LONDON (Reuters) – A mooted change of chief executive at Man Group (EMG.L: Quote, Profile, Research) will do nothing to revamp its flagship fund and reverse the client withdrawals expected to be in focus again this week.
Peter Clarke, who took over as CEO from industry ‘godfather’ Stanley Fink in 2007, has been under growing pressure after a near 60 percent fall in the share price since September on the back of client withdrawals and poor returns from its main ‘black box’ fund.
LONDON (Reuters) – Abydos Capital, a new hedge fund run by a former partner at one of London’s most high-profile oil investors, is worried about a potential military strike against Iran and plans to use options to protect his portfolio.
Jean-Louis Le Mee, Chief Investment Officer of Abydos, told Reuters he thinks there is a 25 to 50 percent chance of an Israeli strike against Iran’s nuclear capabilities, an act that would likely send stock markets tumbling and drive up oil prices, hitting hedge funds that hadn’t protected their portfolios.
LONDON (Reuters) – Ultra-secretive trader Alan Howard has topped the rankings of wealthiest hedge fund managers in this year’s Sunday Times Rich List, after his fund navigated the euro zone debt crisis last year to post bumper profits.
Howard, co-founder of Brevan Howard, one of Europe’s biggest hedge fund firms, grew his total wealth by 44 percent to 1.4 billion pounds ($2.26 billion), the survey by the British newspaper shows.
LONDON, April 26 (Reuters) – Hedge funds have spotted
money-making opportunities in Spain, betting that market fears
over the southern European country’s deepening debt crisis have
made some assets too cheap relative to other securities.
Managers have been exploiting what they see as the
mispricing of credit default swaps (CDS), government and
corporate bonds and stocks, after months of growing market
concern that Spain might need an international bailout, using
relative value trades – betting on one security versus another.
LONDON, April 24 (Reuters) – Investors desperate to get
exposure to Brevan Howard’s Master fund, one of the world’s
biggest and top-performing hedge funds, are piling into a fund
giving them only partial exposure to the secretive firm’s
The Brevan Howard Multi-Strategy Master Fund – which invests
in the group’s $27 billion flagship Master fund and other,
smaller strategies – has grown to more than $2.3 billion from
around $1.1 billion last September, data seen by Reuters shows.
LONDON (Reuters) – Hedge fund managers pocketed 28.1 percent of profits generated by their funds over the past 18 years, new research from London’s Imperial College found.
The research, commissioned by KPMG and hedge fund industry body the Alternative Investment Management Association, found investors’ share of annual profits delivered by hedge funds from 1994-2011 was 71.9 percent.
LONDON, April 24 (Reuters) – Hedge fund managers pocketed
28.1 percent of profits generated by their funds over the past
18 years, new research from London’s Imperial College found.
The research, commissioned by KPMG and hedge fund industry
body the Alternative Investment Management Association, found
investors’ share of annual profits delivered by hedge funds from
1994-2011 was 71.9 percent.
LONDON, April 23 (Reuters) – A fund that invests in an index
of EU-regulated hedge funds is waiving its annual charge to
clients, a rare move in an industry known for high fees, in a
bid to win back hedge fund investors driven away by the
The Axiom UCITS Alternative Investable Index Fund, launched
in December 2010, has dropped its 1 percent management fee and
replaced it with a 10 percent performance fee, it said on
LONDON, April 19 (Reuters) – British hedge fund manager Man
Group is developing a computer-driven government bond
fund, aiming to attract investors put off by the ultra-low
yields in many developed fixed income markets and worried about
further debt defaults.
The Man Systematic Fixed Income fund, yet to be launched,
will try to identify and profit from dislocations in liquid
government bond markets.
LONDON (Reuters) – Large institutional investors who have ploughed tens of billions of dollars into hedge funds may rethink their allocations if the industry performs poorly yet again this year, one large U.S.-based investor said.
Christopher Vogt, global head of hedge funds at Allstate Investments, which has $95.6 billion (59.8 billion pounds) assets including around $1.5 billion in hedge funds, said the industry needed to deliver good returns in 2012 after several difficult years.