Category Archives: HedgeCo News
“Historic” Hedge Fund Scheme Uncovered
New York (HedgeCo.Net) – The FBI has unsealed charges involving insider trading during an alzheimer’s disease drug trial that is proving to be the most lucrative hedge fund insider-trading case ever prosecuted. Mathew Martoma, a former portfolio manager for a division […]
Former Hedge Fund Manager Caught in $276 Million Insider Trading Scheme
New York (HedgeCo.Net) – In what prosecutors are calling the most lucrative hedge fund insider-trading case ever prosecuted, the FBI yesterday unsealed charges involving insider trading during an alzheimer’s disease drug trial. Mathew Martoma, a former portfolio manager for a division of a […]
UBS Trader Gets Guilty Verdict
New York (HedgeCo.Net) – Kweku Adoboli, a “rogue” UBS employee has been convicted on one count of fraud, the UK jury are still considering one more count of fraud and four of false accounting, the Guardian reports. “Adoboli bowed his head when […]
Steven Colangelo “Hedge Fund Consultant” Faces 40 Years For $2.7 Million Fraud Scheme
New York (HedgeCo.Net) – Proving once again how important it is for hedge funds to properly vet their service providers, hedge fund manager/consultant Stephen Colangelo Jr., has been charged with 2 counts of scheming to defraud investors out of more than $2.7 […]
Hedge Fund Giant Man Sells Lehman Residuals
New York (HedgeCo.Net) – Hedge fund giant Man Group has decided to sell it’s residual exposure to the collapsed US investment bank Lehman Brothers that it acquired in July 2011 from certain GLG managed funds. The residuals are being sold for $456 million, UK […]
Hedge Fund Index Down 0.18% in October
New York (HedgeCo.Net) – The Dow Jones Credit Suisse Hedge Fund Index (the “Broad Index”) finished down 0.18% for the month of October. Performance for the Broad Index and its 10 sub-strategies is calculated monthly. The following funds were dropped from […]
Hedge Fund CEO: Obama Is Right — the Rich Are Not Paying Their Fair Share of Taxes
New York (HedgeCo.Net) – Vinod Gupta, CEO of hedge fund manager Everest LLC, shares his thoughts on U.S. tax rates: “I agree with President Obama that the rich just aren’t paying their fair share. That is why we have a […]
Agecroft wins HFMweek’s and Hedge Funds Review Awards
New York (HedgeCo.Net) – Agecroft Partners was recognized by Hedge Funds Review as the 2012 Best US Third Party Marketing Firm. This was determined by voters in their industry survey which included single manager hedge funds, institutional investors, and funds of hedge funds from around the […]
Jury Chosen In $67 Million Hedge Fund Insider Trading Case
New York (HedgeCo.Net) – A hedge fund manager and a relative of another have been excused from the jury in the Manhattan trial hedge find managers Anthony Chiasson and Todd Newman, Bloomberg reports. The jury now consists of seven women and […]
SEC Charges Louisiana Hedge Fund Manager With Fraud
New York (HedgeCo.Net) – A hedge fund manager in Baton Rouge has been charged by the SEC with defrauding investors by hiding $32 million in losses. Walter Morales, Commonwealth Advisors and the hedge funds they managed bought the lowest and riskiest tranches […]
Hedge Fund Launch: FMG New Frontiers Fund
New York (HedgeCo.Net) – Emerging and frontier market investment specialist Fund Management Group (FMG) is launching a new hedge fund on January 1st 2013. “Frontier Markets represent 40% of the world’s population but only 15% of the world’s GDP, only […]