Triangle Business Journal – Chapel Hill, which over the years has become the home base of choice for money managers of all stripes, has a new hedge fund.

Raven Rock Capital launched September 1 with at least $7.6 million under management, according to a Securities & Exchange Commission filing. The online publication Hedge Fund Alert put the figure at between $10 million and $20 million.

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Tags: exchange commission, hedge fund, money-managers

IndexUniverse.com – The New York-based ETF provider today filed papers with the Securities & Exchange Commission for three actively managed ETFs: the WisdomTree Real Return Fund, the WisdomTree Managed Futures Fund and the WisdomTree Long-Short Fund.

The Long-Short fund will pair positions in WisdomTree’s own dividend and profits-weighted ETFs against positions in comparable cap-weighted ETFs. The filing notes that WisdomTree’s fundamentally weighted ETFs “have the potential to outperform” traditional cap-weighted indexes, and this fund aims to capitalize on that potential. The Long-Short fund will be market neutral, holding equal long and short positions, aiming to deliver consistent returns regardless of market direction.

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Tags: amp, consistent returns, dividend, exchange commission, futures fund, indexes, managed futures, market-direction, profits, rsquo

Examiner.com – David Kotz, Securities and Exchange Commission Inspector General, told the U.S. House Committee on Financial Services last week he was determined to learn "the reasons for the SEC’s apparent failure to act" on repeated warnings about Bernard Madoff’s massive $50 billion Wall Street swindle.

The SEC had first been warned about Madoff in 1999 and again in greater detail in 2005 by Harry Markopolos, a Boston accountant and securities consultant.  Markopolos noted several dozen "red flags" in a 19-page memorandum he prepared for the SEC that should have triggered agency interest in Madoff’s ponzi scheme.

Markopolos, a former U.S. Army Special Operations commander who led clandestine teams in Europe and Africa in the mid-1990′s, had made it easy for SEC officials by titling his 2005 report The World’s Largest Hedge Fund is a Fraud. 

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Tags: accountant, apparent failure, army special operations, bernard madoff, boston, david kotz, europe, exchange commission, fraud, house committee on financial services, inspector general, page memorandum, ponzi scheme, red-flags, sec officials, swindle, u s army, wall street