Monthly Archives: February 2014
At trial, ex-Madoff aide Bonventre denies he knew of fraud
HedgeWorld – Only minutes into the prosecution’s questioning of former Bernard Madoff aide Daniel Bonventre at trial on Wednesday [Feb. 19], it was clear he was in for a long day. Assistant U.S. Attorney Randall Jackson asked Bonventre repeatedly whether […]
Mark Cuban to SEC: Go after high-speed trading, not insider trading
Reuters – Dallas Mavericks owner and prominent investor Mark Cuban is never shy about criticizing the U.S. Securities and Exchange Commission and its failure to prevail in its high-profile insider-trading case against him last fall. As it turns out, he […]
SEC Announces Initiative Directed at Never-Before Examined Registered Investment Advisers
The Securities and Exchange Commission today announced that its Office of Compliance Inspections and Examinations (OCIE) is launching an initiative directed at investment advisers that have never been examined, focusing on those that have been registered with the SEC for […]
U.S. judge asks if Goldman can cover ex-trader Tourre’s penalties
Reuters – A U.S. judge on Thursday [Feb. 20] weighed the limits of the U.S. Securities and Exchange Commission’s ability to punish former Goldman Sachs Group Inc. trader Fabrice Tourre, including whether the agency could block him from asking the […]
Upstarts Hope to Make 2014 a Blowout Year for Hedge-Fund Debuts
WSJ – A host of notable hedge-fund startups are expected to begin operating in 2014, each with at least $500 million—and in one case $2 billion—to invest. Bankers and lawyers who work with such funds say this is likely to […]
Study: Education Paramount as Alternatives Become More Mainstream Among Investors
New York (HedgeCo.Net) – Despite the growing proliferation of liquid alternative funds attracting considerable assets from investors, a recent study shows a vast majority of certain investors are not familiar with the term alternative investment. In November of 2013 Invesco […]
Eurekahedge and ILS Advisers Launch Cat Bond Hedged Index
New York (HedgeCo.Net) – Eurekahedge has launched a new hedge fund index focusing on insurance linked securities (ILS), in partnership with ILS Advisers. Insurance linked securities (ILS) also known as catastrophe or cat bonds are a transfer of insurance risk to the […]
Hedge fund chief gives Harvard $150M for undergrad scholarships, aid
CNN – It’s the largest gift in the nearly 400-year history of Harvard College, a nine-figure sum aimed at giving hundreds of students who win admission “against long odds” the means to attend. The $150 million donation from hedge-fund chieftain […]
Whitman Capital founder loses appeal on insider trading conviction
Reuters – California hedge fund manager Doug Whitman, the first defendant in the broad U.S. crackdown on insider trading to take the stand in his own defense, on Wednesday [Feb. 19] failed to persuade a federal appeals court to overturn his […]
UCITS HFS Index starts negatively into the year, down -0.15% in January 2014
The UCITS HFS Index ends its run of four consecutive positive monthly results and starts into the new year with a loss of -0.15% in January 2014. The broad index started positively into the month and reported gains of 0.26% […]
Hedge fund claims loss of investors’ confidence in Wausau Paper board
Journal Sentinel – The largest shareholder of Wausau Paper Corp., a hedge fund that already has compelled the 115-year-old paper maker to close and sell its Wisconsin operations, increased pressure this week by claiming that other shareholders have lost patience […]
Analyst Charged With Stealing Quant Trading Models From Major Hedge Fund
Forbes – Manhattan District Attorney Cyrus Vance Jr., has accused a former hedge fund analyst of stealing documents that detailed the methods and application of two trading models from a major New York hedge fund firm that specializes in quantitative […]