Monthly Archives: July 2016
Bridgewater, World’s Biggest Hedge Fund, Is Said to Be Slowing Hiring
(New York Times) After years of rapid internal growth, the world’s biggest hedge fund appears to be slowing down. The $154 billion hedge fund, Bridgewater Associates, run by the billionaire Ray Dalio, is known for hiring hundreds of people every […]
Fee Pressure Looms for Underperforming Hedge Funds
(Bloomberg) Investors are starting to withdraw money from mediocre Asian hedge funds that charge high fees, a trend that’s forcing changes in the economics of the business, according to the global head of prime brokerage at Nomura Holdings Inc. “Organizations […]
Goldman-Backed Pelham’s Hedge Fund Said to Lose 10% in June
(Bloomberg) Pelham Capital’s main hedge fund lost about 10 percent in June as the U.K.’s shock decision to exit the European Union sparked turmoil in global equity markets, according to two people with knowledge of the matter. The losses in […]
SEC Charges Investment Adviser With Failing to Clearly Disclose Additional Costs to Investors
(HedgeCo.Net) The Securities and Exchange Commission today announced an enforcement action against an investment advisory firm that failed to properly prepare clients for additional transaction costs beyond the “wrap fees” they pay to cover the cost of several services bundled […]
Hedge fund giant Bill Ackman just took a massive blow
(Yahoo Finance) Shares of multi-level marketer Herbalife jumped on Friday following a report from The Wall Street Journal that The Federal Trade Commission will not determine the company to be a pyramid scheme. Instead, the company will pay a $200 […]
Goldman-Backed Pelham’s Hedge Fund Said to Lose 10% in June
Pelham Capital’s main hedge fund lost about 10 percent in June as the U.K.’s shock decision to exit the European Union sparked turmoil in global equity markets. The losses in Pelham Long/Short Fund, which managed 3.8 billion euros ($4.2 billion) […]
Charlotte Hedge Fund Manager Pleads Guilty To New Charges
(The Charlotte Observer) A former Charlotte hedge fund manager already in prison for an investment scheme that cost investors at least $8.9 million pleaded guilty July 1 to two new charges as part of a widening case involving a New […]
A Hedge Fund’s Peru Bond Fight Now Playing at a Theater Near You
(Bloomberg) A spat between Peru and bondholders over decades-old unpaid debts is playing out in an unlikely place: your local movie theater. “The Debt,” as the movie is titled, is a fictional account of ruthless Wall Street types who seek […]
New York Hedge Fund Drops Bid To Merger Stelco And Algoma
(Hamilton Spectator) An American hedge fund that planned to merge Stelco and Algoma into a new Canadian steel firm has pulled out of the bidding. A source familiar with the situation said KPS Capital Partners, of New York, dropped its […]
First U.S. Trader Convicted Of Spoofing Sentenced To Three Years In Jail
(Reuters) A U.S. judge sentenced futures trader Michael Coscia to three years in prison on Wednesday, a lighter punishment than prosecutors had sought for the first person criminally convicted of the manipulative trading practice of spoofing. Coscia also was sentenced […]
Leaving London Could Cost Brexit-Spooked Banks $67 Million In Relocation Expenses
(CNBC) London-based banks looking to pack up after Brexit could end up spending as much as $66.5 million to relocate to the EU, a new report says. Estimates published by global consulting agency Synechron say banks looking to relocate 1000 […]
Impala Prepares Hedge Fund To Bet On Commodity Rebound
(Reuters) Impala Asset Management is forming a new hedge fund to bet on rising commodities prices, according to a letter sent to clients and seen by Reuters on Thursday.Impala, a $2 billion stock-focused hedge fund manager based in New Canaan, […]