Monthly Archives: August 2011
2010’s Top Hedge Fund Manager: Bernanke Should Act On QE3
Barron’s – Don Brownstein, who runs 2010?s top performing hedge fund, wrote a letter to investors last week that criticized political leaders for focusing too much on inflation. The head of Stamford, Connecticut-based Structured Portfolio Management LLC also believes that Fed […]
Prime Cap’s China fund grows to $1.7 bln, defies Aug mkt slump
Reuters – Hong Kong-based Prime Capital Management’s Greater China long short equity hedge fund returned 0.9 percent in the first three weeks of August, increasing its year-to-date gain to 12.7 percent, according to an investor letter obtained by Reuters. The Dragon […]
Asia’s Hedge-Fund Assets to Grow, May Reach $180 Billion, Eurekahedge Says
Bloomberg – Assets managed by Asian hedge funds may exceed $180 billion in the next 12 to 18 months as the region’s growth attracts investors amid U.S. economic and Europe sovereign debt concerns, according to Eurekahedge Pte. Asian hedge-fund assets stood at […]
HedgeServ Expands, Opens London Office
New York (HedgeCo.net) – $115 billion NY hedge fund administrator, HedgeServ, has expanded its international platform with the opening of its office in London yesterday. Former vice president at the Bank of New York Mellon Alternative Investment Services Tim Jones […]
EurekaHedge Performance Update
Hedge funds were up 0.44% in July as managers provided downturn protection to their portfolios in a month that saw global equity markets decline The Eurekahedge Hedge Fund Index gained 0.44% in July; a month marked by high risk aversion arising from […]
Civil Penalties of $10.9 Million Against Ocean Bank
FinCEN – The Federal Deposit Insurance Corporation (FDIC), the Treasury’s Financial Crimes Enforcement Network (FinCEN), and the State of Florida Office of Financial Regulation (OFR) today announced the assessment of concurrent civil money penalties of $10.9 million against Ocean Bank, […]
Event-driven and special situations hedge funds enjoy a rise in assets
Opalesque – Event-driven and Special Situations hedge funds rose 4.1% or equivalent to $21.2bn in the first half of the year, bringing the group’s total assets under management (AuM) to $537.1bn halfway into 2011. In his industry report furnished to […]
Morgan Stanley at Brink Got $107B From Fed
Bloomberg – As markets convulsed in September 2008, Morgan Stanley (MS)Treasurer David Wong briefed the Federal Reserve on a “dark” scenario in which the U.S. firm would need at least $10 billion of emergency loans from the central bank. It got 10 […]
GOSSIP: Today’s Wall Street Buzz in 60 Seconds
Business Insider – WikiLeak’s Julian Assange’s right-hand man reportedly destroyed 3,500 unpublished documents including a cache of Bank of America documents. Jonathan Sorrell, the son of billionaire Sir Martin Sorrell, the chief executive of advertising firm WPP, is leaving Goldman […]
McGraw-Hill gets earful on breakup
Reuters – McGraw-Hill Companies Inc directors and executives met on Monday with Jana Partners LLC, a hedge fund, and the Ontario Teacher’s Pension Fund to hear their arguments that the company should be broken up. Jana and the pension fund […]
Goldman CEO hires prominent defense lawyer
Reuters – Goldman Sachs Chief Executive Lloyd Blankfein has hired high-profile Washington defense attorney Reid Weingarten, according to a government source, as the Justice Department continues to investigate the bank. Blankfein, 56, is in his sixth year at the helm […]