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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Tags: 50-million, academy awards, best picture, capital-management, founder-of-singapore, hedge-fund-manager, india, indian equity markets, jai, millionaire, millionaires, orphan, poverty, tudor investment, victory

Blueridgenow.com – Hedge funds have been in the news recently, usually with a watered down description of the characteristics of these investment vehicles. Most folks know that Chelsea Clinton works for a hedge fund (Avenue Capitol), and that John Edwards pulled down a hefty $500,000 consulting fee from another hedge fund, Fortress Investment Group. The odious George Soros, a contributor to hard left political groups, manages a hedge fund called Quantum Fund.

Edwards said he wanted to learn more about poverty. And where better to learn about poverty than working for an investment company that requires its clients to have at least a million dollars net worth (Since then, Fortress has navigated enough legal hurdles to offer its services to the general public through a listing on the New York Exchange, but that’s unusual.)

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Tags: chelsea clinton, contributor, fortress-investment-group, george soros, investment-company, investment-vehicles, john edwards, legal hurdles, million dollars, net worth, new york exchange, political groups, poverty, quantum fund