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.
Bloomberg – The Children’s Investment Fund Management UK LLP, a $9.5 billion London-based hedge fund, has about $1.2 billion of short positions in Japanese stocks including Toshiba Corp., according to exchange filings.
The fund, better known as TCI, has shorted 13 Japanese stocks, data based on exchange filings compiled by Bloomberg show. Mizuho Financial Group Inc., Japan’s second-biggest bank by revenue, and Sony Corp., the world’s second-biggest consumer- electronics maker, are also among the short positions.
The bets against Japanese stocks by activist fund TCI, which lost a proxy battle with Japanese utility Electric Power Development Co. last year, come as the Nikkei 225 Stock Average completed its worst fiscal year since March 2001, losing 35 percent. TCI’s fund fell 43 percent in 2008, as global hedge funds were battered by client withdrawals and the worst market losses since the 1930s.
Reuters – U.S. President Barack Obama’s $825 billion stimulus plan cleared its first Congressional hurdle as the Federal Reserve eyed more extreme measures to ease credit market strains, boosting Asian stocks despite deep skepticism that a global slowdown can be reversed quickly.
Signs of corporate distress were still obvious regardless of the passage of Obama’s bill through the House of Representatives, the first big legislative success of his new presidency.
Sony Corp followed fellow Japanese electronics maker Canon Inc with a dismal quarterly profit report on Thursday as the fallout grows from a global crisis which has already cost trillions of dollars and threatens millions of jobs.
West Palm Beach (HedgeCo.net)- Global fund of hedge funds (FOHF) group Financial Risk Management (‘FRM’), has hired Au King-lun, MH, PhD, as Chief Executive Officer of FRM Hong Kong.
"The firm has long been known for its strength in serving institutions and for its deep expertise in hedge funds." Dr Au said, "Asian investors are increasing allocations to hedge funds because of the absolute, uncorrelated returns and flexible investment strategies they can offer. FRM is in a strong position to deliver performance and products for this important and growing investor base."
With offices in Europe, Asia, North America and Australia, the new Hong Kong office is an effort to expand business efforts in Japan and Korea.
Dr. Au will join in September from HSBC, where he has been working for the past 11 years, most recently as Head of Institutional Business in Asia Pacific.
FRM opened its Hong Kong office in May 2008, building on its significant presence in Asia, including offices in Tokyo and Sydney, opened in 2000 and 2001 respectively. As one of the largest independent fund of hedge fund groups, FRM manages over $15 billion in assets for institutions and other sophisticated investors, including approximately 300 pension funds worldwide.
Dr. Au currently serves as Chairman of the Hong Kong Securities Institute and is a previous Chairman of the HK Investment Funds Association. In July Dr. Au was awarded the Medal of Honour (MH) by the Hong Kong SAR Government for his valuable contributions to the securities and asset management industry.
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
New York, NY – (May 29, 2008) – HedgeCo Networks and LJH Financial Marketing Strategies announced today a partnership to provide comprehensive marketing and investor relations services to the global hedge fund industry and related financial sectors.
The new partnership offers a comprehensive financial marketing platform designed to develop and manage hedge fund brands through the use of regulatory compliant collateral. HedgeCo-LJH specializes in website design and construction, corporate identity/logo design, marketing collateral, marketing research, thought leadership, and event support. Overall, the goal is to help clients raise assets and visibility.
“The HedgeCo-LJH partnership will allow clients to leverage the services of each firm to remain competitive in the alternative investment industry,” said Evan Rapoport, managing partner of HedgeCo Networks. “Hedge fund managers and operators are able to outsource their marketing needs to better focus on their core business.”
About HedgeCo Networks
HedgeCo Networks is a premier name in the hedge fund services industry, offering a vast selection of services and tools for hedge funds. Their flagship site, HedgeCo.Net, is a portal used daily by over 25,000 investors and hedge fund managers. Drawing on the experience used in creating and managing HedgeCo.Net, the HedgeCo Websites Team has designed over 150 websites for hedge funds and private equity firms of all sizes in the United States, Europe, Asia and Australia. Their newest tool, the Hedge Fund 2.0 Calculator, is used by hedge funds by compute statistics, graphs, and marketing materials within minutes.
About LJH Financial Marketing
LJH Financial Marketing Strategies’ exclusive focus is on the global financial services industry, with specialized knowledge of hedge funds, private equity and related financial sectors. Partnerships begin with a thorough research-driven analysis of goals and objectives, including competitive reviews and a hard look at positioning. Based on this in-depth review, a variety of cost-effective marketing strategies and tactics are implemented to help drive bottom-line results. LJH has unparalleled experience and deep-seated industry relationships that help clients raise assets and market visibility.
