Funds Hub
Money managers under the microscope
Morning Line-Up: Muni-bonds, Justice, Berkshire Hathaway’s latest
News and views on the asset management industry from Reuters and elsewhere:
SECÂ eyes US municipal bond disclosure – FT
Berggruen’s Justice raises more than planned in fund listing – Reuters
Smith attacks hedge funds’ 2 and 20
Here’s the link to Terry Smith’s blog attacking the “unsupportable” practice of hedge funds charging their clients fees of 2 and 20 (2 percent annual and 20 percent performance).
Smith compares the maths that show a $1,000 investment in Berkshire Hathaway in 1965 (when Buffett began) would last year be worth $4.3 million, with a hedge fund charging 2 and 20.
Morning line-up: DE Shaw, euro, Galleon
News and views on the hedge fund sector from Reuters and elsewhere:
DE Shaw mobilises team to buy distressed assets of fund rivals – FT
Traders in record bet against the euro – FT
Galleon figure Chiesi stands by Rajaratnam – Reuters
EU hedge fund regulation plans still risky: UK FSA – Reuters
Britain need not fear a Greek tragedy, yet – Telegraph
Australian single hedge funds return 20.81 pct in 2009 – HedgeWeek
Berkowitz’s Fairholme likes more Berkshire Hathaway and healthcare – Seeking Alpha
Pequot Capital’s Last Holding: InterOil – Seeking Alpha
