Funds Hub
Money managers under the microscope
Morning Line-up: Dog funds, Asian elites and growing hedges
News and views on the asset management industry from Reuters and elsewhere:
Hedge funds took in $3.8 billion in September - Reuters
Asian equity hedge funds outperform – Financial Times
Schroders beats forecasts, shares soar – Reuters
Worst performing funds revealed - This is Money
Bill Ackman’s Howard Hughes impersonation begins…
After years of breaking his way into corporate boardrooms, activist hedge fund investor William Ackman says he is ready for everyone to get back at him. Ackman is set to become chairman of Howard Hughes Corp, a spin-off of mall owner General Growth Properties Inc, which could emerge from bankruptcy as soon as today. Ackman, however, has spent years as an activist investor, targeting some of the world’s largest companies like Target Corp and J.C. Penney, through investments at his New York-based hedge fund Pershing Square Capital Management.
At the Directorship 100 Forum in Manhattan on Tuesday Ackman told a room full of corporate board members that he knows its his turn now:
INSIDER-GLC launches two new UCITS strategies
GLC CEO Caroline Hoare tells Reuters Insider the hedge fund plans to launch two new UCITS-compliant vehicles to draw in new investors.
Manager warns of US government bond bubble
Those investors still gobbling up US government bonds as a nice defensive investment could be in for a nasty surprise, according to James Montier, a member of GMO’s asset allocation team.
Speaking at the CFA Institute’s European Investment Conference in Copenhagen, Montier said there was currently no margin of safety for investing in bonds as yields were just too low. “Rather than being a risk-free asset this could be about to become a return-free risk,” he said. “Historically, when people have bought bonds at these levels they have received a zero return or worse.”
from Reuters Money:
6 healthy healthcare funds
The following column is by Tom Roseen, senior analyst for Thomson Reuters.
Prospects may be brightening for healthcare and biotechnology stocks, now that the election is over and earnings in that sector are strengthening.
Third-quarter earnings reports and advance guidance have been fairly good, according to our Thomson Reuters Proprietary Research team. With 58 percent of the healthcare constituents of the S&P 500 reporting thus far, 86 percent have beaten their consensus earnings estimates.
Merrion profits from UK housing malaise
October may have been a strong month for markets (and therefore, by implication it seems these days, for hedge funds), but that hasn’t stopped some short-sellers from profiting.
Mike Nicol, manager of the Merrion European Absolute Return hedge fund, says he did well out of new short positions in housebuilders Barratt Developments and Taylor Wimpey. Both fell around 21 percent during the month, while the FTSE 100 rose 2.2 percent.
Morning Line-Up: Pacino, Man, SEC
News and views on the asset management industry from Reuters and elsewhere:
Five million reasons to be a hedge fund manager – WSJ Deal Journal
Hopes of client return boost Man Group shares – Reuters
Pacino moves into hedge fund world – Independent
SEC accuses LA hedge fund operators of bilking investors – LA Times
SAC Capital, Biovail finally bury the hatchet – WSJ Deal Journal
Morning Line-Up: CQS, takeovers, emerging markets
News and views on the asset management industry from Reuters and elsewhere:
French funds of hedge funds struggle to recover from the crisis – Financial News
Hintze fund snaps up farm – The Land
Hedge funds ready for takeover surge – Financial News
How to play emerging markets – WSJ
Castlestone launches automated trading service for hedge funds – HedgeWeek
Morning Line-Up: AZ’s IPO, recession predictions, Man’s jobs cull
News and views on the asset management industry from Reuters and elsewhere:
AZ Electronics boosts IPO plans- FT
