Author Archives: the HedgeCo News Team
New insurgent offer, but McDonald’s still won’t bite
Chicago Sun-Times – Insurgent shareholder William Ackman presented a new proposal to restructure McDonald’s Corp. on Wednesday — and the company rebuffed him a second time. Ackman said Oak Brook-based McDonald’s should put its company-owned restaurants into a separate corporation, […]
Mellon rebuffs hedge fund’s call to break up
Reuters – Mellon Financial Corp. (MEL.N: Quote, Profile, Research) on Wednesday defended itsrecord and rejected calls from one its largest investors to split its investment management and processing businesses to help boost the company’s share price. In a firmly worded […]
Liberty Group Presses Ahead to Sell Australia Unit, Hedge Funds
Liberty Group Ltd., South Africa’s third-biggest insurer, is pressing ahead with plans to sell an Australian unit and a hedge fund business and hopes to complete the deals quickly, Liberty Chief Executive Myles Ruck said. Liberty may receive A$150 million […]
Suit blames hedge fund for shares decline
Philadelphia Inquirer – A Boston hedge fund participated in an illegal scheme to drive down the share price of American Business Financial Services Inc., according to the bankruptcy trustee who is liquidating the former Philadelphia mortgage lender. Boston Partners Asset […]
Evergreen fund wins $1 million in suit
Denver Post – A federal judge in Denver has ordered a Tennessee money manager – accused of fraud by federal regulators – to pay $1 million to an Evergreen- based hedge fund. U.S. District Judge Richard Matsch last week awarded […]
Hedge Fund to pay $10 million to settle N.J. case
Philadelphia Inquirer – Defunct hedge fund Canary Capital Partners L.L.C. has agreed pay the state $10 million to settle allegations that it stacked the deck against ordinary investors, the NewJersey Attorney General’s Office said yesterday. Secaucus-based Canary, two of its […]
Hedge funds reduce portfolio risk
IPE.com – Using hedge funds can halve the probability of extreme loss in a portfolio, according to a new study from Edhec Risk and Asset Management Research Centre. Rather than consider hedge funds as a separate asset class, the study […]
Man Group Faces Demand for Hedge Fund’s $179 Million
Bloomberg – Man Group Plc’s U.S. brokerage unit violated a court order by failing to turn over $179 million it took from Philadelphia Alternative Asset Management, a hedge fund that collapsed last year, according to the receiver in the case. […]
Premium Content Added to DOW Jones Hedge Fund Indexes
Dow Jones Indexes, a leading global index provider, has launched a premium content section on its hedge fund indexes Web site. The new section provides in-depth analytical tools and news to give media and investors greater transparency of the Dow […]
Dollar Rises Little Against Yen in Asia
MSN MoneyCentral – TOKYO (AP) – The U.S. dollar rose against the yen and euro in Asian trading Tuesday as players took a wait-and-see approach before U.S. economic data due out this week that mayshow mild inflation. The dollar was […]
Euronext under pressure to drop LSE bid
Finextra – Pan-European exchange Euronext is under pressure from one of its largest shareholders to drop its takeover bid for the London Stock Exchange and kick-start merger talks with Deutsche Börseinstead. US hedge fund Atticus Capital – which says it […]
Hedge-like funds to be ranked
Pioneer Press – The hedge-fund industry has achieved considerable success selling investments designed to make money no matter how the stock market fares. So far, the relative handful of mutual funds using hedge-fund strategies has not made market inroads, although […]