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.
Explore the most informative hedge fund articles and take the news with you, using HedgeCo RSS.
Still want more? Browse the hedge fund blogs, authored by hedge fund industry experts.
Cayman Net News - In a landmark decision the Cayman Islands Court of Appeal has settled various questions on the suspension of redemption. The ruling (December 12, 2008) in the Strategic Turnaround Master Partnership (based in New York) versus Culross Global case specifically defined the meaning of redemption in an investment fund context and at what point a member is actually redeemed from an investment fund.
After examining the articles of association, the Court of Appeal found redemption did not take place on the redemption date but was a process which was not completed until the member’s name was removed from the register of members and the member’s shares were available for re-issue.
Given the investment climate and the rash of redemption requests, the court’s decision is important to directors, administrators, auditors, legal advisers and other third parties involved in the determination of the rights and liabilities of investment funds and investors.
Investment Week - Castlestone Management is set to launch a hybrid fund investing in both equities and hedge funds.
The group claims managed futures have maintained decent returns throughout the market turmoil and predict the asset class will work well in tandem with equities, which have yet to see a turnaround.
Managed futures use trading processes to access the global futures markets.
Castlestone is currently testing the market appetite for the Defensive Equity fund, with a view to launching the vehicle at the end of January.
New York Post - After months of falling financial stocks and rising oil prices, July’s sudden turnaround was a welcome relief to average investors.
Not so for hedge funds - including subprime-mortgage superstar Phil Falcone.
That’s because a number of smart-money investors, including Falcone’s Harbinger Capital Partners, got slammed when oil took an unexpected dive, and Wall Street stocks suddenly popped in mid-July.
It was the exact reversal of otherwise long-winning bets that energy prices would continue to climb and financial firms would keep getting pummeled.
"July will be bad in aggregate for the hedge fund industry," said Veryan Allen, who advises large investors on hedge funds. "The short squeeze in financial stocks and the oil selloff has hurt quite a few," he said.
Fort Worth Star Telegram- Citadel Investment Group is bullish on RadioShack, buying 6.9 million shares, or 5.3 percent of the electronics retail chain’s stock, according to a federal filing Monday.
With the purchase, the Chicago-based hedge fund becomes the fourth-largest holder of RadioShack stock — but the only one of the top seven that has been buying, not selling.
Why RadioShack, which is attempting a turnaround?
Citadel wouldn’t say. "We don’t comment on positions," spokeswoman Katie Spring said.
The filing with the Securities and Exchange Commission indicated that Citadel was not contemplating a takeover. Rather, reports described the purchase as a passive investment with no intent of influencing the company.