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Tuesday, July 16, 2024

General News

Top Managers Get $3.5K/Minute
Sep 03/07
Top hedge fund and private managers make more in 10 minutes than the average U.S. worker earns in an entire year, according to a report by the Institute for Policy Studies and United For a Fair Economy. The report, Executive Exces...Read more

Hedge Funds Still Make Institutional Investors Squeamish
Sep 02/07
Several media outlets reported last week on a recent study by Northern Trust covering institutional investments in hedge funds. The central conclusion of the study is that pension plans seem not to walk their talk on hedge funds.I...Read more

Hedge Funds Invest in Debt
Sep 01/07
Hedge funds generated almost 30% of U.S. fixed-income trading volume last year—double the 15% they accounted for in the prior 12-month period, according to a study by Greenwich Associates. In past years, the company has documented...Read more

Hedge funds now major players in U.S. fixed-income market, says Greenwich
Aug 31/07
In structured credit, hedge funds generated nearly half the trading volume reported in the U.S. over the past 12 months.Hedge funds generated nearly 30% of U.S. fixed-income trading volume last year, double the 15% they accounted ...Read more

Bernanke says Fed will act as needed
Aug 31/07
The Federal Reserve is poised to protect the markets, but doesn't seem inclined to cut interest rates in the near future. “It is not the responsibility of the Federal Reserve — nor would it be appropriate — to protect lenders and ...Read more

Hedge Fund Launches Grounded
Aug 31/07
How slow can it go? There were only three hedge fund launches in July, compared with 40 a year ago, according to figures from The Barclay Group, as reported by HFM Week. The second quarter of this year saw just 65 roll-outs, less ...Read more

Hillsdale steps up institutional presence in Quebec
Aug 30/07
Hillsdale Investment Management today appointed Johnny Quigley as vp, institutional business development for Quebec.Quigley recently served for six years as the director of investments at the $1.4 billion Lucie and Andre Chagnon F...Read more

August HF Returns Look Bleak
Aug 29/07
Three days to go before the end of the August, and already the hedge fund industry is bracing for its first downer of the year. “This month looks pretty grim,” Christopher Holt of Holt Capital Advisors told Reuters. One unnamed HF...Read more

Investment Technology Group unveils algorithm that reacts to market events
Aug 29/07
Investment Technology Group, a New York-based provider of technology-based trading services and transaction research, has unveiled a new type of trading algorithm that reacts to real-time market events in fulfilling the user's per...Read more

Voltrex foreign exchange platform available via internet
Aug 29/07
Voltrex's foreign exchange services for financial institutions, corporates and private individuals are now accessible globally through an internet browser-based thin client, avoiding the need to download software.The foreign excha...Read more

‘Executive Excess’ report finds fund managers reaped windfalls in 2006
Aug 29/07
The 20 highest-earning managers of private equity firms and hedge funds had an average income of $657.5 million last year.To compare: That was 22,255 times the annual pay of the average American worker.Stratospheric earnings of th...Read more

Blumont takes over Augen marketing
Aug 29/07
BluMont Capital has struck a deal to acquire the portfolio management, sales and marketing, and back-office functions of Augen Capital's flow-through fund business, which includes the Augen Resource Strategy Fund (RSF). Augen will...Read more

Bear Stearns Judge Delays Ruling Banning U.S. Suits
Aug 28/07
Aug. 27 (Bloomberg) -- A federal judge refused to grant permanent protection from U.S. lawsuits for Bear Stearns Cos.' two bankrupt hedge funds, questioning whether the Cayman Islands should be the principal site of their...Read more

U.S. hedge fund losses seen adding up
Aug 28/07
BOSTON (Reuters) - For hedge funds the last weeks of summer have been anything but lazy or dull as market turbulence left many of the industry's most prominent funds nursing losses this month, investors and analysts said.As the en...Read more

Wall Street-on-Sea feels the chill amid talk of shake-out
Aug 28/07
Only the fittest investment houses will remain when market volatility subsides.Sandwiched between fine art galleries, cigar stores and designer fashion boutiques, the Subway barber shop on Greenwich Avenue clips short, smart "...Read more

LTCM Figure Starts New Hedge Venture
Aug 28/07
Long Term Capital Management cofounder Robert Merton is launching a new hedge fund firm. Merton's firm, Integrated Finance, has merged with Marakon Associates to form a new company known as the Trinsum Group. In an interview with ...Read more

Hedge Fund Manager Assaulted at Gym During Workout
Aug 28/07
A hedge fund manager is alleging he suffered a "spine-crushing" attack during a workout session at a New York gym. The New York Post reported Stuart Sugarman sustained a concussion and back injury when another gym patron...Read more

As HFs Converge, More Suffer
Aug 28/07
Amid the finger pointing that quantitative hedge funds suffered losses because many ended up investing in the same things comes another revelation that explains why the subprime mortgage crisis had such a negative impact on the in...Read more

AGF to spike futures fund
Aug 28/07
AGF Management Ltd. is killing off what is one of the worst-performing active mutual funds in the country. AGF Managed Futures, with assets of just under $10-million, is no longer available for purchase and will be terminated on N...Read more

Few Withdrawal Symptoms So Far
Aug 27/07
History doesn’t seem to be repeating itself as far as hedge fund redemptions are concerned, at least so far. True, it’s not even two weeks since redemption day Aug. 15, but there has been nary a report of any mass exodus by invest...Read more

Pensions Still Wary Of HFs
Aug 27/07
Pension plans are still wary about investing in alternatives, especially in hedge funds, according to a new white paper by Northern Trust. In a survey conducted by CREATE Research of some 300 fund managers and defined benefit plan...Read more

Hedge Fund Hit Man Hired by Cohen, Loeb, Sender, Says Insurer
Aug 24/07
Aug. 24 (Bloomberg) -- One morning in 2005, an unusual letter arrived for Rev. Barry Parker at St. Paul's Anglican church in Toronto. The news: A member of his flock was out to swindle the parish. ``Dea...Read more

Pallotta Says Market Turmoil `Crushed' Raptor Fund's Stock Bets
Aug 24/07
Aug. 24 (Bloomberg) -- James Pallotta's $8.5 billion Raptor hedge fund fell 8 percent this year through Aug. 15 as bets against some stocks failed to protect him amid a global stock- market selloff. ``S...Read more

Accused HF Fraudster Molitor Dead in Crash
Aug 24/07
CENTRAL ISLIP, N.Y. (HedgeWorld.com)—Michael A. Molitor, a former hedge fund manager charged last spring with defrauding his investors, died Monday [Aug. 20] in a motorcycle accident in Dix Hills, N.Y. He was 41. At the time of th...Read more

Axiom Says Commodity Funds Trounce Falling Stocks
Aug 23/07
Aug. 22 (Bloomberg) -- Axiom Fund Manager Ltd.'s Mohammed Syed, the world's best-performing investor in commodity hedge funds this year, says the stock market rout bolsters his view that grain, mining and oil beat falling...Read more

Goldman Global Equity Hedge Fund Rises 12% After Cash Infusion
Aug 23/07
Aug. 23 (Bloomberg) -- Goldman Sachs Group Inc.'s Global Equity Opportunities hedge fund rose 12 percent last week after the securities firm shored up the money-losing pool with $3 billion of cash, investors said. ...Read more

GLG hedge fund is latest market casualty
Aug 23/07
GLG European Long-Short fund, one of GLG's biggest hedge funds with more than $2bn (£1bn) in assets, fell 4.4 per cent in value in the first 10 days of August, making it one of the latest casualties of the recent turmoil in financ...Read more

Market sees future in hedge funds
Aug 23/07
 Like many other emerging markets, India has been benefiting from significant foreign fund flows in recent years as investors’ quest for yield and increasing risk appetite has led them to look farther afield from their home market...Read more

Upper Deck Ends Topps Bid
Aug 23/07
In a move sure to disappoint hedge funds, baseball card manufacturer Upper Deck has withdrawn its offer for rival Topps. Upper Deck had offered $10.75 per share for Topps, outbidding a consortium led by former Disney head Michael ...Read more

Hedge-Like ETFs No Threat
Aug 23/07
A new breed of hedge-like offerings are on the horizon that some suggest could pose a challenge to the hedge fund industry, though not likely a threat. According to Investment News, among the growing number of indices aimed at rep...Read more

Hedge Funds Are Profits Of Doom
Aug 23/07
Lest anyone believe that the subprime mortgage morass has been all gloom and doom for hedge funds, The Hennessee Group notes that there may be more gainers than the well-publicized losers from the situation. Hennessee doesn’t quan...Read more

Resurrection of a hedge fund
Aug 23/07
Hedge fund managers like to brag about the “Darwinian selection” that kills off their less successful brethren and helps the best-performing to grow rapidly.But evolution is hardly the word to describe changes the hedge fund arm o...Read more

Hedge funds: Why are they surprised?
Aug 23/07
With financial markets in crisis mode and angry investors demanding to know how so many hedge funds and supposedly fail-safe securities fell to pieces so fast, the new buzz word among fund managers and executives in the hot seat i...Read more

Public pensions exposed to losses in hedge funds
Aug 22/07
NEW YORK - Recent market turmoil is likely to test the mettle of public pensions invested in hedge funds. Craving returns that are higher than plain-vanilla stocks and bonds, public pensions poured billions of dollars into hedg...Read more

Unions Irked At EC On Hedge Funds
Aug 22/07
Regardless of whether hedge funds are actually to blame for the global financial crisis, the European Trade Union Confederation has accused the European Commission of failing to take seriously the threat “the stupendous growth” of...Read more

Funds of hedge funds start to show impact of sub-prime trading
Aug 22/07
The meltdown in US sub-prime lending is certain to have an impact on UK fund of hedge funds, analysis of recent performance shows.Although it is too early to say which of the funds has been hit, research from WINS Investment Trust...Read more

Indian markets unlikely to be rocked by market turmoil, says Hudson Fairfax
Aug 22/07
India's economy remains a good bet for international investors, with buoyant domestic demand and strong fundamentals, in spite of the fallout from the turmoil in US, European and Asian markets, according to executives from the Hud...Read more

Hedge funds profit from sub-prime collapse, says Hennessee
Aug 22/07
Hennessee Group, an adviser to hedge fund investors and index provider, says that while some hedge funds focused on mortgage-backed securities have suffered well-publicised losses due to the decline in the sub-prime mortgages sect...Read more

Discus May Lose $407 Million on Sentinel Collapse
Aug 22/07
Aug. 22 (Bloomberg) -- Capital Fund Management, a Paris- based hedge-fund manager, said its Discus Master Fund could lose as much as 27 percent of its assets, or $407 million, after the bankruptcy of cash-management firm ...Read more

Hedge Fund Manager, Intent on Market, Misses Maserati
Aug 22/07
Aug. 21 (Bloomberg) -- Bertrand Des Pallieres, founder of the SPQR Capital LLP hedge fund, said he was so focused on the swings in financial markets that he didn't notice his 80,000- pound ($160,000) sports car had been i...Read more

Franklin Templeton Investments launches three new Sicav funds
Aug 21/07
Franklin Templeton Investments, one of the world's largest asset managers with more than USD621bn in assets under management, has launched three new Sicav funds within its Luxembourg-domiciled Franklin Templeton Investment Funds r...Read more

It’s Prime Time For A Change
Aug 21/07
Investment banks are sustaining a major body blow as hedge funds are deserting them and taking their business to commercial banks that have heftier balance sheets and better credit ratings, Financial News reports. Even the giants ...Read more

Emerging Markets Tops In 2Q
Aug 21/07
Emerging-market hedge funds were by far the best performers in the second quarter, gaining an average of 10.26%, according to Morningstar. Specialists in that strategy held down the top five positions in a ranking of HFs with more...Read more

Greek police arrest former hedge-fund president wanted in U.S. for $27 million fraud
Aug 20/07
ATHENS, Greece: A fugitive former hedge-fund president sought in the U.S. for $27 million fraud was arrested on Crete Monday on an international warrant, police said.Police said Angelo Haligiannis, 35, former president of hedge fu...Read more

Asia ETFs Rebound After U.S. Cuts Rates
Aug 20/07
Asian markets built on Friday's gains following the Fed's discount rate cut. Monday's surge came on an announcement from China's vice minister of commerce. He said the country's exports are likely to grow 27% this year to $1.231 t...Read more

Money market funds abused, claims founder
Aug 20/07
Bruce Bent, the inventor of the money market fund, has criticised the “flagrant abuse” of the concept – which he introduced in 1970 – that has come to light in recent weeks. Mr Bent, who established the world’s first money market ...Read more

Oil and gas prices diverge as hedge funds cut bets
Aug 20/07
The movement of crude oil and natural gas prices in the past two weeks has caught the energy market by surprise as hedge funds liquidate their positions en masse and cause a sudden change in the directions the prices, analysts say...Read more

Strict conduct code needed for hedge fund managers
Aug 20/07
The opportunity for a self-regulatory approach for hedge fund managers has never been greater — or the need more urgent.The matter of regulation is of particular interest, given several important trends. Daily reports about hedge ...Read more

Fund managers dip their toes back into the market
Aug 20/07
LONDON (Reuters) - Fund managers and directors of hedge fund firms have started buying back into the stock market during the current volatility because they believe many stocks have become too cheap."We're getting back into t...Read more

Helicopter For Sale! Devaney Fire Sale Continues
Aug 20/07
First it was the yacht. Now, it's the helicopter. For beleaguered hedge fund manager John Devaney, everything must go. The New York Post reported Devaney, head of United Capital, has put his corporate helicopter up for sale for $1...Read more

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