Monthly Archives: January 2017
ITG Paying $24 Million for Improper Handling of ADRs
(HedgeCo.Net) The Securities and Exchange Commission today announced that broker ITG agreed to pay more than $24.4 million to settle charges that it violated federal securities laws when it prompted the issuance of American Depository Receipts (ADRs) without possessing the […]
x-Visium Trader Tells New York Jury How he Turned Whistleblower
(Reuters) A former trader at Visium Asset Management LP testified on Thursday about how he turned whistleblower and helped U.S. authorities investigate whether the value of the holdings of one of the firm’s hedge funds had been fraudulently inflated. Jason […]
AMP Capital Holds Final Close For $2.4B Infrastructure Platform
(FinAlternatives) Australian alternative investment manager AMP Capital has closed its global infrastructure platform with $2.4 billion in capital commitments from more than 50 institutional investors. To read this article:
Citadel Nears SEC Settlement Over Customer Orders
(Reuters) Citadel LLC has agreed to settle accusations by the U.S. Securities and Exchange Commission that its market-making arm misled customers about the routing of their stock orders, people familiar with the case told Reuters this week. SEC commissioners were […]
Icahn Hedge Fund Loses 20% of Its Value in 2016
(Barron’s) Billionaire Carl Icahn is coming off another poor investment year as a nearly $6 billion hedge fund that he oversees suffered a loss of 20.3% in 2016 after a decline of 18% in 2015, according to a disclosure in […]
Elliott Discloses 8.3 Pct Stake in Advisory Board
(Reuters) Elliott Associates LP, a unit of activist hedge fund Elliott Management Corp, disclosed an 8.3 percent stake in Advisory Board Co, saying the company’s stock was “significantly undervalued”.Shares of Advisory Board, which provides research and software tools as well […]
Scaramucci, Hedge-Fund Show Impresario, Scores White House Role
(Bloomberg) Anthony Scaramucci, founder of SkyBridge Capital, has been named an assistant to President-elect Donald Trump, according to people familiar with the decision. Scaramucci will have a general advisory role in the White House, said the people who asked not […]
To List or Not to List? Manager IPOs Shown to Hurt Hedge Fund Returns
(IPE.com) Hedge funds run by listed companies underperform those run by privately owned firms, according to academic research. Listed firms gained $3.5m (€3.3m) more in revenue than privately owned companies and gained more assets under management, despite their under-performance… To […]
Will the Dow Jones Industrial Average break the 20,000 mark?
(Harvest) Since the surprise win by President-elect Trump, investors are betting his economic proposals, which include massive corporate tax cuts, infrastructure spending and financial and environmental deregulation, will spur higher levels of economic growth. But some market watchers are worried […]
Demand for Japan Hedge Funds Both Slow And Fast At the Same Time
(Opalesque) The demand for Japan hedge fund is both slow and fast at the same time, said Alex Kinmont, CEO of Milestone Asset Management. Speaking at the latest Opalesque Japan Roundtable, Kinmont pointed out that the big U.S. endowments have […]
Expecting Volatility in 2017? A Case for Diversifying
(Harvest) Optimism is surging. Consumer confidence recently hit levels not seen since 2001. Investor sentiment is also up, according to the fourth-quarter Wells Fargo/Gallup Investor and Retirement Optimism Index, which reached a nine-year high at +96, up from +79. The […]
Visium Jury Told Bond Trader Lied to Boost Fund’s Numbers
(Bloomberg) U.S. prosecutors said portfolio manager Stefan Lumiere cheated investors at Visium Asset Management LP by inflating the value of distressed-debt holdings in the hedge fund’s credit portfolio, as his securities’ fraud trial began Wednesday. “For years, Lumiere corrupted the […]