Author Archives: the HedgeCo News Team
Drake’s flagship fund runs off course
MSN MoneyCentral- Drake Management, one of the best-performing hedge funds last year, is in crisis talks with investors in its flagship fund following heavy losses from bets against US Treasuries,according to several investors. New York-based Drake, which had $13bn under […]
Judge Tosses Earth Biofuels Chapter 7 Case
Motley Fool- A federal judge dismissed the bankruptcy case of Earth Biofuels Inc., which distributes country music star Willie Nelson’s biodiesel fuel, after the company agreed to an interim restructuring deal put forth by a group of hedge funds. Judge […]
Rangel Tax Measure Aims at Offshore Hedge-Fund Income
Bloomberg- House Ways and Means Committee Chairman Charles Rangel proposed new legislation to curb the reach of the alternative minimum tax and curtail a tax break for hedge funds that defer incomeoffshore. The Bush administration threatened to veto the bill. […]
Pensions grow wary of hedge funds
Financial News Online US- According to a survey of 100 European pension schemes conducted for Financial News. The Dutch and Swiss dislike hedge funds for their opaqueness, Germans for theirriskiness and the British are cautious on costs. Hedge funds prefer […]
Alternative Energy Fund Launch by Guinness Atkinson
West Palm Beach (HedgeCo.Net)- Guiness Atkinson Asset Management has launched an alternative energy fund for UK and European investors. The fund is managed by a team of three managers, with Tim Guinness as Lead Manager and Edward Guinness and Matthew […]
Bermuda battles Caymans for offshore funds
Reuters- The pastel-colored buildings lining Bermuda’s main commercial district are home to thousands of the world’s top hedge funds — from Europe’s Man Group and GAM to Connecticut’s DKR Capital. But the British colony has been struggling to catch up […]
Mindich’s Eton Park Invests in India’s Reliance Capital Asset
Bloomberg- Eton Park Capital Management LP, the hedge-fund firm founded by former Goldman Sachs Group Inc. partner Eric Mindich, acquired a stake in Reliance Capital Asset Management Ltd., India’s biggest mutual fund. Eton Park bought 5 percent of the unit […]
Hedge Funds Experiencing Staff Shortages
West Palm Beach (HedgeCo.Net)- According to a new survey conducted by CPA firm Rothstein Kass, nearly 70% of hedge funds are having difficulty retaining back-office personnel. “Hedge funds have seen tremendous inflows of capital in recent years, a trend that […]
Hedge Funds Low in November but High Year To Date
West Palm Beach (HedgeCo.Net)- The Greenwich Global Hedge Fund Index is up +10.53% year-to-date despite falling -1.61% in November, and it continues to outpace equities for the month and year. Ben Rossman, Senior Vice President of Greenwich Alternative Investments noted that, “Hedge fund […]
Nagpur-born Vikram Pandit named new Citigroup CEO
DailyIndia.com- Citigroup Inc has named its investment banking head, Vikram Pandit, as the group’s chief executive and acting CEO Win Bischoff as its chairman, disappointing investors who wanted abig-name outsider to overhaul the bank. Citi had been seeking a […]
New Tiberius fund to target price discrepancy
Reuters- Tiberius has launched a new commodity fund to reap returns from price discrepancies created by volatile commodity markets next year, the Swiss-based firm told Reuters on Monday. The fund manager thinks the time is ripe right for a new […]
Asia-focused Penta hedge funds up 123 percent through October
Reuters- Penta Investment Advisers Ltd., an Asia-focused $4.8 billion hedge fund group, is up 123 percent in both of its two main funds in 2007 through October, demonstrating the benefits ofstrong China markets, according to a recent note sent to […]