Monthly Archives: July 2013
Grassi & Co. Expands its Fund Administration Practice with the Utilization of Advent’s GenevaR and Geneva World
New York (HedgeCo.Net) – Grassi & Co.’s Fund Administration Practice is expanding its service capabilities and will now offer Advent’s Geneva® software, the industry’s premier global investment accounting solution that solves the complex challenges faced by hedge funds, global asset […]
Hedge Fund Compliance Technology Spending Is On The Rise
New York (HedgeCo.Net) – It seems hedge funds are wiling to spend more these days in an effort to avoid regulatory pitfalls. Compliance technology spending is likely to grow by 35% from 2012 to 2015, according to a new study […]
JP Morgan to pay $410m in penalties for manipulating electricity prices
Guardian – US energy regulators have hit JP Morgan with $410m in penalties after accusing it of manipulating electricity prices in California and the mid-west. The Federal Energy Regulatory Commission said the bank used improper bidding strategies to squeeze excessive payments from […]
SEC fraud case against ex-Goldman trader Fabrice Tourre in homestretch
Economic Times – Testimony ended Monday in the civil fraud case of Fabrice Tourre, with lawyers for former Goldman Sachs trader not calling any witnesses before the US Securities and Exchange Commission’s case goes to a Manhattan federal jury. Tourre’s […]
Stone Lion Fund Targets Bankruptcy Plays
Hedge Fund Alert – The New York firm held a single close for its SL Liquidation Fund on June 3 with $445 million — continuing a growth streak that started with the creation of at least one separate account sharing […]
Innovative funds can hedge fixed -income volatility
Globe And Mail – As you watch your bond investments stumble against rising interest rates, you’re probably on the lookout for fixed income options that aren’t so interest sensitive. As it happens, two of Canada’s best-known hedge fund providers offer […]
Feds Charge Two More In Hedge Fund Fiasco
New York (HedgeCo.Net) – In the latest news regarding Stephen Cohen’s embattled hedge fund SAC Capital, analyst Sandeep Aggarwal and portfolio manager Richard Lee have been charged with insider trading. According to the SEC complaint filed in federal court in Manhattan, Aggarwal covered both […]
SAC Faces the Music: Preet Bharara Goes Nuclear on Hedge Fund—Is Cohen Next?
Observer – Last Thursday, when the government charged SAC Capital with perpetrating an insider-trading scheme from 1999 through 2010, the move answered a lot of questions people had been asking of late. The main one: given the fact that the […]
Former Mizuho Credit Trading Head Plans Own Hong Kong Hedge Fund
Bloomberg – Jeffrey Yap, former head of Asian fixed-income trading at a unit of Mizuho Financial Group Inc. (8411), plans to start his own credit-focused hedge fund in Hong Kong. Yap, who worked for Mizuho Securities Asia Ltd. until May, […]
Hedge Fund Performance Down in June
New York (HedgeCo.Net) – Global stock and bond indexes declined in June, according to a new report by hedge fund research firm Morningstar; the MSCI World NR global stock market and Barclays Global Aggregate TR bond indexes dropped 1.2% and […]
Bullish on Obamacare
Barron’s – Larry Robbins usually describes the approach of his $6.4 billion hedge-fund firm, Glenview Capital Management, as “suggestivist,” cultivating amicable working relationships with corporate management to propose shareholder-friendly changes. Now he’s becoming an activist for the first time, challenging […]