Funds Hub
Money managers under the microscope
Morning Line-Up: Muni-bonds, Justice, Berkshire Hathaway’s latest
News and views on the asset management industry from Reuters and elsewhere:
SEC eyes US municipal bond disclosure – FT
Berggruen’s Justice raises more than planned in fund listing – Reuters
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
Morning Line-Up: Wall St info, Jimmy Choo’s IPO chance, hedge funds’ returns
News and views on the asset management industry from Reuters and elsewhere:
US regulator to pay for Wall St. information - FT
IPO part of Jimmy Choo’s strategic review – Independent
Morning Line-Up: Lehman rises from ashes, helpful hedgies sought
News and views on the fund industry from Reuters and elsewhere:
Lehman given go-ahead for new asset management company - Reuters
PIMCO calls for money market fund reform - Reuters
Altin ups macro allocation to 20 pct – HedgeWeek
GAM adds EM currency fund to UCITS range - Fund Strategy
SEC seeks hedge fund monitors - The Seattle Times
from DealZone:
Spitzer: S.E.C. still asleep at the switch
Former New York Governor Eliot Spitzer at a September 2009 conference
Seems like old times.
Eliot Spitzer, who rose to national prominence in 2002 when he forced a sleepy S.E.C. to crack down on conflicted analyst research, is none too pleased to hear that his old rivals recently joined 12 Wall Street banks in seeking to knock big holes in that wall.
Asked for his thoughts on this Wall Street Journal article that broke the news, this is what he had to tell Reuters in an exclusive interview:
"For the S.E.C. to join with the banks to diminish consumer protections with respect to the quality of advice and research is absolutely and fundamentally violative of their duty to the public. This one more example of the S.E.C. being in in the tank."
It's almost as if we turned the clocks back seven years. Spitzer gained his crusading "Elliot Ness" reputation in 2002 when he took the unprecedented step of probing banks and threatening to prosecute Wall Street executives, stepping around a passive S.E.C.
It may be nice to know why the SEC is reluctant to go after the bank?
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
SEC war on hedge’s derivatives – NY Post
Hedge funds could nab $11 bln from Lehman – Alphaville
Galleon brought down by beauty queen – Huffington Post
Hedgies pump up stock exposure – Reuters
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
UK must fix hedge fund oversight, official says – Wall Street Journal
Former SEC laywer admits role in $44m hedge fund scam – the Star-Ledger
Crisis leads to hedge fund changes – Hedge Funds Review
Morning Line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Hedge funds face investor war on fees – Reuters
Och-Ziff third quarter income falls – Reuters
Mark Kary to resign from Polar Capital - FT Adviser
Hedge fund adviser to lead SEC policing body – WSJ
Asian hedge fund asset on the rise – Bloomberg
Do you hold any stock from the Galleon portfolio?
Raj Rajaratnam, billionaire founder of the Galleon Group hedge fund, was arrested Friday on charges of leading an insider trading scheme that generated more than $20 million in profit over the past few years.
Below are the top stocks of Galleon Management LP’s $1.95 billion of stock holdings as of June 30, based on Securities and Exchange Commission filings. NAME STOCK SYMBOL MARKET VALUE SHARES HELD EBay Inc <EBAY.O> $116.1 mln 4.74 mln Apple Inc <APPL.O> $78.3 mln 416,491 Google Inc <GOOG.O> $77.4 mln 140,800 OSI Pharmaceuticals <OSIP.O> $52.6 mln 1.65 mln Bank of America Corp <BAC.N> $42.9 mln 2.48 mln JPMorgan Chase & Co <JPM.N> $41.9 mln 909,845 Cisco Systems Inc <CSCO.O> $38.6 mln 1.61 mln SPDR Trust <SPY.P> $34.4 mln 316,000 Dell Inc <DELL.O> $31.8 mln 2.08 mln EMC Corp <EMC.N> $29.6 mln 1.65 mln
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
UK church is unlikely defender of hedge funds – WSJ
Once-robust Polygon is forced to adjust – WSJ
Second buyer asks for chance to bid on Sun-Times Media Group – Chicago Tribune
Recovery landscape brightens for F&C partner – Reuters
Hedge fund bets on hyperinflation – The Atlantic
