Monthly Archives: June 2018
The ranks of hedge fund managers expecting impending market chaos are growing.
(Bloomberg) Greg Coffey, the former star manager at Moore Capital Management who started trading at his own firm this year, is comparing the turmoil in May to the end of dotcom bubble in 2000. Horseman Capital Management’s Russell Clark, one […]
Point72 promotes executive to lead marketing effort
(Reuters) Billionaire investor Steven A. Cohen promoted an executive at his Point72 Asset Management to lead the firm’s effort to raise fresh capital now that his ban on managing money for outside clients has been lifted. Laura Sterner was named […]
BNY Mellon launches FX options
(Hedgeweek) BNY Mellon is now live with foreign exchange options, enabling clients to better hedge currency exposure and express their views on the future direction of FX markets. To read this article:
Hedge-Fund Star Sundheim Lures Piles of Cash on His Own Terms
(Bloomberg) For Dan Sundheim, who starts trading outside capital at his new hedge fund in mid-July, it might as well be 2007. That’s when hedge fund managers dominated Wall Street. They could charge high fees, impose long lock-ups on capital […]
The Importance of Exercising Due Diligence When Hiring Auditors and Other Vendors
(Hedge Fund Law Report) The SEC recently announced that it had issued an order against an accounting firm and two partners for willfully aiding and abetting violations of Rule 206(4)-2 (the so-called “custody rule”) of the Investment Advisers Act of […]
Former State Street executive convicted on fraud charges
(Boston Globe) A former executive of State Street Corp. was convicted Tuesday by a federal jury for his role in a scheme to defraud customers by charging secret commissions on billions of dollars worth of trades. Ross McLellan, 47, of […]
Hedge Fund Bets on Japanese Stocks That Shouldn’t Be Listed
(Bloomberg) An Oslo-based hedge fund’s love for unloved Japanese stocks has proved a winning passion for more than a decade. “Our model is good at identifying companies that shouldn’t be listed,” Trond Hermansen, who manages Sector Zen with analyst Lars […]
Crunch Time in Germany
(Harvest) In a situation eerily reminiscent of the build-up to the fateful Brexit referendum, many investors seem to once again underestimate the risk of political upheaval in Europe. Like David Cameron in 2016, Angela Merkel faces significant pressure from nationalist […]
Trump’s Trade War Has Hedge Funds Diving for Cover in China
(Bloomberg) Donald Trump’s threats of a trade war with China are sending jitters through the hedge-fund community. Pinpoint Asset Management and SPQ Asia Capital have recently cut a measure of risk called net exposure — the difference between bullish and […]
Hedge Fund Drops Kentucky Pension Fund Over Ethics Requirement
(Reuters) A New York-based hedge fund is ending a $68 million investment by the Kentucky Retirement Systems, citing new code of conduct requirements imposed by the state, as well as ongoing litigation, the system’s executive director said on Thursday. David […]
Wells Fargo Advisors Settles SEC Charges for Improper Sales of Complex Financial Products
(HedgeCo.Net) The Securities and Exchange Commission today announced that Wells Fargo Advisors LLC agreed to settle charges of misconduct in the sale of financial products known as market-linked investments, or MLIs, to retail investors. According to the order, the SEC […]
Hennessee Hedge Fund Index up +0.96% in May, year-to-date ahead of Dow, S&P500
(Opalesque) Hennessee Group LLC announced today that the Hennessee Hedge Fund Index increased +0.96% for the month (+2.27% YTD), while the S&P 500 was up +2.16% (+1.19% YTD), the Dow Jones Industrial Average increased +1.05% (-1.79% YTD), and the NASDAQ […]