Author Archives: the HedgeCo News Team
Santander Bank Struggles to Meet Redemptions, Seeks to Halt Withdrawals
New York (HedgeCo.Net) – Spanish bank Santander is seeking to freeze redemptions after stating on Monday that they currently lack the liquidity to meet the rising demands for withdrawals. Investors in the bank’s flagsihip real-estate fund, the Santander Banif Inmobiliario […]
Australian Hedge Funds Will Attract New Cash in 2009
Bloomberg – Australian hedge funds will attract a net inflow of cash in 2009 after record redemptions by overseas investors led to the closure of at least 10 funds in the fourth quarter, the local arm of the Alternative Investment […]
Madoff scandal boon for mutual funds, DWS exec says
Reuters – The Madoff scandal could be a boon for mutual funds as investors shift into regulated asset management vehicles in Luxembourg or Ireland away from hedge funds in the Caymans, a German mutual funds executive said. "There’ll be a […]
Penjing Asset Says It May Not Get Performance Fees Until 2010
Bloomberg – Penjing Asset Management, a Hong Kong-based hedge fund of funds manager overseeing about $520 million, said it may not get any performance fees until next year, and declining income will restrict staff bonuses. The company, which ran the […]
HK’s Bank of East Asia posts first loss in four decades
Forbes – Bank of East Asia, Hong Kong’s fifth-largest lender, posted a bigger-than-expected second-half loss and slashed its dividend, after selling a debt portfolio at a steep loss. The bank (BEA), which reported its first half-year loss since the 1960s, […]
Delivery on ‘absolute’ promise is relative
Lexington Herald-Leader – When does "absolute" imply something that in reality is far less than certain? When it comes to "absolute return funds." That’s the label mutual fund companies have put on hedge fund-style products that they’ve been rolling out […]
Miami CEO Dishes Out $60 Million to Thank Employees
New York (HedgeCo.Net) – While some top banking execs choose to blow millions on lavish area rugs or fancy, non functional commodes, Leonard Abess Jr. of Miami-based City National Bank had a better idea; give back to the people who […]
Mexican Hedge Fund Takes Over Canadian Mining Company
West Palm Beach (HedgeCo.net) – Canadian mining, development and exploration company, Frontera Copper Corporation, has agreed, due to the recent downturn in the copper market, to Mexican hedge fund Invecture’s hostile take over bid. After determining that the hedge fund, […]