Monthly Archives: June 2010
House Bill On Carried Interests May Affect Hedge Funds
New York (HedgeCo.net) – The House of Representatives recently passed legislation pushing back the effective date of a proposed tax increase on hedge fund managers which would prevent a portion of their income realized from carried interests in investment partnerships […]
Hedge Funds Down -2.99% In May
New York (HedgeCo.net) – The Hennessee Hedge Fund Index declined -2.99% in May (+1.57% YTD), while the S&P 500 decreased -8.20% (-2.30% YTD), the Dow Jones Industrial Average declined -7.92% (-2.79%), and the NASDAQ Composite Index fell -8.29% (-0.53% YTD). […]
Hedge fund group spent $1.4 million lobbying in 1Q
BusinessWeek – A trade group representing hedge funds spent nearly $1.4 million in the first quarter lobbying federal officials on proposed financial regulations, including stricter oversight of derivatives trading. The $1.37 million that the Managed Funds Association spent on lobbying […]
Lampert’s $829 Million Payout May Shield Him From Tax Increase
Bloomberg – Billionaire Edward Lampert may have found a way to shield himself from millions of dollars in taxes under legislation that would raise levies on profits at private- equity firms. ESL Partners LP, the Greenwich, Connecticut, hedge fund Lampert […]
Hedge Funds Struggle Amid Manager Scandals
TheStreet – Some of the biggest victims of the Madoff scandals were investors who relied on vehicles known as funds of hedge funds. Hundreds of millions of dollars vanished from funds of funds run by Maxam Capital Management and Tremont […]
Schumacher, MacBain Start Low-Cost Hedge Fund, Globe Says
Bloomberg – Two of Canada’s bond market veterans are seeking to raise C$100 million ($94.4 million) for a hedge fund that will invest in debt securities while keeping fees below industry benchmarks, the Globe and Mail reported. John Schumacher, former […]
State releases details of hedge fund investments
AP – State investment managers are making partially good on a pledge to make public details of their almost $3 billion in hedge funds. The Juneau Empire, which filed a public records request for the information, says the disclosure includes […]
Opalesque: Hedge Funds Engage in “Armageddon Strategies”
New York (HedgeCo.net) – Opalesque has released the 32nd issue in a series of regional roundtable forums – the 2010 Opalesque West Coast Roundtable. The 25 page Roundtable publication covers “Armageddon” strategies and how plan sponsors have changed their game […]
The SEC’s New Focus on Insider Trading by Hedge Funds
Hedge Fund Law Report – The Securities and Exchange Commission (SEC) has attempted to stop insider trading since its creation. Eliminating this misconduct has proven to be an elusive goal, as the Boesky scandal of the 1980s demonstrated. The growth […]
Citadel’s Kenneth Griffin pitches new funds to hardened investors
Chicago Business – Citadel Investment Group LLC CEO Kenneth Griffin is trying to convince hedge-fund investors he’s still got the magic touch. Mr. Griffin has been traveling the world in search of capital for two new Citadel funds, reminding potential […]
Banking veterans to offer fund with cut-rate fees
CTV News – Two of Canada’s most experienced bond market veterans are leaving behind careers in banking to open a hedge fund that they hope will shake up the industry by charging much lower fees. John Schumacher, former co-chief executive […]