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.
New York (HedgeCo.net) – On Thursday, a Federal Judge dismissed a $150 million lawsuit brought by the San Diego County Employees Retirement Association (SDCERA) against Amaranth Investors on the basis of the fact that, like all investors, the county had signed offering documents indicating there was a chance of losing its $175 million investment. New York [...]
New York (HedgeCo.net) – Deutsche Bank surveyed over 600 investor entities worldwide, representing over $1 trillion in hedge fund assets, revealing that 52% of investors predict equity long/short to be one of the best performing strategies for 2010, and 51% believe they will increase their allocations to the strategy.
“In 2009, the hedge fund industry experienced [...]
New York (HedgeCo.net) – Investors have recovered their bullishness towards equity markets but are shifting their focus away from Europe and into the U.S. and Japan, according to the BofA Merrill Lynch Survey of Fund Managers for March.
A total of 207 fund managers, managing a total of US$589 billion, participated in the global survey from [...]
New York (HedgeCo.net) – The SEC has filed a federal case against hedge fund advisor Stephen X. Kim and Spyglass Management, L.P. for their roles in allegedly defrauding Spyglass Capital Partners, L.P., a hedge fund managed by Kim through Spyglass, according to court filings.
The SEC complaint, filed in Texas, alleges that between in 2004 and [...]
New York (HedgeCo.net) – Hedge fund and FoHF manager, SSARIS Advisors, LLC, won the “Global Multi-Strategy over 3 years” award ($500 million -$1 billion) at the annual InvestHedge FoHF Awards ceremony held last night in New York City. SSARIS won in the Multi-Manager Absolute Return Strategy category.
To qualify, all funds of funds must provide [...]
New York (HedgeCo.net) – The UCITS Hedge Fund Strategy Index gained 0,93% within the first two weeks in March 2010, every strategy except fixed income and market neutral were positive, Global macro not only being the most successful strategy in 2010 but also in March with gains of 2,85% so far.
The other most successful strategies [...]
New York (HedgeCo.net) – Institutional broker dealer, Ticonderoga Securities has launched an exchange traded funds (ETF) desk, led by industry veteran William Bauer. Bauer joins Ticonderoga with more than 18 years of institutional equity and derivative sales and trading experience, with five years focused on ETFs.
“Hedge funds and money managers are increasingly embracing ETFs as [...]
New York (HedgeCo.net) – When hedge fund founder and manager John Horseman stepped down from his position as CEO of Horseman Capital, his clients pulled out with more than half of the hedge fund’s assets, Reuters reported.
Horseman’s flagship fund fell to just $535 million in size from $2.8 billion in November. The clients withdrew aproximately [...]
New York (HedgeCo.net) – Hedge fund managers can use the brokered CD market for cash management according to attorney Stephen M. Goodman, a partner with New York law firm Pryor Cashman.
“Brokered CDs are used in cash management to provide returns which are slightly better than money market funds, but with the added benefit of FDIC [...]
New York (HedgeCo.net) – New research is in from Pensions & Investments starting with a list of the world’s largest hedge funds as of the end of 2009.
($ billions)
1. J.P. Morgan $53.5
2. Bridgewater Associates $43.6
3. Paulson & Co. $32.0
4. Brevan Howard $27.0
5. Soros Fund Mgmt. $27.0
6. Man Group $25.3
7. Och-Ziff Capital Mgmt. Group $23.1
8. D.E. [...]
New York (HedgeCo.net) – Hedge funds returned to positive territory in February 2010, according to a preliminary Eurekahedge report. There were approximately 90 hedge fund launches globally in 1Q2010. With arbitrage hedge funds delivering 15 consecutive months of positive returns, gaining 26.23% since November 2008.
New York Hedge fund returns across most regions were marginally positive [...]
New York (HedgeCo.net) – U.S. prosecutors yesterday recommended a sentence of 335 years in prison for hedge fund founder Thomas Petters, more than twice the term given to Bernard Madoff, according to Bloomberg. Petters was charged with mail and wire fraud, money laundering and obstructing justice.
A federal judge in Minneapolis ordered Petters to be held [...]
BusinessWeek – The top-ranked investor in renewable energy last year is betting hedge funds are wrong.
Thiemo Lang, manager of the 500 million euro ($681 million) SAM Smart Energy Fund, is buying stocks that most investors are selling, such as Chinese solar-panel manufacturers. He’s aiming to repeat the 83 percent gain in [...]
Reuters – Families so rich they employ their own investment managers are set to increase their recruiting from an untapped pool of talent: hedge funds.
And in the wake of the financial crisis, more hedge funders may be open to joining so-called family offices, despite an initial cut in pay, according to Greg Coules and [...]
NYT – Yale University’s endowment plans to prune its hedge fund investments to make room for bigger stakes in private equity and real estate, Bloomberg News reported.
The fund plans to raise its P.E. investments to 26 percent from 21 percent. It also targeted a 37 percent investment in the asset class [...]
WSJ – Henry “Hank” Morris, a one-time top political adviser to former New York Comptroller Alan Hevesi, denied committing fraud or any other crime in his dealings with the state’s largest pension fund.
In a court filing late Tuesday, William J. Schwartz, a lawyer for Morris, argued that the public shouldn’t be shocked [...]
Telegraph – The inability of the eurozone to put together a viable package after a month of talks has dismayed markets, which thought the terms of a deal had already been agreed. Yields on 10-year Greek bonds spiked 17 basis points yesterday to [...]
BusinessWeek – Flowering Tree Investment Management Pte, set up by the co-founder of New York-based Sansar Capital Management LLC, has grown its Asian equities hedge fund more than fivefold as it outperformed peers.
Singapore-based Flowering Tree’s fund has grown to more than $70 million, from $12.5 million when it started trading in [...]
BusinessWeek – Rupesh Tailor and Jose Mosquera, who worked together as credit traders at Barclays Capital, are starting a regulated hedge fund in Madrid to bet on a shake-up of the banking industry using default swaps, bonds and equities.
Tailor, 30, and Mosquera, 37, will seek to profit from mergers, spin offs [...]
Pensions&Investments – The Illinois Student Assistance Commission, Chicago, allocated a total of $135 million to three hedge fund managers, its first move in the area.
The three are among 13 hedge fund firms approved to run assets of the $982 million College Illinois! Prepaid Tuition Program fund.
Balestra Spectrum and Pinnacle Natural Resources [...]
Bloomberg – Germany’s suggestion that it may order spies to track speculators targeting currencies is “sinister and silly,” according to analysts, who said hedge funds in London and New York would be the targets.
Germany’s Finance Minister Wolfgang Schaeuble told the Bundestag on March 16 that the country may have to consider ordering “intelligence agencies to [...]
NYT – Hedge funds and private equity may have won a short reprieve after EU finance ministers agreed to delay a decision on new rules for the industry, but the proposals aren’t dead, Jean-Paul Gauzes, a French member of the European Parliament, told Bloomberg News.
On Tuesday, the ministers, meeting in Brussels, [...]
Telegraph – The ECOFIN gathering of finance ministers from the 27 EU states had been due to debate the Alternative Investment Fund Managers (AIFM) directive but it was removed from discussion. Instead, it will now be tabled at next month’s G20 Summit [...]
BBC – In the autumn of 2008, during the worst global banking crisis since the 1930s, I was interviewed by French television and asked to explain the malevolent role of hedge funds in causing the mess we were in.
When I said that hedge funds were really not at the heart of the [...]
