Monthly Archives: August 2008
Tokio Marine Makes Gradual Shift to Hedge Funds as Prices Drop
Bloomberg – Tokio Marine Holdings Inc. will shift more of its 11 trillion yen ($100 billion) in assets to hedge funds and scour the globe for bargains as the credit squeeze forces down prices. Tokio Marine & Nichido Fire Insurance […]
Swing back to bank stocks is overdone, says Merrill Lynch
Times Online – The fashionable investment tactic of the past month – buying bank stocks while selling energy companies – could already have gone too far, Merrill Lynch, the financial management group, warned clients yesterday. In mid-July, hedge funds, pension […]
Cuomo Pressing Major Banks in ARS Probe
New York (HedgeCo.Net) – Less than one week after UBS and Citigroup were called upon to buy back over $30 billion in bad auction-rate securities, New York Attorney General Andrew Cuomo is forcing JPMorgan, Morgan Stanley and Wachovia to follow […]
UBS Writes Down Another Subprime-Related $6 Billion
New York (HedgeCo.Net) – Writedowns from major banks have reached the $500 billion mark, only one year after the subprime fallout forced mortgage-backed securities to plummet in value. And it’s not over. Some economists estimate that number will ascend upwards […]
CDS counterparty risks serious threat to global financial markets
Hedge Funds Review Magazine – Greenwich Associates conducted a study of 146 institutions in North America and Europe to determine how fears of counterparty risk were affecting institutional investment and trading strategies. The study revealed that 37% of participating institutions […]
Lionhart Launches DIFC Office as DFSA Grants License
Zawya – Lionhart (Middle East) Limited, part of the Lionhart group of companies, a firm specializing in global multi-strategy arbitrage, today announced that it has gained regulatory approval from the Dubai Financial Services Authority (DFSA) to open an office in […]
BlackRock tops retail fund sales
Reuters UK – Fund firm BlackRock held onto the top spot for net sales of British funds to retail investors in the second quarter, according to industry data, helped by sales of its hedge fund-style UK Absolute Alpha fund. BlackRock […]