Monthly Archives: August 2011
Investment bankers suffer as UBS sheds 3,500 staff
Guardian – Swiss banking firm UBS has become the latest bank to cut thousands of jobs around the world, although Britain will escape the brunt of the cuts. Zürich-based UBS, which employs 65,000 people worldwide, said on Tuesday it was cutting […]
EurekaHedge: Hedge funds outperformed global markets by 3.03%
New York (HedgeCo.net) – August’s edition of The Eurekahedge Report takes an in-depth look at the global hedge funds sector, with analysis of the industry’s performance so far in 2011, comparisons to previous years and an examination into where it […]
Bank of America’s share nosedive fuels fears of a second credit crunch
Guardian – Bank of America continued its tailspin on Tuesday as shares in the largest US bank tumbled by another 6.4% to their lowest level since March 2009, fuelling fears of a second banking crisis. As concerns mounted that BoA […]
Spiegel Unloads on Hedge Funds and the Markets
Business Insider – Nasty article in Der Spiegel, Out of Control: The Destructive Power of the Financial Markets, which helps explain what’s behind the financial transactions tax that was recently introduced by Angela Merkel and Nicolas Sarkozy. The article opens, […]
Hedge funds outperform local equities
ioL – The second quarter of 2011 was another difficult one for the local equity market according to portfolio manager at Blue Ink Investments, Eben Karsten. The local index ended 20.3% weaker in June, following steep intra month declines of […]
Fearing Inflation ‘Bogeyman’ Is Bad Policy, Brownstein Says
Bloomberg – Policy makers seeking to rescue the U.S. economy are wrong to worry about the threat of inflation and should heed Warren Buffett’s call for higher taxes on the wealthy, according to Don Brownstein, manager of last year’s top-performing hedge fund. […]
2010’s Top Hedge Fund Manager: Bernanke Should Act On QE3
Barron’s – Don Brownstein, who runs 2010?s top performing hedge fund, wrote a letter to investors last week that criticized political leaders for focusing too much on inflation. The head of Stamford, Connecticut-based Structured Portfolio Management LLC also believes that Fed […]
Prime Cap’s China fund grows to $1.7 bln, defies Aug mkt slump
Reuters – Hong Kong-based Prime Capital Management’s Greater China long short equity hedge fund returned 0.9 percent in the first three weeks of August, increasing its year-to-date gain to 12.7 percent, according to an investor letter obtained by Reuters. The Dragon […]
Asia’s Hedge-Fund Assets to Grow, May Reach $180 Billion, Eurekahedge Says
Bloomberg – Assets managed by Asian hedge funds may exceed $180 billion in the next 12 to 18 months as the region’s growth attracts investors amid U.S. economic and Europe sovereign debt concerns, according to Eurekahedge Pte. Asian hedge-fund assets stood at […]
HedgeServ Expands, Opens London Office
New York (HedgeCo.net) – $115 billion NY hedge fund administrator, HedgeServ, has expanded its international platform with the opening of its office in London yesterday. Former vice president at the Bank of New York Mellon Alternative Investment Services Tim Jones […]
EurekaHedge Performance Update
Hedge funds were up 0.44% in July as managers provided downturn protection to their portfolios in a month that saw global equity markets decline The Eurekahedge Hedge Fund Index gained 0.44% in July; a month marked by high risk aversion arising from […]