European Hedge Funds Correspondent
Laurence's Feed
Mar 21, 2013

Cyprus worries may boost hedge fund exit requests -SS&C GlobeOp

LONDON, March 21 (Reuters) – Client demands to pull money
out of hedge funds may rise further from a three-month high in
March as investors grow nervous over Cyprus’s debt crisis, said
hedge fund administrator SS&C GlobeOp.

SS&C GlobeOp’s Forward Redemption Indicator (FRI), a monthly
snapshot of clients giving notice to withdraw their cash as a
percentage of assets under administration, measured 4.33 percent
in March.

Mar 20, 2013

Hedge funds raise bets against Hungary bonds

LONDON, March 20 (Reuters) – Some hedge funds have begun
quietly increasing their bets against Hungarian sovereign bonds
in the belief that the yields don’t properly reflect the
country’s political and economic outlook.

The amount of Hungarian sovereign bonds out on loan – an
indicator of short-selling by funds anticipating a drop in price
- has risen sharply in recent weeks, data shows, while short
interest in some other leading east European economies has
fallen.

Mar 19, 2013

Faith in policymakers may be “serious error”: Brevan Howard

LONDON (Reuters) – Investors betting that actions by policymakers will prop up financial markets indefinitely could be making a “serious error”, says Brevan Howard, one of the world’s biggest and most respected hedge fund firms.

The comments by Brevan, which manages $40 billion and whose Master fund has never had a losing year, comes as European politicians wait to see whether debt-laden Cyprus will accept an international rescue and avoid a default that would shake the euro zone.

Mar 18, 2013

Hedge fund firm Man Group caps executive bonuses

LONDON, March 18 (Reuters) – Man Group is to cap
future cash bonuses for its senior executives, the hedge fund
manager said in its 2012 annual report published on Monday.

Man said that short-term annual cash bonuses, which were
previously uncapped, would be limited to 250 percent of salary
for executive directors after discussions with shareholders.

Mar 11, 2013

Hedge funds eye profits as Chinese regulator flexes M&A muscle

LONDON, March 11 (Reuters) – China’s antitrust regulator
could become the new best friend of hedge funds seeking to
profit from the unpredictability of the youngest of the world’s
main watchdogs.

The country’s Ministry of Commerce (MOFCOM) is becoming a
key player in global mergers and acquisitions (M&A) as
increasing activity brings more deals within its remit, such as
Glencore’s takeover of miner Xstrata and
advertising group Dentsu’s purchase of Aegis.

Mar 5, 2013

Hedge funds bristle as EU lawmakers eye new pay target

LONDON, March 5 (Reuters) – Hedge fund managers could be
next in line after bankers to see further restrictions on their
pay if European lawmakers follow through on promises to target
the sector’s lucrative payouts.

After reaching a deal in the early hours of Feb. 28 to cap
bank bonuses at the same size as base salaries, or twice basic
if backed by shareholders, some politicians are now talking
about a “snowball” effect embracing other areas of finance.

Mar 4, 2013

CEO of hedge fund firm Lansdowne to retire in June

LONDON (Reuters) – Lansdowne Partners, one of the world’s best-known hedge fund managers, said that Paul Ruddock is to retire as chief executive to focus on his work in the arts and charity sectors.

Ruddock, who ranks among Britain’s richest financiers, co-founded Lansdowne in 1998 with Steven Heinz and has been a major donor to the arts and to Britain’s ruling Conservative party.

Feb 28, 2013

GLG’s Esprey among those arrested by FSA -source

LONDON, Feb 28 (Reuters) – Carl Esprey of hedge fund firm
GLG was one of three men arrested in London on Wednesday as part
of an investigation into insider dealing, a source familiar with
the matter said on Thursday.

Man Group said an employee in its GLG Partners LP
division had been arrested by Britain’s financial markets
watchdog and police on Wednesday, but gave no name and declined
to comment on whether Esprey was involved.

Feb 28, 2013

Fund firm Man Group hit by employee arrest

LONDON (Reuters) – The arrest of an employee in an investigation into insider dealing and yet more cash withdrawals by clients overshadowed hedge fund firm Man Group’s first results under new chief executive Manny Roman on Thursday.

Reporting an 8 percent drop in assets under management since September to $55 billion, Man said an unidentified employee in its GLG division was arrested by Britain’s financial markets watchdog and police on Wednesday.

Feb 28, 2013

Fund firm Man Group hit by employee arrest, outflows

LONDON, Feb 28 (Reuters) – The arrest of an employee in an
investigation into insider dealing and yet more cash withdrawals
by clients overshadowed hedge fund firm Man Group’s
first results under new chief executive Manny Roman on Thursday.

Reporting an 8 percent drop in assets under management since
September to $55 billion, Man said an unidentified employee in
its GLG division was arrested by Britain’s financial markets
watchdog and police on Wednesday.