Monthly Archives: July 2010
Dangerous liaisons at IBM: Inside the biggest hedge fund insider-trading ring
CNN Money – At 7:30 in the morning on Oct. 16, 2009, Robert Moffat had already been at his desk at IBM’s headquarters in Armonk, N.Y., for an hour and a half. As he had almost every day in his […]
Italian Asset Manager Fondaco Starts New Fund of Hedge Funds
Bloomberg – Fondaco SGR SpA, the asset manager controlled by four Italian banking foundations, raised 92 million euros ($116 million) for a fund that invests in hedge funds. Fondaco Select Opportunities, which started July 1, invests in strategies including long-short […]
Rothstein Kass: 2010 Hedge Fund Outlook
New York (HedgeCo.net) – Results from Rothstein Kass’ fourth-annual report on hedge fund industry trends suggest that hedge funds are continuing to steadily recover from the global market crisis that began in late 2008, as more than 82 percent of […]
Funds ditch oil, leaving dealers holding paper: John Kemp
Reuters – Banks and other swap dealers have been left holding the rest of the market’s unwanted long positions in WTI-linked futures and options, as prompt crude prices ran into stiff resistance and began the descent back to earth. Hedge […]
Sweden piles into hedge funds
Dow Jones – One of the largest Swedish state pension schemes is to increase its holdings in hedge funds dramatically as investors look to reinvigorate performance and alternative managers have redoubled their efforts to win over institutional investors. AP1, the […]
‘Volcker Rule’ not for Canada
The Star – One particularly contentious section of the new U.S. regulations is the so called “Volcker Rule,” named after the former Federal Reserve chairman, Paul Volcker. The U.S. legislation, now before Congress, would prevent banks from dealing on their […]
Clients returning to Gartmore after Rambourg
Reuters – British fund firm Gartmore said clients were returning to its European hedge funds after big withdrawals following the March suspension of star fund manager Guillaume Rambourg. Gartmore had revealed more than 1 billion pounds of client withdrawals in […]
Hedge Funds Avoid Big Losses So Far in 2010
WSJ- The $1.8 trillion hedge-fund industry avoided big losses in the first half of 2010 as many managers stayed defensive amid sovereign-debt concerns and worries about a double-dip recession. A global index of managers compiled by Chicago-based Hedge Fund Research […]
Ex-Goldman’s Maruyama Targets $114 Million for New Hedge Fund
Bloomberg – Tan Maruyama, a former proprietary trader at Goldman Sachs Group Inc., aims to boost assets of his new Japan-focused hedge fund that bets on securities ranging from equities to convertible bonds to about $114 million. The R-SQUARED Master […]
VR Capital Asks Dragon to Close Funds as Returns Lag
Bloomberg – Dragon Capital Group Ltd., Vietnam’s second-biggest investment firm, has been asked by a shareholder to close two funds valued at $654 million because of “very poor performance.” VR Capital Group Ltd., a Moscow-based hedge fund, on June 17 […]
New York Hedge Fund Launches Swiss Arm
New York (HedgeCo.net) – New York alternative investment company, Galtere Ltd (Galtere) has gone global, launching a new European hedge fund arm – Galtere (Switzerland) AG. The firm has appointed Werner Schuenemann to manage the new operation, which is based […]
Hedge Funds See “Trying” Year in 2010
Reuters – Hedge fund managers feel they aren’t out of the woods quite yet. Seven out of 10 said they expect a “trying” year as the industry faces regulatory oversight and competition picks up with more funds likely chasing investment […]
