Monthly Archives: January 2012
News Roundup: 7 Hedge Fund Managers and Analysts Charged
“New York (HedgeCo.net) – Obama’s financial fraud task force yesterday unveiled a hedge fund fraud case involving a “club” of high profile NY men, charged with insider trading involving computer company DELL. Of those seven, three people have been arrested, one […]
Fund manager Fidelity attacks executive pay and bonus bonanza
Guardian – Fidelity, one of the biggest investors in the stock market, has spoken out against “over-generous” and “over-complex” boardroom pay and called for shareholders to be given extra powers to vote down cash and share deals. In a move […]
Goldman Sachs Asks for Arbitration in Basis Yield Hedge Fund Lawsuit
Bloomberg – Goldman Sachs Group Inc. (GS) asked a New York state court judge to order arbitration in a lawsuit against the investment bank by Basis Yield Alpha Fund or dismiss the complaint. Basis Yield Alpha Fund, a unit of […]
Man Group Steps Up Cost Cuts as Funds Under Management Fall
Bloomberg – Man Group Plc, the world’s largest publicly traded hedge fund, will reduce pay and eliminate jobs in a plan to reduce costs by about 10 percent as market turmoil prompted clients to withdraw money. The $75 million of […]
Island’s hedge fund industry boosted by increased regulation post Madoff/crisis
Royal Gazette – Bermuda is gaining from heightened regulation of hedge fund managers in Europe in the wake of the Madoff fraud case and global financial crisis. A report by HedgeCo Networks cited Business Bermuda CEO Cheryl Packwood as saying Bermuda’s […]
Hedge Fund Association On The EU Financial Transaction Tax
New York (HedgeCo.net) – The proposed European Union financial transaction tax (FTT) could lead to a significant decrease in cross-border trading of financial instruments in the EU, undermining the single market, according to the Alternative Investment Management Association (AIMA), the […]
Hedge Fund Launches: The Pyxis Alternative Income Fund
New York (HedgeCo.net) – Pyxis Capital, L.P.has launched the Pyxis Alternative Income Fund. Anchor Capital Management Group, Inc. (“Anchor Capital”) will serve as the fund’s sub-advisor. “The Pyxis Alternative Income Fund offers mutual fund investors a strategy that until recently […]
Two Hedge Fund Employees Said in Custody in Insider Probe
Bloomberg – Two hedge-fund employees are in custody in the U.S. probe of insider trading that has already snagged Galleon Group LLC co-founder Raj Rajaratnam, and about 50 others, according to a person familiar with the matter. One person was arrested in […]
Former Hedge-Fund Manager Chiasson Sought by FBI
WSJ – Federal authorities tried to arrest a former hedge-fund executive at his Manhattan home before dawn Wednesday, expanding an insider-trading investigation to directly involve one of Wall Street’s most prominent money managers. Anthony Chiasson wasn’t home when Federal Bureau […]
FBI Makes More Wall Street Corruption Arrests in Insider Trading Probe
NBC – The FBI has made another round of arrests of Wall Street traders as part of an ongoing corruption probe that authorities have considered one of the most extensive insider trading investigations in history. At least two traders, including […]
Hedge funds threaten to upend Greek deal
UPI – Five hard-line hedge funds threatened to block a final effort to save Greece from default unless they get an ample bond payout, debt-restructuring sources said. New York’s York Capital Management, Marathon Asset Management and Och-Ziff Capital Management Group, […]
Losses at AHL hedge fund saw Man Group assets fall last quarter
Investment Europe – Man Group reported a fall in assets of $6.1bn last quarter, bringing total funds at the diversified fund manager to $58.4bn, led by sharp falls in the combined assets of its systematic AHL hedge fund. Peter Lenardos, […]