Bloomberg – Helios Capital Management Pte, the hedge-fund manager once backed by Tudor Investment Corp., plans to start a “Slumdog Millionaire” fund that will buy underperforming shares of Indian companies.

“We want to find slumdogs from the Indian equity markets who have the potential of becoming millionaires,” Samir Arora, founder of Singapore-based Helios Capital, said in an interview.

The firm plans to raise about $50 million by the end of July for its long-only Helios India Jai Ho Fund, Arora said. “Jai Ho,” which means “victory” in Hindi, is the Oscar- winning theme song from “Slumdog Millionaire,” a feel-good tale of a Mumbai orphan’s escape from poverty that scooped eight Academy Awards, including best picture, this year in Los Angeles.

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Reuters – A U.S.-based trade group for hedge funds has urged the Bank of England to step in and speed up the freeing up of assets frozen in the collapse of Lehman Brothers Holdings Inc, saying it has become "an issue of very substantial systemic significance."

Richard Baker, a former U.S. congressman who heads the Managed Funds Association (MFA), said the lock-up of Lehman assets threatens British prime brokerage businesses and "will exacerbate systemic risks if not handled properly."

He made the plea in a letter dated Oct. 13, sent to the British central bank’s governor on the eve of a meeting between the administrators of Lehman Brothers International (Europe) (LBIE) and UK regulators.

Baker also said the current process is adding more uncertainty to global markets and that expediting the return of assets will give the market "a much needed boost of liquidity and confidence."

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