Monthly Archives: February 2011
Hedge Fund Launch: Merchant Capital to Launch Proprietary FX Trading Package
New York (HedgeCo.net) – The asset management division of Merchant Capital, a subsidiary of Merchant House Group PLC, has today announced that it will launch a FX proprietary trading package this month, Merchant Capital FX, in association with Hotspot FX, […]
Kurland To Pay $4.4 Million In Hedge Fund Fraud Settlements
New York (HedgeCo.net) – Mark Kurland, a former partner at hedge fund New Castle Partners is to pay $4.4 million to settle allegations of insider trading, a regulatory filing has revealed. Kurland was one of a number of executives working […]
Shumway to Return Client Cash in $8 Billion Fund by End of March
Bloomberg – Chris Shumway, who announced he would step down as chief investment officer of his $8 billion Shumway Capital Partners LLC in November, said he’ll return client capital by March 31, according to a letter sent to investors. Shumway, […]
Former regulator pans hedge fund reporting plan
Reuters – A proposal requiring hedge fund advisers to turn over large amounts of data to regulators is burdensome and too costly, a former U.S. securities regulator said on Saturday. Paul Atkins, who served as a commissioner at the Securities […]
Primary Global Consultant Passed Tips to Hedge Funds, SEC Says
Bloomberg – A Primary Global Research LLC consultant facing federal insider-trading charges spoke with at least 11 hedge funds over 14 months and leaked stock tips to some of them, regulators said. Walter Shimoon, a former Flextronics International Ltd. manager who worked […]
Sabre adds Ucits mirror of hedge fund to armoury
Fund Strategy – The Sabre All Weather fund, a Luxembourg Sicav, mirrors the Cayman Islands domiciled fund, which was launched in 2002. Unlike the hedge fund, which carries a minimum investment of £250,000, the All Weather fund has a minimum […]
Mid-sized Asia hedge funds poised for big boost
Sify – Mid-sized Asian hedge funds are poised to receive major money inflows this year, as some of the region’s biggest managers shut doors to new investors on fears that running bulky portfolios could harm returns. Industry tracker Eurekahedge estimates […]
Guy Albert de Chimay Pleads Guilty To $7 Million Hedge Fund Scheme
New York (HedgeCo.net) – Former New York hedge fund manager, Guy Albert de Chimay, pleaded guilty this week to grand larceny and running a $7 million Ponzi scheme. He was arrested in June, 2010, in North Carolina and charged with securities […]
6 Charged In Hedge Fund Insider Trading Case
New York (HedgeCo.net) – The SEC yesterday charged Mark Anthony Longoria, a manager at A.M.D.; Daniel L. DeVore, a manager at Dell; Winifred Jiau, a consultant with insider information about Marvell Technologies, and Walter Shimoon, an executive at Flextronics International. […]
SEC Sues Expert Network Consultants for Giving Insider Tips to Hedge Funds
Bloomberg – The U.S. Securities and Exchange Commission said it sued six expert network consultants and employees for insider trading by tipping hedge funds and other investors to generate nearly $6 million. The information was disclosed in an e-mailed statement. Four employees […]
Bernard Madoff: JP Morgan warned UK authorities before confession
Guardian – The UK’s Serious Organised Crime Agency (Soca) was warned about Bernard Madoff in October 2008, two months before the fraudster confessed that his investment empire was a sham, according to a lawsuit unsealed in New York. The allegation was […]
Actelion up as hedge fund calls for board shake-up
Reuters – Actelion shares rose 3.5 percent on Friday after hedge fund shareholder Elliott Advisors called for its chairman and chief executive to resign from the board in a push for a sale of the Swiss biotech firm. The shares have […]