Monthly Archives: August 2006
FSA fines hedge fund GLG Partners
LONDON (Reuters) – The Financial Services Authority said on Tuesday it had fined hedge fund manager GLG Partners and a former managing director of the firm, Philippe Jabre, 750,000 pounds each for market abuse. It is the first time the […]
More Tobacco Money Heads to Hedge Funds – International News Service
Aug. 2–MORRISVILLE — The Golden LEAF Foundation decided Tuesday to increase its hedge fund investments by $24 million, using transfers from money now invested in stocks and bonds. Board members and their financial advisers said hedge funds’ reputation as risky […]
Hedge funds prepare plans for Delphi restructuring
The two largest shareholders in Delphi are preparing a restructuring package for the bankrupt US car parts maker in an attempt to speed its exit from Chapter 11. Appaloosa Management and Harbinger Capital Partners, two hedge funds which between them […]
Fidelity and Sunguard Launch Integrated Service
BOSTON and WAYNE, Pa, August 1, 2006 – Fidelity Investments and SunGard (www.sungard.com) today announced an exclusive agreement to integrate the brokerage services of Fidelity’s Registered Investment Advisor Group with the transaction processing capabilities of the SunGard Transaction Network (STN). […]
Man Group plc offers Class I units
August 1, 2006 – London – Man Group plc, a leading global provider of alternative investment products and solutions as well as one of the world’s largest futures brokers, today announces thatMan-Glenwood Lexington TEI, LLC, its Securities and Exchange Commission […]
AIMA Highlights the new Regulatory Capital Changes
London 1st August, AIMA, the global trade organisation for hedge funds today highlighted the implementation of the Capital Requirements Directive (CRD), introduced by the European Union. The new Directive, based in part on the existing regulatory capital directive, applies to […]
Three facing SEC claims of market timing
Denver Post – The U.S. Securities and Exchange Commission on Monday accused three former Janus Capital Group executives of allowing market-timing transactions, or prohibited rapid trades in and outof mutual funds. The SEC alleges that Warren Lammert, former manager of […]
UK funds under management grow to a record 3.5 trln stg in 2005
Forbes – Assets under management in the UK fund management industry grew by 7 pct to a record 3.5 trln stg in 2005 on the back of strong growth in hedge funds and property funds as well as private client […]
A growing necessity for hedge fund valuation
WEST PALM BEACH, FL (HEDGECO.NET) – Valuation is fast becoming a critical issue, one few hedge fund managers can afford to ignore. in a recent speech, SEC commissioner Roel Campos said, “to avoid dilution and unfairness, valuation numbers must be […]
Massey Settles Hedge Fund Dispute
WEST PALM BEACH, FL (HEDGECO.NET) – Massey Energy, of Charleston, W.Va., one of the US’s largest coal miners, said it had reached an agreement with New York-based hedge fund Third Point, holder of approximately 5.9% of Massey Energy stock. Massey […]
Activist Hedge Fund Urges Sale
WEST PALM BEACH, FL (HEDGECO.NET) – Hedge Fund and shareholder Sandell Asset Management, with Houston Exploration Corp., urged the energy company to auction itself off, saying in a letter that it was“encouraged†by its previous decision to engage Lehman Brothers […]
Arizona authorities seize $101 million in Hedge Fund Probe
West Palm Beach, FL ( www.hedgeco.net ) – Arizona authorities have seized about $101 million from an account which may be associated to the Bayou Management LLC, the Connecticut based hedge fund manager currently being investigated by regulators. According to […]