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Wednesday, December 12, 2018

General News




Portus trial years away, lawyer says
Nov 28/07
PAUL WALDIE Globe and Mail UpdateNovember 27, 2007 at 12:12 PM ESTToronto — It will be years before Boaz Manor, the co-founder of collapsed hedge fund company Portus Alternative Asset Management Inc., goes on trial on criminal cha...Read more



Office Depot Rings up Major Buyer
Nov 28/07
BLACK FRIDAY MIGHT HAVE BEEN a little blue for Office Depot, but one hedge fund is building a significant stake in the office-supply stock.Ziff Asset Management, a hedge fund connected with the one-time owners of Ziff-Davis Publis...Read more



Banks Have A Capital HF Idea
Nov 28/07
Investment banks are beefing up their capital introduction teams with the hopes of being there when the next hedge fund star starts shining. Truth be told, reports Financial News, the strength of a capital introduction team is not...Read more



Hedge Funds Pump Up The Irony
Nov 27/07
Leverage appears to be working over time at hedge funds. While HFs borrow large sums in order to invest and help produce outsized returns, The Wall Street Journal reports, some of them on paper are pumping the leverage into their ...Read more



A hearing panel of the IDA of Canada has imposed discipline penalties
Nov 27/07
 Ionescu failed to exercise due diligence in hedge fund investment.A hearing panel of the Investment Dealers Association of Canada has imposed discipline penalties on Dan Ionescu, at all material times an approved person with the ...Read more



Hardware chain cool to Sears' courtship
Nov 27/07
Retail giant enters bid for Restoration; access to data deniedSears Holdings Corp. disclosed Monday that it has made a tentative $269 million bid to acquire Restoration Hardware Inc. but complained that the upscale home-furnishing...Read more



Beware Hedge Funds Bearing Advice
Nov 27/07
Hedge funds can inspire terror in boardrooms these days. Whereas directors might once have trashed an angry letter from a hedge-fund manager holding a few million shares of their companies, in this age of investor activism, they a...Read more



Funds get traditional with long/short equity
Nov 27/07
More opportunistic approach behind trendBy Christine WilliamsonPension funds, endowments and foundations are rethinking how they employ long/short equity strategies within their actively managed equity portfolios. The mind shift i...Read more



Portus hearing postponed until January
Nov 27/07
Boaz Manor, co-founder of Portus Alternative Investment Management, appeared in court today only to find out that the trial is delayed until January 21, 2008. Manor is facing numerous counts of fraud, money laundering and possessi...Read more



Huge return for hedge fund betting against subprime
Nov 26/07
A Californian hedge fund has made more than 1,000 per cent return this year by betting against US subprime home loans, making it one of the world's best-performing funds of all time.Lahde Capital, set up in Santa Monica last year ...Read more



Big push into alternative assets
Nov 26/07
Institutional investors across Europe plan to pump more than €100bn (£72bn) into alternative assets in the next two to four years.But not everyone is being swept off their feet by the charms of alternative asset managers, with ...Read more



1000% hedge fund wins subprime bet
Nov 26/07
A Californian hedge fund has made more than 1,000 per cent return this year by betting against US subprime home loans, making it one of the world’s best-performing funds of all time.Lahde Capital, set up in Santa Monica last year ...Read more



Hedge Funds: Leveraging the Numbers
Nov 26/07
Size Can Be Deceiving When Borrowed Money Is Added to Calculation Hedge funds have become famous for using borrowed money to boost their returns. But the upheaval in credit markets is shedding light on another way they use it: to...Read more



New disclosure regime for principal protected notes outlined
Nov 26/07
Federal finance minister Jim Flaherty is releasing for public comment regulations for banks issuing principal protected notes to improve disclosure for consumers.“Markets work best when consumers have the information they need ...Read more



Canadians called more sensitive to domestic market
Nov 26/07
MONTREAL — Canadian investment professionals are more critical than outsiders of the Canadian marketplace, said Jon Stokes, of the Charlottesville, Va.-based CFA Center for Financial Integrity. Mr. Stokes was speaking at the ...Read more



Hedge fund critics easing off, Fairfax says
Nov 23/07
Insurer alleges funds and their employees undertook 'massive, illegal and continuing scheme' to target companyWhile the bizarre and twisted saga that has enveloped Canadian insurance firm Fairfax Financial Holdings Ltd. is far fro...Read more



More hedge fund managers in rush to float
Nov 23/07
Gottex Fund Management, the Lausanne and London-based fund of hedge funds group, this month made its debut on the Swiss Exchange, the latest in a line of alternative asset managers cashing in on a perceived appetite among invest...Read more



SEC commissioner acknowledges backtrack on hedge fund investor eligibility
Nov 23/07
SEC Commissioner Paul Atkins acknowledged to delegates at the Edhec Alternative Investments conference in London that critical feedback from investors on proposals to tighten US eligibility criteria for investment in hedge funds...Read more



Soros buys into Biyani's Future Capital
Nov 23/07
MUMBAI: George Soros’ Quantum Fund has picked up an undisclosed stake in Future Capital Holdings (FCH), the financial services arm of Kishore Biyani’s Future Group, it is reliably learnt. Och Ziff Capital, one of the world’s...Read more



Multi-strategy funds survive turmoil of Amaranth collapse
Nov 23/07
Diversification debate continues a year after collapseWhen hedge fund Amaranth Advisors imploded with losses of $6bn (€4.1bn) last year, investors re-examined their exposure to multi-strategy funds. A diversified portfolio is supp...Read more



Lyxor says M&A hedge funds to shine
Nov 23/07
FRANKFURT (Reuters) - Hedge funds focused on arbitrage between convertible bonds and the underlying stocks could outperform next year amid widening credit spreads and continued high volatility, Lyxor Asset Management said.Anoth...Read more



Gentree launches first hedge fund
Nov 23/07
Gentree Asset Management has announced the launch of Gentree Market Risk Reduction Strategy, the company's first hedge fund offering.The fund is being distributed via a private placement offering to Ontario institutions and privat...Read more



S&P rated FoHF make money in difficult times
Nov 22/07
Funds of hedge funds (FoHF) rated by Standard & Poor’s Fund Services made money in the third quarter despite concern in the markets over the ongoing credit crunch. Research just published shows that in aggregate the S...Read more



British Regulators Say Hedge Funds Not To Blame
Nov 22/07
Hedge funds are not to blame for this summer’s credit crisis, and have dealt with it more effectively than other financial institutions, two top British regulators have said. Hector Sants, the CEO of the Financial Services Auth...Read more



Man Chief Predicts Soaring Hedge Fund Closures
Nov 22/07
When the dust from the credit crisis clears, Peter Clarke expects to see an awful lot of casualties. The Man Group CEO says he expects more than 10% of hedge funds will have gone out of business by the new year; for every high-p...Read more



Portus Co-Founder Mendelson Pleads Guilty to Fraud
Nov 20/07
Nov. 19 (Bloomberg) -- Michael Mendelson, co-founder of Portus Alternative Asset Management Inc., pleaded guilty to one count of fraud and was sentenced to two years in prison for his part in the collapse of the C$800 m...Read more



Hedge Fund Copper Arch to Liquidate
Nov 20/07
NEW YORK (Reuters)—Copper Arch Capital LLC, a $1 billion hedge fund, is liquidating because its founder, former Morgan Stanley executive Scott Sipprelle, wants a "new challenge," according to a letter sent to investor...Read more



BluMont Capital closes acquisition of two Halcyon funds
Nov 20/07
 Halcyon Hirsch funds now carry BluMont bannerBluMont Capital Corp. says that it has closed the acquisition of the administrative management contracts of Halcyon Hirsch Opportunistic Canadian Fund and Halcyon Hirsch Opportunistic ...Read more



IOSCO finalizes Principles for the Valuation of Hedge Fund Portfolios
Nov 20/07
 Principles aimed at strengthening controls, oversight and independence of the valuation processThe International Organization of Securities Commissions released its Principles for the Valuation of Hedge Fund Portfolios today.The ...Read more



Is your mutual fund an overpriced long/short hedge fund?
Nov 20/07
Many investors view hedge funds as overpriced and risky playground for wealthy investors who refuse to settle for "plain vanilla" mutual funds. But hedge funds may actually be a cheaper and less volatile alternative to m...Read more



Hedge funds not selling themselves short
Nov 19/07
Among the winner of the volatility are the 'hedgies' - but not everyone thinks they are playing fair. Helen Power investigates They thrive on market volatility and they gamble on failure. Short-sellers, mostly hedge funds, wh...Read more



BluMont Capital closes acquisition of two Halcyon funds
Nov 19/07
BluMont Capital Corp. says that it has closed the acquisition of the administrative management contracts of Halcyon Hirsch Opportunistic Canadian Fund and Halcyon Hirsch Opportunistic Tactical Allocation Fund from Halcyon Fund Man...Read more



Goldman Sachs Rakes in Profit in Credit Crisis
Nov 19/07
For more than three months, as turmoil in the credit market has swept wildly through Wall Street, one mighty investment bank after another has been brought to its knees, leveled by multibillion-dollar blows to their bottom lines...Read more



Goldman warns of a substantial US recession
Nov 19/07
Goldman Sachs has sent a shudder through the debt markets, warning that sub-prime mortgage losses could force banks to slash lending by $2,000bn (£980bn) and push the United States into a deep recession.Jan Hatzius, US chief econo...Read more



FSA delays hedge fund decision
Nov 18/07
The Financial Services Authority has postponed publishing rules likely to increase the number of funds of hedge funds investors are able to buy until early next year.A decision was made to put off issuing a policy statement on ...Read more



Hedge Fund Marketing: Know the Edge
Nov 18/07
CHICAGO (HedgeWorld.com)—Philip Halpern spent years managing billions of dollars in assets for institutions like the University of Chicago, the California Institute of Technology and the Washington State Investment Board. In th...Read more



Carlyle hedge fund facing redemptions
Nov 17/07
 NEW YORK, Nov 14 (Reuters) - Private equity giant Carlyle Group [CYL.UL] is facing challenges with its first hedge fund, Carlyle-Blue Wave Management Partners, a $700 million fund built as part of a diversification strategy, peop...Read more



The Democrat Hedge
Nov 17/07
Somewhere on Wall Street there is a hedge-fund manager ruing the day he gave money to a Democrat in 2006. On Nov. 9, the House passed a plan that would raise taxes on the lofty fees and bonuses that hedge-fund and private-equity m...Read more



Pictet Launches Conservative HF-Like Mutual Fund
Nov 17/07
GENEVA (HedgeWorld.com)—Pictet Funds, the fund distribution arm of Swiss private banking firm Pictet & Cie, has launched a risk-averse version of its PF (LUX) Absolute Return Global Diversified Fund. The new fund, PF (LUX) ...Read more



Fed throws another $6bn into the markets
Nov 16/07
The Federal Reserve injected another $6bn (€4.1bn) into the US banking system, as industry insiders predicted the bleak outlook for leveraged finance would continue into 2008.The Federal Reserve repurchased $47.25bn in the markets...Read more



Sentencing of hedge fund co-founder delayed
Nov 16/07
NEW YORK - A former top aide to famed investor and political activist George Soros will not be sentenced until at least Tuesday on charges that he conspired to defraud investors in the hedge funds he co-founded.U.S. District Court...Read more



Advent's new-look Geneva "kills two birds with one stone"
Nov 16/07
The launch by Advent Software of version 7.0 of its Geneva investment management, reporting and accounting platform is set to increase the application's attractiveness to hedge fund managers, who are already the fastest-growing us...Read more



Garda Victim Of Hedge Funds, says source
Nov 16/07
Garda World Security Corp. yesterday sought to quell market concerns as its stock continued a one-month slide. But while the Montreal-based security services firm said "there is no particular information to disclose" tha...Read more



Hedge Fund Review`s 6th Annual European Fund of Hedge Funds Awards
Nov 16/07
From HedgeFundReview.com: The 6th Annual European Fund of Hedge Funds Awards took place at the impressive Royal Horticultural Halls, London last night. With a record number of entries and all tables sold out weeks ago, this year’s...Read more



Bear Stearns Fund, Battered by Subprime Woes, Seeks to Dissolve
Nov 15/07
A Bear Stearns investment fund hurt by the decline in the subprime mortgage market and facing creditors' complaints about its management asked a Delaware judge to allow it to dissolve and liquidate its assets. Bear Stearns High-Gr...Read more



Amaranth, a Collapsed Hedge Fund, Sues JPMorgan Chase
Nov 15/07
Amaranth, the hedge fund that collapsed last year amid $6 billion in losses, has sued JPMorgan Chase for at least $1 billion, accusing the bank of fraudulently taking advantage of the firm during its crisis in September 2006.Amara...Read more



Two hedge funds move on after big subprime bets
Nov 15/07
SAN FRANCISCO (MarketWatch) -- Two hedge fund firms that racked up huge gains betting on the subprime mortgage meltdown have begun winding down those trades and looking elsewhere. They're now betting against corporate debt using d...Read more



Man industry professionals: Nordic Institutional interest in hedge funds is on the rise
Nov 15/07
The appetite for hedge fund investments among Nordic institutional investors is as strong as ever, making the Nordic region a market with tremendous potential, believes two investment professionals from Man Investments. Interest i...Read more



Portus's Boaz Manor in Canadian court for first time
Nov 14/07
Boaz Manor, co-founder of one of the largest failed hedge funds in Canada, set foot in a Canadian courtroom for the first time Tuesday to face criminal charges involving allegations he defrauded thousands of investors in Portus Al...Read more



Manager sees better days ahead
Nov 14/07
Hedge fund manager Hugh Cleland expects North American markets to recover from the recent downturn sparked by concerns about the fallout from the U.S. subprime mortgage mess."We are in the middle of a retest of the August low...Read more

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