MoneyScience Financial Intelligence Network
: Hedge Fund Focus 05/06/07
Mon 11 of Jun, 2007 [09:45 UTC]
Credit Suisse Index Co., Inc., has released its latest industry commentary, Event Driven for All Seasons (Related) , disclosing that the Event Driven hedge fund strategy, which includes the Distressed, Multi-Strategy and Risk Arbitrage sub-sectors, was the top performing sector over the past 12 months, returning 15.62%. The sector has benefited from a wide range of opportunities directly related to corporate capital structures presented in all market cycles.
"Event Driven hedge fund managers can shift exposures based upon opportunities in: merger and acquisition activity, global market conditions, distressed corporate situations and other corporate activities to produce attractive returns across both short and long term investment horizons, " according to the Credit Suisse Index Co., Inc. "Event Driven hedge funds, as represented by the Credit Suisse/Tremont Event Driven Hedge Fund Index, have historically produced high returns with low levels of volatility for the past ten years with a Sharpe Ratio of 1.26."
G8 summit to call for hedge fund vigilance (Related)
Leaders of the G8 powers will call this week for greater vigilance on hedge funds in the hope that the industry will take it upon itself to prevent accidents like the collapse of a hedge fund in the late 1990s.
UPDATE: Short Trades Get More Costly As Hedge-fund Biz And LBOs Boom (Related)
CNNMoney.com - USA
An explosion of assets and managers in the hedge- fund industry is changing the arcane world of short selling stocks, making the bearish trades more expensive and leaving some naive new entrants wincing.
Ex-SEC Hedge Fund Pro Harris Joins Firm (Related)
Hedge Fund Net - New York , NY , USA
Onetime SEC hedge fund enforcer Ivan Harris has joined massive law firm Morgan, Lewis & Bockius.
Man Group Plans Hedge Fund CEF (Related)
Seeking Alpha - New York , NY , USA
Is the time right for a hedge fund trading as an exchange-traded fund? An AP release (Related) announced that Man Group PLC, the world's largest hedge-fund manager, plans to list a hedge fund as a closed ended-fund on the New York Stock Exchange in its latest push to raise money from U.S. investors.
Citi rebuilds teams to plug holes in hedge fund coverage (Related)
Financial News Online US - London , UK
Citi has restructured its global fixed income sales business in an effort to boost its sales to hedge funds and proprietary trading desks.
Democrat candidates take lion's share of hedge fund campaign ... (Related)
HedgeWeek - London , UK
Candidates vying for the Democratic Party nomination for next year's US presidential election have taken around three-quarters of the campaign contributions made by hedge fund managers, according to an analysis of federal filings in the first quarter of 2007 by Absolute Return magazine and the Center for Responsive Politics.
EU Socialists Call For Hedge Fund , Private Equity Regulation (Related)
FXstreet.com The Foreign Exchange Market - Barcelona , Spain
Hedge funds and private equity groups need more regulation, the Party of European Socialists and Social Democrats and U.S. congressman Barney Frank said Monday.
Growth Of 130/30 Funds May Lift Hedge Fund Borrowing ... (Related)
CNNMoney.com - USA
Growth of so-called 130/30 and 120/20 funds may lift borrowing costs for hedge funds, according to a report released Monday by the consulting firm Vodia Group.
London hedge fund scours Japan for more deals (Related)
Reuters.uk - UK
The Children's Investment Fund (TCI) is scouring Japan for more deals but sees its struggle to raise the dividend at Japanese electric power wholesaler J-Power as a test case for further investment, a TCI executive said on Monday.
The mathematics of hedge fund activism (Related)
Financial News Online US - London , UK
Academics have a habit of taking a long time to confirm things we thought we already knew. It took Bertrand Russell years of study and 1,994 pages to prove in his Principia Mathematica that one plus one equals two. A recent academic study showing that hedge fund activism boosts the share prices of the target companies would appear to confirm this thesis.
G8 hedge fund consensus unlikely (Related)
The Standard - Hong Kong
The upcoming Group of Eight summit in Heiligendamm looks set to bring a humiliating blow for host country, Germany, which is fighting a lonely battle for regulation of the trillion-dollar hedge fund industry.
UBS Hedge Fund Loss Ensnares Wuffli With Debacle Reprising LTCM (Related)
Bloomberg - USA
UBS AG Chief Executive Officer Peter Wuffli spared no expense when he agreed two years ago to let John Costas, the top-ranking American at Switzerland's largest bank, start an internal hedge fund.
Fundamentals in India are strong for entry of foreign hedge funds (Related)
Economic Times - India
With strong economic fundamentals and powerful market support, industry experts predict India will soon rival investment opportunities in other Asian markets. Pierre Lavaud , founder of JetFin, feels India offers huge investment potential for judicious hedge fund managers and investors.
Hedge fund activism works - for now (Related)
Financial News Online US
Hedge fund activism generates big returns for shareholders - but these returns are falling as more funds chase fewer attractive targets, according to the ...
Hedge fund takes stake in Reuters (Related)
Times Online - UK
London-based hedge fund The Children's Investment Trust (TCI) has quietly bought a 1.4% stake in Reuters, the financial-information giant that is in the middle of an 8.7 billion takeover by Canadian rival Thomson.
Canadian hedge funds must still climb uphill to gain true respect (Related)
Canada.com - Hamilton, Ontario, Canada
Allan Jacobs is the latest hedge-fund convert. Named Canada's top mutual fund manager last year, his boss at Sceptre Investment Counsel Ltd. has given him the green light to start hedging.
Thames River adds two new managers to $1 billion hedge fund (Related)
CityWire.co.uk - London, England, UK
Thames River Capital has appointed two new managers to its Hillside Apex emerging markets hedge fund. Existing managers Michael Mabbutt and Bernt Tallaksken have been joined by Merhdad Noorani and Chris Currington on the fund (Thames River Hillside Apex A USD) , which runs $1 billion (500 million) in assets.
Lawyers lap up windfall from hedge-fund couples' divorces (Related)
Electric New Paper - Singapore, Singapore
Divorce - hedge-fund style - often means the judges involved must cope with pre-nuptial and post-nuptial agreements, years of fights over access to hedge-fund accounts and monetary demands well into eight and nine figures.
IPO-VIEW-Greenlight Re shares like a hedge fund bet (Related)
Reuters.uk - UK
On paper, the initial public offering last week of reinsurer Greenlight Capital Re presented a novel way for public investors to tap into the high returns generated by hedge funds.
ETG Capital launches hedge fund (Related)
Bizjournals.com - Charlotte, NC, USA
Three former energy executives are putting their expertise to work in a new energy hedge fund that opens to investors Friday. ETG Capital Management LLC , a Houston-based hedge-fund firm, was started three months ago by Don Addison, George Lyons and Randall Gibbs to trade crude oil, refined oils, natural gas and power contracts in the United States and European markets, according to Addison.
.Hedge fund money flows to US candidates in 1st qtr (Related)
Reuters - USA
For the first time ever, a hedge fund - Fortress Investments - ranks among the top 10 donors in the securities and investment industry.
Germany sees no quick deal in hedge fund campaign (Related)
San Diego Union Tribune - San Diego, CA, USA
Germany is sticking to its campaign for more oversight of the booming hedge fund industry but does not expect an early breakthrough, the country's central bank governor said on Friday.
Hedge Fund Group Concerned About Manipulation of Mortgage Bonds (Related)
Bloomberg - USA
A group of hedge funds led by Paulson & Co. that use derivatives to bet on the failures of subprime- mortgage bonds say they are concerned that securities firms may try to improperly suppress defaults.
Goldman hedge fund falls 3.4% since start of 2007 (Related)
International Herald Tribune - France
Goldman Sachs Group's Global Alpha hedge fund fell 3.4 percent in the first four months of this year, hurt by losses in the currency markets, according to a report sent to investors last week.
British Hedge Fund Targets US Market (Related)
Houston Chronicle - Houston, TX, USA
Man Group PLC, the world's largest manager of hedge fund assets, is taking steps to crack the U.S. market, as the country's pension funds, endowments and wealthy individuals pour billions of dollars into hedge fund investments.
Hedge fund giant sees profits rise (Related)
Telegraph.co.uk - London, England, UK
Man Group, the biggest listed hedge fund in the world, has enjoyed an increase in pre-tax profits as investors continued to pour money into alternative investments.
Hedge fund investors put planners in the backseat (Related)
Money Management - Australia
Nearly half (47 per cent) of first time retail hedge fund investors involve a financial planner in the transaction, according to a new Macquarie / Investment Trends Alternative Investments report.
Trian, Peltz's Activist Hedge-Fund Group, to Raise $2 Billion (Related)
Bloomberg - USA
Nelson Peltz, the billionaire investor known for pressing companies to take steps to increase their stock prices, is raising $2 billion for his hedge-fund group Trian Fund Management LP.
M&A: Citi Targets Hedge Fund Business (Related)
Bank Technology News - USA
Citi announced in May a $1.45 billion deal to purchase outsourcing provider BISYS in a transaction designed to boost the bank's administration and distribution services capabilities for the rapidly growing hedge fund, mutual fund and private equity fund industries.
Idaho hedge fund manager pleads guilty (Related)
The Lawyer - London, UK
The former head of an Idaho hedge fund firm pleaded guilty to securities fraud, according to published reports.
Atkins Could Head CFTC (Related)
Hedge Fund Net - New York, NY, USA
Paul Atkins, a hedge fund friendly member of the Securities and Exchange Commission, could be tapped to run the Commodity Futures Trading Commission.
Hedge fund manager's next stop: Acco Brands (Related)
Blogging Stocks - USA
A former Chairman of the Securities and Exchange Commission, Richard Breeden is now a hedge fund manager. He combines his extensive regulatory skills with value-oriented investment approaches.
Goldman's Global Alpha Hedge Fund Falls 3.4% in 2007 (Related)
Bloomberg - USA
Goldman Sachs Group Inc.'s largest hedge fund fell 3.4 percent in the first four months of this year, trailing peers because of losses on bonds and currencies, according to a report sent to investors last week.
A new dawn for German hedge fund investment (Related)
ICFA Online - London, London, UK
HSBC Trinkaus has designed and launched a unique investment vehicle that gives German institutions greater flexibility to invest in hedge funds. The structure – which has been established as a German spezialfond – was created for Nordrheinische Aerzteversorgung (NAEV), the pension fund for doctors in the North Rhine area.
Deutsche Bank Joins the Hedge Fund Replication Party (Related)
Seeking Alpha - New York, NY, USA
Last week, Deutsche Bankjoined the hedge fund replication party with its new "DB Absolute Return Beta Index". While it is still too early to gauge the success of the offering, the company's press release contains some hints about the way it will be spinning this latest entry in an increasingly crowded field.
Presidential Candidates Flock to Hedge-Fund Enclave (Related)
New York Times - New York, NY, USA
Senator John McCain did it. Former Gov. Mitt Romney of Massachusetts did it. President Bill Clinton, on behalf of his wife, Senator Hillary Rodham Clinton, did it. They all made recent pilgrimages to Greenwich, the leafy Connecticut suburb that is home to an inordinate number of hedge funds and, increasingly, a required stop on the presidential fund-raising tour, The New York Times reports.
InfoUSA CEO battles with hedge fund , again (Related)
Reuters - USA
InfoUSA's chief executive, who has long battled a hedge fund over the database company's future, said on Tuesday that he has shareholder interests at heart while Dolphin LP only wants to earn a "quick buck."
Kaye Scholer snaps up Robeco's hedge fund management launch (Related)
The Lawyer - London , UK
Kaye Scholer has acted for Robeco Institutional Asset Management on the formation of a hedge fund management company. The company, VCM Fund Management, has been set up jointly by Robeco and Vantage Capital Markets, with the latter receiving advice from Nabarro.
Hedge fund veteran sees major growth ahead (Related)
Reuters Italia - UK
The biggest and best-managed hedge funds will grow exponentially in coming years, fueled by pension plans and others looking for portfolio diversification, a leading industry figure told investors on Thursday.
UK fund firm Liontrust eyes hedge fund launches (Related)
Reuters.uk - UK
British fund boutique Liontrust Asset Management told Reuters on Tuesday it was planning to launch a range of hedge funds or similar portfolios for its managers, including high-profile fund manager Jeremy Lang. Liontrust, which said on Tuesday its assets under management rose 8 percent to 5.5 billion pounds ($10.93 billion) in the year to end-March, said it may launch the hedge funds next year.
Half of Britons want greater hedge fund access (Related)
Money News - Reading , UK
Over half of Britons would like to see hedge funds made widely available to the public, according to new research.
New Star re-opens access to hedge fund index (Related)
HedgeWeek - London, UK
New Star Asset Management is making a third offering of Hedge ETS, a London-listed daily tradable security. The Hedge ETS provides investors exposure to the RBC Hedge 250 Index, which has closely tracked returns on hedge funds and outperformed other recognised investable hedge fund indices.
Hedge Fund Asset Pricing: It's All About the Process (Related)
Seeking Alpha - New York, NY, USA
Roger Ehrenberg (Related) submits: People who know me know that I am way into process and control. Define the process. Test the process. Refine the process. Document the process. Communicate the process. Follow the process with rigor and collect data along the way to ensure that the process continues to be both accurate and stable. This is the way it's done.
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