Author Archives: the HedgeCo News Team
Worlds Largest Hedge Fund Manager BGI Opens Dubai Office
West Palm Beach (HedgeCo.net)- Barclays Global Investors (BGI) has opened an office in the United Arab Emirates’ Dubai International Finance Centre. BGI has been active in the region since 1998 and currently has assets under management of US$ 28 billion […]
FBI probes IndyMac Bank for possible fraud
Montreal Gazette- IndyMac Bank is under investigation by the FBI for possible fraud involving home loans made to risky borrowers, the Associated Press reported yesterday, citing an unnamed law enforcement official. The report said it was not immediately clear how […]
Fund managers most negative on equities in 10 years
Reuters- Fund managers are gloomier about equities than at any time in at least the last 10 years and aversion to risk is close to what it was during the Bear Stearns crisis in March, a Merrill Lynch poll showed […]
Ackman Adds Cash to Target Hedge Fund as Stock Slides
Bloomberg- William Ackman, the activist hedge fund manager, increased his $2 billion bet on Target Corp. as shares of the second-largest U.S. discount retailer declined as much as 38 percent in the past year, according to two people with knowledge […]
Gold funds draw investment from big miners
Reuters UK- Major gold firms grappling with declining output and surging costs are being cold-shouldered by investors opting for exposure to bullion through exchange traded funds (ETFs) or high-growth junior firms. A wave of money flowing into gold ETFs, which […]
Swiss Bank Picks Up On Electronic Trading Used By Hedge Funds
West Palm Beach (HedgeCo.net)- A Swiss Bank has picked up on a hedge fund platform, Orc Trading, to replace key technology for its electronic trading operations. The order was booked in Q1 2008. "We have thoroughly evaluated several trading systems […]
Samsung Life, Kyobo Shun U.S., Europe for Korea Bonds
Bloomberg- South Korean life insurers are shunning U.S. and European corporate bonds because of a rising risk of default and plowing money into domestic debt. Samsung Life Insurance Co., Korea’s biggest insurer, is diverting $500 million into 10-year government bonds, […]
IFSL: Big Apple Biggest Home To Hedge Funds
FINalternatives- Global hedge fund assets under management increased 30% in 2007 to a record $2.25 trillion, according to a new International Financial Services report. Most of this growth was in the first three quarters, as market turbulence in the latter […]
Ackman Adds Cash to Target Hedge Fund as Stock Price Slides 38%
Bloomberg- William Ackman put more cash into the $2 billion hedge fund he started to invest in Target Corp. as shares of the second-largest U.S. discount retailer declined 38 percent in the past year, according to two people with knowledge […]
Ex-Samsung chief handed 3-year suspended jail term
Reuters- Former Samsung Group chief Lee Kun-hee, one of South Korea‘s most powerful businessmen, was handed a 3-year suspended jail sentence on Wednesday for tax evasion, but was cleared of other charges. The court also fined Lee 110 billion won […]
Hedge Fund Manager Pali Hires M&A Veteran In Expansion
West Palm Beach (HedgeCo.net)- Hedge fund manager Pali Capital has hired M&A veteran Randal V. Stephenson as a Senior Managing Director and Head of its new Corporate Advisory Group. "Pali is in the midst of a major, global expansion,” said […]
IRS Restricts Deduction of Fund of Funds’ Management Fees
West Palm Beach (HedgeCo.net)- In a recent IRS Revenue Ruling addressing the tax treatment of management fees incurred in a “fund of funds” structure, the IRS’s has severely restricted UPTs (upper tier partnerships) from obtaining tax benefits from management fees. […]