Funds Hub
Money managers under the microscope
Morning Line-Up: Madoff’s hidden $9 bln, Austerity Budget, new commodity fund
News and views on the fund industry from Reuters and elsewhere:
Madoff’s hidden $9 billion - Telegraph
UK spending cuts, tax rises in store from Chancellor – Reuters
Former Citi-trader sets up $1 bln for commodity hedge fund- Reuters
Morning Line-Up
News and views on the hedge fund sector from Reuters and elsewhere:
Hedgie Sprott sees gold at $1,500 in 2010 - Bloomberg
Citi loses two prop traders to hedge funds – sources - Reuters
Woori, Temasek to launch fund of hedge funds - Reuters
Hedge funds, bankruptcy judges spar over disclosure – Reuters
Morning line-up
News and views on the hedge fund sector from Reuters and elsewhere:
Ex-Centaurus HK chief starts new fund - Bloomberg
Reprieve for Cohen? – Reuters
Hedgies’ impact on energy trading – Commodities Now
Investors pour in billions – Reuters
Citi taps the UCITS rush – FINAlternatives
Morning Line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Mandelson says EU rules may choke recovery – Bloomberg
Insider trading probe catches 14 more – Reuters
Citi to relaunch hedge fund unit – FT
Man Group on slow recovery path – Reuters
Aussie hedge fund plans move – The age
from DealZone:
R.I.P. Salomon Brothers
It's official: Salomon Brothers has been completely picked apart.
Citigroup's agreement to sell Phibro, its profitable but controversial commodity trading business, to Occidental Petroleum today puts the finishing touches on a slow erosion of a once-dominant bond trading and investment banking firm.
When Sandy Weill (pictured left) staged his 1998 coup -- combining Citicorp and Travelers, Salomon Brothers was a strong albeit humbled investment banking and trading force. Yet little by little, a succession of financial crises, Wall Street fashion and regulatory intervention has whittled away at the once-dominant firm.
The attraction of the toxic
Nothing like a bit of toxicity. Wealth managers at Citi are telling their clients to watch for a burst of hedge fund interest in bad assets. They reckon the biggest opportunity for hedge funds is probably around the Public-Private Investment Fund, which is part of the huge U.S. plan to stabilise the 
financial sector.
The idea is that the U.S. government will lend money to investors to buy up toxic assets from banks, thus setting a market price. But the notes are non-recourse ones, which means that any default is limited to the actual cost of whatever collateral is require. In short, it limits liability if asset prices fall.
from Global Investing:
For better or worse?
Wealth managers at Citi Private Bank are telling their clients to stay neutral in their exposure to hedge funds at the moment, whether the strategy be event driven, equity long/short or macro. The main 
reason is that capital markets are still stressed and many hedge funds still need to deleverage.
The firm points out, however, that hedge funds had a good news-bad news kind of year in 2008. Based on the HFRX Global Hedge Fund Index, it was the worst performance on record. The index lost 23.3 percent. Its next worst performance was 2002 -- and that was only a 1.5 percent decline.
