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General News

BluMont Capital Announces Executive Appointment
Nov 20/06
TORONTO, ONTARIO -- (MARKET WIRE) -- 11/20/06 -- BluMont Capital Inc. (TSX VENTURE: BCC) is pleased to announce the appointment of Stephen J. Kangas as Chief Executive Officer, effective immediately. Mr. Kangas has been with the C...Read more

Sprott Foundation donates new truck to Toronto food charity
Nov 20/06
Second Harvest committed to bringing fresh food to social service programs.  By  IE Staff. Eric Sprott, CEO of Sprott Asset Management Inc., through the Sprott Foundation has offered his support to Toronto-based charity Second Har...Read more

"Hedge Funders have a thorn in their side": Hedge Fund TV Series writer talks
Nov 17/06
Now that he's shown America what Hollywood is really like, "Entourage" creator Doug Ellin is setting his satirical sights on hedge funds. In October, HBO said it is developing Ellin's newest series, which he describes as...Read more

FoHFs Will Need To Change To Keep Share
Nov 16/06
As institutional investors become more confident and bolder about hedge funds, the more they’re going to invest in the vehicle directly, says consultant Kevin Quirk, and that may not bode well for funds of hedge funds. Speaking on...Read more

Sears profits on hedge fund tack
Nov 16/06
Big 3rd-quarter gains despite revenue drop.Has billionaire investor Edward Lampert finally turned Sears Holdings Corp., one of the nation's oldest retailers, into a hedge fund?Not quite.But the prominent investor, who runs his own...Read more

Butterfield Fund Services to open in Halifax, Canada
Nov 16/06
The Bank of N.T. Butterfield & Son Limited of Bermuda announced yesterday that its Fund Services division will open a fund administration centre in Halifax, Canada. Operating as Butterfield Fund Services (Canada) Limited, the ...Read more

'Borat' sparks more hedge fund deals
Nov 15/06
20th Century Fox is set to announce a hedge fund-backed film financing deal worth more than $520m thanks to the box office success of Borat and The Devil Wears Prada.The agreement, which comes amid increasing hedge fund and privat...Read more

Investors eye more direct hedge fund path-consultant
Nov 15/06
GENEVA (Reuters) - Funds of hedge funds are likely to change how they operate and offer more tailor-made advice as institutional clients become more confident about investing directly in the $1.7 trillion (900 billion pounds) hedg...Read more

Many hedge fund returns do not justify fees
Nov 15/06
GENEVA (Reuters) - While hedge funds charge high fees, too many of them earn modest investment returns, and the majority do not deliver better rewards than can be gained from the wider market, industry executives said on Tuesday.&...Read more

Longer hedge fund lockups seen posing risk
Nov 15/06
GENEVA (Reuters) - Investors may want to quickly pull out of hedge funds if global economic conditions turn sour, showing the risks of a recent trend of contracts tying clients into funds for long periods, industry executives warn...Read more

RBC Hedge 250 Index(R) returned 1.54 per cent in October 2006
Nov 15/06
Year-to-date performance is 7.34 per cent.NEW YORK, Nov. 15 /PRNewswire-FirstCall/ - RBC Capital Markets today reported that for the month of October 2006 the RBC Hedge 250 Index® had a net return of 1.54 per cent. This brings the...Read more

Does your hedge fund umbrella work in the rain?
Nov 14/06
The case for hedge funds is a strong one. The upside of broader mandates, strategy diversification, risk reduction, downside protection and yield enhancement offered by hedge funds has been too attractive to ignore.Research has sh...Read more

Fund Performance no Justification For Fees
Nov 14/06
A lot of hedge funds have no right charging such high fees, Reuters said an industry cabal noted Tuesday. Industry personnel at the Global Alternative Investment Management conference held in New York also said the bulk of the ass...Read more

Hedging his bets on performance
Nov 13/06
But other advisors more cautious on hedge fund liabilityAccording to hedge fund aficionado Miklos Nagy, hedge funds have a place in client portfolios -- but if it's anything less than a 10% weighting, "you may as well not bot...Read more

SEC to Press More Hedge-Fund Cases, Thomsen Says
Nov 13/06
Nov. 13 (Bloomberg) -- The U.S. Securities and Exchange Commission expects to file more enforcement actions against hedge funds over illegal trading and violations of client trust, the agency's head of enforcement said. The SEC is...Read more

Hedge fund assets rise in Q3
Nov 13/06
Total hedge fund assets rose 3.53% to $1.786 trillion in the third quarter, HedgeFund.net estimates released today show.Net new assets allocated to hedge funds increased an estimated $51.5 billion. While less than the two prior qu...Read more

IAM increases stake in BluMont
Nov 13/06
Integrated Asset Management has announced its intention to purchase an additional 1.8 million common shares of BluMont Capital, in addition to the 3.2 million shares the firm purchased last month.The new purchase will give IAM own...Read more

DJI plans hedge fund 'clone' launch
Nov 13/06
Dow Jones Indexes is in talks to launch the world's first investable index trackers designed to mimic the behaviour of a range of hedge fund strategies.The artificial trackers would potentially allow investors to access the return...Read more

Canadian Hedge Fund Industry raises more than $150,000 at 3rd Annual Hedge Funds Care Canada Gala
Nov 13/06
TORONTO, Nov. 13 /CNW/ - Canada's hedge fund industry rallied in support of the treatment and prevention of child maltreatment last Thursday, raising north of C$150,000 for Toronto-based foundations that help prevent child a...Read more

Praise, Caution in Hedge Fund Speeches
Nov 13/06
TORONTO (HedgeWorld.com)—Maybe he was playing to his audience, but David Longworth, deputy governor of the Bank of Canada, the nation's central bank, had some very nice things to say about hedge funds at a speech before the World ...Read more

OSC has lots of work to do, chair concedes
Nov 10/06
Income trusts, hedge funds and enforcement are just a few of the pressing issues in the securities industry regulators need to tackle, says the chair of the Ontario Securities Commission. David Wilson spoke Friday at the annual Di...Read more

Hedge Funds Appear More Listing-Friendly
Nov 10/06
In what some are calling an unusual twist, it appears that hedge funds listing on stock exchanges may be getting a better reception than private equity funds, which started the trend. The New York Times reports that hedge fund Bou...Read more

Fortis Investments, Cadogan to Merge Hedge Fund Units
Nov 10/06
Nov. 10 (Bloomberg) -- Fortis, Belgium's biggest financial- services company, bought 70 percent of Cadogan Management LLC to create a hedge-fund management business with about $3.7 billion in assets. The new entity, which will ret...Read more

Long/Short Mutual Funds Make Pitch For HF Investors
Nov 09/06
Though not likely yet a threat to the hedge fund industry, long/short equity mutual funds are growing like weeds, and may some day rival the real thing. Citing figures from Financial Research Corp., Barron’s reports there are now ...Read more

Bank of Canada applauds hedge funds
Nov 09/06
The embattled hedge fund industry received a ringing endorsement from an unlikely source yesterday -- the Bank of Canada."Hedge funds have had a largely positive impact on the efficiency of financial markets in Canada," ...Read more

Mutual funds feel the squeeze
Nov 09/06
Canada's high-priced mutual funds are being attacked from two directions -- by even higher-priced actively managed "hedge" funds and by low-priced exchange-traded funds, or ETFs.At the World Hedge Fund Summit -- which co...Read more

World hedgies not in awe of cosmopolitan life on offer in Toronto
Nov 09/06
Something billed as the "World Hedge Fund Summit" was being held this week. An annual affair, it is run by a group called Canadian Hedge Watch Inc. and its website offers up an array of heavy metal backers -- platinum, g...Read more

Canada's Longworth Says Hedge Funds Benefit Markets
Nov 08/06
Nov. 8 (Bloomberg) -- Hedge funds make Canadian securities easier to trade and allow investors to better manage risk by reducing price swings that aren't tied to changes in the economy, Bank of Canada Deputy Governor David Longwor...Read more

More rules for hedge funds 'not necessary'
Nov 08/06
Contrary to popular belief, the hedge fund industry in Canada is already well regulated, says Paul Moore, vice-chair of the Ontario Securities Commission.However, "that doesn't mean we can't or won't do any additional things,...Read more

Bank of Canada: hedge funds positive for markets
Nov 08/06
VAUGHAN, Ontario (Reuters) - Bank of Canada Deputy Governor David Longworth said on Wednesday that hedge funds have a largely positive impact on financial markets and any risks they might pose are under control for now. "Hedg...Read more

Sextant hires business development vp
Nov 07/06
Deacon experienced in technical research, compliance and sales.Sextant Capital Management, a specialty hedge fund focused on exotic minerals and resource-based commodities, today announced the appointment of Peter Deacon as vp, bu...Read more

S&P: Minimal Monitoring Of Alternatives
Nov 06/06
Considering all the flak alternative investments get for being so risky, it is somewhat shocking to learn that a scant number of asset managers surveyed actually monitor the discretionary use of them. According to a Standard &...Read more

How-to series For Dummies has added a hedge fund title.
Nov 06/06
The publisher released Hedge Funds For Dummies this week. The 360-page book is now on sale for $16.49 at Amazon.com. Ann C. Logue authored the book. Logue is a freelance writer who has written for The New York Times and Newsweek. ...Read more

When The Hedge Fund Feeling Is Mutual
Nov 03/06
It’s getting a little dicey out there in the mutual fund/hedge fund universe. For a while now, mutual funds have been offering hedge-like products, while some mutual fund managers have been left the sector for the greener pastures...Read more

Expecting too much from hedge funds
Nov 02/06
The massive losses suffered by Amaranth Advisors, coupled with the remarkable fall from grace of Vega Asset Management, has forced investors to focus hard on the risks associated with hedge fund investment.The Amaranth debacle beg...Read more

Fear Of Hedge Funds Strikes Canadian Senators
Nov 02/06
Whatever Canadian senators heard at marathon meetings about hedge funds in New York last month, it sure has gotten them to jump into action. That two-day fact-finding trip has led to three days of hearings in Ottawa that focus on ...Read more

Canadian hedge fund Industry rallies in support of prevention and treatment of child abuse
Nov 02/06
3rd Annual Hedge Funds Care Canada GalaMore than 150 hedge fund professionals are expected to wine, dine and mingle at the Sutton Place Hotel’s exclusive Stop 33 top-floor lounge on Thursday November 9 in support of Hedge Funds Ca...Read more

Morningstar profit jumps 80 percent
Nov 02/06
Morningstar Inc., the U.S. company best known for its mutual-fund ratings, said third-quarter earnings jumped 80 percent on acquisitions and revenue from international units.Net income increased to $13.5 million, or 29 cents a sha...Read more

Stronach defeats hedge fund bid
Nov 01/06
Magna boss wins one for management as Greenlight loses legal effort to interveneFrank Stronach has defeated a bid by Greenlight Capital Inc. to force him to overhaul his real estate and gambling operations in one of the few victor...Read more

Scrutiny for hedge funds
Nov 01/06
Spurred on by concerns voiced by U.S. regulators, a committee of Canadian senators is set to begin probing the murky world of hedge funds and their effect on the economy and investors.The Senate's standing committee on banking, tr...Read more

Ottawa committee to study hedge fund industry
Nov 01/06
A parliamentary committee will today begin studying the hedge fund industry, just a few weeks after a private sector task force proposed new regulations that would make the higher-risk funds more accessible to retail investors. Th...Read more

Man Group Underwrites a Prize
Nov 01/06
HONG KONG (HedgeWorld.com)—With an aim of honoring creative writing of the sort not found in forward statements, the new Man Asian Literary Prize opened for entries today. Aiming to highlight Asia's increasing contribution to worl...Read more

Cerberus's Snow Says `Lighter' Regulation Best for Hedge Funds
Oct 31/06
Oct. 31 (Bloomberg) -- John Snow, the former U.S. Treasury secretary named chairman of Cerberus Capital Management LP this month, said investors, not policy makers, are the best regulators of hedge funds. Snow, who left George W. ...Read more

Bubble, Bubble Hedge Funds In Trouble
Oct 31/06
Trouble is bubbling up for two more hedge funds. First, hot on the heels of Amaranth Advisors meltdown comes word that a New York-based hedge fund is calling it quits, but not because of an energy-bet blowout. According to The New...Read more

Hedge Fund Study Reveals Increasing Trend Toward Outsourcing
Oct 31/06
NEW YORK--(BUSINESS WIRE)--Paladyne Systems, a leading provider of alternative investment solutions, today released a paper investigating the growing trend toward outsourcing within the hedge fund industry and identifies a number ...Read more

Man Investments posts double digit growth to lead Alpha Magazine's Fund of Funds 50
Oct 30/06
London-based Man Investments unseats UBS to take top honors in Alpha magazine’s Fund of Funds 50, the fifth annual ranking of the world’s biggest multimanager hedge fund firms.New York, NY (PRWEB via PRWeb Direct) October 30, 2006...Read more

Ex-RBC brokers cited in Norshield saga
Oct 29/06
MONTREAL — The tangled web in the financial scandal at collapsed hedge-fund firm Norshield Asset Management (Canada) Ltd. has widened to include allegations that two RBC Dominion Securities Inc. investment brokers were directly co...Read more

AIMA Announced New Global Council
Oct 28/06
LONDON (HedgeWorld.com)—The Alternative Investment Management Association named the members of its council, the body responsible for global strategy, just elected or reelected for their two-year term. Christopher Fawcett, the chai...Read more

Hedge funds for the masses
Oct 27/06
What's good for institutions may not benefit public.In its campaign to take hedge funds to the common man, the industry often invokes the fact that well-known pension funds use their product to diversify risks. In this context, a ...Read more

Hedge fund fun for everyone
Oct 27/06
 From the October 9--22, 2006 issue of Canadian Business magazineRegular investors after a piece of the supersize returns that hedge funds boast of should be allowed to put their money in the popular investments. That's one of the...Read more

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