Monthly Archives: January 2009

Hermes puts Focus funds partnership plan on hold

January 8, 2009 : Permalink

Forbes – Hermes, the fund manager owned by the BT Pension Scheme, has put on hold plans to restructure its activist Focus funds following the significant underperformance of its main European fund, the firm said in a letter to clients.  […]

Universal banks winning battle for hedge business

January 8, 2009 : Permalink

Reuters – Broker-dealers such as Morgan Stanley and Goldman Sachs are losing out in the battle for hedge funds’ dwindling pool of assets, as funds seek out banks with diverse sources of funding in a major shake-up of prime broking. […]

Samberg’s Pequot Said to Face New SEC Insider-Trading Inquiry

January 8, 2009 : Permalink

Bloomberg – The U.S. Securities and Exchange Commission opened a new investigation into whether Pequot Capital Management Inc., the hedge fund run by Arthur Samberg, illegally profited in 2001 by tapping inside information on Microsoft Corp., two people familiar with […]

Speculators and Our Food: E-I-E-I-O!

January 8, 2009 : Permalink

The Austin Chronicle – Oh, this is just dandy! Hedge-fund schemers and Wall Street manipulators – the very characters who brought us the Great American Housing Collapse – have a new target for their fast-buck profiteering: farming. E-I-E-I-O! Speculators have […]

Millennium Outsources all Fund Managment to GlobeOp

January 8, 2009 : Permalink

West Palm Beach (HedgeCo.net) – Millennium Management LLC, a global multi-strategy investment management firm with over $11 billion in assets under management, has outsourced fund administration to hedge fund manager GlobeOp Financial Services. GlobeOp became administrator of record for all […]

Uma Thurman No Help to Arpad Busson in Madoff Fraud’s Nightmare

January 8, 2009 : Permalink

Bloomberg –  Arpad Busson is angry. He’s just looked at the latest returns of a hedge fund he used to invest in; it’s down more than 60 percent in the past nine months. “That a-hole!” Busson says of the New […]

NYU Granted Extension Amidst Madoff Losses

January 7, 2009 : Permalink

New York (HedgeCo.Net) – New York University scored a victory yesterday, when they won a court order that sought an extension on a temporary ban that would halt J. Ezra Merkin from making any more transfers with the school’s funds.  […]

Adolf Merckle, German tycoon who lost millions on VW shares, commits suicide

January 7, 2009 : Permalink

Times Online – One of Europe’s most influential industry magnates has thrown himself in front of a train after his business empire began to crumble. Adolf Merckle, the 74-year-old head of a conglomerate that employs thousands in Britain and elsewhere […]

Chairman of Hedge Funds Care to Ring the NASDAQ Closing Bell

January 7, 2009 : Permalink

West Palm Beach (HedgeCo.net) – President and Chairman of Hedge Funds Care (HFC), John Budzyna, will preside over the Closing Bell to mark the 11th Annual New York Open Your Heart to the Children Benefit to be held at Cipriani […]

Charities hurt in Madoff case get charity

January 7, 2009 : Permalink

MSNBC – Nonprofits that are struggling because their donors lost money with Bernard Madoff are getting a bailout — but not from the government. Richer foundations are stepping in to help. Human Rights Watch, The Center for Constitutional Rights and […]

Is now the right time for open source in hedge funds?

January 7, 2009 : Permalink

CNET News – I’ve blogged about Marketcetera before, a cool open-source hedge fund trading platform. Later this week I’ll be posting an update after I interview the Marketcetera team, but keep bumping into stories that make me wish the interview […]

Rival Launches RRSP Fund

January 7, 2009 : Permalink

West Palm Beach (HedgeCo.Net) – Cayman Island based hedge fund manager Rival Capital Management Inc., announced the launch of the Rival North American RRSP Growth Fund, an RRSP eligible fund that will invest in the current Rival North American Growth […]