Monthly Archives: May 2008
Burlington hedge fund agrees to pay $1M fine
The Lowell Sun – A Burlington hedge fund and its former manager have agreed to pay more than $1 million for trading on inside information surrounding the Citizen Bank’s $10.5 billion purchase of Chapter One. Federal regulators from the U.S. […]
Microsoft, Yahoo May Join Forces in Search Business
Bloomberg – Microsoft Corp., the software maker that scrapped a $47.5 billion bid for Yahoo! Inc. this month, may forge a partnership with the Internet company in the search- advertising market to challenge Google Inc. Microsoft, which abandoned its takeover […]
Wachovia, Fifth Third had losses in Citi hedge fund
Reuters – Wachovia Corp said on Monday it has had significant losses from a Citigroup hedge fund, joining Fifth Third Bancorp, which disclosed its loss in an April lawsuit. Wachovia spokeswoman Christy Phillips-Brown said a $315 million write-down the bank […]
Hedge Funds in Swaps Face Peril With Rising Junk Bond Defaults
Bloomberg – It’s Friday, March 14, and hedge fund adviser Tim Backshall is trying to stave off panic. Backshall sits in the Walnut Creek, California, office of his firm, Credit Derivatives Research LLC, at a U-shaped desk dominated by five […]
Massachusetts regulator charges hedge fund manager
Reuters – Massachusetts’ top securities regulator on Monday charged a hedge fund manager, who promised to earn as much as 20 percent for his clients, with improperly soliciting investors. William Galvin, the state’s secretary of the commonwealth, said Michael Regan […]
Delphi sues hedge fund after backing out of deal
West Palm Beach (HedgeCo.Net) – One month after Appaloosa Management backed out of a $2.55 billion deal to help lift Delphi out of Chapter 11, the Troy auto parts supplier is suing the hedge fund for damages. "Our efforts to […]
Hedge fund plunders Lehman prime execs
Asian Investor – Hedge fund manager CQS has hired Michael Schulz and Laura Hui from the prime broking department of Lehman in Hong Kong. Schulz is taking the post of risk manager for Asia at CQS. In Lehman’s prime broking […]
UBS $100 Billion Wager Prompted $24 Billion Loss in Nine Months
Bloomberg – The annual shareholders meeting of UBS AG used to be a time for Chairman Marcel Ospel to gloat over his accomplishments. Shareholders would praise Ospel for turning a slow-growing, insular Swiss bank into a global financial powerhouse, with […]
Long-short funds flopped during slump
Chicago Tribune- Maybe plain-vanilla stock and bond mutual funds will do the job after all. Long-short funds — the newfangled mutual funds designed to give common investors a hedge fund experience and protection during downturns — recently went through one […]
Arpad Busson, a hedge fund
Times Online- Arpad Busson was 10 minutes late. As the 44-year-old financier (who is also actress Uma Thurman’s boyfriend) hobbled through the door of his Mayfair boardroom, it became apparent why. “I’ve done my back in,” said Busson, in a […]
‘130/30’ funds come up short of long-only peers
Baltimore Sun- Mutual fund companies come up with "new ideas" all the time, but most don’t gain any traction. So when Fidelity Investments joined the latest trend this month and opened a "130/30 fund," it signaled that the newest fad […]
YouGov Alpha hedge fund targets $50 million
LONDON (Reuters) – Polling and research group YouGov said on Monday it is aiming to raise up to $50 million (25 million pounds) for the launch of a hedge fund that will use polling data to highlight lucrative investment strategies. […]