Monthly Archives: March 2019
Hedge fund Appaloosa unimpressed by Allergan board promises
(Reuters) – Activist investor Appaloosa LP responded to proposed concessions from the board of Allergan Plc by saying it had done everything “except what needs to be done” and calling on other investors to take further “disruptive” steps to change […]
Hedge funds increase appetite for oil:
(Reuters) – Hedge funds bought another 65 million barrels of petroleum futures and options in the week to March 19, taking total purchases over the last 10 weeks to 384 million barrels, according to reports published on Friday.The one-week increase […]
CQS Hedge Fund Says Curve Inverting on Technicals Won’t Last
(Bloomberg) As sovereign bonds around the world continue their relentless climb and a closely watched segment of the U.S. yield curve inverts — seen as a harbinger of recession — the level of anxiety about the global economy can’t be […]
Merrill Lynch to Pay Over $8 Million for Improper Handling of ADRs
(HedgeCo.Net) The Securities and Exchange Commission has announced that Merrill Lynch, Pierce, Fenner & Smith Incorporated will pay over $8 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). ADRs – U.S. securities that represent foreign […]
PRECIOUS-Gold gains as U.S. recession fears lift safe-haven appeal
(Reuters) Gold prices firmed on Monday as concerns about a potential U.S. recession and decelerating global growth weighed on stock markets, which increased appetite for safer assets. To read this article:
Judge Advises Lampert’s Firm to Pay Back Millions Swiped from Sears
(New York Post)A bankruptcy judge has “strongly” advised the company that bought Sears out of bankruptcy to hand over millions of dollars to the old Sears. At a Thursday hearing, Judge Robert Drain weighed in on the contentious financial dispute […]
Allston Hedge Fund Manager Gets Lengthy Sentence in Ponzi Scheme
(Boston Globe) A hedge fund manager from Allston was sentenced Thursday to more than 14 years in federal prison for running a Ponzi scheme where he scammed millions of dollars from investors, officials said.Raymond Montoya, 70, was sentenced to 175 […]
JMP Group Sells 50.1 pct of JMP Credit Advisors to Medalist Partners
(HedgeCo.Net) JMP Group LLC (NYSE: JMP), an investment banking and alternative asset management firm, announced Friday that it has sold a 50.1% equity interest in JMP Credit Advisors LLC (“JMPCA”) to Medalist Partners LP, an alternative asset management firm specializing […]
SS&C GlobeOp Forward Redemption Indicator: March Notifications 3.49%
(Opalesque) The SS&C GlobeOp Forward Redemption Indicator for March 2019 measured 3.49%, up from 3.42% in February.”SS&C GlobeOp’s Forward Redemption Indicator for March 2019 was 3.49%, an uptick from the record low March redemptions of 2.91% reported for the same […]
Hedge Funds Extend Winning Streak to a Second Month, Says BarclayHedge
(Hedgeweek) Hedge funds extended their winning streak to a second month with a February return of 1.24 per cent, according to the Barclay Hedge Fund Index compiled by BarclayHedge. By comparison, the S&P 500 Total Return Index rose 3.21 per […]
Director Escapes Deutsche Bank after Bonuses Are Paid
(eFinancial) One swallow doesn’t make a summer and the disappearance of one single director from Deutsche Bank on the first day of spring may not herald a mass migration to rival banks. Nonetheless, coming as it does less than a […]
U.S. fund Elliott suffers crushing defeat in Hyundai proxy vote
(Reuters) – Investors in Hyundai Motor Group companies rejected on Friday Elliott Management’s demands for a massive special dividend and board seats, dealing a blow to the U.S. hedge fund’s campaign to shake up South Korea’s second-biggest family-run conglomerate. To […]