Funds Hub
Money managers under the microscope
Morning Line-up: Insider trading and hedgies outgrowing banks
News and views on the asset management industry from Reuters and elsewhere
California hedge fund manager settles SEC charges - Reuters
Top 10 hedge funds make $28 bln for clients - Financial Times
Investing in Egypt after the revolution: A fund manager’s view
Traders work at the Egyptian stock market in Cairo October 28, 2008. REUTERS/Amr Dalsh (EGYPT)
It has been two weeks since Hosni Mubarak was removed from his 30-year rule in Egypt. Banks are open and many Egyptians have resumed their jobs, but the country’s stock market remains closed and investors are wary about region. Should they be?
Morning Line-Up: Libya and Madoff, hedge funds in North Africa, China in Japan
News and views on the asset management industry from Reuters and elsewhere
Libyan state fund rejected Madoff offer – FT
Hedge funds wary of punts on North Africa chaos – Reuters
China’s stealth investments in Japan – WSJ
from Reuters Investigates:
The coming of Glencore
Checking background for our Special Report on Glencore, "The Biggest Company You Never Heard Of", I stumbled on the novel “The Fortunes of Glencore” by Charles Leve
r. On a whim I read it. There were some intriguing parallels between the 20th-century company and the book, even though that was published in 1857.
The further I read, the more I asked myself if this little heard-of scrap of 19th-century literature couldn’t be used as some kind of coda. It sounds crazy, but maybe you can understand the temptation. Glencore is a secretive, controversial Swiss-based commodities trading and mining giant, and even though it may soon be quoted on the London and Hong Kong stock exchanges, it works hard to maintain its mystique. Could this little novel be some kind of “Da Vinci Code” for Glencore?
Morning Line-Up: Hedge funds demand risk, gender-neutral pensions, Fidelity eyes China
News and views on the asset management industry from Reuters and elsewhere
Hedge funds show more appetite for risk – Financial News
Morning Line-Up: electronic bugs, leveraged loans and Norway’s SWF
News and views on the asset management industry from Reuters and elsewhere
SEC case prompts hedge funds to sweep for bugs – FT
Leveraged loans a magnet for inflation-wary investors – Reuters
Morning Line-Up: Madoff, Northern Rock, Greencore/Northern Foods
News and views on the asset management industry from Reuters and elsewhere
The costs of Madoff clean-up operation - FT
Morning Line-Up: Winters’ come back, Pru’s pension, double-dippers
News and views on the asset management industry from Reuters and elsewhere
Ex-JP Morgan Winters starts new fund – FT
Pru in pension top up court case - Guardian
“Double-dippers” in the frame in N.Y. pension debate – Reuters
Morning Line-Up: Japanese hedge, Madoff, Calpers helps probe
News and views on the asset management industry from Reuters and elsewhere:
Japan leads hedge funds return league – Reuters
Madoff says hedge funds, banks knew of his Ponzi scheme – NYT
What it looked like before it was over: Level Global and Shumway Capital 13-F analysis
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….
