Author Archives: Editor
SAC Capital Faces Probe Over MedImmune Trades
TheStreet – Hedge Fund SAC Capital Advisors is being investigated by the Securities and Exchange Commission into whether traders used inside information to profit from the $15 billion takeover of MedImmune in 2007, The Wall Street Journal reported. The investigation […]
Harbinger Capital Says U.K. Wrong, Northern Rock Shares Worth $531 Million
Bloomberg – Harbinger Capital Partners, the hedge fund run by billionaire Philip Falcone, said holders of Northern Rock Asset Management Plc’s preferred shares should be paid 322.5 million pounds ($530 million). The fund owns a “substantial” amount of the shares and […]
Two Hedge Fund CEFs Consider Liquidation
Hemscott – Fund of hedge funds BlackRock Absolute Equity (BARS) is proposing to realise all investments in all three share classes and wind up the fund. Launched in April 2008, the fund raised over £160 million, but is now worth […]
Hedge funds see bargains in discount retail
Reuters – With gas prices and unemployment high, low-income shoppers are not the only ones trying to find the best bargains in discount stores. Some of the largest stock-picking hedge funds jumped into Dollar General Corp, Family Dollar Stores Inc and […]
Frost Investment Advisors’ mutual funds reach $2.5 billion in assets under management
Frost Investment Advisors, LLC, a registered investment adviser, today announced that its Total Return Bond Fund (FIJEX) has surpassed $500 million in assets under management, more than doubling since its launch in 2008. As of April 30, the fund ranked […]
AIMA Guide: Institutional Investors and Hedge Fund Operational Infrastructures
New York (HedgeCo.net) -The Alternative Investment Management Association (AIMA), the global hedge fund association, has published a guide for investors and managers, written by members of AIMA’s Investor Steering Committee (ISC). “In light of the ongoing ‘institutionalisation’ of the hedge […]
BluMont Completes Hedge Fund Merger
BluMont Capital Corporation announced today that the merger of BluMont Core Hedge Fund into Exemplar Market Neutral Portfolio has been completed. The termination of the Core Hedge Fund was effective as of May 27, 2011. In that regard, BluMont Capital […]
Oil Drops on Slowing U.S. Economy, Europe Debt
Bloomberg – Oil dropped in New York, headed for its first monthly decline since August, on speculation that fuel demand will falter amid a slowdown in the U.S. economic recovery and Europe’s continuing debt crisis. Futures slipped as much as 1 percent […]
Sergei Magnitsky death: Russian police officer cleared of wrongdoing
Telegraph – The officer ordered Mr Magnitsky’s arrest on alleged tax evasion charges in 2008 after the lawyer accused him of helping to orchestrate a $230m (£140m) fraud against the Russian state. Mr Magnitsky was detained in a series of […]
A FrontPoint Founder Tries Again With a New Firm
DealBook – When FrontPoint Partners began in 2000, its founders envisioned the firm as a one-stop shop for multiple hedge funds, a distinctive strategy in an industry dominated at the time by single star managers. As FrontPoint fights to stay […]
Hedge fund Cevian hires former UK minister Myners
Reuters – Former British financial services minister Paul Myners, a strong advocate of shareholder engagement with companies in which they invest, is to join activist hedge fund Cevian Capital as chairman of its UK operations. Myners, former chairman of fund […]
Investors flee ex-GS trader’s Japan hedge fund
Reuters – Gaia Capital Management’s Japan-focused hedge fund, started by a former Goldman Sachs trader, lost more than three quarters of its roughly $150 million assets (91 million pounds) in just two months as the March 11 earthquake blew aside its assumptions, […]