Yearly Archives: 2008
BIO Congratulates President-Elect Obama on His Presidential Election Victory
West Palm Beach (HedgeCo.net) – The following statement was issued by Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood following the U.S. elections: "On behalf of the more than 1,200 members of the Biotechnology Industry Organization, I offer our […]
Hedge funds count the cost of trading losses
Guardian.co.uk – Hedge funds and banks are expected to bear the brunt of derivative losses estimated at $15bn (£9.4bn) linked to the collapse of Iceland’s three major banks – Landsbanki, Glitnir and Kaupthing – which failed in rapid succession last […]
World’s biggest listed hedge fund manager Man Group sees profits slide
Daily Mail – Man Group, the world’s biggest listed hedge fund manager, saw profits slide 24 per cent in the last six months as its managed funds fell and fee income dwindled. It took $107million (£67.4million) hit on upfront commissions […]
‘Wave’ of credit crunch cases set to emerge
Times Online UK – Litigation departments at the City’s leading law firms have grown significantly busier in recent weeks as investors turn to legal action to recover losses suffered as a result of the financial crisis. Although lawyers have been […]
Art market feels global financial pinch
Boston Globe – On Day 2 of the fall auction season, a Russian masterpiece expected to sell for up to $3 million at auction did not find a buyer yesterday, further underscoring the impact of the global financial crisis on […]
Stock futures point to weaker Wall Street open
MSN MoneyCentral – Stock futures fell on Thursday, pointing to a weaker open on Wall Street, with the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes down 1.4-2.8 percent. Highlights: * Walt Disney reports results […]
Brazil Hedge Funds See Record Outflows Even as They Beat Market
Bloomberg – Brazilian hedge funds saw a record 14.3 billion reais ($6.7 billion) in withdrawals last month after returns trailed a fixed-income benchmark even while defying a 25 percent plunge in the Bovespa stock index. The redemptions brought total outflows […]
Man Group a consolidator in hedge industry
Reuters – Man Group plans to be a consolidator in the hedge fund industry in the long-term, said Chief Executive Peter Clarke, who thinks the industry could see redemptions of between a third and a quarter at the year-end. "Consolidation […]
PMA says Harvester hedge fund up 4.83 pct in Oct
Reuters – Hedge fund manager PMA said on Wednesday its flagship macro vehicle focusing on foreign exchange and interest rate markets returned 4.83 percent in October, even as the global financial crisis ravaged many of its peers. The unit of […]
Hedge fund lowers takeover bid for Epicor Software
CNNMoney.com – New York hedge fund Elliott Associates LP lowered its offer price Tuesday for Epicor Software Corp., saying in a letter it was "extremely disappointed" Epicor’s board had recommended shareholders reject a takeover. Elliott, a large shareholder in the […]
Hedge fund Autonomy Capital halts withdrawals-report
Reuters – Autonomy Capital Research LLP, a $1.7 billion hedge-fund firm run by former Lehman Brothers Holdings Inc trader Robert Gibbins, halted withdrawals from its flagship fund after losses this year, Bloomberg reported on Tuesday. The $1.2 billion Autonomy Capital […]