Funds Hub
Money managers under the microscope
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
EU steered to strict hedge fund rules – Reuters
High fees, or no fees? – WSJ
Hedge fund bear throws in towel – FT
Hedge funds, brokers turn to poker – Sox First
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Will hedgies switch to Bahrain? – Seeking Alpha
Event driven revival – FT
EU assault on hedge fund pay – Reuters
Blochet quits Brevan – Telegraph
Madoff yard sale: Baseball Jackets, coolers and fishing tackle – Reuters
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
Fight Fight Fight!
For those tiring of the squabbling over the European Union’s AIFM directive, at least the rhetoric continues to impress.
The EU threat has certainly made pension funds more bullish, and this week they were threatening to gang up on “arrogant” hedgies to force through far stricter terms on performance fees. “Institutional investors are totally disillusioned with funds not delivering what was on the tin,” Philip Read, chairman of the British Coal scheme, told chastened managers at the Hedge 2009 conference.
And what’s this? Even the Welsh have waded in with an attack on what they see as needless bureaucracy from the directive.
But my favourite comments come from Anthony Hilton’s column in yesterday’s Evening Standard. He asks a “French mole” to explain the EU’s onslaught on the hedge fund industry when there is broad agreement that the hedgies were not to blame for the financial crisis. The mole does not disappoint.
“It’s like when there is someone in a pub that you have never liked. When a fight breaks out, you hit him anyway, not because he caused the fight, but because you have always wanted to.”
Morning Line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Swedes plan to scrap hedge fund leverage limits – WSJ
More than one witness in Galleon case - Reuters
Ex-UBS bankers plan Tufton tranport fund - Bloomberg
Touradji dismisses employee claims as lies – Reuters
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
EU directive could be softened, says Lib Dem chair - Guardian
US targets offshore approved loans – Reuters
Fears grow for hedge fund on US financials losses - FT
Slumping energy demand over, says fund manager Melis – Bloomberg
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
EU hedge fund law to raise compliance costs - Reuters
Hedge fund August inflows hit $19.6 billion - WSJ
Economies face hedge fund attacks - Telegraph
Babcock & Brown Infrastructure receives offer – Bloomberg
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
EU rules to send Hedge Funds overseas – FT
Friedberg reopens Global Macro Hedge Fund - Hedge Funds Review
Hedge funds face detailed reporting standards – Reuters
Hedge Fund billionaire bankrolls Conservatives – The Times
Top trader launches hedge fund – The Telegraph
Dale Gabbert: Swedish massage hits the spot
Guest blogger Dale Gabbert heads the funds group in the London office of law firm Reed Smith. His practice covers hedge funds, private equity and property funds and he is the author of Hedge Funds, a legal guide published by Butterworths Lexis Nexis.
The views expressed here are entirely the author’s own and do not constitute Reuters’ point of view.
After the controversy surrounding the draft directive some perspective has returned as the Swedes take control of the EU Presidency and attempt to untangle the issues and build some consensus.
The Swedish intervention is timely and comes as the row gathers pace, with the UK government having finally entered the fray and accused the directive’s proponents of having “pandered to prejudices” and “tilted at mythical windmills”.
Considering the level of invective flying around, the Swedish paper is measured and concise. It identifies eleven main areas of focus and elaborates on the problems and some possible solutions (many of which are framed as alternatives).
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Insurers quit hedge funds – Insurance Times
Investors fear hedge fund rules limit choice – Reuters
Hedge fund ATM moves to Washington – Bloomberg
Will the high water mark catch on – Seeking Alpha
Back to life (settlements) – HFMWeek
