Monthly Archives: June 2010
Basis Cap hedge fund sues Goldman Sachs
Trading Room – Australian hedge fund Basis Capital is suing Goldman Sachs, alleging the US investment banking giant forced one of its funds into insolvency by encouraging it to take up a “shitty deal”. Basis Capital’s Yield Alpha Fund (BYAFM) […]
Senate Seeks To Close Hedge Funds Tax Loophole
NPR – The Senate is considering a bill this week aimed at creating jobs and extending some business and family tax breaks. Lawmakers have decided to pay for those provisions by partially closing a controversial tax loophole that has allowed […]
Ore Hill Redeems Itself With Man Group’s Help
WSJ – When the financial crisis hit in 2008 and investors scrambled for cash, many hedge funds limited redemptions, locking up billions of dollars when it was needed most. While this prevented forced selling at the bottom of the market, […]
GCI, Orix Open Computer-Driven Hedge Fund to Profit From Crisis
Bloomberg – GCI Asset Management Inc. and Orix Investment Corp. will start today a hedge fund using computer models to spot trends in futures prices and profit from market turmoil. The Orix Commodities Fund will open with initial capital of […]
GHF Cap on Gold Hedge Fund Subscriptions
New York (HedgeCo.net) – The massive worldwide demand for gold investment vehicles combined with return levels far above industry norms, GHF Group has seen this fund fully subscribed in a record period of time. An alternative product is currently being […]
Hedge Fund Launch: Bandon’s Hedged Equity Strategy
New York (HedgeCo.net) – Hedge fund manager Bandon Capital Management launched the Bandon Hedged Equity, a long-short equity strategy providing exposure to domestic equity markets while minimizing the effect of the directional movements of the market. The portfolio is constructed […]
Refining-Industry Group Opposes Senate Increase In Oil-Spill Liability Tax
Dow Jones -A key oil-refining-industry organization is opposing a provision in a Senate bill that would quintuple a federal tax specifically used by agencies to clean up oil spills because it would increase fuel costs for consumers. On Tuesday, the […]
Asia Hedge Funds Decline In May Amid Rocky Markets – Eurekahedge
Dow Jones -Hedge funds in Asia excluding Japan were down almost 5% in May from April, according to Singapore-based hedge fund tracker Eurekahedge, amid a spat of negative headlines and sudden dips in the region’s markets. The Eurekahedge Asia ex-Japan […]
Hedge Fund Managers Eye Succession
NYT – Some of the world’s top hedge fund managers of the baby-boom generation are grooming potential successors to reassure investors in the event they one day step down, Bloomberg News writes. That contrasts with some older generation hedge fund […]
Losses for Bacon in Bad Month for Hedge Funds
NYT – Louis Bacon has, on average, achieved annual profits of about 20 percent over the past twenty years. But now it seems even the industry’s brightest players can’t avoid the global financial turmoil. In May, Mr. Bacon’s largest hedge […]
Volcker: Don’t exempt banks’ fund ties from rule
Reuters – White House economic adviser Paul Volcker firmly opposes exempting banks from his proposal to ban them from hedge funds or private equity funds when they make only small investments, according to a letter obtained by Reuters on Tuesday. […]
FBI Uses Terror-Probe Tactics on Fraud
WSJ – Federal Bureau of Investigation officials in New York are increasingly employing tools and techniques used to hunt terrorists to take aim at a different kind of criminal: white-collar con artists and inside traders. At a time when the […]