Each business day HedgeCo.Net keeps you informed with the top hedge fund industry news, opinion and insight from around the globe. From the latest hedge fund launches, to the impact of regulation, competition, and investor activism - we track the topics and people that make a difference to you.
HedgeCo.net (West Palm Beach) - Hedge fund performance specialist Alternative-Index Ltd., fully owned by hedge fund manager, Salus Alpha Group AG, reported that the Relative Value Index (RVX) is the top performing Alternative Investment Indices (AI-Index) in June 2009 with a month-to-date performance of +0.52% listed on the Vienna Stock Exchange.
The RVX outperformed the [...]
HedgeCo.net (West Palm Beach) - New York-based currency manager FX Concepts is launching a new Luxembourg-domiciled fund investing in its flagship Global Currency Program (GCP). The fund has been set up in conjunction with Deutsche Bank.
“Investor interest in active currency strategies has been very strong this year, and we’re delighted to make our Global [...]
HedgeCo.net (West Palm Beach) - A survey by RSM McGladrey, a financial services consultancy, found that hedge fund managers are surprisingly ready to work with SEC regulators to cooperate with authority, despite wide-spread wariness about over-excessive regulation from the Obama administration.
However, the Obama financial regulatory plan was a top concern with 75%, fearing that further [...]
HedgeCo.net (West Palm Beach) - Swedish hedge fund manager, Brummer and Partners, is expanding its offering of hedge funds by launching Karakoram, a new long-short Asia fund today.
The new hedge fund will take both long and short positions in liquid equities on Asian markets such as Hong Kong, China, India, South Korea, Taiwan and Singapore. [...]
West Palm Beach (HedgeCo.net) - European hedge fund manager, NB Private Equity Partners (NBPE), and a new fund launched by Altus, ‘Altus Resource Capital,’ have been accepted by The London Stock Exchange into the The Specialist Fund Market (SFM).
As an EU Regulated Market, SFM is designed to offer access for specialist investment vehicles targeting institutional, [...]
UPDATE: HedgeCo.net (West Palm Beach) - Najy N. Nasser, Chief Investment Officer of the Bahamas/UK based hedge funds, Headstart Advisers Limited (HAL) and Headstart Fund, has agreed with the SEC to pay $17.8 million in a settlement regarding a 2003 alleged late trading scheme.
Without admitting or denying the allegations, the civil settlement includes payments of [...]
West Palm Beach (HedgeCo.net) - Roy H. Callahan has been selected as portfolio manager and member of the investment committee at alternative investment firm, Coast Asset Management, LLC firm’s , effective June 15.
"We are thrilled that Roy Callahan has agreed to rejoin our team," said David Smith, president of Coast. "Roy brings a wealth of [...]
West Palm Beach (HedgeCo.net) - Euromoney Institutional Investor is planning to launch a new magazine and online offering covering US and international hedge funds in September.
The company’s hedge fund publishing assets include Institutional Investor’s Alpha magazine and Absolute Return magazine, which is published by HedgeFund Intelligence, the world’s leading information source on hedge funds. [...]
West Palm Beach (HedgeCo.net) - Institutional brokerage and hedge fund services company BTIG LLC, announced the expansion of its international capabilities with the addition of a three-person U.S. based live hours (8pm-2am EST) Japan team.
The U.S. based Japan team will initially consist of William Chandruang, Jeff Gallo, and David Schneider, all hired at the managing [...]
West Palm Beach (HedgeCo.net) - Arden Asset Management LLC, a leading independent fund of hedge funds manager, and J.P. Morgan today announced an agreement under which Arden will manage a $1.1 billion proprietary hedge fund of funds [...]
West Palm Beach (HedgeCo.net) - Bull Path Capital Management recently announced the conversion of one of its long-short hedge funds into a long-short equity mutual fund the ‘Bull Path Long Short Fund’ (BPFCX).
The newly launched mutual fund ranks #1 of 811 funds on total annualized returns in the Lipper Mid-Cap Universe for the 5 [...]
West Palm Beach (HedgeCo.net) - Stephen Markowitz, most recently the Senior Vice President, Equity Derivative Sales for global inter-dealer broker Tullett Prebon, has joined hedge fund provider, WallachBeth Capital LLC (WBC) as a Managing Director of the firm.
“Having known and worked with Stephen for the better part of twenty-five years, and as the options markets [...]
Times Online - Alistair Darling has warned that he will impose tougher regulation to avoid a repeat of the banking crisis amid fears of a return of the bonus-driven, risk-taking culture in the City.
The Chancellor told The Independent newspaper that bankers who are too complacent will be “brought [...]
Citywire.co.uk - The polished doors of the poshest hedge fund offices in St. James’s Park have been closed to humble private client managers in recent years.
As the good times rolled the retail market place was of little interest to hedge funds. But now hedge fund managers have been reduced to crowd control stewards – [...]
Pittsburgh Tribune Review - Tollgrade Communications Inc. is challenging the independence of two nominees for seats on its board of directors because a dissident hedge fund group is paying them to run as part of its bid for control.
Tollgrade, based in Harmar, said the fact that Ramius Group is paying $40,000 for two people to [...]
Reuters - Activist hedge fund firm TCI, which launched an attack on ABN AMRO in 2007 that helped trigger the Dutch bank’s sale, has seen profits surge 73 percent but warned this year will be tougher.
The Children’s Investment Fund Management (UK) LLP reported profit available for sharing among members of 555.9 million pounds for the [...]
Reuters - Belgian bank KBC said it had terminated a $219 million leverage facility it provided to BlueCrest Specialty Asset Finance, a fund run by UK hedge funds manager BlueCrest Capital Management.
It was not immediately clear how much of the facility KBC will be able to retrieve.
Read Complete Article
Bloomberg - Camulos Capital LP, a hedge-fund firm founded by former Soros Fund Management LLC trader Richard Brennan, is in talks to have Mariner Investment Group run its business operations.
Mariner, an $11 billion firm managed by Bill Michaelcheck, may handle compliance, accounting and administration for Stamford, Connecticut-based Camulos, according to a June 30 investor letter [...]
Reuters - Belgian bank KBC said it had terminated a $219 million leverage facility it provided to BlueCrest Specialty Asset Finance, a fund run by UK hedge funds manager BlueCrest Capital Management.
It was not immediately clear how much of the facility KBC will be able to retrieve.
"We continue to work with KBC [...]
Reuters - Activist hedge fund firm TCI, which launched an attack on ABN AMRO in 2007 that helped trigger the Dutch bank’s sale, has seen profits surge 73 percent but warned this year will be tougher.
The Children’s Investment Fund Management (UK) LLP reported profit available for sharing among members of 555.9 million pounds for the [...]
Newsday - FBI agents have raided a pair of multimillion-dollar Buffalo-area homes owned by a hedge fund firm from Cleveland.
Dozens of agents on Wednesday swarmed the neighboring properties in Hamburg, just south of Buffalo.
The U.S. Attorney’s office isn’t commenting on the raid and wouldn’t disclose the name of the businessman who owns [...]
Reuters - Och-Ziff Capital Management Group, a U.S. hedge fund giant banged up by last year’s market turmoil, said its funds continued their 2009 revival with June gains, although assets under management slipped once again.
The New York firm estimated total assets fell by $800 million in June to $20.7 billion, continuing the contraction of [...]
New York Times Blogs - In his court testimony on Wednesday in New York, Mr. Wilson — formerly a senior executive of Silver Point Capital, a hedge fund specializing in distressed-debt investments — described some of the negotiation process that shaped G.M.’s bankruptcy case. The administration’s auto task force had decided upon an asset sale [...]
Law.com - Goodwin Procter partner David B. Pitofsky was appointed Monday as receiver of the $1.7 billion Ascot fund put together by financier J. Ezra Merkin, almost all of which was invested with Bernard L. Madoff and lost.
Justice Richard B. Lowe appointed Pitofsky receiver in a lawsuit (People [...]
