Monthly Archives: June 2019
Federal court to hear ‘Pharma Bro’ Martin Shkreli’s appeal
(Reuters) – Lawyers for former pharmaceutical executive Martin Shkreli will urge a federal appeals court on Friday to overturn his criminal conviction for defrauding investors in hedge funds he founded.Shkreli, 36, was found guilty of securities fraud and conspiracy in […]
Gold slips to 1-week low as U.S.-China trade optimism lifts risk sentiment
(Reuters) – Gold prices fell more than 1% on Monday, their lowest in a week, as hopes of a trade deal between the United States and China improved risk appetite, while a stronger dollar further weighed on prices. To read […]
Hedge fund chief Daniel Loeb opposes United Technologies, Raytheon merger
(Reuters) (Reuters) – Billionaire investor Daniel Loeb said on Friday that his hedge fund Third Point LLC will vote against the planned merger of United Technologies Corp and Raytheon Co, saying there is no “strategic rationale for this transaction.” “We […]
Severe funding problems widespread across the US state pension system
(Opalesque) Despite revenue growth and strong investment returns, the public pension funding gap for all 50 states still exceeded $1tn in 2017, according to brief by The Pew Charitable Trusts. The US state pension system is ill-prepared for the next […]
New hedge fund launches on the rise
(Opalesque) New hedge fund launches increased to begin 2019, climbing to 136 in Q1, an increase over the 111 launches in the volatile 4Q18, according to the latest HFR Market Microstructure Report. According to the report, the 136 new launches […]
State Street To Pay Over $88-Million To Settle Charges for Adding Undisclosed Markups on Client Expenses
(HedgeCo.Net) The Securities and Exchange Commission today announced that State Street Bank and Trust Company has agreed to pay over $88 million to settle charges for overcharging mutual funds and other registered investment company clients for expenses related to the […]
US managers dominate fund raising activity
(Hedgeweek) The United States dominates the PE marketplace when it comes to size of AUM size. It is estimated that the top 300 global PE managers manage USD1.5 trillion in assets, of which US-based managers account for USD1 trillion; this […]
What aren’t you telling me? Major discrepancies in hedge fund performance reporting
(Hedgeweek) The Chartered Financial Analyst Institute (CFA), one of the most important organizations in the investment industry, is expected to announce performance presentation standards for the hedge fund industry sometime later this year. Currently, they are formulating their recommendations and […]
Elliott Management Advocated for an Allergan Split Prior to Sale
(Bloomberg) Elliott Management Corp. had built a position in Allergan Plc and was pushing to split the company before AbbVie Inc. agreed to acquire it for $63 billion, according to people familiar with the matter. The hedge fund, run by […]
Why Greyhound Bus’s Biggest Shareholder Hates British Trains
(Bloomberg) Coast Capital LP, a New York hedge fund, tried and failed on Tuesday to oust the board of directors of FirstGroup Plc, an under-performing bus and train company whose assets include the Greyhound intercity bus network. Wisely, FirstGroup’s chairman […]
What China’s Greater Openness Means for Investors
(Harvest) Its economic leadership creates a potential opportunity that cannot be ignored. Many of the things that have been leveled at emerging markets over the years are now key concerns in the West: mercantilism, political instability, the wedge between rich […]
Europe’s Recovery Hinges on Fiscal Policy
(Harvest) Will Germany, the lynchpin of the eurozone economy, take the lead with fiscal stimulus by raising spending and cutting taxes to bolster Europe’s recovery? To read this article: