LONDON, Feb 13 (Reuters) – Winton Capital, one of the
world’s most successful hedge fund firms, has seen clients pull
$1 billion of cash out of its portfolios amid falling returns
from computer-driven fund managers.
The firm set up by Cambridge physicist David Harding, one of
Britain’s richest financiers, said that assets had dropped to
about $26 billion at the end of 2012, from $29 billion in May.
LONDON (Reuters) – Hedge funds are actively trading in Argentina’s choppy markets ahead of its legal showdown with rebel sovereign bondholders later this month.
Investors and creditors are waiting to see if a U.S. court upholds a ruling made on February 27 that prevents Argentina from paying holders of bonds issued in debt swaps in 2005 and 2010 until it pays interest and principal due to so-called “holdout” creditors who had refused to swap.
LONDON (Reuters) – Big-name London hedge funds Odey Asset Management and Egerton Capital are among those upping their bets against Monte dei Paschi di Siena (BMPS.MI: Quote, Profile, Research, Stock Buzz) in recent days, after revelations the troubled Italian bank faces heavy losses.
Italy’s third-biggest bank is under investigation for an opaque series of derivatives and structured finance contracts between 2007 and 2009 that could cost it 720 million euros. The scandal surrounding the world’s oldest bank, which is already in need of a 3.9 billion euro ($5.34 billion) state bailout, has become a campaign issue three weeks before Italy holds national elections.
LONDON (Reuters) – Broker Tullett Prebon (TLPR.L: Quote, Profile, Research) is to let some senior staff delay bonus payments until April, meaning they can benefit from a tax cut for Britain’s best paid.
Although in no way unlawful, that could be controversial at a time British politicians and voters are focused on the tax affairs of wealthy individuals and big businesses.
LONDON, Jan 28 (Reuters) – British broker Tullett Prebon
has offered some senior executives the opportunity to
delay receiving bonuses until April to take advantage of a cut
in income tax for top earners, a source inside the company told
Such an offer would not be unlawful, but could be
controversial at a time British politicians and voters are
focused on the tax affairs of wealthy individuals and big
LONDON, Jan 25 (Reuters) – Hedge fund short-sellers have
hoovered up nearly all available shares in Peugeot in
their scramble to bet the French carmaker will be an early
victim in an industry struggling to overcome a collapse in
Peugeot is now one of the most in-demand stocks in Europe
for short-selling by hedge funds, with 92 percent of shares
available to borrow – the “lending pool” supplied by
institutional investors – now out on loan, according to data
LONDON, Jan 17 (Reuters) – Chris Rokos, co-founder of hedge
fund firm Brevan Howard, is focusing on managing his own
fortune, two sources told Reuters, the latest star trader to set
up a so-called “family office” rather than work for others amid
The former Goldman Sachs trader, who left Brevan last summer
after the amount of money he managed was cut, has set up the
office in the heart of London’s upmarket Mayfair district, close
to Berkeley Square, one of the sources said.
LONDON (Reuters) – Betting against the European Central Bank, and the eurozone’s survival in general, proved a costly strategy for hedge funds in 2012.
Hedge funds who bet Europe’s debt crisis would worsen were last year’s big losers, lagging those who risked an upbeat stance, according to investors in the industry and data on funds’ performance.
LONDON (Reuters) – Hedge fund manager Patrick Armstrong is backing his confidence in the technology and luxury goods sectors by buying shares in Apple and holding his positions in the likes of LVMH and BMW.
Armstrong, who co-manages $220 million as head of investment selection at Armstrong Investment Managers, believes that such companies will help to drive the S&P 500 and other stock markets to new highs in 2013, aided by central banks’ pro-growth policies and fast-growing emerging markets.
LONDON (Reuters) – Client demands to pull money out of hedge funds rose to their highest level in more than three years in December, at the end of a year that has left many investors disappointed with performance.
Hedge fund administrator SS&C GlobeOp’s forward redemption indicator, a monthly snapshot of clients giving notice to withdraw their cash as a percentage of assets under administration, measured 6.19 percent in December.