General News

	RBC Capital Markets snaps up Bear Stearns team	Sep 05/08
	New Page 1 RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada today announced that it has hired 11 bankers from Bear Stearns to form a new U.S. institutional equity sal...Read more
	Celent reports formidable challenges for hedge fund administrators	Sep 04/08
	With the hedge fund industry undergoing seismic shifts, fund administrators are faced with a formidable set of business and operational challenges, according to a new report from Boston-based strategic consulting firm Celent.In th...Read more
	Hedge Funds Ripe for Consolidation	Sep 04/08
	A survey released Wednesday by Global Custodian ranked the world's top hedge fund administrators and found the industry could be in for consolidation in the near future.The survey queried clients of 56 hedge fund administrators an...Read more
	Citadel, SAC Hiring Survivors	Sep 03/08
	While more than 200 hedge funds shut down this year, Balyasny, SAC Capital Advisors LLC and Citadel Investment Group LLC are going on a hiring run, Bloomberg News reports.Hedge funds, diminished by a scarcity of credit and enfeebl...Read more
	Ospraie to Close Flagship Hedge Fund After 38% Loss	Sep 03/08
	Ospraie Management LLC, the investment firm run by Dwight Anderson, will close its biggest hedge fund after slumping 38.6 percent this year because of bad bets on commodity stocks. The New York-based Ospraie Fund fell 26.7 percent...Read more
	RBC Capital Hires 11 Former Bear Stearns Bankers for Europe	Sep 03/08
	RBC Capital Markets, the investment- banking unit of Royal Bank of Canada, hired 11 former Bear Stearns Cos. bankers for a new U.S. institutional equity sales and trading team based in London and Switzerland. The team will be head...Read more
	Spouse Charged In Hedge Fund Fraud	Sep 03/08
	The Securities and Exchange Commission has amended its complaint against Wextrust Capital, its principals and four affiliated Wextrust entities, to include defendant Joseph Shereshevsky's wife, Elka.Joseph Shereshevsky and his par...Read more
	Private equity and hedge funds work both sides of the aisle	Sep 02/08
	Donations flow to Dems and GOP in hopes of saving 15% carried-interest tax rate.Hedge funds and private equity firms arguably have more to lose than any other businesses this election cycle, given the calls in Congress over the pa...Read more
	HF Chief Joins Sara Lee Board	Sep 02/08
	Jeffrey Ubben, the head of an activist hedge fund with a major stake in Sara Lee Corp., has been added to the foodmaker's board of directors, the Chicago Tribune reports.Downers Grove-based Sara Lee said it is expanding its 10-mem...Read more
	Worlds top 300 pension funds hit $12 trln-study	Sep 02/08
	Despite adverse market conditions, contributions from sponsors have helped large pension schemes to grow. LONDON (Thomson IM) - The total assets of the world's largest 300 pension funds grew by over 14 percent in 2007 to around $1...Read more
	High-profile ex-Goldman trader quits US hedge fund	Sep 02/08
	Halcyon Asset Management, the US hedge fund that scrapped a plan for an initial public offering earlier this year, told its clients that Steve Mandis, a high-profile ex-Goldman Sachs trader whose funds are down significantly had q...Read more
	Thomson Reuters links internal systems to help hedge funds	Sep 02/08
	Thomson Reuters has linked two of its internal systems to enable hedge fund managers achieve efficiencies in valuation, client reporting and portfolio management. The company has linked PORTIA, its portfolio accounting system for ...Read more
	London hedge fund four included in Trader Monthly top 30 under 30	Sep 02/08
	They are the masters of the universe in training.Hedge fund bible Trader Monthly will today publish its list of 30 of the world's top traders under 30, and four London traders are included.Alexander Baring, a scion of the famous b...Read more
	New fund of hedge funds to launch	Sep 02/08
	Star Hedge Managers Corp. has obtained a receipt for the final prospectus for the initial public offering of units. The fund will invest in a portfolio of private investment funds or portfolios managed by Rohit Sehgal of Dynamic F...Read more
	Hedge funds face struggle for survival	Sep 01/08
	Black clouds have been building over the hedge fund industry for much of the year, and a storm could break in coming weeks as investors receive their second set of lousy monthly results from funds that are meant to do well in good...Read more
	Managed Funds Association Names Exec VP	Aug 29/08
	Hedge fund trade association, Managed Funds Association, has named Roger Hollingsworth as executive vice president and managing director, government relations. Hollingsworth will be responsible for the implementation of the Associ...Read more
	RBC Dexia lands fund services deal	Aug 29/08
	RBC Dexia Investor Services has secured a major new multi-billion dollar outsourcing deal in Luxembourg.Vontobel Asset Management, part of the Swiss private bank Vontobel AG, has appointed RBC Dexia to provide custody, fund admini...Read more
	Petrobras, Potash Added to Goldman Hedge Fund List	Aug 29/08
	(Bloomberg) -- Petroleo Brasileiro SA, Brazil's state-controlled oil company, and Potash Corp. of Saskatchewan Inc., the world's largest producer of the crop nutrient, were added to Goldman Sachs Group Inc.'s list of the most popu...Read more
	French state bank urges caution on wealth funds	Aug 29/08
	PALAISEAU, France (Reuters) - Countries including France need to be pragmatic and open their arms to sovereign wealth funds but must tread cautiously to weed out the good from the bad, the chief executive of state bank Caisse des ...Read more
	Canadas 2 big banks earnings surprise	Aug 29/08
	TORONTO - Royal Bank of Canada has reported higher-than-expected earnings and Toronto-Dominion Bank experienced a boost of its quarterly dividend in outcomes that contrast with the banking sector in the United States.Royal Bank sa...Read more
	Hedge fund manager settles fraud suit	Aug 28/08
	A prominent hedge fund manager agreed to a $100,000 penalty and a five-year ban on acting as an investment adviser to settle a Securities and Exchange Commission lawsuit that accused him of misleading clients who invested $20 mill...Read more
	Sprott sees oil prices continuing to climb	Aug 28/08
	Canadian hedge fund manager Eric Sprott said he expects oil prices to rise as global crude supplies dwindle."We have an oil problem in the world, and it's called depletion," Mr. Sprott, 63, told legislators in Ottawa yes...Read more
	Tories Commit $100 million To Map Arctic Resources	Aug 28/08
	Prime Minister Stephen Harper has announced a major project to map geological resources in Canada's Arctic. Declaring "use it or lose it" as the "first principle of Arctic sovereignty," Harper says the program ...Read more
	Sovereign Funds Still see Value in Banks: State Street	Aug 28/08
	HONG KONG (Reuters)—Sovereign wealth funds will likely plough more money into capital-starved financial firms if they see long-term value, said a regional executive on Wednesday [Aug. 27] at one of the world's biggest institution...Read more
	Most Hedge Funds Don't Plan Ahead on Management: Study	Aug 28/08
	BOSTON (Reuters)—Hedge fund firms often pride themselves on being ahead of the curve on financial trends but roughly 70% lag behind on planning for their own futures, according to a study to be released on Tuesday [Aug. 26]. &quo...Read more
	Hedge funds could profit if battered financial stocks fall further	Aug 27/08
	LONDON: The trade of the moment in the hedge fund industry - betting on falling financial stocks and rising commodities - is offering further profit despite a setback in July, but fund managers may have to alter their tactics.Hedg...Read more
	Green indices launched by Dow Jones Indexes and Chicago Climate Exchange	Aug 27/08
	Dow Jones Indexes and the Chicago Climate Exchange (CCX) have launched the Dow Jones/CCX European Carbon Index and Dow Jones/CCX Certified Emissions Reductions (CER) Index. The indexes are rolling indexes that roll once a year in ...Read more
	Biden No Hedge Fund Lover	Aug 27/08
	According to Joseph Biden, the hedge fund industry and private equity deserve the blame for the global credit crisis. The Delaware senator and running mate of Democratic presidential nominee Barack Obama made that assertion in a p...Read more
	Hedgie Gets Jail Time For Trimming Trees	Aug 27/08
	A San Francisco-based hedge fund manager is being sent to the clink for five days for illegally trimming trees at a state park adjacent to his vacation home. Last week, a jury found Derek Webb guilty of vandalism, and yesterday th...Read more
	Bidens Son, Brother Face Hedge Fund Fight	Aug 26/08
	Sen. Joseph Biden (D-Del.), whose son and brother have been accused of defrauding partners in a hedge fund venture, has been tapped as the Democrats’ vice-presidential candidate.Biden’s son Hunter and brother James have been sued ...Read more
	Developing markets ideal for hedge funds	Aug 26/08
	MANAMA: Developing markets are fertile ground for hedge funds, if the funds have experienced managers, according to Paulson and Company founder and chief executive officer John Paulson."Underdeveloped markets are less efficie...Read more
	Russell Investments winds down three of its four FoHFs	Aug 26/08
	The funds Russell is closing, which focused on institutional investors, are gradually returning principal to clients, although when all the money will be reimbursed is unclear. The funds of funds' assets shrank to less than $2 bil...Read more
	Appeal of 130/30 funds swells	Aug 26/08
	The wild popularity of 130/30 funds notwithstanding, recent analysis of the unique long-short strategy suggests that advisers would be wise to check under the hood for a closer look at the portfolio and not just jump in to the lat...Read more
	Fortress Plans Hedge Fund for Mideast, North Africa Investments	Aug 26/08
	New Page 1 Fortress Investment Group LLC, the manager of $18 billion in hedge funds, plans a new fund to invest in the Middle East and North Africa as countries in the region seek to expand their economies b...Read more
	Columbia professor says hedge fund compensation scheme a success	Aug 25/08
	The subprime turmoil: What’s old, what’s new, and what’s next:he subprime crisis is the joint product of perverse incentives and historical flukes. This column explains why market actors made unrealistic assumptions about mortgage...Read more
	Barclay Hedge Fund Index slips a further 2 per cent in July	Aug 22/08
	Hedge funds lost an average of 1.99 per cent in July, according to the Barclay Hedge Fund Index compiled by Fairfield, Iowa-based BarclayHedge, and are now down by 4.44 per cent since the beginning of this year. The Barclay Fund o...Read more
	Hedge Investors on Cautious Tack in Choppy Markets	Aug 22/08
	LONDON (Reuters)—Funds of hedge fund portfolios are battening down the hatches in the current volatile markets by building up cash or steering clear of strategies with too much exposure to market movements. With returns in the he...Read more
	Korean investor linked to Lehman Brothers	Aug 22/08
	Lehman Brothers reportedly came close to striking a deal with a Korean sovereign wealth fund to inject almost $5bn into the troubled investment bank - only to see the talks collapse.Lehman chairman and chief executive Dick Fuld is...Read more
	Hedge Funds Lower Bets on Rising Stocks, Goldman Report Finds	Aug 22/08
	New Page 1 Hedge funds reduced their bets in the past year that U.S. stocks would gain as the Standard & Poor's 500 Index declined and credit conditions tightened, Goldman Sachs Group Inc. said. Such...Read more
	Emerging-market hedge funds gain traction	Aug 21/08
	Emerging-market strategies gained some momentum during the quarter ended June 30, but are still struggling, according to Hedge Fund Research Group LLC of Chicago.HFR reported today that emerging-market hedge funds took in $995 mil...Read more
	Hedge fund manager ordered to pay USD280m to defrauded investors	Aug 21/08
	Hedge fund manager Paul Eustace of Ontario, Canada, has been ordered to pay more than USD279m in restitution and a USD12m civil penalty under a court order settling an enforcement action brought against him by the US Commodity Fut...Read more
	Who Needs A Hedge Fund Anyway?	Aug 21/08
	Returns are meager or negative, capital flows are slowing and hedge funds appear to be folding at a record rate; so monied investors might be prompted to ask ... who needs a hedge fund anyway? “Institutions have taken over the he...Read more
	Ex-Amaranth trader rakes in the money	Aug 20/08
	Apparently unscarred by the Amaranth Advisors fiasco, the trader whose natural gas trades triggered the collapse of the Connecticut hedge fund manager nearly two years ago is back in business. A commodity hedge fund advised by Bri...Read more
	Receiver unlikely to recover all fraud losses	Aug 20/08
	A Canadian hedge fund manager ordered to pay almost $300m in compensation and fines after defrauding investors is unlikely to pay more than has already been recovered, according to lawyers for the receiver of the failed fund.A US ...Read more
	A TV reporter gambles, and loses, on running a hedge fund	Aug 20/08
	Do you remember a time, only a short while ago, when virtually anybody could start a hedge fund? It seemed so easy: Billions of dollars were being thrown around like confetti, even at first-time managers. Greenwich, Connecticut, t...Read more
	Hedge fund assets climb 4% in second quarter: HFN	Aug 19/08
	New Page 1 Total hedge fund assets increased an estimated 4.41% in the second quarter to US$2.973 trillion, According to a new report from HedgeFund.net (HFN). HFN reports that investors allocated an es...Read more
	Hedge fund SageCrest files for bankruptcy	Aug 19/08
	New Page 1 Hedge fund SageCrest Finance LLC, which once invested roughly $900 million, has filed for Chapter 11 bankruptcy protection. The Greenwich, Connecticut-based fund, managed by Windmill Management LLC...Read more
	Scotia Capital Canadian Hedge Fund Performance Index finished July with -6.55%	Aug 19/08
	Scotia Capital Canadian Hedge Fund Performance Index finished July with -6.55% on equal weighted basis:The index underperformed both the TSX Composite and the S&P 500 index on both an asset weighted basis and equal weighted ba...Read more
	Former UBS manager sees hedge fund plummet 85%	Aug 19/08
	New Page 1 SRM Global Master Fund, the two-year-old hedge fund established by former UBS trader Jonathan Wood, has lost 85% of its value from its inception through July, sources said, according to a repo...Read more
	Jumping off the bandwagon	Aug 19/08
	New Page 1 Middle East, Europe institutions scrutinizing hedge fundsSome Middle Eastern and European institutional investors are reviewing or reducing their hedge fund allocations, concerned that some managers...Read more

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