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Moneycontrol.com - Samir Arora, Fund Manager, Helios Capital, said the markets are too volatile to predict yet, but we may be close to the bottom. "The fall in markets may be getting over, but it may take months to recover. There is a reasonable prospect of a rally in December."
He feels the market recovery should start in the second half of FY10 post the elections.
Globes - Priority Investments Ltd.’s Israeli hedge fund index, Hedge Fund Priority Index (HFPI) fell 0.85% in July, compared with a 4.66% drop by its benchmark, the Tel Aviv 25 Index. However, the Hedge Fund Research Inc. (HFRI) fund weighted composite index fell 2.17% compared with a 0.98% drop by the S&P 500 Index.
During the first half of July, high oil prices continued to trouble the US economy, and weighed down financial stocks, which weakened the dollar against other currencies. The US government bailout of Fannie Mae (NYSE: FNY) and Freddie Mac (NYSE: FRE), plus the restrictions placed on short sellers, contributed to gains in the second half of the month.
International Herald Tribune - Blackstone Group, manager of the world’s largest leveraged-buyout fund, said Wednesday that second-quarter profit beat analysts’ estimates as gains from hedge funds offset a decline in private-equity takeovers.
Net economic income, a measure that excludes some compensation costs, fell 75 percent to $165.6 million, or 15 cents a share, from $655 million, or 58 cents, a year earlier, the New York-based Blackstone said. That exceeded the average estimate of 8 cents a share by 10 analysts in a Bloomberg survey. Revenue declined 63 percent to $353.7 million.
Blackstone’s fees from buying and selling companies have plunged as buyouts of more than $2 billion dried up and initial public offerings fell to their lowest in four years. Investors backed away from the debt used to finance LBOs in the fallout from the collapse of subprime-mortgage securities in the second half of last year.
CNNMoney.com- An equity investors study by Greenwich Associates showed trading volume generated by hedge funds surpassed mutual funds last year and now ranks second only to traditional asset-management shops.
The financial-consulting firm said the influence of hedge funds as a way of generating equity trading has helped Merrill Lynch & Co. (MER) and other firms " solidify" their standing as top U.S. brokers in terms of market share.
"Although the second half of 2007 was something of a wild ride, hedge-fund performance for the year was relatively strong, and from a U.S. equity trading perspective, hedge funds were extremely active," said Greenwich consultant John Feng.