Monthly Archives: January 2009

SocGen, Agricole to merge asset management units

January 26, 2009 : Permalink

Reuters – Societe Generale and Credit Agricole have signed a preliminary agreement to merge their asset management arms and create a top 10 global player, the French banks said on Monday. The new company will be 70 percent owned by […]

Survey Finds More Job Cuts to Come

January 26, 2009 : Permalink

Street.Com – The NABE survey of 105 forecasters was taken Dec. 17 through Jan. 8. In the survey, 52% said they expected gross domestic product to fall by more than 1% this year. GDP measures the value of all goods and […]

Student Hedge Fund Ends Year in the Black

January 26, 2009 : Permalink

Cornell Daily Sun – In the midst of the country’s economic recession, the Johnson Graduate School of Management’s Cayuga Fund, a hedge fund run by faculty and students, reported a 0.42 percent gain for the 2008 business year. Although the […]

Gaps in oversight let Nadel avoid scrutiny

January 26, 2009 : Permalink

Sarasota Herald-Tribune – The U.S. Securities and Exchange Commission has hundreds of pages of complicated rules governing investment advisers. But the agency — under fire for failing to stop New York hedge fund manager Bernard Madoff and his alleged $50 […]

Why hedge funds are attractive – and risky

January 26, 2009 : Permalink

Houston Chronicle – Hedge funds, historically an investment reserved for big-ticket investors, are seemingly like mutual funds in that they typically invest in stocks and bonds. They have the added glamour and allure, however, of taking significant risks and gambles […]

Sparx to Miss March 2011 Asset Target on Market Rout

January 26, 2009 : Permalink

Bloomberg – Sparx Group Co., Asia’s biggest hedge-fund manager, will likely miss its asset management target of 5 trillion yen ($57 billion) by March 2011 because of redemptions and losses amid the global market rout. The firm has cut costs to […]

Hedge fund assets likely to lose up to $450bn

January 26, 2009 : Permalink

Business Report – Hedge funds lost more money last year than any year on record. It may get worse this year, forcing fund managers to overhaul investment strategies, reduce fees and make it easier for clients to withdraw cash. The […]

Accountant for missing Sarasota hedge fund manager wasn’t certified

January 26, 2009 : Permalink

ABC Action News – “I feel sick to my stomach. I don’t sleep well at night; I am up and down every couple of hours. Leslie Collier was on the verge of retirement until she discovered a week ago that […]

Hedge fund chiefs face grilling on role in crisis

January 26, 2009 : Permalink

guardian.co.uk – Secretive hedge fund barons, blamed by many for undermining Britain’s financial stability, will be unmasked on Tuesday when they are forced into the public spotlight by the powerful Treasury select committee. As suggestions grow that hedge funds have […]

Government may inject billions into Northern Rock

January 23, 2009 : Permalink

Reuters – The government is considering injecting as much as 10 billion pounds into Northern Rock to use the nationalised bank to ramp up mortgage lending, the Daily Telegraph reported. The Treasury has yet to make a final decision on […]

Dreier Gets $20 Million Bond, Claims He Can’t Pay

January 23, 2009 : Permalink

Bloomberg – Marc Dreier, the New York lawyer jailed since his arrest for allegedly cheating hedge funds, won’t be able to post the $20 million bond that would free him, his lawyer told a federal judge. U.S. Magistrate Judge Douglas Eaton in […]

Ellington Sues Ameriquest Over Bad Subprime Mortgages

January 23, 2009 : Permalink

Bloomberg – Ellington Management Group LLC, the hedge-fund firm focused on mortgage bonds, sued Ameriquest Mortgage Co. and other ACC Capital Holdings units over soured subprime home loans. Funds run by Old Greenwich, Connecticut-based Ellington saw the value of $354 […]