uncertain	Apr 09/08
	Wall Street bankers and traders, fearing possible layoffs, may strike out on their own and try to launch new hedge funds in the coming weeks, a top industry official said on Tuesday.However, many are expected to fail as investors ...Read more
	Hedge fund groups forge international alliance	Apr 09/08
	Two hedge fund industry associations in the US and Europe have forged an alliance as alternative asset managers move closer to adopting international self-regulation principles amid calls for greater transparency. The Managed F...Read more