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Today is Wednesday, May 23, 2012 at
- Countdown to Market Close:
Hedge Fund Philanthropy: 10th Annual Chicago Open Your Heart to the Children BenefitToday, May 23, 2012 : PermalinkNew York (HedgeCo.net) – Hedge Funds Care is today holding a silent auction at it’s 2012 Midwest Gala. Prizes include a seven days/Six night vacation for two in the fabulous Oyster Bay Beach Resort in St. Maarten, 4 VIP Tickets to Opening Bell at the NYSE, among others. Hedge Funds Care is an international charity, supported largely by [...] $35 Million Verdict in Delaware Hedge Fund Accounting Fraud CaseToday, May 23, 2012 : PermalinkNew York (HedgeCo.net) -The Delaware Court of Chancery has awarded plaintiffs Peter McConnon and Timothy Lyons of hedge fund Paron Capital Management LLC., more than $35 million in damages. James Crombie, a former member of the hedge fund, was found to have forged his track record and fraudulently used third party accountants to verify his work. The [...] Survey: Institutional Investors Spur Hedge Funds to Grow Operational Infrastructure and Increase TransparencyMonday, May 21, 2012 : PermalinkNew York (HedgeCo.net) – A new global report by KPMG and AIMA covered 150 managers with $550bn in assets under management. Some fundings include * Almost 60% of global assets under management are now from institutional investors * Nearly 90% of respondents reported increased due diligence since 2008 The post-2008 influx of institutional money into hedge [...] Hedge Fund Giant Man Group Pays 142.8 Million For FRM HoldingsMonday, May 21, 2012 : PermalinkNew York (HedgeCo.net) – Man Group is set to pay up to $142.8 million dollars for FRM Holdings, a global hedge fund research and investment specialist with funds under management of approximately $8.0 billion. Man and FRM’s combined multi-manager business will have total funds under management of approximately $19 billion, making it the largest independent non-US based [...] Hedge Fund Mergers & Acquisitions: Bryn Mawr Bank / Davidson Trust CompanyThursday, May 17, 2012 : PermalinkNew York (HedgeCo.net) – Bryn Mawr Bank Corporation, parent of The Bryn Mawr Trust Company, today announced the completion of its previously announced acquisition of the Davidson Trust Company from Boston Private Financial Holdings, Inc. and members of the Company’s management group. The acquisition increases the Bank’s Wealth Management Division assets under management by approximately $1 billion, or more than 19%. [...] Hedge Fund Law Firm Adds 12 Private Equity And Real Estate SpecialistsThursday, May 17, 2012 : PermalinkNew York (HedgeCo.net) – Hedge fund law firm Schulte Roth & Zabel LLP (“SRZ”), which specializes in regulatory compliance, is undergoing a major expansion of its New York office with the addition of a group of leading private equity and real estate attorneys joining the firm from Dewey & LeBoeuf LLP. Joseph A. Smith and Marshall [...] Private Equity Invests $144 Billion in 1,702 U.S. Companies in 2011Wednesday, May 16, 2012 : PermalinkWashington, D.C. – Private equity firms invested more than $144 billion in 1,702 U.S.-based companies in 2011, according to an analysis released today by the Private Equity Growth Capital Council. The top five states in terms of investment were Texas, New York, California, North Carolina and Oklahoma. Additional states that made the top 20 include [...] GlobeOp April Hedge Fund Performance Index Up 0.51%Tuesday, May 15, 2012 : PermalinkNew York (HedgeCo.net) – The gross return of the GlobeOp Hedge Fund Performance Index for April, 2012 measured 0.51%. · Current month, flash estimate 0.51%* · Year-to-date (YTD) performance 3.66%* · Last 12 month (LTM) performance 1.22%* · Live to date (LTD) performance 64.52%* *gross “The GlobeOp Hedge Fund Performance Index was positive [...] Hedge Funds Up Over $11 Billion in AprilTuesday, May 15, 2012 : PermalinkNew York (HedgeCo.net) – Total inflows amounted to $28.13 billion while client redemptions added to $17.72 billion. The MSCI World Index dropped 1.62% on the back of rising eurozone sovereign yields, weak US economic data and slow Chinese growth. Key highlights from this month’s report: The asset-weighted Mizuho-Eurekahedge Top 100 Index increased 0.28% in April [...] Hedge Fund Launch: Credit Suisse Liquid Alternative FundMonday, May 14, 2012 : PermalinkNew York (HedgeCo.net) – Credit Suisse’s Asset Management Division has announced the launch of the Credit Suisse Liquid Alternative Fund. The fund seeks to offer access to hedge fund-like returns, with the flexibility of daily liquidity, increased transparency and 1099 tax reporting. The fund is intended to complement the suite of alternatives-focused mutual fund offerings [...] May Produces Another Month of Positive Hedge Fund Net FlowsFriday, May 11, 2012 : PermalinkNew York (HedgeCo.net) – Hedge fund flows as measured by the GlobeOp Capital Movement Index advanced 1.24% in May. “May produced another month of positive net flows into hedge funds,” said Hans Hufschmid, chief executive officer, GlobeOp Financial Services (LSE:GO.). “Gross inflows and outflows were moderate.” The GlobeOp Capital Movement Index represents the monthly net [...] Hedge Fund Launch: Neuberger Berman Introduces Long Short FundThursday, May 10, 2012 : PermalinkNew York (HedgCo.net) – Neuberger Berman, one of the world’s leading employee-owned money managers, has introduced the Neuberger Berman Long Short Fund (“the Fund”) (tickers: NLSAX, NLSCX, NLSIX), providing investors with a long-short investment strategy that seeks long-term capital appreciation and principal preservation, and is available with daily liquidity at a minimum investment of $1,000. [...]   Ex-Societe Generale commodity traders plan discretionary hedge fund for end of 2012
Today, May 23, 2012
Hedge Funds Review - Former Société Générale commodity traders plan to launch a hedge fund in Q4 to take advantage of an expected increase in investor appetite for commodities. The fund will combine three strategies. Three former Société Générale executives are launching a discretionary commodity hedge fund in the belief there will be a market rebound at [...] Witness ties ex-P&G board member to NY fund boss
Today, May 23, 2012
AP – A former board member for Goldman Sachs and Procter & Gamble on trial on insider trading charges and two men and a woman already criminally convicted were on a list of 10 “important people” who could interrupt a billionaire hedge fund boss just before trading days ended, the trial’s first witness testified Tuesday. [...] President Obama raised most from private equity, hedge funds in 2008
Today, May 23, 2012
The Hill – President Obama raised far more cash from hedge fund and private equity donors than any other candidate in the 2008 election cycle. According to an analysis by the nonprofit group Open Secrets, Obama took in nearly $3.5 million from large private-equity donors that year — nearly twice what his general-election rival, Sen. [...] “Mini-Madoff” ordered to pay ex-partners $35 mln
Today, May 23, 2012
Reuters – The founder of a hedge fund was found on Tuesday to have defrauded his former partners and was ordered to pay them $35 million in a case described by one lawyer as a “mini-Madoff.” James Crombie, a one-time JPMorgan Chase & Co trader, was ordered by a Delaware Court of Chancery judge to [...] U.S. SEC, FINRA Call For Facebook Review, Pressure Builds
Today, May 23, 2012
Reuters – Two top U.S. financial regulators called for a review of the initial public offering of Facebook last week, putting fresh pressure on the company, its embattled lead underwriter and the Nasdaq. After Friday’s [May 18] nearly flat close and Monday’s [May 21] 11 percent plunge, Facebook shares were down 8 percent at $31.28 [...] Rajat Gupta: Twin portrayals of ex-Goldman director at his trading trial
Yesterday, May 22, 2012
Economic Times – “He’s not an insider trader. He never defrauded anybody. He never cheated anybody,” said a lawyer for Rajat K. Gupta, once one of America’s most prominent businessmen. “He doesn’t belong in this courtroom.” Yet there was Gupta, sitting stoically before a jury, as his trial got under way Monday in U.S. District Court [...] Hedge Funds Circle as Japan’s Asset Bubble Grows
Yesterday, May 22, 2012
Bloomberg – It’s limbo, Japanese-style: How low can bond yields go without triggering a meltdown? This question gains urgency as 10-year government yields disappear before the world’s eyes. At 0.83 percent, the lowest level since 2003, they hardly compensate investors for the risks inherent in buying IOUs from the most indebted nation. Public debt is more than twice [...] Did Hedge Funds Steal The Facebook IPO Pop?
Yesterday, May 22, 2012
Forbes – Facebook‘s 10% decline today has turned the initial public offering of the century into the bust of the century, but consider this: A decade ago, the company probably would have gone public much earlier, say in May 2009 when Digital Sky Technologies pumped $200 million into Facebook at a $10 billion valuation. As I reported [...] Hedge funds cut bets to lowest in 2012
Yesterday, May 22, 2012
Economic Times – Hedge funds reduced wagers on a rally in commodities to the lowest this year on mounting speculation that Greece will leave the euro, slowing global growth and curbing demand for everything from copper to soybeans. Money managers reduced net-long positions across 18 US futures and options by 15% to 616,841 contracts in [...] Hedge Funds Rebuild Euro Bear Bets on Greek Exit Banks Weigh
Monday, May 21, 2012
Bloomberg – The euro has weathered the worst financial crisis since the Great Depression, bailouts of Greece, Ireland and Portugal, and falling interest rates. Now, investors are betting like never before that a Greek exit would be too much to keep the 17-nation currency above its long-term average. Hedge funds and other large speculators, which [...] Facebook investors face anxious first full week of trading
Monday, May 21, 2012
Telegraph – The Silicon Valley company will embark on its first full week as a public company, overshadowed by concerns about its lacklustre multi-billion debut on Friday. It is feared demand for the shares may also be hit by Europe’s deepening debt crisis, which has sent investors fleeing for less risky investments such as US, [...] Institutional clients prod hedge funds for more transparency, due diligence
Monday, May 21, 2012
Pensions & Investments - Hedge funds are becoming more “institutionalized” as they respond to greater demands for transparency and due diligence from pension funds and other institutional clients, according to a new survey report by KPMG and the Alternative Investment Management Association. Among 150 responding hedge fund managers, 88% reported demand for greater due diligence and 82% [...] |
