Author Archives: Editor
Former Hedge Fund Manager Caught in $276 Million Insider Trading Scheme
New York (HedgeCo.Net) – In what prosecutors are calling the most lucrative hedge fund insider-trading case ever prosecuted, the FBI yesterday unsealed charges involving insider trading during an alzheimer’s disease drug trial. Mathew Martoma, a former portfolio manager for a division of a […]
Central Banks & Hedge Funds – Gold’s Best Friends?
Resource Investor – After falling 0.94% last week, Comex gold futures rebounded 0.52% this week and ended at $1,723.60 on Tuesday. The S&P 500 index and the Euro Stoxx 50 index surged 2.05% and 3.39% this week. Crude oil futures […]
Brevan Howard on Hiring Spree as Hedge Fund Rebuilds in New York
Bloomberg – Brevan Howard Asset Management LLP, Europe’s second-biggest hedge fund, is rebuilding in the U.S. after largely pulling out during the 2008 financial crisis. The $39 billion firm, run by billionaire Alan Howard, is seeking traders for its New York office after […]
Worries on U.S. taxes drive hedge fund exits to near three-year high
Reuters – The demand from investors to pull money out of hedge funds neared a three-year high this month, industry data showed, amid concerns over U.S. taxation of wealthy individuals under President Barack Obama and lackluster hedge fund performance. Hedge […]
Fiat and Petrobras among hedge funds’ top short picks
Reuters – Singapore commodities trader Olam is not the only stock on shortsellers’ radar – higher-profile names such as Italian carmaker Fiat and Brazilian oil group Petrobras are also being targeted. Speaking at a conference, hedge fund managers including Chris […]
FDIC and FinCEN Assess Civil Money Penalty Against First Bank of Delaware
The Federal Deposit Insurance Corporation (FDIC) and the Financial Crimes Enforcement Network (FinCEN) today announced the assessment of concurrent civil money penalties of $15 million against First Bank of Delaware, Wilmington, Delaware, for violations of the Bank Secrecy Act (BSA) and anti-money laundering […]
Hedge funds end three month winning streak in October but remain in the black with gains of 4.11% YTD
The hedge fund industry now stands at 556 billion in total assets. Funds of hedge funds investing exclusively to relative value funds are up 6.54% year-to-date while emerging market funds have gained 6.18%. Other highlights include: There are currently over […]
News Corp, Porsche among top picks at hedge fund event
Reuters – Top hedge fund managers picked stocks as diverse as News Corp, holding company Porsche, and cosmetics maker L’Oreal on Monday at a hedge fund event seen by investors as revealing the industry’s top stock picks. The Ira Sohn […]
Apple: Still A Hedge Fund Haven, But Top Managers Pared Bets In Q3
Forbes – A number of top hedge fund managers dialed back their Apple holdings in Q3, just in time to avoid a slide that sent the stock tumbling from its all-time high. Looking at recently filed 13-F SEC filings, a new report […]
Hedge fund buys 9.9% stake in Groupon
Chicago Tribune – Shares of Groupon are up in premarket trading after a hedge fund disclosed it bought a 9.9 stake in the online deals company. Tiger Global said in a regulatory filing that it owns 65 million shares of […]
UBS Trader Gets Guilty Verdict
New York (HedgeCo.Net) – Kweku Adoboli, a “rogue” UBS employee has been convicted on one count of fraud, the UK jury are still considering one more count of fraud and four of false accounting, the Guardian reports. “Adoboli bowed his head when […]
Steven Colangelo “Hedge Fund Consultant” Faces 40 Years For $2.7 Million Fraud Scheme
New York (HedgeCo.Net) – Proving once again how important it is for hedge funds to properly vet their service providers, hedge fund manager/consultant Stephen Colangelo Jr., has been charged with 2 counts of scheming to defraud investors out of more than $2.7 […]