Monthly Archives: September 2010
China May See First Hedge Fund Registered
Shanghai Daily – E Fund Management Co plans to launch China’s first officially registered hedge fund to limit market risks through stock index futures and maximize returns of each unit of risk. The country’s second-largest asset management company will be able […]
Bookstaber To Speak At HedgeWorld As The Number of Hedge Funds Rise
New York (HedgeCo.net) – Hedge fund manager Richard Bookstaber will be speaking at is year’s HedgeWorld Fall Conference. He is the author of “A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation,” a book […]
Shumway: Another Hedge Fund Falls for BofA
Chris Shumway runs a $5 billion hedge fund and is best known for intensive fundamental research to create long/short equity portfolios. He is a ‘Tiger Cub’ because he formerly served as Julian Robertson’s right-hand man while at Tiger Management. Taken […]
Report: CIT Group again on brink of collapse
The Associated Press – CIT Group Inc. shares plunged in premarket trading Wednesday as the commercial lender is reportedly trying to craft an exchange that would cut its debt and offer bondholders an equity stake in the company in a […]
Man Group Assets On The Mend After 15-Mo Decline
Wall Street Journal – Man Group PLC said its assets are growing again after a 15-month decline that saw the funds it manages nearly halve, as redemptions from institutional clients markedly slowed in its fiscal second quarter. Funds under management […]
Investcorp Receives Approval to Issue a Further US$ 40 Million of Preference Shares to Meet Demand
Zawya – Shareholders at InvestcorpInvestcorp’s Extraordinary General Assembly today voted to issue a further US$ 40 million of preference shares to meet additional demand from investors who subscribed to Investcorp’s recent capital raise. Investcorp had received commitments in excess of […]
Opinion: Economic correction requires cultural shift
Arizona Star – Centuries ago, historians came up with a classic theory to explain the rise and decline of nations. The theory was that great nations start out tough-minded and energetic. Toughness and energy lead to wealth and power. Wealth […]
CIT’s future in question ahead of lender meeting
Lexington Herald – CIT Group Inc.’s shares soared Tuesday on a report that hedge fund manager John Paulson is considering merging the troubled finance company with failed mortgage lender IndyMac Federal Bank. But they plunged after-hours as a separate report […]
Cuomo’s Unidentified Executive in Kickback Case Said to Be Hall
Bloomberg – New York Attorney General Andrew Cuomo has alleged that an executive of Clinton Group Inc., which once managed $8 billion in assets, knew of kickbacks made to win $750 million in state pension-fund business in 2006. Cuomo identifies […]
Adaptec says Steel Partners would gut company
Reuters – Adaptec Inc, target of a proxy war led by Warren Lichtenstein’s Steel Partners, said on Tuesday the activist hedge fund wants to gut the data storage technology company, shed assets and create an acquisition vehicle fueled by Adaptec’s […]
Hedge funds find new sweet spot in sugar
New York Post – Sugar is the new crude oil for investment-hungry hedge funds, which are pushing sugar prices near 30-year highs and ushering new global shortages. After their infamous and massive bets on crude oil sent prices doubling and […]
BNY Mellon/Dreyfus Launch Two Fund of Funds
New York (HedgeCo.net) – The Dreyfus Corporation, part of BNY Mellon Asset Management, announced the introduction of the Dreyfus Satellite Alpha Fund and the Dreyfus Diversified Global Fund. “Many individual investors are seeking a professionally managed solution that enables them […]