Monthly Archives: August 2014
Hedge Fund Fir Tree Partners Blasts Hertz CEO
Forbes – Fir Tree Partners, the hedge fund firm founded by Jeffrey Tannenbaum, issued a statement on Thursday, saying Hertz CEO Mark Frissora “has completely lost credibility.” Fir Tree said it was making its remarks in response to a statement […]
Hedge Fund Manager & “Martha Stewart of Marijuana” Co-Hosts The Global Cannabis Summit
New York (HedgeCo.Net) – Cheryl Shuman, the first Cannabis entrepreneur to manage a $100 million hedge fund to invest in the cannabis businesses, has been called upon to consult and co-host at the GreenRush Financial Conference being held in Seattle, […]
BoA Admits Disclosure Failures to Settle SEC Charges, $245 Million Settlement
New York (HedgeCo.Net) – The SEC reports today that The Bank of America (BoA) has admitted that it failed to inform investors during the financial crisis about known uncertainties to future income from its exposure to repurchase claims on mortgage […]
Republican lawmaker slams SEC over unauthorized leaks to media
Reuters – A Republican lawmaker slammed the U.S. Securities and Exchange Commission over leaks of confidential information to media outlets, including Reuters, calling the disclosures “unacceptable.” Representative Jeb Hensarling, who leads the House of Representatives’ Financial Services Committee, said in […]
London hedge fund executives see pay packets halve as bonuses plummet
Guardian – Hedge fund executives in London saw bonuses plummet last year, resulting in their pay packets being less than half of what they were 12 months ago. The average bonus paid to a partner or a managing director of […]
The Hedge Fund and the Despot
Bloomberg – At 6 feet 2, James McGee announces his military background through his bearing. His hair is now platinum, his shoulders often thrust back. Raised during the 1950s and ’60s in the shadow of the steel mills of Gary, […]
Activist Hedge Fund Claims Victory Over Bob Evans
NYT – After nearly a year of pushing for change at Bob Evans Farms, the activist hedge fund Sandell Asset Management is claiming victory. Sandell said on Wednesday that it had won at least five seats on the board of […]
UBS Hedge Fund Takes REIT Chips Off The Table
Benzinga – After the bell on August 20, 2014, Bloomberg reported that the $5.6 billion hedge fund, UBS O’Connor LLC, a unit within Swiss banking giant UBS, had sold off more than $900 million of shares in U.S. REIT holdings, […]
New CIP Requirements Proposed By FinCEN
New York (HedgeCo.Net) – FrontLine Compliance reports that FinCEN is proposing new rules for broker-dealers and mutual funds. The latest proposal would require firms to update their CIP Programs for legal entity customers, such as partnerships, corporations, and limited liability companies. […]
SS&C GlobeOp Forward Redemption Indicator: August notifications 4.19%
New York (HedgeCo.Net) – Today SS&C GlobeOp announced that its Forward Redemption Indicator for August shows notifications of 4.19%. This figure is up from 3.15% in July. SS&C GlobeOp’s data on the GlobeOp platform represents approximately 10% of the hedge […]
AIMA: The Case For Hedge Funds
New York (HedgeCo.Net) – The Alternative Investment Management Association (AIMA), the global hedge fund industry body, has published “The Case for Hedge Funds”, a compilation of AIMA’s thought-leadership research since the global financial crisis. The 28-page booklet summarises the themes […]
UBS O’Connor Hedge Fund Sells U.S. REITs in Second Quarter
Bloomberg – UBS O’Connor LLC, the $5.6 billion hedge-fund unit within Switzerland’s biggest bank, sold most of its stakes in U.S. real estate investment trusts during the second quarter after the companies delivered some of the highest stock-market returns in […]