Money managers under the microscope
News and views on the fund industry from Reuters and elsewhere:
NY pension fund weighs in against BP – Reuters
Macro bets double – Bloomberg
Diplomat vs diplomat over hedgie rules – Reuters
Kipper Williams on the levy – Guardian
Binder on global macro opportunities – OpalesqueTV
After a year in which buying the assets that had been sold down most in 2008 often proved the best strategy, 2010 looks an altogether different proposition.
The huge gains seen this year — stock markets rebounded more than 50 pct from their March lows, while some credits performed even better — are unlikely to be repeated, managers feel, and so discerning between different winners and losers from the credit crisis will the name of the game.
Why This Hedge Fund Analyst Owns Fannie and Freddie - SeekingAlpha
Friedberg reopens Global Macro Hedge Fund - Hedge Funds Review
Hedge Fund billionaire bankrolls Conservatives – The Times
Top trader launches hedge fund – The Telegraph
The shrinkage of the UK-listed banking sector is providing an interesting trade for Legal & General Investment Management’s $46 million Global Macro fund.
After some dramatic share price falls, banks now account for only around 10 percent of the FTSE 100. According to LGIM’s head of asset allocation David North, this means any potential damage of further bank problems to the index is likely to be a lot less from here onwards.