Monthly Archives: September 2011
San Francisco Hedge Fund Team Accused of Providing SEC With Phoney Paperwork
New York (HedgeCo.net) – The SEC has charged San Francisco-area hedge fund adviser Kurt Hovan with fraud for lying to clients about brokerage commission rebates and producing phony documents to cover up the fraud during an SEC examination. “The SEC’s […]
Pimco’s Bridwell to Head Alternatives in Hedge Fund Push
Bloomberg – Pacific Investment Management Co. named Jennifer Bridwell head of alternatives product development as the firm expands hedge funds and distressed-debt strategies. Bridwell was previously head of mortgage strategies development at Newport Beach, California-based Pimco, where she has worked […]
Greek Bonds Lure Some, Despite Risk
NYT – Greece may never be able to pay off its huge debts, but its bonds, long scorned by investors, are suddenly being gobbled up by hedge funds. After a number of investors struck gold by betting against French banks, […]
Hedge funds face new round of redemptions
MarketWatch – The hedge fund industry is braced for a new round of redemptions after two months of poor performance and growing investor desire to move money into cash. The world’s largest listed hedge-fund manager, Man Group PLC , stoked […]
Apple of their eye: U.S. hedge fund top holdings
The Globe And Mail – On Wednesday, we looked at the stocks that most often pop up at the top of the biggest holdings of the 50 largest U.S. mutual funds. Today, we turn our attention to the most popular […]
Hedge Fund Manager Loeb Challenges Navy Seals to a Race
CNBC – “In the spirit of one of the Navy SEAL Foundation mantra, ‘all in…all the time,’ prominent money manager Daniel Loeb, Founder and CEO of Third Point LLC, challenges three Navy SEAL Foundation Directors, all former SEALs, to run […]
Canberra’s hedged bet on bad debt
Business Spectator – Australia’s banking fraternity will be feeling a lot more relaxed today after Canberra backed away from changes that would make it much easier for troubled companies to keep trading. At present, there’s very little incentive for directors […]
Hedge funds find themselves in a marathon, not a sprint
Telegraph – “Robust” was the word the 51-year-old marathon enthusiast came up with for the company’s capital and liquidity position – despite the news that investors had withdrawn $2.6bn (£1.6bn) of the group’s funds since June 30. But the shares […]
Chart of the day: Hedge funds cut leverage
Dow Jones – Hedge fund leverage, as measured by margin debt on the New York Stock Exchange, declined in August by the most in a single month since November 2008, as managers cut their exposure to the markets amidst a […]
FINCAD Simplifies Hedge Accounting for Corporate Treasuries
The second annual FINCAD Corporate Finance Survey found that 73% of respondents conducted hedge effectiveness testing, but of these, 36% reported it as their biggest challenge; greater than accurate risk assessment or independent valuations. To assist with this challenge, FINCAD has […]
Hedge Fund Clients Redeem $2.6 Billion From Man
New York (HedgeCo.net) – Hedge fund giant Man Group said its assets fell by $6 billion as shares dropped nearly 22% yesterday after investors pulled $2.6 billion from its funds. Man said it expects headline pre-tax profits to have fallen from $227 million […]