Monthly Archives: June 2009
Lake Shore Asset Management chief Philip J. Baker indicted
Chicago Tribune – Federal prosecutors have unsealed a wide-ranging indictment against Philip J. Baker, accusing the head of Chicago-based hedge fund Lake Shore Asset Management Ltd. of defrauding hundreds of investors out of roughly $312 million. U.S. Atty. Patrick Fitzgerald […]
Colonial Seeks Hedge Fund to Join Gore, 452 in Alliance Stable
Bloomberg – Colonial First State, Australia’s biggest asset manager, may seek an alliance with a hedge fund to offer customers a strategy capable of profiting in rising or falling markets. The manager of about A$130 billion ($103 billion) has A$4 […]
Hedge Fund Investors Regain ‘Whip Hand’ After 2008’s Losses
Bloomberg – Hedge fund managers gathering in Monaco this week said they have work to do to regain investors’ confidence after the industry’s record losses last year. “We have to prove as an industry that we can provide absolute returns […]
Morgan Stanley Launches Enhanced Protection for Hedge Fund and Prime Brokerage Clients
West Palm Beach (HedgeCo.net) – Morgan Stanley is offering enhanced asset protection to its prime brokerage clients, announcing an expansion of its prime brokerage offering with the launch of new custodial services for long securities held by Prime Brokerage clients. […]
Hedge Funds’ ‘Dangerous Opponent’ Rasmussen Pushes EU Crackdown
Bloomberg – Buyout firms and hedge funds, “Read my lips: You’re going to have regulation.” So says Poul Nyrup Rasmussen, the Socialist Party president who conducted a two-year campaign for the first European Union regulations governing so-called alternative investors. Hedge […]
China’s Sovereign Wealth Fund Aims to Invest in Hedge Funds
Bloomberg – Felix Chee, an adviser to China’s $200 billion sovereign wealth fund, said it aims to make investments in hedge funds. “We will have a preference for managed accounts,” he said in an interview today at the GAIM International […]
Hedge fund firm GLG says industry flows stabilised
MONACO, June 17 (Reuters) – Investor flows out of the hedge fund industry have stabilised and the health of the industry has improved, GLG senior managing director Pierre Lagrange told Reuters on Wednesday. ‘Industry-wide they (flows) have stabilised,’ Lagrange said […]
QUOTEBOX: Hedge funds ponder rough year at Monaco meeting
Reuters – Hedge fund managers, administrators and investors have gathered in Monaco for the annual GAIM industry conference following a tough year marked by poor performance and client outflows. Below are selected quotes from the first day of the conference: […]
Chicago Hedge Fund Manager Indicted
New York Times – The managing director of a collapsed Chicago hedge fund, Lake Shore Asset Management, was indicted by a federal grand jury. Prosecutors say the director, Philip J. Baker, operated a $300 million fraud. The 27-count indictment was […]
China?s Sovereign Wealth Fund Aims to Invest in Hedge Funds
June 17 (Bloomberg) — Felix Chee, an adviser to China’s $200 billion sovereign wealth fund, said it aims to make investments in hedge funds. “We will have a preference for managed accounts,” he said in an interview today at the […]