Author Archives: the HedgeCo News Team
Investors force Wallace out
WA Today – Richard Wallace has been ousted from the hedge fund he founded after the listed asset manager made losing bets throughout the financial crisis. Mr Wallace, who is based in Sydney, will no longer manage the Australian-listed hedge fund for […]
IRS Offers Deal to Tax Evaders
New York (HedgeCo.Net) – Wealthy Americans who have been hoarding cash overseas and failing to pay Uncle Sam are getting a break, as the Internal Revenue Service unveils a plan that will greatly reduce their penalties. The idea comes a […]
GLG hedge fund executives reduce their salaries to $1
Financial Times – The top three executives at GLG Partners, until recently Europe’s biggest hedge fund, have cut their salaries to $1 (69p) as the global financial turmoil puts pressure on senior managers to waive their pay. Noam Gottesmann and […]
Ron Geffner Defends Hedge Funds
Video discussing the new rules for hedge funds, with Ron Geffner, fmr. SEC enforcement attorney; Adam Patti, Indexiq CEO; and CNBC’s Rebecca Jarvis. Read Complete Article
Sears hedge fund guru a stranger to ‘richest’ list he once headed
Chicago Sun-Times – Sears Holdings Corp. Chairman and hedge-fund guru Edward S. Lampert failed for the fourth year to make a list he once topped — the richest hedge-fund managers in the nation. Lampert, who takes no salary from the […]
Man Group to Cut Jobs as Profit Falls, Assets Drop
Bloomberg – Man Group Plc, the largest publicly traded hedge-fund manager, said it will cut its workforce by about 15 percent after fiscal year profit dropped and assets under management declined by a third. Assets fell to $48 billion in the […]
World’s Largest Listed Hedge Fund’s Assets Fall
CNBC – Man Group , the world’s largest listed hedge fund firm, said funds under management are $47.7 billion, down 11 percent from end-December, as clients pulled out assets in the face of falling markets. The firm said net client […]
Pensions seen fuelling hedge fund industry growth
Reuters – Pension funds will likely funnel more money into hedge funds and become a powerful engine of growth for the industry in the coming months, a hedge fund industry veteran said on Wednesday. "We are finding that corporate pension […]
Hedge funds ponder Obama’s carrot, fear stick
MSNBC – Hedge funds are being offered a sweet deal to help the Obama administration rescue the U.S. banking system: A low-risk opportunity to scoop up soured bank assets that could one day make them a killing. But the deal […]
Treasury chief seeking power over hedge funds
Houston Chronicle – Treasury Secretary Timothy Geithner will ask Congress to bring large hedge funds, private-equity firms and derivatives markets under federal supervision for the first time as part of a revamp of U.S. financial rules. The Treasury chief will […]
Feds offer hedge-fund deal, with strings
Denver Post – Hedge funds are being offered a deal to help the feds rescue the banking system: A low-risk opportunity to buy bad bank assets that could one day make them a killing. But the deal could make for […]
Hedge funds that stay liquid, stay alive
Reuters – The heat is on hedge funds to outperform markets and prove their worth to skeptical investors, and to do so requires strategies based on riding out spikes in volatility, seeking liquidity and deft trading. Returns this year will, […]