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Today is Friday, January 27, 2012 at
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BNP Expands Hedge Fund Administrative ArmToday, January 27, 2012 : PermalinkNew York (HedgeCo.net)- BNP Paribas is rolling-out a major investment program to expand its hedge fund and fund of hedge fund administration services, for both UCITs and offshore funds. “As the hedge fund industry becomes more institutional-investor focused, hedge fund managers’ administration requirements will continue to evolve.” Chris Adams, who was recently appointed Head of Hedge Fund [...] Hedge Fund People Moves: Steven Solmonson Joins Spectrum Asset ManagementToday, January 27, 2012 : PermalinkNew York (HedgeCo.net) – Senior hedge fund professional Steven Solmonson has joined $13.4 billion securities firm Spectrum Asset Management, Inc. “Steven and I have known each other for more than 30 years, having worked together at Drexel Burnham Lambert where we launched DBL Preferred Advisory Management in 1982.” Mark Lieb, founder and CEO of Spectrum Asset Management, [...] Cayman Hedge Fund Launches New York OfficeYesterday, January 26, 2012 : PermalinkNew York (HedgeCo.net) – Cayman Island based hedge fund Trinity Fund Administration (Cayman) Ltd. is expanding its global network with the opening of a new office in New York City. “North America is a key market for us, and we are absolutely delighted to be opening up a New York office which will further support [...] Oklahoma Hedge Fund Changes Name to Covenant Global Investors, AUM Grows to $320 MillionYesterday, January 26, 2012 : PermalinkNew York (HedgeCo.net) – Covenant Financial Services, LLC., the management company for the Covenant family of target-return, global macro hedge funds and separately managed accounts, has changed its trade name to “Covenant Global Investors.” The change was made to better reflect the firm’s current position in the market and the completion of its evolution from [...] Dow Jones Credit Suisse Hedge Fund Index Performance in 2011Wednesday, January 25, 2012 : PermalinkNEW YORK, Jan. 25, 2012 — The Dow Jones Credit Suisse Hedge Fund Index team today released its 2011 Hedge Fund Market Review. The report examines the drivers of hedge fund performance and asset growth in 2011. Some key conclusions from the report include: Hedge funds, as measured by the Dow Jones Credit Suisse Hedge [...] HedgeHarbor study shows interest in Emerging Hedge Funds spiked in 2011Wednesday, January 25, 2012 : PermalinkHedgeCo.Net (New York) – Hedgeharbor Inc., a wholly owned subsidiary of Asset Alliance Corporation that specializes in investment placement services to institutional investors and high net worth individuals, has recently completed their Annual Global Investor Survey. Survey questions address such topics as: favored investment strategies, anticipated future performance of certain strategies, track record and AUM [...] Dirty Hedge Fund Dealings Premier At SundanceMonday, January 23, 2012 : PermalinkNew York (HedgeCo.net) – Sundance 12 kicked off over the weekend with the new hedge fund movie Arbitrage playing on day 3 of the festival. The movie depicts a hedge fund magnate under investigation, desperate to complete the sale of his trading empire to a major bank before his double-dealings are revealed. Vulture reports: “An [...] GlobeOp Hedge Fund Redemptions At Record LowMonday, January 23, 2012 : PermalinkNew York (HedgeCo.net) – The GlobeOp Forward Redemption Indicator for January 2012 measured 1.85%, down from 4.58% in December 2011. GlobeOp’s data represents approximately 8-10% of the hedge fund industry, with $173 billion in AUM. “January 2012 is the lowest month for hedge fund investor redemption notifications since Index records began in 2008,” said CEO Hans [...] What The Specialists Are Saying About Private Equity And Hedge Funds This YearFriday, January 20, 2012 : PermalinkNew York (HedgeCo.net) – “When large-scale hostile takeovers appeared in the 1980s, many voiced the opinion that they were driven by investor greed; the robber barons of Wall Street had returned to raid innocent corporations. Today, it is widely accepted that the takeovers of the 1980s had a beneficial effect on the corporate sector and [...] People Moves: UK University Snaps up Hedge Fund GuruFriday, January 20, 2012 : PermalinkNew York (HedgeCo.net) – In a move that turns the table on the hiring status quo, Strathclyde University has reached out into the world of hedge funds to access talent. In announcing that it has just appointed Daniel Broby as a Visiting Professor, it has shown that rocket scientists can go the other way in [...] News Roundup: 7 Hedge Fund Managers and Analysts ChargedThursday, January 19, 2012 : Permalink“New York (HedgeCo.net) – Obama’s financial fraud task force yesterday unveiled a hedge fund fraud case involving a “club” of high profile NY men, charged with insider trading involving computer company DELL. Of those seven, three people have been arrested, one surrendered, and three others have not been arrested as they cooperated with authorities, according to [...] Hedge Fund Association On The EU Financial Transaction TaxWednesday, January 18, 2012 : PermalinkNew York (HedgeCo.net) – The proposed European Union financial transaction tax (FTT) could lead to a significant decrease in cross-border trading of financial instruments in the EU, undermining the single market, according to the Alternative Investment Management Association (AIMA), the global hedge fund association. AIMA, which has carried out a comprehensive analysis of the proposed [...]   Anger grows over RBS chief’s £900,000 bonus
Today, January 27, 2012
Guardian – Ed Miliband and Boris Johnson have joined the chorus of criticism over the decision by the Royal Bank of Scotland to award its chief executive a bonus of nearly £1m. The bank is more than 80% owned by the taxpayer, and Johnson, the Conservative mayor of London, reacted to the payout by saying the government “should step in [...] Hedge funds lift Romney’s income
Today, January 27, 2012
Boston Globe – Though Mitt Romney made his reputation as a private equity investor, his tax returns show the presidential candidate has a large portion of his wealth in an even more aggressive corner of the investment world: hedge funds. A Globe examination of Romney’s taxes and a prior financial disclosure shows that about one-third [...] Hedge Funds Eyeballing Shares of GM
Today, January 27, 2012
MSNBC – An investment in GM offers upside to the cyclical recovery in the North American markets, as well as the best possible exposure to the secular growth in the BRIC countries, particularly China, but also Brazil. Balance sheet and operation restructurings have meaningfully reduced GM’s break-even point, allowing it to generate strong margins and [...] Texas Fund ‘Eaten Alive’ by Hedge Fees May Curb Costs by Hiring In-House
Today, January 27, 2012
Bloomberg – Texas’s Permanent School Fund may hire in-house money managers to oversee its $25 billion in assets because returns are being “eaten alive” by hedge-fund fees, according to Chief Investment Officer Holland Timmins. Returns were less than 1 percent for the 44 months through November on assets managed by the five companies that bundle [...] Yen jumps most in a month as hedge funds pile in
Today, January 27, 2012
Reuters – The yen was on track to post its biggest daily gain in a month against the dollar on Friday, as exporters stepped up month-end purchases and hedge funds piled in, triggering stop losses, traders said. Japanese corporates sold the dollar which had been drifting lower after hitting a two-month high this week. This [...] Bridgewater Associates, world’s biggest hedge fund, emerges as one of the best performers
Today, January 27, 2012
Economic Times – Bridgewater Associates, which manages nearly $120 billion, posted returns of 23 percent in 2011 – a year when the average hedge fund portfolio lost 5 per cent. Against the backdrop of fear over European debt and stagnant global growth, the hedge fund, led by one of Wall Street’s more enigmatic titans, Ray Dalio, sidestepped [...] WaMu judge may cancel ruling that allows creditors to claim insider trading by hedge funds
Yesterday, January 26, 2012
Washington Post – A Delaware bankruptcy judge on Wednesday granted Washington Mutual Inc.’s request that she consider throwing out portions of a September ruling that gave some creditors permission to pursue claims of insider trading by several hedge funds, who are also WaMu creditors. WaMu and supporting creditors argued that an agreement on its latest [...] Hedgies braving battered markets to go it alone
Yesterday, January 26, 2012
Reuters – Several high-profile hedge fund managers are preparing to strike out on their own this year, supported by strong followings and unfazed by a year of poor industry performance that has shaken investor confidence in the $2 trillion sector. Managers including ex-Gartmore star Guillaume Rambourg, ex-Barclays Capital commodities trader Todd Edgar and Sutesh Sharma, a [...] Hedge fund in multimillion dollar settlement over Dell ‘insider trading’
Yesterday, January 26, 2012
ComputerWorld – Diamondback Capital Management, a large US hedge fund managing billions of dollars of assets, has settled a groundbreaking FBI case around the alleged $62 million (£40 million) insider trading of Dell and Nvidia stock. The hedge fund will immediately pay $9 million to authorities as part of the agreement, which was reached in [...] Can Hedge Fund Managers Master Market Volatility?
Yesterday, January 26, 2012
Advanced Trading – Since the Arab Spring turned into the Euro Summer, the capital markets have been on a roller coaster ride that has Wall Street veterans scratching their heads, investors heading for safer ground and risk-loving hedge fund managers eager for another ride. Many investors may panic at signs of volatility, but for today’s [...] No, Hedge Funds Can’t Foreclose On The Acropolis
Yesterday, January 26, 2012
NPR – Greece is broke. But there’s no blueprint for a country to declare bankruptcy, so Greece’s creditors are sort of making things up as they go along. “You’re taking some sort of loss,” Hans Humes, of Greylock Capital Management told me. “But it’s like, how much of a loss do you take? There’s this [...] Northern Trust Offers New Fund of Hedge Funds Reporting Platform
Yesterday, January 26, 2012
Press Release – Northern Trust has enhanced its offering to Fund of Hedge Funds (FoHF) clients with a new reporting platform which provides clients with better, more flexible access to key data elements. This, the latest in a series of enhancements, is available to Northern Trust’s FoHF clients worldwide, through its Hedge Fund Monitor product(TM). The [...] |
