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Pension Plans Pushing Hedge Funds To Change | Dec 18/06 |
| Like it or not, hedge funds are going to have to adapt to changes brought about by greater investment by pension plans – or else. Pensions plans, in fact, are going to have a profound impact on the financial services industry, as ...Read more |
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Little Guy Protected, But Not Little Hedge Funds | Dec 18/06 |
| The proposed accredited-investor changes may have a devastating impact on small and start-up hedge funds even as their larger brethren remain unscathed by the changes, The New York Times suggests. With the proposed standard increa...Read more |
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AIMA Nods in Agreement With Industry's Stance on use of Non-Public Information | Dec 18/06 |
| Hedgeweek reports that the Alternative Investment Management Association has welcomed a joint statement on the communication and use of material non-public information from a number of leading financial investment industry trade o...Read more |
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Hedge Funds Post Solid Returns in November | Dec 18/06 |
| Greenwich Global Hedge Fund Index (the "Index") returned +2.04% in November (+10.54% YTD), according to hedge fund index provider Greenwich Alternative Investments, LLC. All four of the firms major strategy groups have p...Read more |
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Will 2007 be year of the hedge? | Dec 18/06 |
| Canada's fledgling hedge fund industry has its fingers crossed that 2007 may finally mark a breakthrough with the elusive retail investor. "There will be some attention given to alternatives," said Jeffrey Shaul, the fou...Read more |
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Putting trillions of FX reserves to work could be best way to teach central banks about hedge funds | Dec 18/06 |
| Andrew Rozano, senior manager at State Street Global Advisors, writes in the WSJ: Central bankers have never had a comfortable relationship with hedge funds. George Soros infamously "broke" the Bank of England in 1992, w...Read more |
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More not-for-profit organizations seek higher returns | Dec 18/06 |
| CHICAGO--(BUSINESS WIRE)--Alternative investments, such as hedge funds, private equity funds and real estate funds, can often offer higher returns than traditional returns but also come with higher risk. Over the past several year...Read more |
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Investors Find Pot of Gold at the End of Your Life | Dec 17/06 |
| Marvin Margolis, 80, a Manhattan financial consultant, is looking for investors willing to bet on when he will die.Two years ago, Margolis bought a large life-insurance policy. Now, he's considering selling it to a group of invest...Read more |
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Portus plan awaits approval | Dec 15/06 |
| Investors in Portus Alternative Asset Management Inc. should have a better idea today how they will be taxed after receiving distributions from the trustee of the now-defunct hedge fund. KPMG Inc., the Portus bankruptcy trustee, t...Read more |
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Goldman Moves Spilker to Oversee Hedge Funds, Buyouts | Dec 15/06 |
| (Bloomberg) -- Goldman Sachs Group Inc., the most profitable investment bank in Wall Street history, named Marc Spilker to oversee its team of money managers that invest in hedge funds and private equity funds. Spilker, 42, will r...Read more |
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RBC Hedge Index: Steady as She Goes | Dec 15/06 |
| NEW YORK (HedgeWorld.com)—November saw the investable RBC Hedge 250 index maintain its October momentum, posting an estimated 1.6% return for the past month while finalizing its October result at 1.57%. Most of the thanks go to th...Read more |
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Hedge funds continue to deregister | Dec 15/06 |
| Dozens of hedge-fund advisers have pulled their registration with the Securities and Exchange Commission in the last three months, according to SEC statistics gathered as of Dec. 7, according to published reports.This is not neces...Read more |
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Revised Hedge Fund Limits May Have Limited Impact | Dec 14/06 |
| What impact will revising hedge fund investor limits have? Nothing much positive, suggests Amit Chokshi of London-based Orgtel Finance. Writing on Seeking Alpha, Chokshi says rewriting the accredited-investor rule by the Securitie...Read more |
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Art Fact: Museums Look To Draw Hedge Fund Money | Dec 14/06 |
| Museums have been paying close attention to recent reports of hedge fund managers spending habits, and they know hedgies have a thing for fine art. The next logical step, then, is for institutions such as Lincoln Center, the Whitn...Read more |
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Hardly A Cause For A Sell-abration | Dec 14/06 |
| News that Citadel Investment Group was going to pay $75,000 to gain access to hedge fund information through a PlusFunds Group database has drawn the ire and raised the blood pressure of many a hedgie whose trading histories looke...Read more |
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Hedge Funds Care Cayman Raises $250.000 for Charity | Dec 14/06 |
| (New York) - Hedge Funds Care Cayman held its second annual black tie dinner, Open Your Heart to the Children Benefit, at the Ritz–Carlton last month, raising more than US$250,000. Last November, the inaugural benefit dinner raise...Read more |
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Hedge Fund “Shakeout” Among Prognostications at 2007 Business Forecast | Dec 14/06 |
| Be prepared in 2007 for the “shakeout, scandal, and perhaps regulation” of hedge funds, Austan Goolsbee, Robert P. Gwinn Professor Economics, told nearly 1,000 alumni and friends of Chicago GSB at the 2007 annual Business Forecast...Read more |
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Hedge Fund Misconduct and Due Diligence: Protecting Yourself | Dec 13/06 |
| Harry S Davis1 , Sahar ShiraziSchulte Roth & Zabel LLP In the last five years, there has been a spate of high-profile enforcement actions against hedge funds by the US Securities and Exchange Commission (“SEC” or “Commission”)...Read more |
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Convertible Grunge | Dec 13/06 |
| Kurt Cobain must be spinning in his grave. Earlier this year, a hedge fund–backed music-publishing company, Primary Wave, negotiated a deal to buy a 25 percent stake in Nirvana's catalog, giving it the right to license the band's ...Read more |
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ECB Urges Int’l Hedge Fund Registry | Dec 13/06 |
| The European Central Bank is urging the establishment of an international hedge fund registry to help thwart any possible market meltdowns brought on by the ever-growing HF industry. With the release of the ECB’s semiannual stabil...Read more |
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Portus Trustee Readies to Disburse Funds | Dec 13/06 |
| The trustee for defunct Canadian hedge fund firm Portus Alternative Asset Management is preparing to pay back some of the investors in the ill-fated fund. According to documents filed last week in an Ontario Superior Court by rece...Read more |
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Hedge funds continue to trail S&P500 in 2006, says Hennessee | Dec 13/06 |
| Despite an average return across strategies of 1.84 per cent in November, hedge fund performance continues to trail the US equity market so far in 2006, according to the advisory firm that calculates the Hennessee Hedge Fund Index...Read more |
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JOINT STATEMENT ON MATERIAL NONPUBLIC INFORMATION | Dec 13/06 |
| London, 13th December. The Alternative Investment Management Association (AIMA), the leading global trade association for hedge funds, today welcomed the Joint Statement on the communication and use of Material Nonpublic Informati...Read more |
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Standard & Poor's assigns AA- long-term and A-1+ short-term credit ratings to RBC Dexia Investor Ser | Dec 13/06 |
| Standard & Poor's Ratings Services has assigned RBC Dexia Investor Services Ltd. its 'AA-' long-term and 'A-1+' short-term counterparty credit ratings. This represents the first rating from Standard & Poor's for RBC Dexia...Read more |
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India to Overtake China's Growth, Credit Suisse Says | Dec 13/06 |
| (Bloomberg) -- India will overtake China next year as the world's fastest-growing major economy on rising consumer and government spending, Credit Suisse's chief Asia economist Dong Tao said. Credit Suisse raised its 2007 growth f...Read more |
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Another Multi-Strategy Hedge Fund Enigma | Dec 13/06 |
| If you're debating making a hedge fund investment in 2007, make sure to avoid funds coined "multi-strategy" products.Multi-strategy hedge funds are the "Wild West" of the industry. That's because the investment...Read more |
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What Price Hedge Fund Lock-Ups? 130 Basis Points Per Year | Dec 13/06 |
| GENEVA (HedgeWorld.com)—You want to invest in a particular hedge fund, but are concerned by its three-year lock-up. "Do they really need to tie my money up for three years," you ask yourself, "and if they do, what d...Read more |
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Global's Fof F ranked among the world's top | Dec 12/06 |
| For the second consecutive year, Eurekahedge ranked the Global Distressed fund among the world's top ten from a list comprised of over 1300 competitors.Mr. Hani AlJazzaf, Head of Hedge Funds Division at Global, said that Eurekahed...Read more |
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Hedge funds market to hit $1t | Dec 12/06 |
| THE global institutional investor capital in hedge funds will increase from around $360 billion to over $1 trillion in 2010, according to a leading financial institution. Institutional investors will account for more than 50 per c...Read more |
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Relatively permanent | Dec 12/06 |
| By listing hedge funds and funds of hedge funds, managers are often said to be gaining access to "permanent capital". This overstates the case. Without a listing, the money backing hedge funds is "temporary", i...Read more |
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Man Investments takes full control of hedge fund | Dec 12/06 |
| Man Investments Canada has announced that it assumed the role of successor manager of the Man Multi-Strategy (Canada) Fund from BluMont Capital. Man purchased the fund, previously known as the BluMont Man Multi-Strategy Fund, from...Read more |
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AIMA`s yearly look at hedge funds | Dec 11/06 |
| AIMA, the global trade association for hedge funds assesses the highs and lows of 2006 and looks forward to 2007. With 2007 nearly upon us, AIMA highlights the events of 2006 and considers what next year holds in store for the hed...Read more |
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Goldman hires Amaranth team as the Street woos hedge fund | Dec 11/06 |
| From the WSJ: In another sign of Wall Street's intense interest in hedge funds, brokerage firm Goldman Sachs Group Inc. is hiring 17 members of the team that traded credit for the now-defunct Amaranth Advisors LLC, according to pe...Read more |
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For Better Or Worse, HFs Are Now Icons | Dec 11/06 |
| It is flattering that hedge funds have become so popular that they are popping up, at least in name, in areas outside the financial industry, though not always in best light. As noted here, hedge funds (or at least a character who...Read more |
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Nov. Pumps Up Another Two HF Indices | Dec 11/06 |
| The HFN Hedge Fund Aggregate Average is poised to finish 2006 as the best year in the last three, thanks to an unusually strong November. The average climbed 2.18% last month, bringing its year-to-date total to 10.65%, well ahead ...Read more |
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The Numbers Adding Up For 130/30 Funds | Dec 11/06 |
| These are boom times for the so-called 130/30 funds, the long/short instruments that are sweeping the financial services industry and raking in billions. The funds, whose 130% refer to the percentage of a portfolio in long positio...Read more |
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Hedge funds best S&P 500 in November | Dec 11/06 |
| Hedge funds surpassed the Standard & Poor's 500 in November for the first time since May, in a month that saw a declining dollar, falling bond yields and an up tick in energy prices.The Hennessee Hedge Fund Index advanced 1.84...Read more |
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Hedge Fund Opposes Proposed $25.9 Billion Offer for Phelps Dodge | Dec 11/06 |
| PHOENIX (AP) - A hedge fund with a 5.1 percent stake in Phelps Dodge Corp. plans to vote against a proposed $25.9 billion takeover of the mining company by Freeport-McMoRan, saying the offer does not fairly value Phelps Dodge.SAC ...Read more |
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Marshall Wace Raises EU1.5 Billion in Hedge Fund IPO | Dec 08/06 |
| (Bloomberg) -- Marshall Wace LLP raised 1.5 billion euros ($2 billion) in the largest initial public offering of a hedge fund, permitting individual investors to buy into a market normally limited to millionaires. The London-based...Read more |
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Goldman Sachs Flagship Hedge Fund Falls 11.6 Percent | Dec 08/06 |
| (Bloomberg) -- Goldman Sachs Group Inc.'s $10 billion flagship hedge fund dropped 11.6 percent this year through the end of November, extending earlier losses as its managers misjudged the direction of global stock and currency ma...Read more |
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Amaranth’s Golden Goose That Laid An Egg | Dec 07/06 |
| Amaranth Advisors has paid the price for putting a lot of its eggs in one basket in more ways than one. The Connecticut-based firm that famously lost $6.6 billion not only kept too much of its bets in energy at the wrong time, but...Read more |
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Man: More Challenges Ahead For HFs | Dec 07/06 |
| Low market volatility will continue to present “significant challenges” in 2007, according to Man Investments’ annual review and preview of the hedge fund industry. Market volatility is “still close to multi-year lows in almost al...Read more |
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FinLab upgrades PackHedge software for professional fund investors | Dec 07/06 |
| Geneva-based software provider FinLab has released its latest version of its PackHedge product designed for investment professionals in the hedge fund industry.FinLab provides software products and services to investment professio...Read more |
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AGF tops second EDHEC French funds of hedge funds rankings | Dec 06/06 |
| AGF Alternative Asset Management has topped the fund of hedge fund rankings produced by French business School EDHEC for the second year running, with joint second place being taken by another management company from the same grou...Read more |
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Amaranth's $6.6 Billion Slide Began With Trader's Bid to Quit | Dec 06/06 |
| (Bloomberg) -- Nicholas Maounis, founder of the Amaranth Advisors LLC hedge fund, made a decision in April 2005 that eventually cost him his firm. His promising natural-gas trader, Brian Hunter, had been offered a $1 million bonus...Read more |
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Hedge Fund Replication Not in Cards For Dow Jones | Dec 06/06 |
| Contrary to reports, Dow Jones Indexes is not planning to launch an investable index tracker designed to mimic the behavior of a variety of hedge fund strategies. Naomi Kim, a representative from DJ Indexes, said quotes from John ...Read more |
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Ivy and Crédit Suisse suffer losses | Dec 06/06 |
| NEW YORK: Ivy Asset Management, a fund of hedge fund and alternative investment manager with some $14bn assets under management, has suffered huge redemptions due to its investment in Amaranth, according to an HFMWeek source.When ...Read more |
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Lock-ups and Redemptions Create Financing Need | Dec 06/06 |
| NEW YORK (HedgeWorld.com)—A trend toward longer-term lock-ups of capital by hedge fund managers has led to a demand for bridge loans to facilitate withdrawals by investors. The need arises in particular from a timing discrepancy b...Read more |
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Hedge Funds Rise In November, But Not Enough | Dec 06/06 |
| Another month, another hedge-fund beating at the hands of the Standard & Poor�s 500. According to Hedge Fund Research's HFRX global and strategy indices, hedge funds didn't lose by much: The HFRX Global Hedge Fund Index...Read more |
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Mutual Fund Growth Creates Opportunities for Data Providers | Dec 06/06 |
| NEW YORK (HedgeWorld.com)—New market trends, particularly the search for alpha, have forced mutual funds to operate in a more complex environment than they did two decades ago, contributing to a greater reliance on market data sup...Read more |
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