Bloomberg – Citigroup Inc., the third-biggest U.S. bank, shut a $400 million hedge fund that used the firm’s money and mathematical models to bet on stocks, according to a person familiar with the matter. The company closed the Quantitative Strategies […]

MoneyControl – The recovery of Citigroup and Bank of America provided famed hedge fund managers like Lee Ainslie and Jeff Altman some of their biggest gains last year, but now the smart money is getting out while the getting is […]

NT – Hedge funds cut bullish gasoline bets to an eight-month low after retail prices approached the highest level since 2008, curbing demand before the summer driving season began with the Memorial Day weekend. The funds and other large speculators reduced […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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, […]