HEDGE FUND NEWS

West Palm Beach (HedgeCo.net)- US hedge fund Harbinger has increased its stake in Australian iron ore miner Midwest Corp. Ltd. to 12.53%, an effort to block Chinese iron ore trader Sinosteel Corporation’s takeover of the latter.
Harbinger, a major shareholder of Murchison Metals Ltd., increased its stake in Midwest to 10.53% on July 14 and 12.53% […]

West Palm Beach (HedgeCo.net)- BNP Paribas has appointed Thomas Mahala and Jason Miller to its global hedge fund relationship management team (HFRM). BNP Paribas now has over a dozen relationship management professionals located in […]

West Palm Beach (HedgeCo.net)- In a summary of hedge fund performance for the second quarter of 2008, Morningstar, Inc. marked June as a bad end to a good quarter. The Morningstar 1000 Hedge Fund Index fell 0.73% during the month, pushing down second-quarter returns to 2.07%. Year to date, the index is up only 0.31%, […]

West Palm Beach (HedgeCo.net)- Global fund of hedge funds (FOHF) group Financial Risk Management (’FRM’), has hired Au King-lun, MH, PhD, as Chief Executive Officer of FRM Hong Kong.
"The firm has long been known for its strength in serving institutions and for its deep expertise in hedge funds." Dr Au said, "Asian investors are increasing […]

The Internal Revenue Service (“IRS”) has recently issued new rulings and regulations that have an impact on tax filings by many hedge funds.  The new rulings deal with the deduction of investment interest expense for trading funds and fund-level expenses incurred by fund-of-hedge funds.
Investment Interest Expense
The ruling recently issued by the IRS regarding investment interest […]

West Palm Beach (HedgeCo.net)- New York based fund manager Auda Hedge LLC has selected hedge fund manager Northern Trust to provide fund administration, custody, banking and foreign exchange services to its fund of hedge fund program, with assets in excess of US$1 billion.
In January 2008, Northern Trust announced a worldwide exclusive partnership with youDevise to […]

West Palm Beach (HedgeCo.net)- Recent news from Reuters shows that there is a booming interest in foreign exchange markets. According to the article, FX traders are seeing an increasing demand from institutional players, pension funds, and corporations. However, searching the internet will reveal few true FX hedge funds.
Tri Global FX, a New York based FX […]

West Palm Beach (HedgeCo.net)- Winners of Alternative Investment News’ 6th Annual Hedge Fund Industry Awards were announced on Wednesday evening June 25th at a black-tie dinner and ceremony at Cipriani Wall Street in New York City. The awards recognized hedge funds, fund of funds, consultants, endowments, foundations and corporate and public funds that stood out […]

New York – June 17, 2008 – MadisonGrey Global Fund Services and HedgeOp Compliance today announced a co-marketing agreement that will combine MadisonGrey’s total fund administration, accounting, cash management, and investor relations services with the leading web-based compliance platform for hedge funds and funds of hedge funds.  The alliance enables MadisonGrey to use the ComplianceTrak […]

Zurich - Harcourt Investment Consulting AG (Harcourt) is pleased to announce the launch of Belmont (Lux) Global Emerging Markets, a multi-strategy fund of hedge funds dedicated to harnessing the unique opportunities presented by hedge funds focussed on emerging markets. Through a well diversified portfolio of managers and strategies, the fund affords efficient exposure to emerging […]

HedgeCo.Net - Cranwood Capital Management LLC has announced the launch of their new fund, the Cranwood Fixed Income Arbitrage Fund. The fund seeks to generate high, absolute returns by using Treasury futures to arbitrage temporary discrepancies occurring along the U.S. Treasury Yield Curve.
After building their reputation as a propriety trading firm and posting average monthly […]