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.
Time – Here’s one upside to a down market: a number of historically prominent mutual funds that long ago shut their doors to new investors are reopening.
It’s been years since anyone without an existing account could put money into some of the best-known names in the business, like Sequoia Fund, Dodge & Cox Stock, Longleaf Partners, Fidelity Magellan, Artisan Mid Cap Value, Oakmark Equityand Income, Vanguard International Explorer and Third Avenue Small-Cap Value.
Tacoma News Tribune – Changes in winning and losing investments have come so swiftly of late that you might not have realized your favorite approach has backfired lately.
International funds – the hot funds of the last few years – have turned more disappointing than U.S. stock funds. Gold has lost its luster or, more precisely, more than $200 since reaching more than $1,000 an ounce a few months ago. Oil is in a bear market – a decline of 20 percent or more. Small-cap funds, which typically would be shunned during rough economic times, have been on a roll.
The last few weeks have shown why financial planners try to discourage clients from loading up on a few winners while discarding everything else. They know that changes in cycles can come quickly, and without warning, turning winners into losers and vice versa.
Many analysts are confessing their surprise at the twists of the last few weeks. It now appears that the globe is not immune from U.S. economic problems, although that was a favorite theory until a couple of months ago.
Investment Week- Collins Stewart Fund Management has appointed Mike Brown as head of fund sales.
He will lead sales of the multi-asset, multi-manager funds and specialist equity, fixed interest and hedge funds from the offshore group.
Products under his remit will include Collins Stewart’s European, UK value, Absolute return bond and UK small cap funds.
He brings over 22 years’ experience, joining from Investec, where for the last eight years his responsibilities have included distribution into the UK, Middle East, the Channel Islands, other offshore centres, Scandinavia and the Americas.
Black Enterprise- Naeem Holding, Egypt’s second-largest investment bank by market value, will start a 100 million Egyptian pound ($19 million) fund to buy stakes in firms planning public listings, its chief executive said on Wednesday [June 18].
The fund would buy stakes in up to eight companies in its first year ahead of their listing on Nilex, Egypt’s stock exchange for small and medium sized companies, Hany Tawfik told reporters. Naeem would finish raising money for the fund by mid-July, he said.
"The growth for small-cap funds generally outperforms other funds," Mr. Tawfik said.
