Monthly Archives: September 2013
Hedge fund puts Nathan Tinkler in a hole
FR – Former mining billionaire Nathan Tinkler appears to have sunk deeper into financial strife, suffering a falling-out with a key Asian hedge fund backer, which has resulted in his Aston Metals company being placed in receivership. Tinkler Group blamed the “unexpected” […]
Hedge fund beta interest grows, but capacity strained
A small but growing number of institutional investors are abandoning hedge funds in favor of their clones — hedge fund beta portfolios. But those still making up their minds had better hurry: The industry’s largest hedge fund beta manager, AQR Capital […]
Hedge Fund to Oppose Buyout of Smithfield Foods
InvestorPlace – A Chinese company’s plans to purchase the largest U.S. pork producer has hit a roadblock. On Tuesday, one of Smithfield Foods‘ largest shareholders warned its board of directors that it planned to vote against its proposed merger with Shuanghui International […]
Nokia handset sale hammers hedge funds
Reuters – Hedge funds betting that the collapse in Finnish telecom group Nokia’s share price would continue got a rude surprise on Tuesday, and their rush to unwind their bets left the stock eyeing a record daily gain. Nokia shares, […]
Petra Partners Launches P2P Hedge Fund
New York (HedgeCo.Net) – While many others were off enjoying their vacations this summer, Petra Partners was busy preparing the launch of its latest fund for October 1, 2013. The fund will be credit-focused but will invest primarily in the […]
U.S. SEC, in Tactical Shift, Casts Suspicious Eye on Peers
Reuters – A shift in how the U.S. Securities and Exchange Commission investigates possible violations related to complex products could lead to brokerages being targeted because of problems at their competitors, an agency official said on Thursday [Sept. 28]. “If […]
College Students Launch Hedge Fund
New York (HedgeCo.Net) – North Carolina registered Lumina Investments, LLC, founded and managed by three North Carolina college students, has opened its first hedge fund that seeks to capitalize on the growing influence of “macro events” on the behavior of global financial markets. […]
Florida Hedge Fund Manager Sentenced In Alabama
New York (HedgeCo.Net) – The Florida hedge fund manager that surrendered watches, cars, an airplane and a backpack of cash earlier this month has been sentenced to five years in prison for conspiracy, securities fraud, wire fraud and money laundering. “Klatch acknowledged […]
France budget: Top 10% of earners to see taxes rise to %75
BBC – French Prime Minister Jean-Marc Ayrault has said that nine out of 10 citizens will not see their income taxes rise in the new budget. He has confirmed that there is to be a new 75% tax rate for […]
Brencourt Advisors to Return Capital to Outside Investors
Bloomberg – Brencourt Advisors LLC, a New York- based multistrategy hedge fund, plans to wind down its funds by year-end, return money to outside clients and become a family office, the firm said in a letter to investors. The $300 million firm […]
Axion Mining attracts U.S. hedge fund Drake Asset Management
Au – Axiom Mining has received support from U.S. domiciled sophisticated investors who have participated in a A$1 million private placement, comprising 77 million shares at A$0.013. Shareholder approval will be sought for 55 million of the shares. The majority of […]