Category Archives: Syndicated
Duff Capital Advisors shrinks, stays in business
Reuters – Hedge fund firm Duff Capital Advisors, launched last year to help pension funds, endowments and insurers meet long-term funding obligations, laid off most of its staff, a person familiar with the matter said on Thursday. The company remains […]
Sorting out losses in Nadel funds complex
Sarasota Herald-Tribune – When he first invested $100,000 in Arthur G. Nadel’s Viking Fund, David Walters was elated with a 7.77 percent return in just the first three months. After the Sarasota-based fund delivered a 22 percent profit in 2004, […]
Hedge Fund Assets May Fall $450 Billion After Worst Performance
Bloomberg – Hedge funds lost more money in 2008 than any year on record. It may get worse in 2009, forcing fund managers to overhaul investment strategies, reduce fees and make it easier for clients to withdraw cash. The $1.2 […]
Dreier Gets $20 Million Bond, Claims He Can’t Pay
Bloomberg – Marc Dreier, the New York lawyer jailed since his arrest for allegedly cheating hedge funds, won’t be able to post the $20 million bond that would free him, his lawyer told a federal judge. U.S. Magistrate Judge Douglas Eaton in […]
Government may inject billions into Northern Rock
Reuters – The government is considering injecting as much as 10 billion pounds into Northern Rock to use the nationalised bank to ramp up mortgage lending, the Daily Telegraph reported. The Treasury has yet to make a final decision on […]
Dreier Claims His Son Was Promised Property, Prosecutors Say
Bloomberg – Marc Dreier, the New York lawyer accused of cheating hedge funds, said he told his 19-year-old son he could have properties worth $12.5 million after the teenager agreed to spend the summer with him, prosecutors said. Assistant U.S. Attorney […]
SEC charges missing money manager Nadel with fraud
PR Inside – Federal regulators on Wednesday charged a missing hedge fund manager with fraud, saying he misled investors and overstated the value of investments in the six funds by about $300 million. The Securities and Exchange Commission won a court […]
Hedge funds see $155 billion of withdrawals
ArabianBusiness.com – A record $155 billion was pulled out of hedge funds last year, punishing the once red-hot asset class for delivering its worst-ever returns, according to numbers released on Wednesday. Chicago-based tracking firm Hedge Fund Research said hedge funds […]
Suspected NYSE insider trading rose in 2008
Reuters – Suspected insider trading cases reached an all-time high last year, driven less by hedge funds and more by pillow talk between relatives and friends, the head of surveillance at the New York Stock Exchange said on Wednesday. In […]