Funds Hub
Money managers under the microscope
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
Morning Line-Up: Japanese hedge, Madoff, Calpers helps probe
News and views on the asset management industry from Reuters and elsewhere:
Japan leads hedge funds return league – Reuters
Madoff says hedge funds, banks knew of his Ponzi scheme – NYT
Morning Line-Up: trading probe, euro, Diamondback
News and views on the asset management industry from Reuters and elsewhere:
Ex-SAC Capital employees charged in trading probe – Reuters
Euro’s volatility catches bearish hedge funds 0ff guard – WSJ
Diamondback investors ask for $534 mln back – Reuters
Charter Hall plays down rift with hedge fund – Sydney Morning Herald
UK universities eye and keep an eye on new hedge fund punts
Pension schemes are moving away from the usual equity/bond/real estate mix to put their eggs in as many baskets as possible. No wonder then that the USS — the 31.6 billion pounds UK universities pension fund — is putting an extra 1.5 percent of its assets, or about 474 million pounds, into hedge funds, as its CIO Roger Gray tells Reuters.
If you are rushing to the phone to pitch business with Mr Gray, however, STOP a minute fund manager: be prepared, the USS is not only eyeing alpha, it is going to ask a few questions about how alpha is distributed and how investors are protected.
Morning line-up: Paulson, KKR and Horlick
News and views on the fund industry from Reuters and elsewhere:
KKR buys Avantha stake ahead of IPO – Economic Times
Paulson’s flagship fund wipes off year’s losses in September – Reuters
Nicola Horlick launches film script company – Independent
NAPF urges UK companies to ‘mention the pension’ – 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: Merkel on Greece, U.S. financial reform, hung parliament
News and views on the fund sector from Reuters and elsewhere:
Merkel tells Greece it must cut costs more to get German help – Reuters
Staying positive
There seems to be an endless wave of bad news hitting the hedge fund industry at the moment — gates and suspensions, record poor performance, the Bernard Madoff scandal and so forth – but there are still one or two reasons to be positive.
According to a survey of institutional investors by alternative assets data group Preqin, conducted in January (and therefore after the alleged Madoff fraud came to light), only 8 percent said they were no longer confident about hedge funds and would reduce investments.
