Funds Hub
Money managers under the microscope
Morning line-up: Frontiers, Citadels and NYC
News and views on the fund industry from Reuters and elsewhere:
Ex-Citadel manager plans new fund – Bloomberg
Sell in May… and put it all in hedge funds? – FT
Frontier market investors burn a lot of kerosene – Reuters
End of UK child trust funds is err… evil – WalesOnline
NYC goes venture capital – WSJ
London’s future looks cloudy
Data from HFI out today may provide further ammunition for those who fear London’s position as Europe’s hedge hub is under threat.
London’s share of global hedge fund firms running more than $1 billion in assets slipped in the first half of 2009 to less than 15 percent from more than 17 percent.
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
London loses HF market share to NY – Hedge Fund Journal
Funds FAIL! - FT Alphaville
‘No truth’ to CIT-IndyMac talk - Reuters
Uptick in new hedge funds - NY Times DealBook
GAIM 2009: GLG makes a late entry
A last-minute addition to the line-up in Monaco has been GLG’s senior managing director Pierre Lagrange, a relatively low profile figure even though the firm is listed on the New York stock exchange.
Lagrange was not on the conference’s original programme and only agreed last week to speak on “the pros and cons of running an alternative asset management business as a public company” today.
GLG has had its share of troubles in the past, including the Philippe Jabre scandal, last year’s departure of star manager Greg Coffey and a hefty chunk of investor redemptions. Perhaps Lagrange is taking on a more public role as the firm now feels it has a more upbeat story to tell. Having pulled off a number of hirings and the acqusition of the UK fund management unit of Societe Generale, the firm said this month that its hedge funds had risen 11.2 percent in the five months to May 31. Meanwhile, expansion into the U.S., Asia and the Middle East is also planned.
