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Money managers under the microscope

What it looked like before it was over: Level Global and Shumway Capital 13-F analysis

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Portfoliographics Hedge funds Level Global Investors and Shumway Capital have recently announced plans to shut their doors and liquidate their portfolios by March 31.  Of course each fund is shutting for very different reasons: After its offices were raided last year, David Ganek’s $3 billion fund Level Global found the insider trading investigation too distracting, and Chris Shumway’s plan to transfer the chief investment role of his $9 billion fund to a colleague didn’t exactly work out. They do have something in common though.  Goldman Sachs’ Petershill fund, which takes stakes in hedge funds, was an equity investor in both funds and it is unclear what the value of those equity stakes will be at the end each fund’s liquidation.

If you have ever wondered what Rome was like before it fell, here’s your chance to see what Ganek and Shumway were trading at the end of last year. The charts below are based on Thomson Reuters’ analysis of their Dec. 31, 2010 13-F filings, which were filed with the U.S. Securities and Exchange Commission yesterday.  Their positions are probably insanely different right now, but it was nice while it lasted….

Hedge fund’s wine-stained explorer’s diary tries to make investor letters less boring

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Nicolas Clavel Secretive hedge fund managers have been water-marking their investor letters for years as a way to prevent people from distributing their words of wisdom too broadly. But Nicolas Clavel of the near $100 million London and Geneva-based hedge fund Scipion Capital is taking it to new levels by sharing his wine-stained diary with  investors.

Fed up with the tedium of monthly investor letters, Clavel started adding a little more pizazz to the communications of his African and commodity focused hedge funds this summer by publishing an “African Explorer’s Diary.”

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