Monthly Archives: January 2008
Prominent hedge funds nurse heavy losses in 2008
Reuters- Recent stock market drops hurt some of the world’s most famous hedge fund managers, who have long attracted money with promises that they could sidestep even the worst conditions. Bruce Kovner’s Caxton Alpha Equity fund, Lee Ainslie’s Maverick Fund […]
Smiles disappearing in hedge fund land
Globe and Mail- You think you’ve got bad timing with your investments? Spare a thought, and maybe a prayer, for hedge fund manager Jim Allan. Back in the rosy hope of summer, which feels like a hundred years ago, Mr. […]
Fresh blow to banking as rogue trader costs French bank US$7.1-billion
Financial Post- French bank Societe Generale said fraud by a single trader had caused it a 4.9-billion euro (US$7.1-billion) loss and that it would seek emergency funds as a result, shocking battered markets. If fraud is proved, the loss will […]
Market falls hit hedge funds but throw up bargains
LONDON (Reuters)- Hedge funds with geared wrong-way bets in hot areas such as commodities and emerging markets are feeling the squeeze from market falls, but some top managers are using this opportunity to pick up stocks they like on the […]
New Valuation Standards May Affect Transparency and Fees
The Financial Accounting Standards Board (“FASB”) recently reaffirmed that companies, including investment managers, would be required to implement Statement 157, Fair Value Measurements (“FAS 157”), with respect to the valuation of financial assets and liabilities in fiscal years beginning after […]
Turkey Investment Fund Launch
West Palm Beach (HedgeCo.Net)- Strateji Asset Management this week announced a newly launched equity hedge fund, the VV Madaus Strategy Turkey. The new fund is Euro based with a 50.000 mimimum investment($73.000), a 1.5% management fee and a 10% performance […]
Hedge Fund Founder Sentenced for Fraud
New York Times- A founder of several Bayou Management hedge funds was sentenced to more than four years in prison Tuesday for a scheme to defraud investors. Judge Colleen McMahon in Federal District Court in Manhattan sentenced James G. Marquez, […]
Knight Charges Brit Hedge Funds
Forbes- It’s rather ironic that on a day that global markets suffered one of their worst routs since September 11, a group of top British hedge fund managers outlined their plans to improve the way they value their assets, and […]
REFILE-Hedge funds see big gains in distressed investing
Reuters- Distressed asset investing, which has been in the doldrums for years, is making a comeback among hedge funds, which predict the strategy could be a top performer in several years, investment managers told a hedge fund gathering on Tuesday. […]
Brazilian Hedge Fund Manager AFX Aquired by $20 Trillion NY Mellon Corporation
West Palm Beach (HedgeCo.Net)- Hedge fund manager ARX Capital Management has been aquired by The Bank of New York Mellon Corporation. The Brazilian hedge fund manager is headquartered in Rio de Janeiro, Brazil, and specialises in multi-strategy, long/short and long only […]
World stock markets plunge
Spero News- On Monday, fears of a US recession spilled over into Asian markets sending stocks tumbling. Indexes were hammered across the board in what turned out to be the worst day of trading since 2001. In India, the Bombay […]
Hedge fund group sharpens up voluntary standards
Reuters- A group of leading hedge fund executives published sharper standards on governance and disclosure on Tuesday in a bid to defang critics of the industry’s opacity. The Hedge Fund Working Group (HRWG), comprising 14 leading hedge fund managers mainly […]