Monthly Archives: June 2014
Former First Asset Manager Stephenson Starts Hedge Fund
Bloomberg – John Stephenson, who spent eight years tracking resources at fund manager First Asset Investment Management Inc., is creating his own hedge fund to favor U.S. equities over Canada. Stephenson, who helped manage about C$3.1 billion ($2.89 billion) at […]
Hedge fund calls on Judge Griesa to reject ‘stay’ order requested by Argentina
Merco Press – The last word, however, will be had by Griesa, who will rule on the petition tabled by Argentina. “If Argentina is really serious about its intention to negotiate a way out there is no reason why negotiations […]
Rauner Donor’s Hedge Fund Group Received $200 Million in Bailout Funds
Gapers Block – The Sun-Times reported on Friday that Citadel, a hedge fund founded by Kenneth Griffin, received $200 million in bailout funds in 2009 from AIG. Griffin recently gave Bruce Rauner’s gubernatorial campaign $2.5 million in campaign contributions. Griffin […]
Raimondo stands by hedge-fund adviser canned in Mass.
WPRI – General Treasurer Gina Raimondo is keeping for now the California financial adviser that helps her office pick hedge funds for the state’s investment portfolio, despite a recent decision by the Massachusetts pension board to cut ties with the […]
Ghana’s First Hedge Fund Planned by Ex-Exchange Regulator
Bloomberg – Tikowrie Capital Ltd., a Ghanaian money manager started by a former regulator, plans to establish the West African country’s first hedge fund. “The appetite of investors in the country has grown over the years,” Tikowrie Executive Director Maxwell […]
House Passes Hedging Deregulation Bill
New York (HedgeCo.Net) – The U.S. House of Representatives yesterday passed legislation that would significantly weaken elements of the Dodd-Frank Wall Street Reform and Consumer Protection Act put into place by Obama in 2010. The bill passed by a vote […]
AIMA Japan and Eurekahedge Gauge Asia Hedge Fund Sentiment
New York (HedgeCo.Net) – In March and April 2014, a survey was conducted by AIMA Japan and Eurekahedge looking into investment trends and key regulatory challenges facing the Asian asset management industry; with a particular emphasis on the outlook for […]
Hedge Fund Manager Balboa Gets 4 Years In Prison
New York (HedgeCo.Net) – A portfolio manager for the now collapsed hedge fund Millennium Global Investments has been sentenced to 4 years in prison and 3 years of supervised release, The Wall Street Journal reports. Michael Balboa, a London-based hedge fund manager, was […]
Florida Hedge Fund Firm Charged With $17 Million Fraud Scheme
New York (HedgeCo.Net) – A West Palm Beach-based hedge fund advisory firm and its founder have been charged by the SEC with fraudulently shifting money from one investment to another without informing investors, the South Florida Business Journal reports. The firm’s […]
Possible Offshore Deferrals For Hedge Fund Managers
Mondaq – The Internal Revenue Service (the “IRS”) has issued Revenue Ruling 2014-18 (the “Ruling”)1, which generally confirms that a stock-settled stock option or stock appreciation right that is granted with an exercise/base price of no less than the fair […]
Investment Banking and Brokerage Equities Technical Analysis
On Friday, June 20, 2014, the NASDAQ Composite ended at 4,368.04, up 0.20%, the Dow Jones Industrial Average finished the day 0.15% higher at 16,947.08, and the S&P 500 closed at 1,962.87, up 0.17%. During the session five out of ten […]
Tiger Management Backing New Asia-Focused Hedge Fund
WSJ – Julian Robertson’s Tiger Management LLC is backing startup hedge fund Kang Global Investors LP with as much as $50 million for its launch at the start of July, according to people familiar with the arrangement. Long considered one […]