Monthly Archives: November 2018
Rare Leniency by Chinese Security Watchdog Saved Three Brokers US$60mn
(South China Morning Post) The Chinese security market watchdog has made a rare U-turn and reversed its decision to fine three major security firms a total of 414.55 million yuan (about US$59.9 million) for allegedly assisting “malicious short selling” during […]
Hedge Fund Shorts Woodford Patient Capital Trust Shares
(Citywire) Neil Woodford has been forced to deal with high-profile short-selling campaigns against two of his key holdings in recent years, but one hedge fund group has gone one step further in its bet against the manager. Swiss fund manager […]
French Club Bordeaux Sold to U.S. Hedge Fund
(Reuters) French club Girondins de Bordeaux have been sold by the media company M6 Metropole Television (MMTP.PA) to Los Angeles-based hedge fund General American Capital Partners (GACP), the French firm said on Tuesday. “M6 Group has today finalised the sale […]
BlackRock Munich Offices Raided in German Tax Fraud Probe
(Financial Times) A far-reaching criminal investigation into tax fraud in Germany has spread to BlackRock, with the group’s Munich offices raided by criminal prosecutors on Tuesday. A spokesperson for BlackRock, the world’s biggest money manager, said the raid had taken […]
San Francisco Makes $1.1 Billion in Commitments, Mostly to Hedge Funds
(aiCIO) The $25.5 billion San Francisco Employees’ Retirement System has committed more than $1.1 billion to hedge funds, private equity, real estate, and natural resources funds, shows a SFERS report… To read this article:
SEC Charges Businessman and Lawyer in Fraudulent Eb-5 Scheme
(HedgeCo.Net) The Securities and Exchange Commission charged a businessman and a California-based attorney with defrauding investors seeking to participate in the EB-5 immigrant investor program, stealing their money to fund personal expenses. The SEC’s complaint alleges that Robert A. Ferrante […]
Fund Managers Say Don’t Count on the Midterms to Revive Gold
(Bloomberg) It’ll take more than election upheaval to restart gold’s rally. That’s the view of money managers including Stephen Land of Franklin Templeton Investments, who say concerns that the Federal Reserve will continue raising rates will overshadow any short-term boost […]
Pelham Capital Hedge Fund Tumbles 14.4% in October Rout
(Bloomberg) One of Pelham Capital’s hedge funds plunged last month, joining a host of other firms that struggled to perform in October. Pelham’s long-short equity fund, managed by founder Ross Turner, fell an estimated 14.4 percent last month, leaving it […]
Top-Performing Hedge Fund Says Dump Equities Now
(FNLondon) A top-performing hedge fund has taken the bold step of almost completely dumping its equity holdings, ahead of what it fears will be a “substantial market correction — or worse”. Managing Partners Group, a UK fund manager that runs […]
Hedge Fund Manager Stakes Own Cash on a Bet Against Credit ETFs
(Bloomberg) After quitting his job at a $7 billion hedge fund to go it alone three years ago, Adam Schwartz happened upon a short so certain he built a notional position amounting to half his fledgling firm’s assets on it. […]
Rebalancing EM Small Caps during Volatile Markets
(Harvest) As global trade disputes between the two largest economies continue to escalate, volatility has once again become a fact of global markets, as seen in the VIX spiking above 25 . Perhaps due to their sensitivity to trade (and […]
VIX Could Go Much Lower Just as Hedge Funds Bet on Its Futures
(Bloomberg) A fair-value model based on economic fundamentals suggests that the Cboe Volatility Index — the equity market’s “fear gauge” — should be at a much lower level, according to Vinay Viswanathan and Dean Curnutt of Macro Risk Advisors To […]