Monthly Archives: May 2007
Hennessee Hedge Fund Index Up for April
Hennessee Group LLC, an adviser to hedge fund investors, announced yesterday that the Hennessee Hedge Fund Index advanced +1.92% in April (+5.44% YTD). “While the strong equity markets have been a wind at the back of hedge fund performance, most […]
Citigroup to target hedge funds, SMEs
Daily Times- Citigroup’s Asian transaction services group, which booked a $588 million profit in 2006, plans to increase staff by 11 percent this year and boost revenue by targeting more hedge funds and small and medium enterprises (SMEs). The Asian […]
SEC probes Fairfax claims on funds tactics
Financial Times- The Securities and Exchange Commission is investigating claims made in a high-profile dispute between Canadian insurer Fairfax Financial anda group of powerful hedge funds that the company says used underhanded tactics to drive down its share price, according […]
Managers Pay More to Compete with Hedge Funds
Financial News Online US- Fund managers are being forced to pay their brokers more in commissions to compete with hedge funds for the sellside’s best ideas and service. The findings are one of the unintended consequences of unbundling of commissions […]
Fortress Acquires East Coast Industries For $3.5 Billion
Hedge fund investor Fortress Investment Group LLC has acquired Florida East Coast Industries, Inc. (FECI) for approximately $3.5 billion, according to a press release. The merger agreement wasunanimously approved by FECI’s Board of Directors. Upon completion of the transaction, FECI […]
CBRE, Reech Launch First of 6 Property Hedge Funds
Reuters- Property services firm CB Richard Ellis and derivatives specialist Reech AiM said on Tuesday they planned to launch a global series of 6 property hedge funds worth a total of 2.4 billion pounds ($4.79 billion). The two groups said […]
Hedge funds have best April since 1999
MarketWatch- Hedge funds generated their biggest gains in more than a year in April as stock markets surged, especially in emerging markets. However, some managers are becoming more cautious as benchmark equity indexes hit records. An index compiled by Chicago-based […]
Edwards Discusses Time At Hedge Fund
Associated Press-Democrat John Edwards said Tuesday that he worked for a hedge fund between presidential campaigns to learn about financial markets and their relationship to poverty – and to makemoney too. In an interview with The Associated Press, the former […]
SEC Settles Against Zurich Hedge Fund With A $16 Million Penalty
The Securities and Exchange Commission announced a settled administrative proceeding against Zurich Capital Markets Inc. for its role in providing financing to hedge fund clients that engaged in market timing of mutual funds and facilitating the hedge funds’ deceptive trading […]
Daniel Moses Joins Longacre
Daniel Moses Joins Longacre Longacre Fund Management, LLC (“Longacreâ€Â) is pleased to announce that Daniel Moses has joined the firm effective, May 7, 2007, as a Managing Director with senior research analyst duties on Longacre’s distressed strategies and primary […]
Canadian Hedge Fund Launch
Goodman & Company Investment Counsel Ltd. announced the launch of the Dynamic Global Value Balanced Fund, a balanced fund offering global diversification. The fund highlights active hedging as risk management, minimizing sensitivity to interest rate and credit spread changes and […]
Zurich Pays $16.8m to Settle On Market Timing
Financial Times- Zurich Financial Services agreed Monday to pay $16.8m to settle allegations that its New York-based capital markets arm provided funding to four hedge funds that engaged in impropermarket timing of mutual funds. The US Securities and Exchange Commission, […]