Yearly Archives: 2008
Britain’s FSA Cracks Down on Insider Trading
New York (HedgeCo.Net) – The British Financial Services Authority has imposed a fine on Steven Harrison for about $93,000 after accusing him of market abuse. Harrison will not be allowed to work as a trader for the next 12 months. […]
Blackstone and KKR eye Lehman assets
Reuters – Blackstone and Kohlberg Kravis Roberts & Co are each looking to buy parts of Lehman’s real estate and asset management units, sources familiar with the situation said on Friday, sparking a broad rebound in financial stocks. The real […]
Volatility Hedge Funds Outperform Industry First Time Since 2003
Bloomberg – Hedge funds that profit from turbulence in the financial markets are beating stock, bond and commodity investments for the first time in five years. Volatility hedge funds climbed 7.3 percent this year through August, according to the Newedge […]
Some hedge funds see assets shrivel in 1st half
Reuters – Some of the world’s biggest hedge funds suffered a dramatic drop in assets in the first half of 2008 as financial markets tumbled and many investors asked for their money back, according to a survey released on Monday. […]
Hedge Fund Man Group Hires New Middle East CEO
West Palm Beach (HedgeCo.net) – The CEO of Man Group, Peter Clarke, announced the appointment of the new CEO of the Middle East arm as Patrick Merville, to take effect from 1 October, following the retirement of Antoine Massad. Man, […]
Hedge Funds’ Capital Idea: Fee Cuts
Wall Street Journal – In another sign of the changing power dynamics between hedge funds and their investors, funds are offering to cut fees if investors agree to stay put. Camulos Capital LP in a letter last week asked its […]
Nippon Life Targets Hedge Funds, Considers Distressed Assets – Bloomberg
Bloomberg.com: Asia – Nippon Life Insurance Co., Japan’s biggest life insurer, said it will boost hedge fund investments and may target distressed assets to take advantage of volatility caused by the collapse of the U.S. subprime mortgage market. Nippon Life, […]
Wall Street Jounal Columnist Speaks at Hedge Fund Summit
West Palm Beach (HedgeCo.net) – Wall Street Journal columnist Gregory Zuckerman and Ely Razin, senior director of strategy, Westlaw Business, will deliver a luncheon presentation on "State of the Hedge Funds for 2008" at a upcoming Hedge Fund General Counsel […]
Colorado Hedge Fraudster Will Serve 24 Years
New York (HedgeCo.Net) – Hamilton Alan Bird, formerly of XL Capital Partners, who headed the scheme that swindled over $7.5 million of investors’ money, has been sentenced to 24 years in prison. The Colorado Springs resident received his fate on […]
Hedge Fund Gartmore Launches Absolute Return Fund
West Palm Beach (HedgeCo.net) – Hedge Fund manager Gartmore Investment Management Limited is launching the Gartmore European Absolute Return Fund, to be co-managed by Roger Guy and Guillaume Rambourg, subject to regulatory approval. The new fund will be a UCITS […]
Major hedge fund set to leave London for lower Swiss taxes
Evening Standard – Krom River, which has £453 million in assets, said it was moving to Switzerland, known for its low tax regime. The fund is one of the few to perform well in the credit crunch and would see […]
Wall St and funds urge SEC to keep ratings in rules
Reuters – Securities regulators are locking horns with some of the U.S.’s most powerful mutual funds and Wall Street players over plans to scrap requirements that money market funds hold investment-grade securities. For years, the Securities and Exchange Commission allowed […]