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Monday, May 20, 2024

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Goldman's Flagship Hedge Fund Fell 5.7% in February (Update3)
Apr 04/07
April 3 (Bloomberg) -- Goldman Sachs Group Inc.'s flagship hedge fund, managed by Mark Carhart and Raymond Iwanowski, lost 5.7 percent in February, hurt by wrong-way bets on stocks, global bonds and currencies including t...Read more

EU Mutual Funds Push for Access to Hedge-Fund Indexes (Update2)
Apr 03/07
April 2 (Bloomberg) -- European mutual funds may be able to give ordinary investors a taste of hedge-fund returns, if their managers convince regulators to let them buy derivatives of hedge-fund indexes. ...Read more

Hedge funds face growing start-up costs
Apr 02/07
Budding hedge fund managers could be forced to shelve plans to launch into the business because the minimum amount needed to launch has trebled to $200m (€150m) in three years. <!-- HIDE FROM OL...Read more

Man Group, the Large British Hedge Fund, Plans to Spin Off Its Brokerage Unit
Apr 02/07
LONDON, March 30 — The Man Group, the world’s largest publicly traded hedge fund operator, said Friday that it would spin off its brokerage division to focus on its asset management unit. The step has been in the works for...Read more

Canada Throws Cold Water On German Plans
Apr 02/07
Canadian Finance Minister Jim Flaherty said today he sees no need for any international hedge fund regulation, an issue likely to be on the table when the G-7 meets later this month and the G-8 convenes in June. German Chancel...Read more

Is there a capacity constraint facing 130/30 strategies?
Mar 30/07
A few years ago, the hedge fund industry was all abuzz about the “capacity constraint” facing many hedge fund strategies. However, while certain strategies (e.g. merger arbitrage) exploited a limited set of opportunities, mo...Read more

Many wealthy not attracted to hedge funds
Mar 29/07
Only 1 in 5 affluent U.S. investors understands hedge funds, suggesting the industry needs better marketing. NEW YORK (Reuters) -- Only one in five affluent U.S. investors understands hedge funds and other kinds of "alt...Read more

N.Y. Remains Center Of $2 Trillion Hedge Fund Industry
Mar 29/07
Hedge funds topped the $2 trillion mark by the end of last year—at least according to one estimate. The first global survey from Hedge Fund Intelligence estimates that assets in hedge funds rose 30% last year, in spite of the...Read more

Germany's Merkel pushes for G8 hedge fund talks
Mar 28/07
German chancellor Angela Merkel has embarked on a push for closer ties between the biggest economies in the world, represented by the Group of Eight, and the hedge fund industry in an effort to lower the risks of an economic cri...Read more

FSA all-clear for retail investors to put money into hedge funds
Mar 28/07
The Financial Services Authority opened the door yesterday for private individuals to invest in hedge funds, scrapping rules which prevent regulated UK investment funds from investing more than 20 per cen...Read more

ING opens up alternatives
Mar 28/07
ING’s has launched a new capital protected fund through its OneAnswer platform that gives investors access to alternative investments with the comfort of built-in safeguards. Developed exclusively for ING by Société Générale As...Read more

Replicating hedge fund indices may weaken hedge fund justification
Mar 27/07
The recent practice of replicating hedge fund indices may dispel arguments for having a portfolio allocation to hedge funds, according to a leading executive with Russell Investment Group’s US operations. “One of the ration...Read more

Amaranth investors offer forgiveness for redemptions
Mar 27/07
Investors in the hedge fund run by Amaranth Advisors, which collapsed last year amid a $6.5bn (€4.9bn) loss, have proposed dropping all potential litigation claims to speed up the payment of remaining capital. ...Read more

Porsche Raises Volkswagen Stake, to Make Takeover Bid (Update5)
Mar 26/07
March 26 (Bloomberg) -- Porsche AG boosted its stake in Volkswagen AG to 30.9 percent and said it plans to defend Europe's largest carmaker against possible influence from hedge funds and buyout firms. ...Read more

Hedge funds go public
Mar 26/07
The City watchdog is opening up this high-risk form of investment to a wider market. Report by David Budworth Investors are being encouraged to follow the lead of the American investor George Soros, who made over $1 bi...Read more

Full house at the hedge fund hotel
Mar 26/07
The days when hedge funds were launched and run from the spare bedroom are, by widespread agreement, over. The initial costs of obtaining regulatory approval and employing lawyers and accountants are burdensome enough. But the ...Read more

Janus: The Roman god of alpha/beta separation?
Mar 26/07
Janus, the company whose logo looks like an early version of that face transplant performed in France last year, has come out with an intriguing offering that aims to separate alpha and beta investment decisions.  It’s called “...Read more

Merrill Lynch tries to replicate forex hedge fund strategies
Mar 23/07
NEW YORK (MarketWatch) -- Hedge funds have something that Merrill Lynch & Co.  wants. The New York firm said Thursday that it's in the process of developing a tool designed specifically to replicate the foreign exch...Read more

Former Morgan Stanley CIO launches hedge fund
Mar 23/07
Morgan Stanley’s former chief investment officer started a hedge fund with his former colleagues just as pension plans' allocations to the asset class rises to new highs. Joseph McAlinden, formerly chief investment officer of Mor...Read more

A Closer Look at State Street’s New Hedge Fund Survey
Mar 23/07
On Wednesday, State Street released the findings from its survey of institutional investors at October’s Global Absolute Return Congress (”Global ARC”) in Boston.  The firm surveyed pensions & endowments that they say were c...Read more

IndexIQ To Release 'Hedge Fund Replicator' ETFs At Fraction of Cost
Mar 23/07
Matt Hougan (IndexUniverse) submits: The latest rage in the financial services industry is to create “hedge fund replicators”: computer-driven tools that combine assets in a way that mimics hedge fund returns at a fraction of t...Read more

KPMG Forms Alternative Investment Group
Mar 23/07
KPMG has consolidated its hedge fund, real estate and infrastructure businesses into one unit dubbed the alternative investment group, including staff from KPMG's corporate finance, tax, transaction services, audit and advisory...Read more

Institutions More Comfortable With Hedge Funds
Mar 22/07
Institutional investors are increasingly at ease with hedge funds. According to a new survey from State Street Corp., more than half of respondents say their boards are more comfortable with hedge funds today than they were a y...Read more

Hedge fund bets bigger on Nortel
Mar 22/07
Nortel Networks' biggest single shareholder, Brandes Investment Partners, a hedge fund based in San Diego, California, increased its ownership to 46.8 million shares last year — or 10.8 per cent of all stock.Brandes has been th...Read more

Pinnacle Unveils Investor Database Aimed At Emerging Managers
Mar 22/07
One of the biggest challenges for new hedge fund managers and commodity trading advisors is finding investors. Sensing this need for a cap intro product, consulting firm Pinnacle Alternative Investments has put together an inve...Read more

Hedge fund directors on guard
Mar 21/07
Offshore directors of hedge funds are becoming more active defenders of investors' rights as regulators pay more attention to the burgeoning sector, according to the authors of a new set of industry guidelines.Olwyn Alexander,...Read more

US funds propose transparency solutions
Mar 21/07
The perception of hedge funds as high-risk investments continues to play on the minds of US politicians, who discussed pension investments in the asset class during US congressional hearings last week. ...Read more

Further Transparency for Hedge Funds
Mar 21/07
 London 20th March 2007. The Alternative Investment Management Association (AIMA), the leading global hedge fund and alternative investment industry association has issued a new Guide to Sound Practices for Hedge Fund Valuation. T...Read more

Calpers eyes raising investment to hedge funds-CIO
Mar 20/07
WASHINGTON, March 19 (Reuters) - The California Public Employees Retirement System, already a large investor in hedge funds, will likely raise its allocation to these loosely regulated portfolios in the next three years, a top...Read more

Yen exchange rate and hedge funds
Mar 20/07
The yen and hedge funds are at centre stage, but what will happen if China diversifies into holding the yen.  In an earlier article, I had referred to the large bets of hedge funds in the “carry trade”, estimated at around...Read more

Improve your understanding of hedge funds
Mar 20/07
Q: I'd like to learn more about hedge funds - how are they structured? A The notoriety of the hedge fund has increased markedly during the past five years. Once the reserved domain of extremely wealthy individuals and financial...Read more

Investing: Hedge funds: market angels or demons?
Mar 20/07
LOS ANGELES: Are hedge funds really the disruptive, destabilizing force their critics make them out to be? Or do these free-wheeling partnerships of wealthy and institutional investors actually reduce volatility and help make t...Read more

The “Gatekeeper” Approach to Hedge Fund Oversight
Mar 20/07
The “Gatekeeper” Approach to Hedge Fund Oversight Monitoring “Gatekeepers” Can Enhance Investor Protection and Reduce Systemic Risk March 19, 2007 – New York, NY – Hennessee Group LLC, an adviser to hedge f...Read more

Hedge Fund Assets Swelled 24% in 2006
Mar 20/07
Hedge fund assets rose 24% to $1.89 trillion in 2006, driven by new allocations and performance gains, a report showed on Monday. Hedge funds promise to deliver positive returns in all markets for a higher fee compared with mu...Read more

Hedge fund returns look unimpressive in new study
Mar 20/07
University of Texas finance professor John Griffin and Jin Xu (who works at Roger Ibbotson's Zebra Capital Management) have some bad news for proponents of hedge funds in their new paper How Smart Are the Smart Guys? (tip o' the...Read more

Hedge fund law eyed in New York state
Mar 20/07
Public pension plans in New York state would be allowed to invest in hedge funds and hedge funds of funds under the terms of a bill introduced in the state Assembly. The bill would require some level of transparency from any he...Read more

Market Fall Makes Fund of Hedge Fund Managers More Optimistic
Mar 20/07
The return of market volatility has made fund of hedge fund managers more optimistic about producing better-than-average returns over the next two quarters, according to Reuters. In its quarterly survey of the group, which repre...Read more

Hedge funds with $35 bln shut down in 2006
Mar 20/07
Amaranth, Archeus, Sagamore funds were biggest, survey finds SAN FRANCISCO (MarketWatch) -- U.S. hedge funds that once managed $35 billion shut down last year as more big firms ran into trouble, according to a survey released ...Read more

Hedge-fund envy
Mar 19/07
Mutual funds borrow a few ideas from hedge funds MUTUAL funds are the familiar, unexciting face of stockmarket capitalism, the financial product of choice for millions of investors. But a growing number of mutual-fund managers,...Read more

Credit Turbulence Puts Hedge Funds on the Spot
Mar 17/07
March 16 (Bloomberg) -- Are hedge funds really the disruptive, destabilizing force their critics make them out to be? Or do these free-wheeling partnerships of wealthy and institutional investors actu...Read more

Subprime Defaults to Soar, Hurt Lenders, Funds Say (Update1)
Mar 16/07
March 15 (Bloomberg) -- Harbinger Capital Partners and Paulson & Co., hedge-fund managers who profited when subprime- mortgage defaults surged, told investors that delinquent loans will soar and more lenders will disa...Read more

Hedge Funds, the Usual Suspects, Blamed for Volatility in Asia
Mar 16/07
The recent volatility and pullback in Asian markets have prompted some investors to sound a familiar refrain: It’s all the fault of the hedge funds. In the last two years, dozens of these funds have set up shop in Asia ho...Read more

Wall St Trade Groups See Big Harm From Hedge-Fund Disclosure
Mar 16/07
Two trade associations that count among its members Wall Street's biggest financial-services firms asked a judge Thursday to reconsider an order forcing hedge funds to disclose trading activity, saying it would do "serious...Read more

IOSCO Offers 9 Principles For Hedge Fund Valuation
Mar 16/07
The International Organization of Securities Commission has issued for a comment a report that offers nine principles for proper valuation of hedge funds – only days before the Alternative Investment Management Association is set...Read more

For Now Hedge Funds Not Deemed Homeland Security Issue
Mar 15/07
WASHINGTON (HedgeWorld.com)—The Senate declined to take up Sen. Charles Grassley's effort to attach a mandate for the registration of hedge funds to a homeland security bill last week, but his office said he'll continue his eff...Read more

Schneeweis: Monthly hedge fund data might be leading us astray
Mar 15/07
Thomas Schneeweis is an academic. So he views the primary benefits of managed accounts not as operational, but as analytical. He argues that daily and weekly return data (usually only available via a managed account) is superior...Read more

AIMA to Respond to IOSCO Consultation Report
Mar 15/07
London 14th March 2007. The Alternative Investment Management Association (AIMA), the leading global hedge fund and alternative investment industry association today announced that it will respond to new IOSCO valuation proposa...Read more

Funds of funds hold their own
Mar 14/07
Managers’ returns compare favourably with those of their directly invested rivals Private equity funds of funds can deliver comparable returns to buyout or venture funds. A report by Private Equity Intelligence suggests top-qua...Read more

IOSCO releases principles for the valuation of hedge fund portfolios
Mar 14/07
Regulators seek comment The International Organization of Securities Commissions has released for comment a paper that proposes principles for the valuation of hedge fund portfolios. The principles describe techniques which a...Read more

February 2007 Performance Review of Dow Hedge Fund Strategy Benchmarks
Mar 13/07
Five of the six hedge fund strategies covered by Dow Jones Hedge Fund Indexes posted net-of-fees gains in February 2007.With net-of-fees returns of 3.71%, merger arbitrage was once again the best performing strategy in February ...Read more

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