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Saturday, June 22, 2024

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HF Asset Levels Much Higher, Administrators Report
Jul 23/07
NEW YORK (HedgeWorld.com)—Estimates of worldwide hedge fund assets have always varied by provider and methodology, since there is no single database that includes all hedge funds. A Deutsche Bank study in January 2007 put inv...Read more

UK awaits retail access to funds of hedge funds
Jul 23/07
The UK regulator shook things up a few months back when it proposed the introduction of regulated funds of hedge fundsthat would give small investors easier access to hedge fund strategies.But thus far the good news that privat...Read more

Institutional Investors Still Headings For HFs
Jul 23/07
Highlighting a year in surveys and studies, Infovest21 has issued a white paper that suggests institutional investors continue to head for hedge funds. So, in case you missed the news as it happened, here are some of the salien...Read more

Banks Unite On Trading Platform
Jul 23/07
FT reports: Merrill Lynch, Lehman Brothers, Morgan Stanley and Citigroup are among a group of investment banks developing an electronic trading platform for unregistered US securities that will compete with existing systems, such ...Read more

Hedge Fund Index Debacle
Jul 20/07
Another day, another hedge fund indexing debacle. Credit Suisse/Tremont, one of the most popular hedge fund indexers, issued a bit of a revision to one of its indexes yesterday. After reporting on Monday that its fixed-income arbi...Read more

Man Raises $2.9 Billion From MF IPO, Less Than Sought (Update3)
Jul 19/07
July 19 (Bloomberg) -- Man Group Plc raised $2.92 billion from the initial share sale of its MF Global brokerage unit, less than planned, after the failure of two Bear Stearns Cos. hedge funds heightened concern about the...Read more

Hedge-Fund Managers Cohen, Griffin, Sender Are Top Collectors
Jul 19/07
July 19 (Bloomberg) -- U.S. hedge-fund managers Steven Cohen, Kenneth Griffin, Adam Sender, David Ganek and Daniel Loeb are among the world's 200 most active art collectors, according to a list compiled by the magazine AR...Read more

AIMA launches institutional investor steering committee
Jul 19/07
The London-based Alternative Investment Management Association (AIMA), has announced the creation of a new hedge fund industry Investor Steering Committee (ISC).The committee is to comprise institutional and other investors, and w...Read more

Dollar Slumps to Record Low Versus Euro on Bear Stearns Losses
Jul 18/07
July 18 (Bloomberg) -- The dollar fell to a record low against the euro and dropped versus the yen after Bear Stearns Cos. reported hedge fund losses, fueling speculation investors will spurn U.S. assets as the economy sl...Read more

Bear Stearns to wind down troubled hedge funds
Jul 18/07
BUSINESS TICKER: NORTH AMERICA: SERVICES: FINANCIALBear Stearns Cos. Inc.'s two troubled hedge funds that bet heavily on risky subprime loans now have "very little value," the company said in a letter sent to investors y...Read more

Derivatives Banks Concerned by Hedge Fund Leverage (Update3)
Jul 17/07
July 17 (Bloomberg) -- Hedge fund borrowing to invest in credit derivatives may magnify volatility in a market slump, according to a Fitch Ratings survey of 65 banks and insurers. A ``dramatic'' increase...Read more

Has the US Subprime Meltdown Made Its Way North?
Jul 13/07
It seems as if the US subprime mortgage market has been dragged through the mud for months now but according to published reports, this domestic problem may be inching it’s way overseas… well, across the border anyway. A July 9 Re...Read more

London Stock Exchange launches specialist market for alternative funds
Jul 13/07
The London Stock Exchange has responded to the impending closure by the Financial Services Authority of the light-touch Chapter 14 listing regime used by foreign-based alternative funds by establishing a dedicated market for funds...Read more

Alternatives industry does battle for hearts and minds of legislators
Jul 13/07
The alternative investment industry is going into battle on both sides of the Atlantic in a bid to head off a range of legislative moves seeking to raise the level of tax paid by partners in hedge fund and private equity managemen...Read more

RBC Hedge Index Up In June
Jul 13/07
RBC Capital Markets yesterday reported that the RBC Hedge 250 Index returned 0.61% in June, bringing the year-to-date return of the Index to 7.02%.Managed futures funds had the best month, returning 2.34% (7.71% YTD). That was fol...Read more

Hedge Horror
Jul 12/07
Subprime Meltdown Could Wipe Out Billions:As home foreclosures ricochet through Main Street in rising junk mortgage meltdowns, Wall Street is facing a separate barrage that could swamp its first rich victims - hedge funds for the ...Read more

Most long/short managers really running long-only portfolios, says Cartesian
Jul 12/07
Investors should challenge their long/short hedge fund managers to prove that they are not running closet long-only portfolios, according to Cartesian Capital, the Edinburgh-based investment boutique established as a joint venture...Read more

Man Group assets rise to $67 billion
Jul 12/07
LONDON (Reuters) - Man Group, the world's largest listed hedge fund firm, said on Thursday that its assets under management rose to $67 billion (33 billion pounds) at end-June, up from $61.7 billion at end-March, and that it was u...Read more

SEC gains power to sue hedge funds for fraud
Jul 12/07
WASHINGTON -- The U.S. Securities and Exchange Commission has adopted new rules ensuring it can sue hedge funds for misleading investors, following a court ruling that put in doubt the regulator's authority over the $1.6-trillion ...Read more

Hedge funds bet on fall in S&P 500
Jul 11/07
LONDON -- Hedge funds are short-selling Standard & Poor's 500 index futures by the most in three years, a Merrill Lynch & Co. analyst says, and she recommends investors buy the securities before the funds have to settle th...Read more

Claymore's Active Oil Sands ETF
Jul 11/07
Claymore has once again blurred the lines between active and passive investing, launching a new Canadian oil sands exchange-traded fund (ETF) that smacks closely of active management.The new Claymore/SWM Canadian Energy Income ETF...Read more

US Mutual funds fall under hedge regulation
Jul 11/07
Mutual funds will be subject to a new rule approved by the SEC that prohibits fraud in hedge funds and other private investment pools.In a meeting today in Washington, all five members of the commission voted for final approval of...Read more

Testimony Amounts To A Hill of Been There, Done That
Jul 11/07
Hearings held on Capitol Hill produced nothing new under the D.C. sun as it applies to the burning issues of the day: hedge funds, private equity and taxation – except for one little tidbit of news. Speaking before the House Commi...Read more

Leverage Liquidity Drying Up For Hedge Funds
Jul 11/07
First came reports that investment banks were demanding higher margin requirement from hedge funds that invest in mortgage-backed bonds. Now, it appears the banks are pulling the plug on lending for such loans altogether. “We’re s...Read more

Banks seen pulling back lending to loan buyers
Jul 11/07
LONDON (Reuters) - Banks are pulling back from lending to hedge funds and others who invest in leveraged loans, raising the spectre of more problems syndicating debt packages behind private equity deals, restructuring specialists ...Read more

Securities Fraudster Nabbed
Jul 10/07
After several carefree years of life on the lam, 35-year-old Michael Berger (self-confessed fraudster formerly of Manhattan Investment Fund) was finally arrested in Austria.Fugitive executives are an old story in business, with Co...Read more

US Hedge funds remain in legislative cross hairs
Jul 10/07
A second bill has been introduced that would require hedge fund advisers to register with securities regulators. HR 2586, introduced last month by Rep. Michael Capuano, D-Mass., would amend the Investment Advisers Act of 1940 to a...Read more

Ratings Cut Could Mean More HF Losses
Jul 10/07
Facing criticism that their grading classifications on subprime mortgage-backed bonds are no longer accurate, Standards & Poor’s reportedly may downgrade the ratings on $12 billion worth of the offerings – a move that could me...Read more

130/30 poised to hit retail market
Jul 10/07
One of the most popular institutional investment strategies, the 130/30, is making its way into the retail market. Last week, UBS launched the first pair of 130/30 funds in the world aimed at this market segment. Although these ty...Read more

TD Ameritrade refuses to give hedge funds records they requested
Jul 09/07
LINCOLN, Nebraska: The squabble between TD Ameritrade Holding Corp. and two hedge funds continued Friday as the online brokerage refused the funds' request to examine records related to any merger discussions.Earlier this week, Am...Read more

Hedge Funds Rise As Markets Fall In June
Jul 09/07
In spite of declining equity markets, hedge funds enjoyed another up month, the HFN Hedge Fund Aggregate Average shows.Hedge funds rose 1.4% last month, the 11th consecutive positive monthly return for the index, HedgeFund.net sai...Read more

Higher hedge fund threshold on hold
Jul 09/07
A controversial proposal to raise the wealth threshold for investors in hedge funds and other alternative investments is being put on hold by the Securities and Exchange Commission.The proposal to raise the so-called “accredited i...Read more

Bear Chief’s Golf Outings Draw Mixed Reviews
Jul 09/07
On Sunday, The New York Times published an item in its “Suits” column observing that, as two hedge funds managed by Bear Stearns were sinking last month in what has become commonly referred to as a “crisis,” Bear Stearns chief exe...Read more

Hedge fund files proxy in looming board battle with H&R Block
Jul 09/07
 KANSAS CITY, Mo. (AP) - Breeden Capital Management LLC filed a proxy statement Monday urging H&R Block Inc. shareholders to support its three nominees for the tax preparation giant’s board of directors.The Greenwich, Conn.-ba...Read more

Hedge Funds Look South As Subprime In U.S. Sinks
Jul 09/07
Suddenly mortgage-backed bonds in Mexico are looking better and better to foreign investors. “We’ve seen stronger interest in the Mexican market from some international investors now that we’ve seen adverse outcomes in the U.S. su...Read more

State Street launches new long/short strategy
Jul 09/07
State Street Global Advisors is launching its Canadian Index Plus Edge strategy, designed to provide a bridge between low risk/low value-added passive portfolios and high risk/high-value added active strategies. The Canadian Index...Read more

Subprime risks come home to roost for hedge funds
Jul 08/07
NEW YORK (Reuters) - Bad bets revealed by some hedge funds in recent weeks may mean other funds will be forced to accept the market's deteriorating views on subprime mortgages and report their own losses soon. Some m...Read more

Better financial controls encourage risk-taking-Nobel laureate
Jul 08/07
SINGAPORE, July 6 (Reuters) - Nobel prize-winning economist and former hedge fund manager Robert Merton believes better risk controls will make financial markets more efficient but also encourage investors to take on ever hi...Read more

SEC to Discuss New HF Rule
Jul 07/07
WASHINGTON (HedgeWorld.com)—The Securities and Exchange Commission has announced that it will consider a new anti-fraud rule at its meeting next week, one that will include hedge funds in its coverage. The SEC originally prop...Read more

Everyone wants to manage a hedge fund
Jul 06/07
NEW YORK: What are the career aspirations of the most accomplished and ambitious students these days? I haven't seen a formal survey, but a rapidly growing percentage of the best students I teach say they want to manage hed...Read more

In Hedge Fund I.P.O.’s, Shades of Pets.com? Not Really
Jul 06/07
In 2005, about the time hedge funds started sprouting like weeds, investors, money managers and the media started to question whether there might be a hedge fund bubble. With hedge funds lining up to go public, the questioning has...Read more

One More Hedge Fund Suspends Redemptions - Just Another Crack in the Ice?
Jul 05/07
Imagine you were standing at the center of a beautiful, tranquil, ice-covered pond. Life is blissful and, for the moment, prosperous. Suddenly cracks begin to appear on the surface, in every direction. The sun is ...Read more

Hedge Funds Mystify Markets, Regulators
Jul 04/07
Deeply Powerful, Largely Unchecked Wall Street chroniclers one day could look back at the early 21st century and easily dub it the Era of the Hedge Fund. The question is whether it will be remembered as an age of reason or i...Read more

Sprott snags star managers from Sceptre
Jul 04/07
Sprott Asset Management announced Wednesday that Allan Jacobs and Peter Imhof will be leaving Sceptre Investment Counsel and joining Sprott Asset Management, effective August 1, 2007. Jacobs had managed the $844-million Sceptre Eq...Read more

DFSA releases draft Hedge Fund Code
Jul 03/07
The Dubai Financial Services Authority (DFSA) issued today a draft Hedge Fund Code ('Code') for public comment.Consultation Paper No. 50 and the Code, which are posted on the DFSA website www.dfsa.ae, seek comment on the DFSA's pr...Read more

Asset Management Firm in Hot Water
Jul 03/07
Lake Shore Asset Management Ltd. (LAM) is reportedly in hot water after having its assets frozen by a federal district court judge. After a complaint was filed by the Commodity Futures Trading Commission (CFTC), Federal Judge ...Read more

Murky world of hedge funds in need of more transparency
Jul 03/07
WASHINGTON -- High-Grade Structured Credit Fund.The name alone evokes quality, strength and liquidity.As it turns out, the troubled Bear Stearns Cos. Inc.'s hedge fund has none of those attributes. Quite the opposite.Last week, Be...Read more

Hedge funds praise TD Ameritrade move
Jul 03/07
Two hedge funds today endorsed TD Ameritrade Holding Corp's decision to establish an independent mergers and acquisitions committee.In a letter dated Tuesday, the two funds, JANA Partners LLC and S.A.C. Capital Advisors LLC, also ...Read more

Canada’s Pro-Financial puts structured products distribution on hold
Jul 03/07
Canada’s fund manager Pro-Financial has stopped offering principal protected notes (PPNs) to investment dealers, according to Ravi Ramaswamy, senior vice-president at Pro-Financial in Toronto. Ravi says that Pro-Financial would fo...Read more

Bear Stearns Dismembers U.S. Treasury Bear Market (Update4)
Jul 02/07
July 2 (Bloomberg) -- Treasury investors can thank Bear Stearns Cos. for smothering the bear market. Traders who cut their holdings of U.S. government debt just a few weeks ago as retail sales increased ...Read more

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