MoneyScience Financial Intelligence Network
: Hedge Fund Focus 15/05/07
Mon 25 of Jun, 2007 [11:14 UTC]
Stuff.co.nz - Wellington, New Zealand
Australia's richest man James Packer is planning to raise A$500 million ($NZ572 million) by listing a new investment company on the Australian Stock Exchange, the Australian Financial Review has reported.
St. Pete hedge fund manager boosts stake in energy drink maker (Related)
Milwaukee Business Journal - Milwaukee, WI, USA
Wayne Anderson was named to the board of directors of Who's Your Daddy Inc. after his Around the Clock Partners hedge fund helped raise $3.25 million for the San Diego-based energy drink company.
Hedge fund recruits former Tremont sales head (Related)
Financial News Online US - London, UK
Multi-strategy hedge fund Alexandra Investment Management has hired the former head of global sales from Tremont Capital Management as president and partner.
Edwards dodges hedge fund questions (Related)
MSNBC - USA
After running for president in 2004 on a platform of eliminating the "Two Americas" economic disparity in this country, John Edwards enjoyed some time working for a hedge fund — but he said he did it for the experience, more so than for the money. While working for Fortress Investment Group as a consultant, Edwards received an undisclosed amount of compensation. On Friday, in what seemed to be his most extensive comments on camera on the subject, Edwards dodged questions about his involvement with the hedge fund.
Hedge fund performance heads towards double digits (Related)
Financial News Online US - London, UK
Managers are satisfied with their investment performance for the first four months of the year, with early indices reporting returns of more than 5% to the end of last month.
UBS: Hedge Fund to Unwind in Months (Related)
Forbes - NY, USA
UBS AG said Monday it is confident it can reintegrate bank-sponsored hedge fund Dillon Read Capital Management in a few months. "We said the integration could take up to 12 months ... from a practical point of view, I think it will be over and done within a couple of months," the Zurich-based bank's investment banking head Huw Jenkins told investors at a conference in New York.
AdultVest Hedge Fund Turns IRA / 401k Investing Into a Sexy Proposition for Accredited Investors (Related)
PR Newswire (press release) - New York, NY, USA
The AdultVest.com website has quite arguably become the hottest investment marketplace on the internet — with hundreds of new prospective investors registering every week to gain inside access to some of the Adult Industry's sexiest and most lucrative opportunities.
Manager Frets Over the Market, but Still Outdoes It (Related)
Spartanburg Herald Journal (subscription) - Spartanburg, SC, USA
Earning 22 percent on your investments while holding half of your portfolio in cash is no easy trick, but last year Seth A. Klarman pulled it off, and it was not the first time. Mr. Klarman, a 49-year-old hedge fund manager, has turned in market-beating performances since 1983, while perpetually warning that the markets were dangerous and that investors should minimize risk.
Rest later; check pension plan now (Related)
Los Angeles Times - CA, USA
You may have money in hedge funds or other risky bets. They can win big or lose big, as San Diego learned the hard way.
Monday view: The secret world of hedge funds (Related)
Telegraph.co.uk - London, England, UK
The world's top 25 hedge fund managers earned an average of $570m each last year, despite the crush of 8,000 funds all competing for a smidgeon of extra yield in the global marketplace. That much we know.
Swiss fund moves Asia HQ to S'pore (Related)
Bangkok Post - Klong Toey, Bangkok, Thailand
Swiss-based RMF Investments has relocated its regional headquarters from Tokyo to Singapore to boost its activities in Asia, executives said Monday.
Hedge Fund Managers Step Up Activism (Related)
myfoxny.com - New York, NY, USA
With Congress always looking for new ways to boost tax receipts and protect individual investors, it's natural for hedge fund managers to worry that they have a bull's-eye on their chests — especially now that word is out that some of them made more than $1 billion apiece last year.
Carlyle to raise $1bn with fund IPO (Related)
MSNBC - USA
Carlyle Group, the private equity firm, plans to raise $1bn with its first public offering of one of its investment funds, people close to the matter said. Carlyle on Monday is expected to announce it will offer shares on Euronext in a leveraged finance fund made up mostly of mortgage backed securities.
Art fund reveals taste for the exotic (Related)
Financial Times (subscription) - London, England, UK
An art hedge fund has raised 10m and hopes to secure 25m by the time it launches this summer, demonstrating the soaring interest in exotic investments.
Scrap And Waste Metals Tempt Hedge Fund (Related)
Recycling Today - Cleveland, OH, USA
A hedge fund firm has bought $3.4 million of scrap and waste for a company that will extract strategic and base metals for resale in a deal that could lead to a private equity investment. Dublin-listed Greater Europe Deep Value Fund, advised by German-based Wermuth Asset Management, betting on high metal prices, has invested the money for a company with operations in Russia, Kazakhstan, Uzbekistan and Tajikistan.
Citi Banking, Hedge Fund Tie-In Planned (Related)
Hedge Fund Net - New York, NY, USA
Citi is working on a plan to leverage its hedge fund business with its investment banking. “They have been developing ways of working with each other that have turned out to be quite effective,'' Citi Chairman Robert Rubin told Bloomberg.
ADIC launches first multi-strategy hedge fund in Gulf region (Related)
HedgeWeek - London, UK
Abu Dhabi Investment Company has launched the ADIC Multi-Strategy Hedge Fund, a diversified fund of funds with a primary focus on investing across a range of underlying absolute return and relative value strategies.
SA’s first hedge fund blow up (Related)
Moneyweb - Johannesburg, South Africa
A hedge fund with close to R200m under management lost 66% of its clients' funds in April after a leveraged bet on the Sanlam share price went sour. This is the first time a hedge fund has "blown up" in South Africa.
Asian Investor (subscription) - Hong Kong
Hyder Ahmad, the former co-head of Goldman Sachs Asia securities, and the man responsible for risk arbitrage in its Asian equity proprietary trading department, has launched a new hedge fund that may be the biggest debut in the region.
Wealthy hedge fund managers step up Washington activism as tax rumblings grow (Related)
San Diego Union Tribune - San Diego, CA, USA
With Congress always looking for new ways to boost tax receipts and protect individual investors, it's natural for hedge fund managers to worry that they have a bull's-eye on their chests – especially now that word is out that some of them made more than $1 billion apiece last year.
HFN Q1 2007 Hedge Fund Administrator Survey (Related)
Hedge Fund Net - New York, NY, USA
HedgeFund.net has published its first ever survey of hedge fund industry administrators. The results of the survey show that administered hedge fund assets, excluding double counting of funds of hedge funds assets and assets from managed accounts, reached $2.267 trillion in over 12,600 individual funds through the end of the first quarter 2007.
Hedge fund VP, activists and pilot on CBs 2 & 3 (Related)
The Villager - New York, NY, USA
Community Board 2 received a strong infusion of change earlier this month, thanks to Borough President Scott Stringer, who, out of his 12 possible appointments, appointed 10 new members.
LTCM founder launching new hedge fund (Related)
Reuters Italia - UK
Eric Rosenfeld, a co-founder of collapsed hedge fund Long-Term Capital Management, is actively recruiting investment talent for a new quantitative investment fund, a person familiar with the situation said on Wednesday.
Rush Limbaugh Mocks Edwards Hedge Fund Stint (Related)
Hedge Fund Net - New York, NY, USA
Conservative radio talk show host Rush Limbaugh derided the notion that working in the hedge fund industry could have helped Democratic presidential candidate John Edwards “learn about poverty.”
Germany eyes hedge fund code by year-end (Related)
Reuters Italia - UK
Germany is aiming to agree the outlines of a code of conduct for hedge funds by the end of its presidency of the Group of Eight world powers this year, German Finance Minister Peer Steinbrueck told Reuters.
Hedge fund to pay $717000 to settle short-selling violations (Related)
Bobsguide - London, UK
Beleaguered hedge fund Amaranth Advisors will pay a charge of $717,000 after the Securities and Exchange Commission (SEC) uncovered evidence of illegal trading practices.
Continued debate over hedge fund rules (Related)
London Stock Exchange - London, London, UK
The European Union internal market commissioner has announced that hedge funds operating in the EU do not need to be regulated by formal, predetermined rules, despite ongoing calls for greater vigilance in the hedge fund sector.
Working at a hedge fund to learn about poverty? (Related)
Blogging Stocks - USA
I wouldn't go after Presidential hopeful John Edwards for working at Fortress Investment Group (NYSE: FIG), a hedge fund. After all, it takes a lot of lettuce to pay the property taxes on his $3.8 million home in Georgetown. But his consulting work at Fortress did draw the ire of some critics, and Mr. Edwards offered one of the most perplexing explanations I have ever heard in relation to anything: He decided to work at a hedge fund to learn about poverty, and its relationship with the financial markets.
Scrap and waste metals tempt hedge fund (Related)
Reuters.uk - UK
A hedge fund firm has bought $3.4 million (1.7 million pounds) of scrap and waste for a company that will extract strategic and base metals for resale in a deal that could lead to a private equity investment.
Ex-Student in Hedge Fund Scam Overdoses (Related)
Forbes - NY, USA
A former New York University whiz kid convicted in a massive hedge fund scam was unable to report to prison as scheduled Tuesday because he overdosed on medication, according to court papers.
Credit Suisse expands global hedge fund advisory service (Related)
Investment Executive - Toronto, Ontario, Canada
Credit Suisse announced today that it is expanding its hedge fund advisory service to its private banking clients worldwide, effective immediately. The Hedge Fund Advisory team, which was initially launched by Credit Suisse in the UK in 2005 to serve ultra high net worth private banking clients and family offices, will now be available to the bank’s private banking clients around the world, the firm said.
Losers prove worthy for Japan hedge fund (Related)
The Standard - Hong Kong
Mark Pearson's hedge funds rose to the ranks of Japan's top performers by getting rid of their best-performing shares and snapping up some of the market's worst.
A Blue-Collar Way to Get Hedge Fund Returns (Related)
TheStreet.com - USA
Do you have hedge-fund envy? It's nothing to be ashamed of. Who wouldn't want to be able to take part in an investment that's almost exclusively available to the super-wealthy? But thanks to some hedge-fund look-alikes, you too can invest like a big shot.
Ben Bernanke Warns Hedge Fund Billionaires (Related)
FOX News - USA
The contemporary art auctions at Christie's and Sotheby's, scheduled for next week, are expected to be blockbusters. The art world is buzzing; for the first time ever, a contemporary painting — Mark Rothko's' "White Center" — will draw top dollar, besting any of the other impressionist works on the block.
Mutual funds withstand hedge fund seige (Related)
The Lawyer - London, UK
Despite the continued – if slowing – growth of hedge funds, mutual funds will continue to dominate money management for the foreseeable future, said market observers at the ICI annual conference today.
Hedge fund ups stake in Mobius's Templeton trust (Related)
Reuters Italia - UK
Activist hedge fund Carrousel Capital has raised its stake in veteran manager Mark Mobius's 2 billion pound Templeton Emerging Markets investment trust, ahead of an expected share buyback.
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