Monthly Archives: June 2019
Gold off 14-mth peak as strong U.S. retail sales data lifts dollar
(Reuters) – Gold prices on Monday edged away from a 14-month peak hit in the previous session, with the dollar gaining after encouraging U.S. retail sales data tempered fears about a sharp downturn in the world’s largest economy. To read […]
Hong Kong’s Financial Elite Grow Uneasy as China Tensions Rise
(Bloomberg) They executed trades, signed deals and wooed clients. But even as Hong Kong’s financial and corporate elite carried on in the face of mass demonstrations this week, a sense of unease about the city’s future was palpable in interviews […]
Jana Builds Stake in Callaway and Plans to Push for Sale
(Bloomberg) Activist investor Jana Partners has built a stake in Callaway Golf Co. and is urging the sporting goods company to launch a strategic review, including exploring a potential sale. The New York-based hedge fund run by Barry Rosenstein said […]
Hedge Fund Adviser to Pay $5 Million for Compliance Failures Related to Valuation of Fund Assets
(HedgeCo.Net) The Securities and Exchange Commission has announced that a private fund manager in the mortgage-backed securities space has agreed to pay a $5 million penalty to settle charges stemming from compliance deficiencies that contributed to the firm’s failure to […]
Long-Shot Bid for Wells Fargo CEO Gains Steam as Others Pass
(Bloomberg) More than two months into Wells Fargo & Co.’s broad search for its next leader, a pitch to keep its interim chief is gaining a bit of steam — thanks in part to the people who don’t want the […]
It’s Over: States Lose Fight Against SALT Deduction Cap
(Bloomberg) New York, New Jersey and Connecticut have been fighting a new cap on state and local tax deductions ever since it was included in the 2017 Republican tax overhaul. To read this article:
Impact of the Evolving Relationship Between Investors and Managers on Fund Structuring
(Opalesque) A combination of diminished returns across the hedge fund industry amid challenging market conditions for generating alpha and a continued and increased focus on performance has given rise to a shift away from more traditional hedge fund products to […]
Hedge funds’ four-month run in the black ends in May with 1.47 per cent fall
(Hedgeweek) Global trade disputes and oil price downturns took a toll on hedge funds in May, bringing an end to the industry’s four-month run of positive returns. For the month, the hedge fund industry was down 1.47 per cent, according […]
Lawyers Biggest Winners In Toys ‘R’ Us Bankruptcy, Top Firm Gets $56 Million
(Forbes) When Toys ‘R’ Us filed for bankruptcy in September 2017, toy manufacturers and store workers were quick to predict that the only winners would be the lawyers. They were right. Final accounting documents filed with the bankruptcy court show […]
Final Judgment Against Investment Adviser Charged with Fraud
(HedgeCo.Net) A federal court judge has entered a final judgment against Massachusetts resident and Cape Cod-area investment adviser Kimberly Pine Kitts in an SEC case that charged Kitts with defrauding multiple clients by stealing over $3 million from their investment […]
Global smart beta adoption rates among institutional investors hit a record 58% in 2019, up 10%
(Opalesque) Global smart beta adoption rates have reached a record high of 58% in 2019, 10% higher than 2018. Notably, in 2019 nearly eight in 10 (78%) asset owners have implemented, are evaluating or plan to evaluate a smart beta […]
Investor Ackman opposes United Technologies’ aerospace merger with Raytheon
(Reuters) – Billionaire investor William Ackman’s activist hedge fund Pershing Square Capital Management LP is opposing United Technologies Corp’s planned $120 billion aerospace merger with defense contractor Raytheon Co, a person familiar with the matter said on Tuesday. To read […]