Monthly Archives: May 2011
Shumway said to invest $200 million in funds of two ex-employees
Stamford Advocate – Chris Shumway, who returned client capital this year from his $8 billion hedge fund, is providing $100 million each to two former employees who are starting their own firms, according to three people familiar with his plans. Ashwin […]
Failed hedge fund fraudster gets four years in jail
The Star – Boaz Manor, convicted of defrauding thousands of investors in a Toronto-based hedge fund once worth $800 million, has been sentenced to four years in jail. The sentence was handed down Wednesday morning by Justice Ian Nordheimer of the […]
Prominent hedge fund manager calls for Microsoft’s Ballmer to step down
Apple Insider – Influential hedge fund manager David Einhorn called Microsoft CEO Steve Ballmer “the biggest overhang” on the company’s stock at an investment conference on Wednesday, saying he should step aside and “give someone else a chance.” Einhorn serves […]
Highland Capital Management Responds to Lawsuit from Houston Municipal Employees Pension System
Highland Capital Management, L.P., a Dallas-based, SEC-registered investment adviser with approximately $23 billion in assets under management issued the following response to a lawsuit from the Houston Municipal Employees Pension System: Highland Capital believes this lawsuit is both without merit […]
Oil Trade and Hedge Fund Fines Hit $200 Million in 2010
New York (HedgeCo.net) – Yesterday, the U.S. futures regulator sued two oil traders and their employers, the Arcadia and Parnon Energy Firms, charging they booked $50 million in profits by manipulating oil prices in 2008, according to a Reuters report. “The U.S. […]
Hedge Fund Assets Cross $1.81 Trillion
New York (HedgeCo.net) – Hedge funds delivered another month of strong returns aided by favourable market conditions in April 2011 and rallies in underlying markets, according to the May 2011 Eurekahedge Report. Total net flows for the first four months […]
Euro drops on Greece jitters, eyes key support
Reuters – The euro fell on Wednesday, as investors including hedge funds cut bullish bets on mounting worries over Greece’s finances, with many traders expecting the single currency to test key support levels on charts. Speculative selling of the euro […]
China seen as the candidate for ‘next catastrophe’
Telegraph – Mr Zuckerman’s book was one of the first to reveal the billions in profits which hedge funds and banks from taking bets against the sub-prime market just before the housing bubble burst. China, where the economy has expanded […]
IKOS Says Investigation of Former Workers Was ‘Legitimate’
Bloomberg – IKOS Asset Management Ltd., the hedge fund whose founders Elena Ambrosiadou and Martin Coward are divorcing, said it used “legitimate investigative efforts” on former employees. IKOS started the probe after discovering software had been copied without permission, the […]
New Mexico ERB to approve new hedge fund allocations
HFMWeekThe $9.2bn New Mexico Educational Retirement Board (ERB) is set to approve allocations to two new hedge funds this week, as part of its new 20% opportunistic portfolio. The investment committee is due to approve new investments to the Waterfall […]
GM Falls Out of Favor With Hedge Funds
Bloomberg – General Motors Co. (GM), one of the 10 most popular stocks for hedge funds at the end of last year, fell out of favor in the first quarter as slower growth in China and discounts in the U.S. […]
Apple, Rivals Matter Most to Hedge Funds
The Street – According to Goldman Sachs’ first-quarter Hedge Fund Trend Monitor, which dissects 700 hedge funds with $1.25 trillion in equity assets, Apple ranks as the No. 1 “must-have” stock. While billionaire George Soros dumped nearly 100,000 shares of Apple […]