Funds Hub
Money managers under the microscope
Morning Line-Up: Surpassing expectations, finding the new life tough and dissent on fees
News and views on the asset management industry from Reuters and elsewhere:
Fortress earnings beat forecasts – Reuters
Proprietary traders may find hedge fund life harder – Reuters
Key Paulson funds gain but gold fund drops in July – Reuters
Asset management activity growing in Guernsey – Hedge Week
Hargreaves warns on performance fees - Daily Telegraph
Morning Line-Up: Longer living, reprieve on hedgie tax and bumper profits
News and views on the asset management industry from Reuters and elsewhere:
Pension funds add seven months to retirement lifespan – Guardian
Oaktree ends fight with Dubai for Almatis - Reuters
New York rejects tax on hedge managers - New York Times
Och-Ziff Capital quadruples profits – Financial Times
Something mushy this way comes…
Predictions for the next wrinkle in a positively rutted few years for markets tend to have us either skipping merrily into a bold new future or slumping into the despondency of another punishing economic winter.
Blame the journalists if you like. There are some whose blood is decidedly up when more excitable commentators offer views which send economies (and/or house prices for that matter) hurtling thrillingly to one extremity or the other.
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
