Funds Hub
Money managers under the microscope
Morning Line-Up: A farourable ruling, more crisis to come and old friends tie the knot
News and views on the fund industry from Reuters and elsewhere:
Hedge funds merger to reunite star traders – Financial Times
Zimbabwe fund seeks $100 mln to ride recovery - Reuters
Noster Capital warns of new banking crisis - Daily Telegraph
UK Lehman Ruling: A win for some hedge funds – Wall Street Journal
Directors buy at battered RAB
Directors’ dealings are widely seen as a sign that management are putting their money where their mouth is, so with RAB Capital’s shares just off a year low, shareholders may be encouraged by two small, recent purchases.
Director Adam Grant spent almost £12,200 on an initial holding of 92,400 shares at 13.203 pence each, while Amanda Moore, wife of non-exec Philip Moore, paid close to £5,000 for an initial stake of 38,674 shares at 12.8334 pence each.
Morning line-up: shrinking deficits and mixed views on hedge funds
News and views on the asset management industry from Reuters and elsewhere:
Big final salary funds see deficits fall - The Independent
European Pension Scheme exits hedge funds - Wall Street Journal
Fund managers say OTC fees to hit savers - Financial Times
Morning Line-Up: More Madoff, Carlyle in China, Turbulence Assessed
News and views on the asset management industry from Reuters and elsewhere:
Madoff trustee sues family entities - Reuters
Carlyle says to set up PE joint venture in Beijing - Reuters
State Street launches indices to assess turbulence - HedgeWeek
Eurozone managers rocked by crisis, says S&P – Fund Strategy
A painful lesson in diversification
As if RAB Special Situations’ woes weren’t enough already (investing in Northern Rock before its collapse, putting a high percentage into illiquid assets, 70 percent loss in 2008, locking up investors), the company told me yesterday of more bad news.
Explorer Falkland Oil and Gas, whose shares more than halved on July 12 when it revealed it hadn’t found any oil at the part-owned Toroa well, accounted for an amazing 24 percent of Special Situations’ portfolio before the fall (and presumably rather less now).
Morning line-up: Reds, rising suns and prudish GS
News and views on the funds industry from Reuters and elsewhere:
Communist investors wanted – FT
SLI makes Japan debut – Reuters
No Sh**: Goldman bans potty-mouth emails – WSJ
Short the banks – Reuters
Are the replicants shining brightly? – ETF Database
Morning Line-Up: CIC adding staff, Connaught woes for Parvus
News and views on the asset management industry from Reuters and elsewhere:
China’s sovereign wealth fund in new hiring round – Reuters
Lawyers for Rajaratnam urge judge to scrap wire taps - Reuters
Ex-FDIC head blasts US financial reforms - Fund Strategy
SEC to address “empty voting” - Institutional Investor
Parvus nursing £70 mln loss on Connaught - Daily Telegraph
Morning Line-Up: Ikos divorce, Madoff clawback considered
News and views on the asset management industry from Reuters and elsewhere:
Mexico pension funds eye $600 million private equity stakes - Reuters
Divorce tearing apart Ikos fund - New York Post
Knight Capital Group to buy Astor Asset Management - Hedge Funds Review
Madoff trustee could sue 1,000 investors - Reuters
TR European Growth ditches discount control mechanism - Fund Strategy
Morning Line-Up: Investor influence declines, takeovers revive
News and views on the fund industry from Reuters and elsewhere:
Fund firms fret over investor activism, finds IMA survey - Reuters
Martin Currie launches new funds as part of strategic review - Fund Strategy
Merger arbitrage funds eye takeover revival - Financial Times
Pay for hedge fund IT staff surges - City AM
Habib emerges at SkyBridge
Fund of hedge funds manager Cem Habib, whose departure we revealed this week, has popped up at boutique investment bank SkyBridge Group (not SkyBridge Capital) where he will be head of international operations.
Habib’s role at the group, which has advised on a number of Kazakhstani oil and gas deals, will be to co-ordinate the firm’s activities outside Kazakhstan — a country well-known for large resources sector (and not just as the homeland of fictional TV interviewer Borat).
