Funds Hub
Money managers under the microscope
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Hedge funds flee to Switzerland – Guardian
Bullish times return – Forbes
Investors do greater due diligence - Dow Jones
Harbinger sells more Calpine stock – Reuters
GAIM 2009: Paranoid? You should be…
It doesn’t take a genius to work out that the hedge fund industry has changed markedly over the past year — a quick glance at delegate numbers here in Monaco shows that.
But one means that shows quite how drastic the change has been is in the area of risk management — not normally the sexiest topic but now an area of real concern for investors.
Relocation, relocation
It would appear that where to live is the hot topic for hedge fund managers at the moment.
Star manager Crispin Odey of Odey Asset Management is “seriously considering leaving” the UK over higher taxes, the Sunday Times reported, while Krom River moved to Zug from London for lower tax and a better lifestyle, the Financial Times reported last year.
The kiwi has landed
City workers may dream of relocating out of London to somewhere a bit more laid back, particularly at rush hour, but one hedge fund manager is going the other way and is swapping the peace, quiet and good weather of New Zealand for the Big Smoke.
Jerry Haworth, founder of Auckland-based hedge fund firm 36 South, is moving to London’s West End in a bid to be closer to clients and to attract more assets.
Madoff blow for funds of hedge funds
Today’s update by S&P Fund Services on its ratings for seven funds with exposure to Bernard Madoff’s fraud shows just what a blow to the fund of hedge funds industry the scandal has been.
S&P said that five funds of hedge funds that invested in Madoff and whose ratings it placed under review in December when the scandal broke have now been downgraded to “not rated” — Bonhote Alternative Multi-Arbitrage, DGC Pendulum, Dinvest Concentrated Opportunities, Dinvest Total Return and RMF Four Seasons.
Hope springs eternal – time to plant a hedge?
By Alexander Smith
If redemptions are getting the better of you and you thought your industry was about to disappear, you may be amazed to hear there are still those wanting to start their own hedge funds.
An email from Financial Technologies Forum LLC brings news of a new course in New York next month giving you everything you need to get going.
Made to sweat on Madoff
Appearing before a Treasury Select Committee can’t be enjoyable at the best of times.
But when your clients may have lost around 2.3 billion euros in Bernard Madoff’s alleged fraud, it must be positively painful.
