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Portus Investors Sue Law, Accounting Firms Over Fees | Oct 06/06 |
| Portus Alternative Asset Management Inc. investors sued two Toronto law firms and the accounting firm PricewaterhouseCoopers LLP, demanding the return of fees they received from the bankrupt Canadian hedge fund. Portus probably pa...Read more |
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What Endowments And Foundations Want | Oct 05/06 |
| The way to the heart of endowments and foundations appears to be far from outrageous returns from their hedge fund and private equity investments. According to a survey by Fidelity Investment unit Pyramis Global Advisors, these tw...Read more |
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Hedge funds pruned in '06 | Oct 05/06 |
| The $1.3 trillion hedge fund industry may be decelerating as less than half as many hedge funds have opened so far this year compared to a year ago, according to Chicago-based Hedge Fund Research and published reports. In the firs...Read more |
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Ontario Regulators May Propose Stricter Hedge Fund Rules Soon | Oct 05/06 |
| Oct. 5 (Bloomberg) -- Ontario securities regulators will probably propose stricter rules to regulate hedge funds within a ``few months,'' the provincial minister responsible for securities regulations said. Gerry Phillips, the min...Read more |
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Robson Capital Launches Everest Global Fund | Oct 04/06 |
| Robson Capital Management Inc.Jeffrey Shaul, President and CEO of Robson Capital Management Inc. of Toronto is pleased to announce the launch of the Robson Everest Global Fund, whose portfolio will be managed by Everest Capital. “...Read more |
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Man Group disclose Amaranth losses | Oct 04/06 |
| Man Group clients lost US$280 million in the Amaranth Advisors collapse, The Times of London reports, the largest losses publicly disclosed so far....Read more |
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Hedge funds and private equity to 'converge' | Oct 04/06 |
| Convergence between hedge funds and private equity has become the new status quo, according to "Crossing the line: the growing convergence of private equity and hedge funds," a report released today by ACG/Grant Thornton...Read more |
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Canadian Hedge Funds Should Be Regulated, Group Says | Oct 04/06 |
| (Bloomberg) -- Hedge funds in Canada should be regulated the same way as mutual funds to protect individual investors unfamiliar with their risks, says a task force that reviewed Canadian securities legislation. Hedge funds should...Read more |
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Report urges easier hedge fund access for Canadians | Oct 04/06 |
| Report urges easier hedge fund access for Canadians, but with regulatory protection akin to the mutual fund industryFrom the FT: A report on Canadian securities law reform has urged easier access to hedge funds for the investing p...Read more |
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BluMont unveils BluMont Equity Advantage Fund | Oct 03/06 |
| BluMont Capital today announced the launch of BluMont Equity Advantage Fund. The fund offers investors a unique opportunity to invest in funds managed by some of Canada’s top equity managers, including Salida Capital.The primary o...Read more |
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Offers expected for Portus | Oct 03/06 |
| Brokers warned against giving adviceVulture companies are circling, looking for cheap pickings from the remains of Portus Alternative Asset Management Inc.Portus bankruptcy trustee KPMG Inc. has warned Portus investors that over ...Read more |
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Canadians shrug off the Amaranth meltdown | Oct 02/06 |
| TORONTO - The problems of Amaranth Advisors LLC began in their country, but Canadians have taken them in stride.The Greenwich, Conn.-based hedge fund saw more than 60% of its assets vanish last month because of investments in nat...Read more |
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S&P continues to publishes monthly hedge fund benchmark return | Oct 02/06 |
| Standard & Poor’s, the leading provider of independent investment research, indices and ratings, today announced the following: In order to provide continuity for those who utilized the suspended S&P Hedge Fund Index as a ...Read more |
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Amaranth Suspends Redemptions | Oct 02/06 |
| Troubled hedge fund firm Amaranth is suspending redemptions until after Oct. 31 "with the goal of maximizing the proceeds of asset dispositions" the Greenwich, Conn.-based multi-strategy specialist said in a letter to in...Read more |
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Eurekahedge Announces Launch of Fund of Private Equity Funds and 2 Specialised Hedge Fund Databases | Oct 02/06 |
| SummaryEurekahedge announces the launch of three new alternative fund databases and directories on Fund of Private Equity Funds, Global CTA/Managed Futures Funds and Emerging Markets Funds. These new products have a global coverag...Read more |
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Amaranth Hires Fortress Investment to Sell Assets | Oct 01/06 |
| Oct. 1 (Bloomberg) -- Amaranth Advisors LLC, the hedge-fund manager that lost $6.5 billion betting on natural gas, hired Fortress Investment Group LLC to help sell assets as it seeks to honor clients' requests for their money back...Read more |
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BluMont director resigns | Sep 29/06 |
| William Train has resigned as a director of BluMont Capital, effective immediately. Train gave no reasons for his decision.Train was a member of the board's independent committee, which was created to review and consider a buyout ...Read more |
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Buffett Says Hedge Funds Are Older Than You Think | Sep 29/06 |
| Sept. 29 (Bloomberg) -- Wherever you travel on the information highway, look out for factoids. These tricky little creatures are bits of supposed knowledge that nobody has bothered to verify. They take on the aura of truth as they...Read more |
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Activist hedge funds under attack | Sep 29/06 |
| A kinder, gentler activist takes on the IR Magazine Canada Think Tank in TorontoTORONTO -- In a week when hedge funds have been under attack, Rob Kittel was brave to take part in IR magazine's Canada Think Tank yesterday. Around 5...Read more |
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Sears and Controversial Hedge Fund Managers | Sep 29/06 |
| HedgeCo.Net (New York) - Sears Holdings Corp, headed by hedge fund billionaire Edward Lampert, is trying to offer a controversial $908-million privatization bid for its subsidiary Sears Canada Inc.Sears is planning “seek leave to ...Read more |
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AIMA issues guidance note on hedge fund side letters | Sep 28/06 |
| AIMA, the global trade association for hedge funds has today published its Industry Guidance Note on the use of side letters. The Guidance Note offers clarification on a number of key issues which have been raised by the regulator...Read more |
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Pension funds undeterred by Amaranth | Sep 28/06 |
| GLOBAL - The massive losses incurred by Amaranth Advisors has not triggered a hedge fund sell off from large pension funds.Reports claimed many pension funds that suffered losses when Amaranth lost US$6bn - including the Pennsylva...Read more |
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Groups up ante on alternative investments | Sep 28/06 |
| Endowments and foundations plan to increase their already sizeable allocation to alternative investments, yet two-thirds of these organizations admit that it is difficult to measure and manage their risk, according to a survey of ...Read more |
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Canadian hedge fund shines with 95% YTD (through August) | Sep 28/06 |
| Toronto-based Rosseau Asset Management Ltd's Rosseau LP hedge fund continued its performance winning streak last month, raising its year-to-date return to more than 95% through August. The event-driven and special situations fund ...Read more |
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Lessons from Amaranth's $6-billion mistake | Sep 28/06 |
| Leverage, lack of diversification can be a dangerous combination.Sometimes the market zigs when an investor expects it to zag. It happens to most of us at one time or another. We buy a stock or fund units a day before they drop. O...Read more |
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Hedge fund math: Big paydays = big temptation | Sep 28/06 |
| The $1.2-trillion (U.S.) hedge fund industry must be sighing with relief. What ailed Amaranth doesn't appear to be ailing everyone else. It is obvious, surely, that Amaranth was utterly reckless in placing roulette-style bets -- b...Read more |
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Consultant Mercer Expanding Alt Capability | Sep 27/06 |
| Mercer Investment Consulting is expanding its alternative asset program, the company announced. The consultant said it is in the process of expanding its alternative investment unit from six people at the start of 2006 to 12 by ye...Read more |
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Hedge funds flaming out- Savoy latest casualty? | Sep 27/06 |
| Hedge funds operating in the frothier parts of the market continue to show signs of distress, and the latest Canadian casualty appears to be Savoy Capital Management, run by well-known Calgary-based stock picker Gene Vollendorf.Wh...Read more |
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Fund of funds: Pay a big price for a bit of safety | Sep 27/06 |
| A $10-billion (U.S.) hedge fund nearly collapses, and the story dominates the financial news for a solid week. A cloud hangs over the hedge industry. You'd think that would be an unhappy turn of events for Canada's chief hedge fun...Read more |
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Nymex Warned Amaranth in August on Trades, People Say | Sep 27/06 |
| Sept. 27 (Bloomberg) -- The New York Mercantile Exchange told Amaranth Advisors LLC that the hedge fund's natural gas bets were too big a month before the trades led to a $6 billion loss, said two people with knowledge of the meet...Read more |
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Amaranth Investors May Not See Money Soon | Sep 26/06 |
| Investors in troubled hedge fund Amaranth could have their money locked up for some time. According to a report by Financial News, the Greenwich-based fund has stringent restrictions on redeeming capital, including a limit of 7.5%...Read more |
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Stronger due diligence will come: hedge fund panel | Sep 26/06 |
| Institutional investors will demand more transparency Tuesday, September 26, 2006 By James LangtonAs more money is expected to flow into hedge funds, institutional investors will focus on implementing stronger due diligence capabi...Read more |
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Leeward Takes 15% Stake in DuelEx | Sep 25/06 |
| Leeward Hedge Funds Inc. now controls nearly 15% of DuelEx Energy, the Toronto-based investment firm said Thursday. Leeward now has direction over nearly 6.9 million shares of the company, or about 14.9% of its shares outstanding....Read more |
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Judge gives green light to Norbourg class action | Sep 25/06 |
| OTTAWA - Investor anger in Canada can be expressed in outrageous fashion. At Toronto's Gay Pride Parade last month, investor activist Nicole Dawson kissed her girlfriend for 30 minutes in protest against the abuse of investors. T...Read more |
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Amaranth May Make Goldman, Morgan Biggest Winners | Sep 25/06 |
| Goldman Sachs Group Inc. and Morgan Stanley, the Wall Street giants that sell more of everything from stocks and bonds to risk-analysis software to the burgeoning hedge fund industry, may be the biggest winners after Amaranth Advi...Read more |
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Man offers new Canadian hedge fund | Sep 25/06 |
| Man Investments Canada is now offering the Man AHL Diversified (Canada) Fund, a managed-futures product for accredited, private-client and institutional investors. The fund structure provides access to the AHL Diversified Programm...Read more |
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Canadian Debt Securities Available in Europe | Sep 25/06 |
| TORONTO (HedgeWorld.com)—Multi-dealer to online debt securities trading firm CanDeal has partnered with online fixed-income trading network Thomson TradeWeb to offer European institutional investors online access to Canadian debt ...Read more |
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Mosaid, Loeb Reach Board Compromise | Sep 25/06 |
| OTTAWA, Ontario (HedgeWorld.com)—Mosaid Technologies Inc. and the hedge fund that had nominated a challenge slate for its board of directors reached a compromise at the last minute Friday [Sept. 22], expanding the size of the boar...Read more |
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Amaranth's assets slashed by 65% | Sep 22/06 |
| U.S. hedge fund's natural gas trading fiasco may have cost $6-billion, CEO concedesPAUL WALDIE Troubled hedge fund company Amaranth Advisors LLC lost as much as $6-billion (U.S.) last week, cutting the value of its assets by more ...Read more |
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Forbes: 400 richest Americans all billionaires, 14 hedge fund names among top 374 | Sep 22/06 |
| Forbes Says 400 Richest Americans All Billionaires (Update1) By Margot HabibySept. 21 (Bloomberg) -- The 400 richest people in the U.S. are all billionaires for the first time ever this year, according to Forbes Magazine's annual ...Read more |
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Hedge Funds Withdraw SEC Registrations After Court Rejects Rule | Sep 22/06 |
| By Jesse WestbrookSept. 22 (Bloomberg) -- Hedge funds are reducing the information they provide regulators after a court said the U.S. Securities and Exchange Commission can't enforce a rule that required more disclosure by the in...Read more |
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Amaranth Losses Swell to $6 Billion After Transfer | Sep 22/06 |
| By Katherine Burton and Justin BaerSept. 21 (Bloomberg) -- Amaranth Advisors LLC, the hedge- fund company that imploded after wrong-way bets on natural gas, said losses swelled by $1.4 billion this week because the firm had to unl...Read more |
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Caisse Won't Cut Hedge-Fund Holdings After Amaranth, Chief Says | Sep 22/06 |
| Sept. 22 (Bloomberg) -- Caisse de Depot et Placement du Quebec, a Canadian pension fund that invested with Amaranth Advisors LLC, doesn't plan to cut its holdings in hedge funds, the chief executive officer said. ``We don't need t...Read more |
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Mosaid avoids proxy fight; makes deal with hedge fund | Sep 22/06 |
| Intellectual property (IP) provider Mosaid Technologies Inc. struck a deal with an activist hedge fund Friday (Sept. 22), ultimately preventing proxy fight, according to reports. Mosaid agreed to expand its board to 10 directors —...Read more |
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On eve of loss, Amaranth planned new energy fund | Sep 21/06 |
| The head of Amaranth Advisors LLC was so proud of its natural gas trading strategy that he told investors a few weeks ago the hedge fund had directed 56 per cent of its capital into energy investments and planned to start a new en...Read more |
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Amaranth losses swell | Sep 21/06 |
| Amaranth Advisors LLC has increased the estimate of its losses to about $6-billion (U.S.) since the start of the month, the hedge fund said late Wednesday, making it one of the largest hedge-fund losses in history.The losses come ...Read more |
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Blumont reviewing exchange offer from principal shareholder | Sep 21/06 |
| Firm’s advisor suggests IAM offer financially inadequate Thursday, September 21, 2006 By IE StaffBluMont Capital Inc. is reviewing an offer by its principal shareholder, Integrated Asset Management Corp., to acquire all outstandi...Read more |
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Hedge fund manager steers clear of natural gas | Sep 20/06 |
| Van Eck looks to strike big on gold pricesANGELA BARNES INVESTMENT REPORTERNot every hedge fund manager is betting the farm on natural gas.New York-based Van Eck Global Absolute Return Advisers Corp. certainly isn't. The company, ...Read more |
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Amaranth Updates | Sep 20/06 |
| Amaranth Hedge-Fund Losses Hit 3M, San Diego County (Update1) By Jenny StrasburgSept. 20 (Bloomberg) -- Amaranth Advisors LLC, the hedge fund that lost about $4.6 billion in the past month, has left 3M Co., San Diego County's reti...Read more |
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Hedge fund losses? Greedy investors? What else is new? | Sep 20/06 |
| A month ago, Brian Hunter was one of the hottest energy traders in Calgary. Today he's a walking cliché. When an investor blows up in spectacular fashion, the scrutiny gets personal. So on Bay Street yesterday, people enjoyed a mo...Read more |
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