Monthly Archives: June 2011
Hedge funds bail out as $4 gasoline cuts demand
NT – Hedge funds cut bullish gasoline bets to an eight-month low after retail prices approached the highest level since 2008, curbing demand before the summer driving season began with the Memorial Day weekend. The funds and other large speculators reduced […]
SAC Capital Faces Probe Over MedImmune Trades
TheStreet – Hedge Fund SAC Capital Advisors is being investigated by the Securities and Exchange Commission into whether traders used inside information to profit from the $15 billion takeover of MedImmune in 2007, The Wall Street Journal reported. The investigation […]
Harbinger Capital Says U.K. Wrong, Northern Rock Shares Worth $531 Million
Bloomberg – Harbinger Capital Partners, the hedge fund run by billionaire Philip Falcone, said holders of Northern Rock Asset Management Plc’s preferred shares should be paid 322.5 million pounds ($530 million). The fund owns a “substantial” amount of the shares and […]
Two Hedge Fund CEFs Consider Liquidation
Hemscott – Fund of hedge funds BlackRock Absolute Equity (BARS) is proposing to realise all investments in all three share classes and wind up the fund. Launched in April 2008, the fund raised over £160 million, but is now worth […]
Hedge funds see bargains in discount retail
Reuters – With gas prices and unemployment high, low-income shoppers are not the only ones trying to find the best bargains in discount stores. Some of the largest stock-picking hedge funds jumped into Dollar General Corp, Family Dollar Stores Inc and […]
Frost Investment Advisors’ mutual funds reach $2.5 billion in assets under management
Frost Investment Advisors, LLC, a registered investment adviser, today announced that its Total Return Bond Fund (FIJEX) has surpassed $500 million in assets under management, more than doubling since its launch in 2008. As of April 30, the fund ranked […]
Hedge Fund Trader Banned For Manipulating Stock Prices
New York (HedgeCo.net) – Financial Industry Regulatory Authority (FINRA) has permanently barred a former Deutsche Bank broker from the securities industry for manipulating the price of Monogram Biosciences (MGRM) stock in an effort to enrich a hedge fund client, himself […]
People Moves: Ross Ciesla Joins UK Hedge Fund Manager Veritas
People Moves – UK hedge fund manager Veritas Asset Management (Veritas) has appoionted Ross Ciesla as Senior Private Client Director of its private client business. Ross will start at Veritas towards the end of the year. Ross joins Veritas from […]
Active funds face squeeze in asset scramble
Reuters – Fund managers who charge clients for their asset-picking skills are facing an intense competitive squeeze as growth in new client money dwindles and performance is laid bare by the death of boom markets. This was the message at […]
Japan’s Hedge-Fund Startups Luring Investor Interest, BofA Says
Bloomberg – Japanese hedge-fund startups are beginning to attract the interest of overseas investors as the nation’s industry has the best performers this year, according to Futoshi Ago at Bank of America Corp. New hedge funds set up by managers […]
N.Y. Move Could Double-Tax Hedge Fund Managers
NYT – Finally, Gov. David A. Paterson and legislative leaders have found something they can agree on: that hedge fund managers from Connecticut and New Jersey should pay the state of New York millions more in taxes. As they grapple […]
Volcker Said to Be Disappointed With Final Version of His Rule
Bloomberg – Paul Volcker is disappointed with the final version of the rule that bears his name. As first envisioned, the Volcker rule would have banned banks from running private-equity and hedge funds, an attempt to curb risk-taking that fueled […]