The Olympian - Asian stock markets turned in a mixed performance Friday, but most recoiled from their lows despite a grim profit forecast from Toyota and sluggish U.S. economic data. European markets opened higher.

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Bloomberg - At 5-foot-4 and 48 years, Nissim “The Miracle” Tse is the shortest and oldest of 34 boxers signed up for this year’s Hong Kong Hedge Fund Fight Nite.
Calling himself “a financial warrior,” Tse likens boxing to his daytime job as a co-founder and head of trading for Hong Kong-based Pi Investment Management Ltd., […]

Reuters - GAM, the hedge fund firm owned by Julius Baer AG, is preparing to launch a distressed debt fund of funds after watching asset prices reach "extreme levels", a company letter seen by Reuters said.
In a letter to investors seen by Reuters on Monday, GAM chief executive David M. Solo said: "We are […]

International Herald Tribune - In May, David Einhorn, an outspoken hedge fund manager, took the microphone at a large industry gathering and laid out his case against the investment bank Lehman Brothers.
The firm, he told the crowd, had used "accounting ingenuity" to avoid large write-downs and remained tainted by bad commercial real estate investments. Einhorn stood […]

Bloomberg - Kenneth Heebner, manager of the top-ranked U.S. stock mutual fund, is seeking as much as $5 billion for his first hedge fund.
Heebner, who has worked in the mutual-fund business almost four decades, formed a private investment partnership in June called Wayfarer Capital LP, according to Aug. 14 regulatory filings. The size of the […]

New York (HedgeCo.Net) - Treasury Secretary Henry Paulson outlined a plan yesterday that may give some power to the U.S. government when hedge funds come to the end of the road.
Paulson said that in the event of trouble, he wanted “"additional powers to manage the resolution, or wind-down, of large non-depository financial institutions, such […]

New York (HedgeCo.Net) - Jacksonville, Florida-based Advantage Capital Equity Solutions is set to unveil its new asset based lending hedge fund at the end of this month according to an article published in FINalternatives.
The Advantage Capital Equity Fund II will locate nonperforming assets and purchase them at a discounted rate such as real estate taken […]

Independent- The UK’s financial watchdog has targeted hedge funds for the second time this month, demanding more disclosure for those trying to build anonymous stakes in companies using a complex derivative, in a bid to combat market failure.
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BEIJING (Reuters) - Bank of Communications Schroders Fund Management Co is aiming to raise up to 1 billion yuan for its first overseas fund later this month, despite sliding global financial markets, two company sources said.
Poor market conditions have sapped interest in funds launched recently under China’s Qualified Domestic Institutional Investor QDII.L scheme, which offers […]

FINalternatives- Godvig Capital’s Iraq-focused Babylon Fund finished May up 2.7%, bringing its year-to-date gains to 5.2%.
The fund’s portfolio included stakes in hotels, banks and breweries last month, according to portfolio manager Björn Englund, who said he has been solicited to take on board seats but has refrained from doing so.
“Our board policy stays for now, […]

West Palm Beach (HedgeCo.Net)- Hedge fund manager Jupiter Asset Management announced the launch on June second 2008 of the of the Jupiter Strategic Bond Fund.
The new fund is Sterling denominaterd with a 4% initial fee and 1.25% as annual management charge. The minimum investment is a lump sum of £500 ($896.2), or monthly saving of […]

West Palm Beach (HedgeCo.Net)- Hedge fund manager Jupiter Asset Management announced the launch on June second 2008 of the of the Jupiter Strategic Bond Fund.
The new fund is Sterling denominaterd with a 4% initial fee and 1.25% as annual management charge. The minimum investment is a lump sum of £500 ($896.2), or monthly saving of […]