Funds Hub
Money managers under the microscope
Morning Line-up: Hedge funds flatline, investors vet banker pay
News and views on the asset management industry from Reuters and elsewhere:
Hedge funds failing to handle choppy markets – Reuters
Spain’s bank rescue hits headwinds – WSJ
Investors turn spotlight on bank staff paycheques – Reuters
Morning Line-Up: Winters’ come back, Pru’s pension, double-dippers
News and views on the asset management industry from Reuters and elsewhere
Ex-JP Morgan Winters starts new fund – FT
Pru in pension top up court case - Guardian
“Double-dippers” in the frame in N.Y. pension debate – Reuters
from Reuters Investigates:
For hedge fund titans, the long and the short of it
Our latest special report profiles one of the more colorful figures in the hedge fund world -- William Ackman. Wall Street Investigations editor Matthew Goldstein teamed up with funds correspondent Svea Herbst-Bayliss, who was in New York this week for the Value Investing Conference.
Here's what Matt has to say about Ackman and one of his rivals.
"Hedge fund managers William Ackman (left) and David Einhorn (right) are fairly good friends and sometimes they find themselves on the same side of a debate over a stock.
Cheyne hedge fund spots RBS opportunity
M&A is on the up again and hedge funds are getting ready – last week we revealed Cheyne Capital had raised over $100 mln for an event-driven fund.
The fund will concentrate on ‘hard’ news (as opposed to rumours of deals), but, as suggested in their name, such funds can look at a wider range of events than just M&A, including restructurings, debt refinancings, asset sales, share buybacks and so on.
Morning Line-up: City recruitment, UK banks’ funding crunch, Cem Habib
News and views on the fund industry from Reuters and elsewhere:
City recruitment to go on despite slow-down fears - FT
British Banks’ funding gap – Daily Telegraph
Cem Habib leaves Cheyne Capital – Reuters
Morning Line-Up: Insider trading fine, love on AIM, BA pension deal
News and views on the fund industry from Reuters and elsewhere:
Ex hedge fund manager fined £50 K for insider trading - Reuters
Easydate lists on AIM - Scotsman
BA’s pension deal with trustees – Financial Times
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: Pequot, celebrity Ponzi scheme, Buffett’s subpoena
News and views on the fund industry from Reuters and elsewhere:
Pequot settles out of court on insider trading allegations- Reuters
from DealZone:
In man vs machine, GLG has Manly appeal
Hedge fund firm Man Group apparently pricey deal to buy GLG Partners gives Man – the world’s biggest listed hedge fund -- better access to the large and lucrative U.S. market. It also counts as a small win for the human race in its apocryphal war for investors' funds with cheaper, faster and -- many would argue -- far more dangerous algorithmic trading machines known as black boxes.
The $1.6 billion cash-and-shares deal represents a heady 55 percent premium to GLG's closing price on Friday. Clearly some investors are worried it's a little too rich. It has so far driven the shares of Man – which had already lost about a fifth of their value since mid-April -- down by a little more than 8 percent.
