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Monday, December 10, 2018

General News




The lifecycle of hedge funds, non-directional funds slow (down) faster
Feb 04/08
 From SeekingAlpha.com: Deephaven Capital Management, a $4 billion hedge fund, (last week) closed up shop on two of its merger-arb funds. The understandable reason: no one wants anything to do with mergers these days -- except for...Read more



Aima steering committee to publish educational guide for investors
Feb 04/08
The Alternative Investment Management Association has announced that its investor steering committee is to publish what has been billed as the world's first collaborative educational guide for hedge fund investors. Publication is ...Read more



PerTrac launches new application to `create, monitor and manage multi-manager portfolios
Feb 01/08
PerTrac Financial Solutions (www.pertrac.com) today announced the commercial release of its newest product, PerTrac Portfolio Manager, a unique software application designed to help funds of funds and institutional investors creat...Read more



$19 Million Settlement Reached in Hedge Fund Case
Feb 01/08
he court-appointed receivers for a defunct King of Prussia, Pa., hedge fund that allegedly defrauded its clients out of more than $200 million have struck a $19 million settlement with a Cayman Islands company that served as the f...Read more



Hedge and pension funds unite
Feb 01/08
GLOBAL - Pension plans and hedge fund managers have united to produce the first collaborative guide to investing in hedge funds.The Alternative Investment Management Association (AIMA) brought together representatives from some of...Read more



130/30 Fund Managers Face Stiff Competition, Many Need Infrastructure Upgrades
Feb 01/08
In the past few weeks, State Street, Legg Mason, TD Asset Management, Bear Stearns and other asset management firms have introduced new 130/30 funds; all told, about 140 of these funds exist today. But Colin Bugler, director of pr...Read more



Horizons drops Mondiale
Jan 31/08
Horizons Funds has appointed JovInvestment Management as portfolio manager of the Horizons Mondiale Fund, replacing Mondiale Asset Management, effective immediately.With the departure of Mondiale as manager, the fund is being rena...Read more



Deephaven Shuts Hedge Fund After Buyouts Dwindle
Jan 31/08
Deephaven Capital Management LLC is liquidating a hedge fund with $780 million in assets that tries to profit from mergers after U.S. takeovers dried up and returns were little changed last year. The firm froze redemptions from...Read more



Industry assets hit $1.9 trillion
Jan 31/08
Investors poured a record amount of capital into hedge funds last year, adding almost $200bn (€135bn) and helping the industry’s total assets increase to just under $1.9 trillion, according to data provider Hedge Fund Research. ...Read more



Pension funds lose $1.5 trillion in share slump
Jan 31/08
LONDON (Reuters) - The global share sell-off may have wiped up to $1.5 trillion (750 billion pounds) off the value of global institutional pension fund assets since the start of this year, consulting firm Watson Wyatt says. Wit...Read more



CIBC World Markets ramps up hedge fund coverage
Jan 30/08
CIBC World Markets moved this week to rebuild a hedge fund sales team that was hit hard by departures over the last month.Giorgia Anton is joining the institutional equity desk from the sales team at Raymond James. A reformed char...Read more



Bayou Ex CFO Marino Gets 20 Years for Hedge Fund Fraud
Jan 30/08
Jan. 29 (Bloomberg) -- Daniel Marino, the former finance chief of the bankrupt hedge-fund firm Bayou Group LLC, was sentenced to 20 years in prison for defrauding investors of more than $400 million.The judge cited the size and le...Read more



S&P launches alpha generation indices
Jan 30/08
STANDARD & POOR’S has launched a range of indices focusing on alpha generation. The S&P global dividend opportunities index and the S&P international dividend opportunities index are comprised of 100 tradable, exchange...Read more



Mondiale Asset Management to return US$500m investor capital
Jan 30/08
Losses drive Canada`s Mondiale Asset Management to return US$500m investor capital, `temporarily discontinue trading operations`:Mondiale Asset Management Ltd. has elected to temporarily discontinue trading operations and return a...Read more



Uncertainty Awaits New Fund Launches in Early '08
Jan 30/08
As Jan. 31 approaches, signaling the end of the most turbulent month in recent memory for many markets, hedge fund managers who opened for business in early 2008 may be asking themselves why on earth they picked this month to laun...Read more



HFR hedge fund database now available in PackHedge format
Jan 30/08
Geneva software company FinLab and Chicago-based Hedge Fund Research have formed an alliance to provide access to HFR's hedge fund database through FinLab's software for conducting investment research and analysis, PackHedge.The e...Read more



It’s A SPAC-tacular Time For HFs
Jan 30/08
Hedge funds are moving into a territory previously dominated by private equity firms: special purpose acquisition vehicles, or SPACs. Financial News reports that these so-called “blank check” vehicles are growing in popularity in ...Read more



Largest US pension fund SIO resigns
Jan 29/08
Christianna Wood, senior investment officer, global equity of US pension fund giant CalPERS, has jumped ship to take up the position of chief executive of hedge fund sponsor, Capital Z Asset Management.Wood will leave CalPERS in m...Read more



N.S. pension with big hedge fund exposure improves from summer results
Jan 29/08
HALIFAX - A Nova Scotia pension fund for 26,000 health workers is still falling short of its internal goals but has improved its results in the past four months since its performance was called into question during a summer market...Read more



Sprott snags pair of fund managers from AGF
Jan 29/08
Two award-winning mutual fund managers have left AGF Funds Inc. and gone over to competitor Sprott Asset Management Inc.Charles Oliver and Jamie Horvat, who managed or helped manage five top-performing funds with assets totalling ...Read more



Chinese-style hedge funds lure top managers
Jan 29/08
SHANGHAI, Jan 29 (Reuters) - After he resigned as chief investment officer of JPMorgan's China fund venture last August, Lu Jun was inundated with offers of senior posts at other asset management firms.But Lu, widely known in the ...Read more



Fund-of-fund products prove popular in 2007: IFIC
Jan 29/08
The Investment Funds Institute of Canada reports that conservative investment funds that invest in other funds were much more popular with Canadian investors than stand-alone funds last year.Fund-of-funds sales outnumbered sales i...Read more



Norbourg founder gets 12-year sentence
Jan 29/08
Former Norbourg CEO Vincent Lacroix has been sentenced to 12 years in prison and fined $255,000, a Montreal court ruled on Monday.Lacroix was found guilty of 51 fraud charges last December after being accused of siphoning $115 mil...Read more



Hedge fund renews assault on Compton
Jan 29/08
Compton Petroleum Corp. is under renewed assault from its largest shareholder, which is now dismissing the Calgary gas producer's latest business plan as “ill-conceived” and reiterating an earlier demand that it put itself up for ...Read more



Bonds Rise; Hedge Fund Rumor Circulates
Jan 28/08
NEW YORK (AP) — Treasury prices threw off early weakness and advanced Friday after a rumor that another hedge fund is in financial trouble circulated through trading rooms."There are a number of names of hedge funds being ban...Read more



Northern Trust Study Finds Significant Asset Allocation Differences Among Millionaire Generations
Jan 28/08
CHICAGO, Jan. 25 /PRNewswire-FirstCall/ -- Due to broader diversification in their investment portfolios and a willingness to own more alternative assets and newer, non-traditional investment products, younger millionaires may be ...Read more



RBC Hedge 250 Index returned 0.50 per cent in December
Jan 28/08
RBC Capital Markets has reported provisional figures indicating that the RBC Hedge 250 Index had a net return of 0.50 per cent in December, bringing the full-year return of the index to 8.27 per cent.The RBC Hedge 250 Index is an ...Read more



Saving Sears Doesn’t Look Easy Anymore
Jan 28/08
This article was reported by Gretchen Morgenson, Michael Barbaro and Geraldine Fabrikant and written by Ms. Morgenson. BY all accounts, Edward S. Lampert, the billionaire hedge fund manager whose investment savvy earned him renown...Read more



Mintz Fund Services LP sells fund services business to Commonwealth Fund Services L
Jan 28/08
Mintz Fund Services LP has agreed to sell its fund services business to Commonwealth Fund Services Ltd. with an expected closing date of January 31, 2008.  Mintz Fund Services LP is based in Toronto and provides onshore and offsho...Read more



Investment fraud on the rise in New Brunswick
Jan 27/08
NBSC launches public awareness campaign to educate New Brunswickers on how to avoid scam.The New Brunswick Securities Commission says that investment fraud is on the rise in the province, and it’s launching a public awareness camp...Read more



Crisis grips European hedge funds
Jan 27/08
A RAFT of European hedge funds have been forced to introduce emergency measures to protect their businesses from collapsing in the wake of the turmoil in financial markets.Up to 10 European hedge funds have suspended redemptions a...Read more



The rogue trader who cost SocGen €5bn
Jan 25/08
A lone rogue trader was on Thursday night being blamed for the biggest fraud in investment banking history after Société Générale, one of the pillars of French finance, revealed his actions had cost it €4.9bn (£3.6bn) and forced i...Read more



Man Investments says sell U.S. banks and long-term bonds
Jan 25/08
SINGAPORE (Reuters) - Selling both U.S. bank stocks and long-term Treasury bonds are likely to be profitable trades as world's largest economy faces a potential recession and rise in inflation, hedge fund manager Man Investments s...Read more



Fund managers struggle to dodge hazards
Jan 25/08
It is tough managing a long-only fund when markets are this erratic."Everything is turning in the blink of an eye. You can't trade in markets like this," says Alan Brown, chief investment officer at Schroders. "Deri...Read more



New Report Provides In-depth Analysis of the Energy Hedge Funds Market
Jan 25/08
"Energy Hedge Funds," a new report published by EnergyBusinessReports.com, analyzes all the aspects of this fast growing industry and examines what makes up trading of energy exchanges, and energy hedge funds. http://ene...Read more



Another Fed Rate Cut: Too Little, Too Late?
Jan 25/08
EDINBURGH, Scotland (HedgeWorld.com)—Surprise intra-meeting cuts aside, the turbulence in global equities markets likely will force the hand of the U.S. Federal Open Market Committee, and the next FOMC meeting Jan. 30 could herald...Read more



Filomenas Fury: Police Record Outdated
Jan 24/08
Domestic violence and out-of-control rage pervaded the relationship history of Filomena Tobias, the widow accused of murdering her hedge fund millionaire husband Seth Tobias, according to court records. Information about her marri...Read more



New report predicts greater distressed investor activity in 2008
Jan 24/08
In the light of last summer's sub-prime-triggered credit crisis, European investors are now licking their lips over a feast of potential stressed and distressed opportunities in 2008 and beyond, according to a new report by Debtwi...Read more



Protean launches insurance product to protect hedge fund investors
Jan 24/08
Protean Investment Risks, a company newly formed to offer specialist financial risk insurance products, has launched a product designed to protect hedge fund investors from losses occurring as a direct consequence of a fraud perpe...Read more



Managers confront baffling array of hedge funds
Jan 24/08
BOCA RATON, Florida, Jan 23 (Reuters) -- Worried about tracking error risk in your portfolio? Do you know your performance attribution with your 130-30 fund? Or its dynamic leverage policy? To enhance your alpha generation, are yo...Read more



Pure water focus pays for water fund, up 169% since May 2007 launch
Jan 24/08
Sextant Strategic Global Water Fund +7% December +169% Since May07Sextant Strategic Hybrid2Hedge Resource Fund +5% December +182% Since June07Sextant Strategic Opportunities Hedge Fund LP (Canadian) December +4.5%, +48.1% 1 yr, +2...Read more



Societe Generale Reports EU4.9 Billion Trading Loss
Jan 24/08
Societe Generale SA said unauthorized bets on stock index futures by an unidentified employee caused a 4.9 billion-euro ($7.2 billion) trading loss, the largest in banking history. France's second-largest bank by market value plan...Read more



Sears Would Face Soft Real-Estate Sector
Jan 23/08
Wall Street Journal reports: If Sears Holdings Corp.'s plan to reshape itself into several separate operating units heralds a long-anticipated spinoff or sale of the retailer's real estate, the precedents for investors seem promis...Read more



AIMA and Hedge Fund Standards Board to cooperate
Jan 23/08
The Alternative Investment Management Association (AIMA) welcomes the publication of the ‘Best Practice Standards and their Future Development’ Report published by the Hedge Fund Working Group (HFWG) in the UK. AIMA and the Hedge ...Read more



Top U.S. Pension Plans Increase Alternative Investment Allocations
Jan 22/08
The nation's largest defined benefit plans have substantially increased their allocations to alternative investments, including hedge funds and private equities, during the 12 months ended Sept. 30, according to data compiled by P...Read more



Bosnia a top pick among frontier markets in 2008
Jan 22/08
Frontier emerging markets specialist Exotix has picked out Bosnia as a key source of opportunities this year for institutional and retail investors.The firm's chief economist, Stuart Culverhouse, told Thomson Investment Management...Read more



Hedge Funds Altering the Nature of Corporate IR
Jan 22/08
New research from Greenwich Associates suggests that U.S. companies should be adjusting their investor relations strategies to respond to fundamental shifts in the composition and expectations of the U.S. equity buy side - namely ...Read more



Sears to Set Up Separate Business Units After Earnings Declines
Jan 21/08
Sears Holdings Corp., the owner of the Sears and Kmart retail chains and Kenmore appliances, will reorganize into separate business units after a year of sales declines and dwindling profit. Sears will designate a leader to each b...Read more



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Jan 21/08
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Morningstar sees 2 per cent gains for hedge funds in fourth quarter
Jan 21/08
Hedge funds in Morningstar's database, excluding funds of funds, returned an average of 1.98 per cent during the fourth quarter of 2007, outperforming the S&P 500 Index and the MSCI World Index in US dollar terms.Overall hedge...Read more

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