Monthly Archives: July 2016
AllianceBernstein: Deal to Buy Visium’s Global Fund ‘Not Feasible’
(Fin Alternatives) Plans for embattled hedge fund company Visium Asset Management to sell its $2.5 billion Visium Global Fund to AllianceBernstein, under doubt since Ken Griffin’s Citadel hired several Visium portfolio managers that would have been part of the deal, […]
Deutsche Bank Slump Hits Hedge Fund Unit It’s Trying to Grow
(Bloomberg) Deutsche Bank AG said second-quarter revenue dropped at its prime finance unit, extending a slump beyond businesses that Germany’s largest lender is seeking to exit as client concerns added to volatile markets. The prime finance division, which caters to […]
Five whistleblowers receive more than $26 million,
(HedgeCo.Net)— The Securities and Exchange Commission has announced a whistleblower award of more than $17 million to a former company employee whose detailed tip substantially advanced the agency’s investigation and ultimate enforcement action. The award is the second-largest issued by […]
Tests of Equity Market Hedging: U.S. Hedge Funds
(Harvest) We analyze approximately 600 hedge fund long U.S. equity portfolios that are tractable from regulatory filings. Note that roughly half of U.S. hedge fund portfolios are impossible to analyze accurately due to the quarterly data frequency and high turnover. […]
State Street Allegedly Misled Custody Clients About Prices for Foreign Currency Exchange Trades
(HedgeCo.Net) The Securities and Exchange Commission today announced that State Street Bank and Trust Company has agreed to pay $382.4 million in a global settlement for misleading mutual funds and other custody clients by applying hidden markups to foreign currency […]
Hedge Fund Industry AUM Falls Back Below $3T
(Fin Alternatives) Investor redemptions of $20.7 billion in June pulled global hedge fund assets back down below the $3 trillion threshold at the end of first half, according to the latest Hedge Fund Asset Flows Report from industry data provider […]
Managing money in the past year has been like ‘Game of Thrones’
(Yahoo Finance) Hedge fund billionaire Daniel Loeb, the founder of Third Point LLC, has eloquently summed up for investors what it’s been like to manage a portfolio in the last year. It’s just like “Game of Thrones.” “Watching Jon Snow’s […]
Bank Identity and Hedge-Fund Culture
(Bloomberg) A bank’s net income is just an arbitrary point on a distribution hopefully centered around some number greater than zero, and it isn’t quite fair to talk about year-over-year percentage changes, but still you never want it to fall […]
Is the bond market pricing in a Trump Presidency?
(Harvest) It wasn’t until mid-summer 2015 when the polls started to show that Trump was not simply some “unelectable” candidate who didn’t stand a chance of becoming the Republican presidential front-runner. You can see the poll results converge between Clinton […]
Einhorn’s Greenlight Buys Chemours, Blasts Citron Short Call
(Bloomberg) David Einhorn’s Greenlight Capital said it took a stake in Chemours Co., the titanium-dioxide pigment maker spun off from DuPont Co., denouncing a short recommendation from Andrew Left’s Citron Research that said the company had been “designed to fail.” […]
Blackrock: One Place to Look for Income Now
(Harvest) Emerging market (EM) debt is enjoying robust returns this year. Is this asset class worth considering? We believe it is in today’s post-Brexit world, and this week’s chart helps explains why. To read this article:
Hedge Funds in Asia Worst Hit by Redemptions,
(Bloomberg) Asia-based hedge funds are facing the worst redemption pressures in five years, with investor withdrawals cutting regional industry assets by about 10 percent in the first half, according to eVestment. Asian managers suffered $6.3 billion of capital outflows in […]