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.
West Palm Beach (HedgeCo.net) - The Opalesque South Africa Roundtable was held November 10th 2008 in their Cape Town Office. There, the participants also discussed the particularities of investing in Africa (ex-South Africa).
South Africa’s equity and fixed income markets displayed exemplary robustness during 2008. Many global allocators may not be aware that the South African financial market infrastructure matches or exceeds its "first world" counterparts in many respects.
The equity and fixed income markets demonstrated exemplary robustness throughout the turbulences of 2008: no short-selling ban, no trading halt and no failed trades. Offshore investors can benefit from efficient and proven ways to get pure South African alpha without taking currency risk.
During the Roundtable, portfolio managers explained new ways to construct hedges, and informed on new and upcoming products. How global investors can benefit from the "Africa story", which is probably the largest opportunity set in the new investment paradigm called "frontier investing"? How do you deal with restricted liquidity, and is Africa really uncorrelated?
The following experts participated in the Opalesque South Africa Roundtable: James Gubb, Founding Partner of Clear Horizon Capital St. John Bungey, Partner, Praesidium Capital Management James Addo, Portfolio Manager, Finch Asset Management Simone Lowe, Portfolio Manager, Thames River Capital Andy Pfaff, Founding Partner of Trendline Funds Ian Hamilton, Founder, IDS Group Ryan Proudfoot, Co-Head RMB Prime Broking Warren Chapman, Head of Peregrine Prime Broking Kevin Ewer, Portfolio Manager, Blue Ink Investments.
South African hedge fund managers and hedge fund investors share surprising insights. For example, – South African single strategy hedge funds offer transparency "far superior to anything anywhere else", according to investors – South African hedge funds suffered their first – and only until that point – net redemptions in October 2008, but only 2.5% of total assets – South Africa is the first country in the world that actually distinguishes between normal fund managers and hedge fund managers, with higher criteria required for hedge fund managers.
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West Palm Beach (HedgeCo.net) – Hedge fund managers KP Securities and Sophia Capital Securities announced that they are joining forces, enhancing the 2 firms ability to raise capital for alternative investment managers. The transaction between the two firms was finalized on September 1, 2008.
The new combined company, Belvedere Global Investors LLC, is headquartered in Belvedere, California, a short distance from the San Francisco financial district. The company is a distribution boutique focused on alternative investments. It raises capital for investment manager clients that include hedge, private equity and venture capital funds and funds of funds, as well as for private companies seeking direct investments.
"This transaction will allow our team to continue deepening its geographic coverage of investing clients and fund managers, bringing under one roof a truly global collection of relationships", said Keith Pagan of KP Securities.
Over the past 4 years, the combined team, now run by Keith Pagan and Patrick Beaudan, the principals of Belvedere, has raised over $1.5 billion in capital for alternative investment managers in the U.S., Europe and Asia, working with investors in over 50 different countries.
"The combination of our firms enhances the depth of the professional assets we can deploy in supporting the capital raising efforts of an increasing range of clients in the alternative investment space, while preserving our focus on delivering top-notch investor relations services", said Patrick Beaudan.
As part of its activities, Belvedere also organizes private roundtables, where institutional investors meet select alternative investment managers over the course of a high-quality, one-day event that excludes vendors and the press.
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
TORONTO - Introduction Capital announced today that BMOCapital Markets and Sprott Asset Management have signed on as the executivesponsors for its third annual forum for sophisticated global investors whoare interested in the Canadian hedge fund market entitled "Canadian HedgeFund Managers Speak with Investors".
"We are very pleased to have such great support from the Canadian Hedge fundcommunity," said Karen Azlen, CEO, Introduction Capital Inc.
The forum will provide investors with direct access to 17 of Canada's mostprominent hedge fund managers who each will present an overview of theirfirm, fund strategy, risk management approach and market outlook to anaudience of fund of funds, family offices, institutions and high net worthindividuals from around the world. The forum will be held on September 25th,2008 at the St. Andrew's Club & Conference Centre in Toronto, Ontario,Canada.
About BMO Capital Markets:
BMO Capital Markets is a leading full-service North American financialservices provider, with over 2,400 employees operating in 14 North Americanoffices and 26 worldwide, offering corporate, institutional and governmentclients access to a complete range of investment and corporate bankingproducts and services. BMO Capital Markets is a member of BMO FinancialGroup (NYSE, TSX: BMO), one of the largest diversified financial servicesproviders in North America with more than US$377 billion total assets andmore than 37,000 employees as at April 30, 2008.
BMO Capital Markets is a recognized leader in Canadian Prime BrokerageServices. They were the first full service Prime Broker in Canada and havemaintained their leadership position since the early 1990s. They provide anextensive range of products and services to hedge funds in Canada and theUnited States, including Clearing & Custody, Securities Lending, Financing,Reporting, Research and Trade Execution.
BMO Capital Markets also provides a number of value-added solutions to hedgefunds and structured product managers. Equity derivative strategies areavailable to add leverage, facilitate alpha transport structures and improveefficiency of after-tax returns at the fund level and/or the end investorlevel. A full range of FX, interest rate and credit derivatives are offeredto add flexibility and hedging capabilities for portfolio managers. Theyprovide these solutions for North American and international funds andinvestors.
About Sprott Asset Management:
Founded in August 2000, Sprott Asset Management Inc. (SAM) a wholly ownedsubsidiary of Sprott Inc., is a fund company dedicated to achieving superiorreturns for its investors over time. SAM is registered with the InvestmentIndustry Regulatory Organization (IIROC) of Canada as an investment dealer,equities and managed accounts and is also a member of the Canadian InvestorProtection Fund (CIPF). SAM has a history of offering investment managementservices to corporations, institutions and high net worth individuals forover 27 years under the umbrella of Sprott Securities Inc., prior to itspermanent separation into an asset management company. Currently, SAMmanages various long/short equity strategies, mutual funds and managedaccounts.
With the input from its investment professionals, the decision makingprocess at SAM encompasses a rigorous set of standards. Its team ofportfolio managers, together with the support of its research team, considerthemselves "investment opportunists", committed to seeking out the "bestideas" for its investors. Taking a consistent, disciplined approach toinvesting, based on sound fundamental analysis and independent research, theinvestment team at SAM carefully explores, analyzes and selects what theyconsider to be a portfolio of the "best ideas" that equity markets have tooffer.
SAM Funds are guided by an investment discipline focused on balancing riskto achieve outstanding returns. Accordingly, they have a "defensive" stylewhere even though they have the ability to use leverage in its Funds, theytypically choose not to do so other than short sales in certain SAM Fundswithin specified limits. Its primary objective is to achieve long-termcapital appreciation by investing in equities with superior risk/rewardcharacteristics and by capitalizing on undervalued investment opportunities.SAM strives for exceptional performance and returns rather than attempt tomirror or follow the market indices.
About Introduction Capital:
Introduction Capital is a boutique firm that brokers strategic businessrelationships between sophisticated global investors and Canadian hedge fundmanagers. The firm tracks over 100 hedge funds in Canada and offers globalinvestors the perfect place to "start" their Canadian manager search.Introduction Capital encourages offshore investors to visit Canada bycreating full manager meeting itineraries on their behalf. Over $150 millionin investor capital has been introduced to Canadian hedge fund managersthrough Introduction Capital since it was founded in 2004 by Karen Azlen.Introduction Capital is a member of the Canadian Chapter of AIMA and isregistered with the Ontario Securities Commission as a Limited MarketDealer.
Attendance to the forum is by invitation only with limited seating. Forinquiries, information on attending or interview requests please contactKaren Azlen, CEO, Introduction Capital Inc. at 416-849-1927 ork.azlen@introcap.com. Please visit our website at www.introcap.com.
Tampa Tribune – Yahoo is recounting the shareholder vote for its board of directors after discovering that a tabulating firm failed to register the opposition of a major investor.
The revision won’t change the outcome of Friday’s election, which retained Yahoo’s incumbent directors despite shareholder anger about the board’s handling of a now-withdrawn $47.5 billion takeover bid from Microsoft Corp.
However, the change will add a little more punch to the protest against the Yahoo board. The directors re-elected last week had been supported by at least 78 percent of the votes cast, based on the original results.
"It’s important for Yahoo’s board to understand there is still pressure on them," said Eric Jackson, a hedge fund manager who represents a group of stockholders with about 3.2 million Yahoo shares. "I thought Yahoo’s board was kind of let off the hook last week when they didn’t really deserve to be."
Capital Research Global Investors, which owns a 6.2 percent stake in Yahoo, lodged the inquiry Monday that resulted in the election recount. Convinced that its opposition to Yahoo’s board wasn’t reflected in last week’s vote, Capital Research demanded an audit from Broadridge Financial Solutions, the processing firm responsible for casting its ballot.
West Palm Beach (HedgeCo.net)- Security Global Investors (SGI) announced a strategic initiative to intensify its capital raising efforts for alternative global equity product offerings. The performance, transparency of the process and a 13-person investment team has garnered attention from hedge fund investors.
The company’s accelerated effort coincides with the hiring of industry veteran Sanjay Yodh to focus on the firm’s global alternative products. Yodh has more than a decade of institutional sales experience with J.P. Morgan and Deutsche Asset Management.
"Our experience and focus on risk management makes SGI’s alternative products especially attractive for institutional investors in today’s volatile markets,” noted Yodh.
Team leader John Boich, with more than 17 years experience in successfully managing global equity portfolios said,“We’ve always had a skilled team, a well-defined process, and competitive risk-adjusted performance track record.”
SGI has been managing institutional assets since 1962 and currently has approximately $9 billion in assets under management. The global equity team manages a Global Long Only (GLO), A Global Long / Short Long-Biased (GLS), and is launching a new Global Market Neutral strategy (GMN) this year.
