Funds Hub
Money managers under the microscope
Morning Line-Up: Bluecrest, Pershing, Gartmore
News and views on the asset management industry from Reuters and elsewhere:
California hedge fund manager settles SEC probe – Reuters
Hedge funds tapped rescue program – WSJ
Pershing Square funds up 3.5-4.9 pct in Q3 – WSJ
Gartmore tells 35 staff likely to lose jobs – source – Reuters
Senior staff exit hedge fund firm Bluecrest – source – Reuters
China’s first gold fund to boost demand for gold – Gold Prices
Turcan Connell launches absolute return fund – Hedgeweek
Einhorn: Moody’s broadside lacks usual punch
David Einhorn again sent markets scurrying last week when he told investors he was shorting Moody’s Corp, but the Greenlight Capital manager’s latest thumbs down packed a weaker punch than his past, celebrated broadsides.
To be fair, Einhorn had a tough act to follow. A year ago, he boldly said Lehman Brothers was in much worse shape than its management would admit. Four months later — the bank went bankrupt and the shares were wiped out. It took more than six years, but his warnings about business lender Allied Capital also proved accurate and ultimately very profitable.
