Monthly Archives: August 2008
DIFC denies reports about involvement in Rashed Investment Bank
The DIFC has clarified its position on news reports that have recently appeared regarding ‘Rashed Investment Bank’ an Islamic investment bank which has been proposed to be set up in Dubai. The DIFC said that while it welcomes initiatives within […]
Business Letters: Curb the excesses of the hedge funds
Times Online – The esteem of John Waples for the hedge funds (“Get used to volatility: the hedgies are in control”, last week) was not very sound financial journalism. Who else but these grossly leveraged entities would have the capital […]
High Flying Falcone Has His Wings Clipped
New York Post – After months of falling financial stocks and rising oil prices, July’s sudden turnaround was a welcome relief to average investors. Not so for hedge funds – including subprime-mortgage superstar Phil Falcone. That’s because a number of […]
Short sellers hack into Fortescue
News.com.au- Iron ore tycoon Andrew Forrest is under attack from international hedge funds in a co-ordinated short-selling blitz against his Fortescue Metals Group — a campaign that has caused the company’s stock, and the executive’s paper fortune, to slump by […]
Investments in Asia hedge funds halved
Reuters Singapore – Investors almost halved the money they put into Asia-focused hedge funds in the second quarter compared to the first three months of the year as a selloff in stocks hurt appetite for risky assets, data showed. Asia-focused […]
TD Waterhouse Fined $2 Million for Illegal Sale of Hedge Funds
New York (HedgeCo.Net) – TD Waterhouse has been ordered to pay a $2 million fine as a result of selling hedge funds to clients who were not accredited, according to a report by the Vancouver Sun. The Investment Industry Regulatory […]
AIG Earnings Slump on Private Equity, Hedge Funds
Bloomberg – Just when American International Group Inc. shareholders figured things couldn’t get worse at the world’s largest insurer, profit from the company’s private equity and hedge fund investments is evaporating. Earnings from so-called alternative holdings were probably close to […]
British hedge fund buys 5% stake in Sovereign
Milwaukee Business Journal – An activist British hedge fund has taken a 5 percent stake in Sovereign Bankcorp Inc., according to a filing with the Securities and Exchange Commission. London-based Toscafund Asset Management said its passive stake amounts to 33.5 […]
Launch, Market Access to Brazil by UBS
West Palm Beach (HedgeCo.Net) – The global Equities business of UBS announced the launch of Direct Market Access (DMA) for international clients to trade securities on the Bovespa stock exchange in Brazil. UBS is among the first broker-dealers to offer […]
Final Voting Results For CSX Put Hedge Funds On Board
West Palm Beach (HedgeCo.Net) – Rail company CSX Corporation issued its final report, showing that four of hedge fund TCI Group’s nominees (Children’s Investment Fund Management) received a larger number of votes than four of CSX’s nominees. "We are delighted […]
WaMu, Sovereign get British hedge fund investment
Reuters – An activist British hedge fund has taken a 6 percent stake in Washington Mutual Inc as the largest U.S. savings and loan tries to rebound from billions of dollars of mortgage-related losses. The London-based fund, Toscafund Asset Management, […]