Monthly Archives: September 2012
BlackRock: Hedge Fund Giant Gets $15 Million Fine [updated]
New York (HedgeCo.Net) – BlackRock has been fined £9.5 million ($15 million) by the UK Financial Services Authority. The worlds biggest asset manager is said to have failed to follow rules protecting clients money, Reuters reported. The problem occurred after BlackRock bought Merrill Lynch Investment […]
Baupost hedge fund files hot put-back complaint vs Bear Stearns
Reuters – In July, not long after The Economist dubbed its revered founder Seth Klarman “The Oracle of Boston,” the hedge fund Baupost abruptly dropped out of the litigation challenging Bank of America’s proposed $8.5 billion settlement with investors in Countrywide mortgage-backed […]
Hedge fund honcho seeks to oust congressman
Marketplace – Super PAC Prosperity First, which is bankrolled by wealthy hedge fund CEO Robert Mercer, is attempting to oust Democratic Rep. Tim Bishop in New York’s 1st Congressional District. In less than a week, the super PAC has spent more than […]
Investors pull more money away from hedge funds
Reuters – Investors took more money away from hedge funds in July when they asked for $7.4 billion back, underscoring their frustration with an industry that has long promised to make money in all markets but is currently delivering only […]
Asian hedge funds need to rise to corporate governance challenge
The Asset – The topic of fund governance is moving quickly to the top of the agenda for investors in hedge funds. Institutional investors, now representing over 60% of the global hedge fund asset base, are in the driving seat […]
Hedge fund assets available for prime custody jump 40% in two years, says BNY Mellon
Opalesque – BNY Mellon, the global leader in investment management and investment services, reported today that hedge fund assets available for prime custody services now stand at an estimated $684 billion, a 40% increase since 2010. The increase reflects both […]
People Moves: Don Steinbrugge Appointed To Board of Directors At HFA
New York (HedgeCo.Net) – International hedge fund organization, the Hedge Fund Association (HFA), announced that it has appointed Don Steinbrugge, chairman of Agecroft Partners, to its board of directors. “I am very honored to be selected and will be involved […]
Hedge funds up 0.47% in August 2012
New York (HedgeCo.Net) – The Eurekahedge Hedge Fund Index gained 0.47% during the month. Market sentiment was optimistic for most of the month, with prospects for QE3 increasing, positive signals from the Euro zone and stronger US economic data. The MSCI World […]
Fitch: Hedge funds face challenge balancing reinsurance/returns
Reuters – Several well-known hedge fund managers have backed new reinsurance vehicles, with the aim of using stable premium flows in lower-risk underwriting business to support higher returns on the companies’ asset portfolios. The business model sounds simple, but achieving […]
Asian hedge funds looks for volatility opportunities
Risk.net – Volatility hedge funds operating in Asia have reported some spectacular losses since 2008. Despite this, there are still funds operating in the volatility arena. What strategies are working best and why is volatility so low? Long volatility funds […]
Hedge fund charges not catching on with UK mutual funds
Reuters – Britain’s mutual funds are shunning a hedge fund-style method of charging clients, where investors pay fees as a proportion of outperformance by the fund manager, following a revolt by financial advisers selling the funds, a study has found. […]
Wells Fargo Re-Brands Its LaCrosse Global Fund Services Hedge Fund Administration Business
The Street – Wells Fargo & Company (WFC) today announced that its hedge fund administration and middle-office service provider, LaCrosse Global Fund Services (LaCrosse), has been re-branded as Wells Fargo Global Fund Services. The newly-named firm will continue to provide […]