NEW YORK, April 25 (Reuters) – Three men who pleaded guilty
last year in an elaborate 17-year-long insider trading scheme
agreed on Wednesday to pay a combined $33 million to settle
civil charges filed by U.S. securities regulators.
Former corporate lawyer Matthew Kluger, stock trader Garrett
Bauer and former mortgage broker Kenneth Robinson were charged a
year ago by New Jersey federal prosecutors with trading on
inside information ahead of at least 11 corporate deals.
NEW YORK, April 19 (Reuters) – Investors poured billions of
dollars into hedge funds in the first quarter, helping to send
total industry assets into record territory, data released
Investors allocated a net $16 billion to hedge funds in the
first three months of the year, according to Hedge Fund
Research, which tracks industry flows and performance.
April 12 (Reuters) – Some hedge funds are seeing a silver
lining in the Dodd-Frank law as it lifts the industry’s veil of
After years of resisting closer governmental oversight, the
$2 trillion industry grudgingly came to accept the new law which
requires all but the very smallest funds to register with the
Securities and Exchange Commission and reveal data that was once
released only to the funds’ wealthy clients.
BOSTON/NEW YORK, April 4 (Reuters) – A handful of prominent
hedge fund managers reported strong first quarter results after
the industry recorded dismal returns in 2011, but only a few
managed to top the performance of the rallying U.S. stock
Daniel Loeb’s Third Point Partners fund gained 7.1 percent
during the first three months of the year while his Third Point
Ultra fund jumped 10 percent, a person familiar with the numbers
NEW YORK (Reuters) – Hedge fund manager Daniel Loeb has intensified his firm Third Point’s proxy battle with Yahoo Inc, launching a website calling for a management shakeup at the online media company.
ValueYahoo.com, which went live on Monday, also boasts a blog, links to articles covering the proxy fight and biographies of four proposed board nominees, including Loeb himself. Loeb is using the website to line up support for Third Points’ positions ahead of Yahoo’s annual meeting expected to take place in June.
NEW YORK, March 30 (Reuters) – Three prominent hedge fund
managers each made more than $2 billion in 2011, a year when
most traders failed to earn money for their wealthy customers,
according to an annual survey by AR magazine.
Collectively, however, this exclusive group of the 25
richest hedge fund managers took a 35 percent pay cut last year,
when the average hedge fund lost 5 percent.
BOSTON/NEW YORK (Reuters) – Hedge fund managers are increasingly nervous about getting a knock on the door from securities regulators now that a new rule requires them to register as investment advisers and provide lots of data about their inner workings as a result.
Hundreds of large managers, which already employ sizable legal teams, took the mechanics of meeting the March 30 deadline in stride, industry consultants say.
NEW YORK, March 19 (Reuters) – A good deal of the recent
flight from U.S. Treasuries has been driven by hedge fund
selling, according to a Wall Street analyst.
Hedge funds and other large investors sold 78 percent of
their holdings of 2-year Treasury note futures in the week ended
March 13, said Bank of America/Merrill hedge fund analyst Mary
Ann Bartels in a report released Monday.
By Katya Wachtel
Goldman Sachs’s own hedge fund product — like the now defunct Global Alpha — is generally reserved for the checkbooks of the investment bank’s wealth management clients. But not always.
For investors looking to get a piece of a Goldman hedge fund for a discount (and without having to actually be a Goldman private wealth customer) the investment bank is offering one of its commodity-focused hedge funds on a third party platform: CAIS.
NEW YORK (Reuters) – Goldman Sachs Group Chief Executive Lloyd Blankfein issued an internal response to the biting opinion column in Wednesday’s New York Times that was penned by a former employee who said the company’s culture has become “toxic and destructive.”
In a statement to employees, a copy of which was obtained by Reuters, Blankfein and Chief Operating Officer Gary Cohn hit back at accusations made by Greg Smith, a former vice president, that the investment bank has become more focused on profits than meeting the needs of its clients.