Monthly Archives: January 2009
Has the moment for greater UK hedge fund regulation passed?
Reuters – Tuesday’s grilling of UK hedge fund executives is likely to create plenty of noise but produce little in the way of new rules. While media-shy TCI founder Chris Hohn and others will face tough questions from the Treasury Select Committee […]
Royal Bank of Canada Sued Over Failed Hedge Funds
Bloomberg – Royal Bank of Canada, the country’s biggest bank by assets, was sued by investors in Olympus United Funds who claim they lost more than $90 million in the funds’ collapse. Royal Bank, based in Toronto, “secretly managed” the […]
Colombia, Venezuela form $200 million fund to boost trade
Jamaica Gleaner – The presidents of Colombia and Venezuela pledged Saturday to invest US$100 million each in a special fund in hopes of boosting cross-border trade as the world economic crisis slashes global demand for their exports. The cash will […]
Treasury Select Committee turns the spotlight on hedge funds
Times Online – They are the financial world’s most secretive and unaccountable men — but also among its wealthiest and most influential. Today, four of the sharpest speculators in the hedge fund industry will be thrust into the spotlight when […]
Elliott Hedge Fund Bought Fictitious Securities From Dreier
Bloomberg – Elliott Management Corp., the $12.8 billion hedge-fund firm founded by Paul Singer 32 years ago, told clients that it bought securities from Marc Dreier, the New York lawyer jailed for alleged fraud. Elliott lost money on promissory notes […]
Education endowments put more with hedge funds
Universities and schools put more money into alternative investments like hedge funds in fiscal 2008, researchers reported on Tuesday. The Commonfund Institute, a group that polled 628 educational endowments on their investment tastes, found their appetite for alternatives increased slightly […]
New York Exec Nailed for Alleged $400 Million Ponzi Scheme
New York (HedgeCo.Net) – Nicholas Cosmo, head of New York-based Agape World Inc., has been arrested for allegedly running a $400 million Ponzi scheme. His company, which marketed commercial bridge loans, was not registered with the U.S. Securities and Exchange […]
Royal Bank of Canada Sued Over Failed Hedge Funds
Bloomberg – Royal Bank of Canada, the country’s biggest bank by assets, was sued by investors in Olympus United Funds who claim they lost more than $90 million in the funds’ collapse. Royal Bank, based in Toronto, “secretly managed” the […]
Caledonian Global Fund Services Achieves SAS 70 Certification
GEORGETOWN, GRAND CAYMAN – January 26, 2009 – Caledonian Global Fund Services, a provider of specialized administration services to the alternative investment industry, today announces the completion of its SAS 70 Type I certification. SAS 70, or Statement on Auditing […]