Author Archives: the HedgeCo News Team
Markets: The week that was – Shares take interest rise in their stride
Everyone was expecting an interest rate hike, but that did not stop the panicked murmuring about personal debt piles and mortgage costs hitting front pages. But the market did not react to the Bank of England’s decision: the FTSE 100 […]
Hedge Fund Investors Abandon Funds Accused in Mutual Fund Scandals
WEST PALM BEACH, FL (HEDGECO.NET) – New released survey shows that many hedge fund investors are fleeing from hedge funds charged in the mutual fund trading scandals. Late last year, New Jersey basedhedge fund manager, Canary Capital Partners LLC agreed […]
Chief Executive of CIBC Abruptly Resigns
WEST PALM BEACH, FL (HEDGECO.NET) – The Chief Executive Officer of Canadian Imperial Bank�s investment subsidiary, David Kassie abruptly resigned; just days after a former executive at the unit wascharged with helping hedge funds make illegal mutual funds trades. Statements […]
MONY wins round as judge blocks opponents of AXA deal Wall Street Watch
MONY Group, trying to win approval of its planned takeover by AXA Financial, the large French insurance company, has persuaded a federal judge to temporarily block a tactic used by an institutionalshareholder trying to keep shareholders from approving the merger. […]
Venture Firm Relocates to Wakefield, MA Improving Accessibility to Investors and Portfolio Companies
WAKEFIELD, MA February 6, 2004 — Brook Venture Partners, a venture capital firm investing in early expansion stage companies and currently raising Brook Venture Fund II, announces today it has movedits corporate office to Wakefield, MA. The new location provides […]
Ex-Chicago Options Trader Convicted of Securities Fraud
Feb. 6–A federal jury on Thursday convicted former Chicago options trader Edward Thomas Jung on 10 counts of wire and securities fraud for bilking dozens of investors out of more than $21 million. Jung’s wife, Diane Juergens, fell to her […]
Shares And Market Report: Market Movers
bICI 220.25p (up 6.25p, 2.9 per cent). HSBC Securities upgrades to “add” from “reduce” following forecast-busting fourth quarter numbers from the chemicals giant. bSmith & Nephew 498.5p (up 13.5p, 2.8 per cent). Hits its full year profit targes and issues […]
Brit Energy meltdown after hedge fund sells
AN AMERICAN hedge fund which mysteriously appeared on British Energy’s share register last Friday as the owner of a 4.56 per cent stake just as swiftly disappeared yesterday, netting a pounds 1.4mprofit. Apaloosa Investment Management, which bought 28 million shares […]
Fund abuse scandals hit new low
Daniel Calugar was what they call a whale. He was the biggest of the big fish (OK, whales are mammals) in an open sea where the small fish, as we now know, don’t really matter all that much. But in […]
MFS agrees to settlement
MFS agrees to settlement Fund to pay $350 million in trade scandal By JUSTIN POPE Associated Press Friday, February 6, 2004 Boston — The company credited with inventing the mutual fund 80 years ago was formally swept up in the […]
Investors take their money and run from tainted hedge funds
NEW YORK – Investors fled hedge funds accused of shady trading practices in droves last year as their strategies came under intense scrutiny from regulators, according to a survey. The funds saw $1.8 billion, or nearly half of their total […]
Franklin could be in deeper with SEC
Federal regulators have found that improper market-timing at San Mateo-based Franklin Resources Inc. extended beyond the arrangement with a single Las Vegas broker highlighted this week byMassachusetts authorities, a Securities and Exchange Commission official said Thursday. Franklin, the No. 4 […]