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.
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CNN Money – For years, U.S. hedge fund managers have worried that their loosely regulated and secretive industry would one day face tougher regulations.
Now that day seems to be here.
"It was inevitable that this would happen," said Brad Alford, founder of Alpha Capital Management, an advisory firm that invests in hedge funds. "From the time Congress had the industry’s top hedge fund managers testify late last year, we knew something was coming."
Reuters – Anxiety is sweeping the hedge fund industry before a crucial deadline on Saturday, when investors angered by recent heavy losses are expected to demand the return of billions of dollars.
"Managers have a pretty good feeling for what is coming, and there are significant redemption requests out there," said Stewart Massey, founding partner of Massey, Quick & Co., an investment consultant that puts money into hedge funds.
Saturday is the last day for thousands of investors to notify hundreds of hedge funds if they want their money back by year’s end.
Hedge funds that require three months notice from investors who wanted to exit by year’s end had a similar deadline on September 30 — also known in the industry as "D-Day."
Reuters – Boutique alternative fund firm Triple A Partners said on Friday it was backing a new South Korea-focused hedge fund which it expects to launch on Sept. 1 with around $40 million in assets.
Triple A, also known as Asia Alternative Asset Partners, said it would seed KS Asset Management, which will launch the KS Asia Long/Short Fund. The new hedge fund will be a Korean-focused vehicle with the ability to trade across Asia.
The new fund will be managed by Kyle Shin, formerly the head of Kingdon Capital Korea. Triple A said Shin will establish the new business in Hong Kong, from where he will build out his team.
It said he would be joined by an analyst with more than seven years experience in managing Korean portfolios, and an external investment consultant.
Shin has "an outstanding record in Asian stock picking and has an extensive local network with access to company executives … his proprietary research on the technology sector will also be of substantial benefit," Triple A Chairman Hans Tiedemann said in a statement.
