Monthly Archives: July 2012
US dollar is preferred safe haven currency for hedge fund managers, according to poll results
Hedge Funds Review – Hedge funds and institutional investors place the US at the top of the list of safe haven currencies. The yen, only a few years ago considered one of the safest currencies, is the least attractive. The US […]
Traxis to Liquidate Biggs’s Hedge Fund Into Another Pool
BusinessWeek: Traxis Partners LP, the $1.2 billion hedge fund started by Barton Biggs, told clients it will liquidate a vehicle he managed and transfer the assets to another pool following his death over the weekend. The Traxis Global Equity Macro […]
Hedge Funds Future: Time to ‘Separate Men From Boys’
CNBC: A once promising year for hedge funds has turned into another trudge through the muck, indicating that it may be time for the industry to rethink the way it does business. Hedge fund returns for the first half of […]
Opinion: 4 reasons the hedge fund industry is dead
Marketwatch Blog: The era of multi-billion dollar hedge funds, with their “2 and 20” fee structures, high portfolio, and employee turnover, looking no farther ahead than this year’s bonus, is over. The Economist came out with a piece last week […]
Hell Hath No Fury Like a RICO Action: Racketeering Charges Filed in Hedge Fund Divorce
http://observer.com – How angry an ex would you have to be to file racketeering charges against your spouse? That’s a question Elizabeth Bingham-Perry could answer. The Scarsdale resident filed a civil RICO action against her husband Jeffrey Perry in the […]
Administrators and Auditors Identified as Most Important Hedge Fund Service Providers
New York (HedgeCo.Net) – Hedge fund due diligence provider, Corgentum Consulting, reported that according to a new survey, only 17% of investors feel that prime brokers are the most important hedge fund service provider. Administrators (33%) and auditors (31%) were identified […]
ThinkStrategy’s Kapur Indicted by U.S. for Securities Fraud
Bloomberg – ThinkStrategy Capital Management LLC’s Chetan Kapur was accused by the U.S. of deceiving investors into buying shares in his hedge funds in a scheme that lasted from 2002 to 2010. Kapur, ThinkStrategy’s sole managing director, was charged with […]
‘King of Tokyo’ dethroned by insider trading probe
CNBC – Edward Brogan was Japan’s highest-profile hedge fund manager until he suddenly dropped out of view this month. Dubbed the “King of Tokyo” by traders, the 53-year-old American seemed to have it all: wealth, professional acclaim and status as […]
UCITS Hedge Funds Rise to EUR 129 ($158) Billion
New York (HedgeCo.Net) – Geneva-based investment company, Alix Capital reports that UCITS hedge funds AUM increased by +7.5% in Q2 2012 contributing to an increase of 18.3% for the last 12 months. Sixteen new funds were launched this quarter and four were […]
Goldman Builds Private Bank
WSJ – Goldman Sachs Group Inc. is building an in-house bank to lend money to wealthy people and companies. Rules that stem from the U.S. Dodd-Frank overhaul, including the Volcker rule, which limits the gambles a bank can take with its own money, […]
HSBC ‘sorry’ for aiding Mexican drugs lords, rogue states and terrorists
Guardian – Executives with Europe’s biggest bank, HSBC, were subjected to a humiliating onslaught from US senators on Tuesday over revelations that staff at its global subsidiaries laundered billions of dollars for drug cartels, terrorists and pariah states. Lawmakers hammered the British-based […]
Hedge Fund Consultant Wesley Wang Admits To Passing Tips
Reuters – Wesley Wang, a hedge fund consultant, pleaded guilty to federal charges that he passed inside information about Cisco Systems Inc. (CSCO), Polycom Inc. (PLCM) and Marvell Technology Group Ltd. (MRVL) Wang pleaded to two counts of conspiracy to […]