Monthly Archives: June 2012
Ex-Lehman trader quits as Asia hedge funds falter
HONG KONG (Reuters) – Smaller-sized hedge funds are increasingly throwing in the towel in Asia as they struggle to attract money from risk-wary institutional investors, casting a cloud over prospects of the $128 billion industry. The latest to quit is […]
SEC says taking “close look” at #zombie funds
Reuters – U.S. regulators are looking at so-called #zombie funds where money managers continue to get paid from investors even though the fund is essentially inactive, a top Securities and Exchange Commission official said on Sunday. “We are going to […]
Hedge Fund Charity to Honor Warrick Dunn
New York (HedgeCo.net) – Former NFL star running back Warrick Dunn will be honored for his outstanding charitable contributions at A Little Hope’s ‘A Night For Our Children’ 11th annual fundraising gala. A Little Hope is a non-profit, hedge fund […]
Hedge Fund Manager Kellner DiLeo Rebrands as Kellner Capital
New York (HedgeCo.net) – Kellner DiLeo & Company, LLC, a more than three decade-old hedge fund manager, has been reorganized and renamed Kellner Capital, LLC, and has launched a new event-driven investment fund. George Kellner, Founder and CEO, said, “The Firm […]
Mutual Funds Group Urges Limits On Hedge Fund Advertising
Bloomberg – Mutual funds are pushing for limits on hedge fund advertising permitted under the Jumpstart Our Business Startups Act, saying such ads may hurt investors and damage the entire fund industry. The law’s repeal of a ban on the […]
Broker fees for U.S. stock trading fell to lowest since 2006
Stamford Advocate – U.S. securities firms received the lowest commissions from equities trading since 2006 amid a fifth straight year of outflows from stock funds and the worst returns during the bull market that began in 2009. The industry split $10.9 […]
Rajat Gupta secretly served Rajaratnam’s hedge fund: Prosecution
Daily News India – Prosecutors in the insider-trading trial of Rajat Gupta have suggested he leaked information about Goldman Sachs to convicted hedge fund billionaire Raj Rajaratnam because he was secretly serving as an executive of his Galleon Group. Indian-American […]
Insight – Gains that funds made on bets by JPMorgan whale may be limited
Reuters – JPMorgan Chase & Co’s losing bets in credit derivatives were so huge that one of its traders was known as “the London whale” and the hedge funds that attacked him have often been portrayed as harpooners who made […]
With Megadonations for Both Parties, a Hedge Fund Hedges Its Political Bets
MJ – Among the 15 top donors to outside political groups this election cycle, only two happen to work for the same company: James Simons, the billionaire founder and chairman of the hedge fund Renaissance Technologies is a prominent Democrat. […]
Ontario Power Authority offers U.S. hedge fund $82.3 million to settle Mississauga power plant dispute
The Star – The Ontario Power Authority offered to pay a U.S. hedge fund $82.3 million to settle a lawsuit over the province’s decision to cancel construction of a gas-fired power plant in Mississauga. But the hedge fund rejected the […]
SFO Aiding SEC In Sovereign Wealth Fund Probe
WSJ: U.K. prosecutors are helping the U.S. Securities and Exchange Commission with inquiries into whether financial firms violated foreign bribery laws in their dealings with sovereign-wealth funds. “We’re talking to the Americans about various issues,” Richard Alderman, director of the […]
Why Barack Obama’s Hedge Fund Tax Hike Won’t Work
CNBC: Barack Obama’s plans to reduce the budget deficit by raising taxes on hedge fund managers show that he’s more interested in political theater than responsibly dealing with the budget. When Obama says he wants to end the “tax break” […]