Yearly Archives: 2008
Energy Hedge Funds Sputter Despite Soaring Markets
CNNMoney.com- Oil and natural gas prices have soared to new highs this year, but most energy hedge funds are having trouble turning a profit in their trades. Energy hedge fund managers interviewed by Hedge Fund Trades cited various reasons for […]
YouGov Alpha hedge fund targets $50 million
Reuters UK- Polling and research group YouGov said on Monday it is aiming to raise up to $50 million (25 million pounds) for the launch of a hedge fund that will use polling data to highlight lucrative investment strategies. The […]
Hedge Fund Manager Charged With Fraud
West Palm Beach (HedgeCo.net)- William Galvin, Massachusetts’ top securities regulator has charged the hedge fund manager of the River Stream Fund with improperly soliciting investors. The investigation also turned up a brokerage statement that showed the fund had $1,625 in its account […]
Hedge funds hurt Fifth Third’s results
Bloomberg- A sharp decline in a Fifth Third Bancorp hedge fund investment led to more than $300 million in charge-offs the bank took in the last two quarters, according to a Bloomberg report. Cincinnati-based Fifth Third had already said that […]
Burlington hedge fund agrees to pay $1M fine
The Lowell Sun – A Burlington hedge fund and its former manager have agreed to pay more than $1 million for trading on inside information surrounding the Citizen Bank’s $10.5 billion purchase of Chapter One. Federal regulators from the U.S. […]
Microsoft, Yahoo May Join Forces in Search Business
Bloomberg – Microsoft Corp., the software maker that scrapped a $47.5 billion bid for Yahoo! Inc. this month, may forge a partnership with the Internet company in the search- advertising market to challenge Google Inc. Microsoft, which abandoned its takeover […]
Wachovia, Fifth Third had losses in Citi hedge fund
Reuters – Wachovia Corp said on Monday it has had significant losses from a Citigroup hedge fund, joining Fifth Third Bancorp, which disclosed its loss in an April lawsuit. Wachovia spokeswoman Christy Phillips-Brown said a $315 million write-down the bank […]
Hedge Funds in Swaps Face Peril With Rising Junk Bond Defaults
Bloomberg – It’s Friday, March 14, and hedge fund adviser Tim Backshall is trying to stave off panic. Backshall sits in the Walnut Creek, California, office of his firm, Credit Derivatives Research LLC, at a U-shaped desk dominated by five […]
Massachusetts regulator charges hedge fund manager
Reuters – Massachusetts’ top securities regulator on Monday charged a hedge fund manager, who promised to earn as much as 20 percent for his clients, with improperly soliciting investors. William Galvin, the state’s secretary of the commonwealth, said Michael Regan […]
Delphi sues hedge fund after backing out of deal
West Palm Beach (HedgeCo.Net) – One month after Appaloosa Management backed out of a $2.55 billion deal to help lift Delphi out of Chapter 11, the Troy auto parts supplier is suing the hedge fund for damages. "Our efforts to […]
Hedge fund plunders Lehman prime execs
Asian Investor – Hedge fund manager CQS has hired Michael Schulz and Laura Hui from the prime broking department of Lehman in Hong Kong. Schulz is taking the post of risk manager for Asia at CQS. In Lehman’s prime broking […]
UBS $100 Billion Wager Prompted $24 Billion Loss in Nine Months
Bloomberg – The annual shareholders meeting of UBS AG used to be a time for Chairman Marcel Ospel to gloat over his accomplishments. Shareholders would praise Ospel for turning a slow-growing, insular Swiss bank into a global financial powerhouse, with […]