Funds Hub
Money managers under the microscope
Morning line-up: FSA – new CEO, first criminal case lost, bank levy
News and views on the hedge fund industry from Reuters and elsewhere:
Headhunters look for FSA’s new CEO – FT
UK Chancellor unlikely to get global bank levy breakthrough – Independent
FSA loses insider dealing case – Reuters
Hedge funds hit back after ESMT report
As EU countries and the European Parliament thrash out final details of the AIFM Directive on hedge funds, particularly over the treatment of foreign fund managers, two reports lend firepower to those calling for a tougher line to be taken.
In its latest Financial Stability Review, the ECB says the financial crisis showed there are problems associated with hedge funds’ business models and they can add to market stress during volatile periods.
Morning line-up: Buffett quizzed, King’s pay, FSA powers
News and views on the fund industry from Reuters and elsewhere:
Chancellor to strip FSA of regulatory powers – Guardian
BOE’s chief refuses pay rise - Reuters
Buffett quizzed on credit agencies - Reuters
Morning line-up: Pequot, celebrity Ponzi scheme, Buffett’s subpoena
News and views on the fund industry from Reuters and elsewhere:
Pequot settles out of court on insider trading allegations- Reuters
Results revive Man
Some good news for Man Group this morning as its shares soared 6.5 percent on this morning’s full-year results.
Asset levels were actually down since the end of March (from $39.4 bln to $39 bln), but such have been the outflows from Man’s funds that these figures imply a stabilisation of assets and, according to Credit Suisse, zero net outflows.
Morning line-up: Hedge funds eye banks, Pru, longevity and state pension
News and views on the fund industry from Reuters and elsewhere:
Hedge funds eye lenders and banks - Reuters
Voting advisers say Pru paying “full price” for AIA – Reuters
UK state pension age could track longevity - Telegraph
Morning line-up: Frontiers, Citadels and NYC
News and views on the fund industry from Reuters and elsewhere:
Ex-Citadel manager plans new fund – Bloomberg
Sell in May… and put it all in hedge funds? – FT
Frontier market investors burn a lot of kerosene – Reuters
End of UK child trust funds is err… evil – WalesOnline
NYC goes venture capital – WSJ
Long-haired Lagrange brings star culture to Man
In our investor profile of GLG’s Pierre Lagrange, we highlight two very different sides of London’s hedge fund industry and a potential culture clash in Man Group’s surprise takeover of GLG this month.
REUTERS/Stefan Wermuth
In many ways, Lagrange symbolises the informal, star manager culture that GLG has based its growth on (although also suffered from after Greg Coffey’s departure and Philippe Jabre’s FSA fine).
Morning line-up:
News and views on the fund industry from Reuters and elsewhere:
Hedgie ballast – Seeking Alpha
Lagrange, the Kick-Ass connection and Lakshmi Mittal – Reuters
Never mind the kids, think of the fundies – Guardian
Asparagus and investment.. courtesy of M&G – Telegraph
‘Dumb luck’ N. Dakota and how to avoid a subprime crisis – WSJ
Morning line-up: Loopholes, yoga balls and karaoke
News and views on the fund industry from Reuters and elsewhere:
Closing tax loopholes for billionaires – Huffington Post
Fundies fall short in bid to sideline banks – Reuters
H-E-D-G-E: derivatives sing-along (Yes I know it’s old) – Merle Hazard
Chapter and verse on the US tax changes to hit funds – Reuters
