Monthly Archives: February 2009
Big Madoff Investors Targeted
Financial Times – The trustee charged with tracking down money for victims of Bernard Madoff’s alleged $50bn Ponzi scheme will target big investors – such as hedge funds – that pulled "substantial amounts" of "false profits" out of the broker’s […]
Yahoo CFO says not opposed to search sale
Reuters – Internet firm Yahoo Inc is "not opposed" to doing a deal that would potentially sell its search business, Chief Financial Officer Blake Jorgensen said on Wednesday. But he said the search business is deeply intertwined with Yahoo’s other […]
Fed $1,000bn financing plan nears launch
Financial Times – The US Federal Reserve will launch its financing programme, worth up to $1,000bn, for consumer and business loans in the coming days, amid concerns that hedge funds might find it difficult to take advantage of the scheme. […]
Hedge fund founder used phony firm, returns: authorities
Reuters – A hedge fund manager overstated values by hundreds of millions of dollars, set up a phony accounting firm and showed uniformly positive returns for nine years to defraud investors, U.S. authorities said on Wednesday. James Nicholson, 42, founder […]
Rasmala Launches 2 Saudi Funds
West Palm Beach (HedgeCo.net) – The Saudi Capital Market Authority has approved Rasmala Investments request to launch two Saudi Equity funds. One of the funds ‘Rasmala Saudi Equity Fund’ will be managed according to the Shari’a guidelines approved by the […]
Hedge Funds Hold Up in January
West Palm Beach (HedgeCo.net) – Morningstar reported a summary of hedge fund performance for January 2009 as well as asset flows for 2008. As stocks and government bonds got clobbered in January, hedge funds held up relatively well, the report […]
PE fund sales get their own market
Reuters Blogs – It seems that private equity fund sales are heating up so much they need their own market. SecondMarket said today it is opening trading in limited partnership interests in private equity funds, venture capital funds, hedge funds and fund […]
Absolute-Return Funds Promise the Holy Grail
Bloomberg – Gather round, children, to hear about the investments you’ve been waiting for. They suggest that you might get positive returns in any economic climate, regardless of whether stocks are going up or down. Wait — don’t run! It’s […]
Costas, Hutchins Said to Reunite For Firm After Failed UBS Fund
Bloomberg – John Costas and Michael Hutchins, are reuniting to start a financial services firm after running UBS AG’s hedge fund Dillon Read Capital Management LLC, according to people familiar with their plans. Costas, 52, took over UBS’s investment bank in […]
Hedge Funds Steer Clear Of Eastern Europe
Forbes – 2008 was a bad year for hedge funds that invested in Eastern Europe and Russia, forcing many to abandon the region. A month into the new year, they are still steering clear of the market and waiting for […]
Small Caps Stand to Gain When Hedge Funds Jump Back In
Seekingalpha.com – To understand which segments of the U.S. equity market were most affected by hedge fund selling pressures late in 2008, a good place to look is 13F filings with the SEC. These are required from institutional investment managers […]