European Hedge Funds Correspondent
Laurence's Feed
Nov 27, 2012

CQS star Hintze eyes “totally mispriced” loans, debt

LONDON (Reuters) – CQS founder Michael Hintze, one of Europe’s most influential hedge fund managers, believes European loans and some corporate debt are “totally mispriced”, and says stocks look attractive.

Hintze, ranked sixth in this year’s Sunday Times Hedge Fund Rich List with a 580 million pound ($929 million) fortune, told the Reuters Global Investment 2013 Outlook Summit that next year offers plenty of opportunities for his CQS Directional Opportunities fund, which was up 29 percent in the first 10 months of 2012.

Nov 22, 2012

UK’s IMA starts talks on new investor body

LONDON, Nov 22 (Reuters) – The UK’s fund management trade
body has taken the first steps to set up a forum to improve
relations with UK companies, putting into practice a report this
summer aimed at preventing a Barclays-style board implosion.

The Investment Management Association (IMA), trade body for
the UK’s 4.2 trillion pounds ($6.7 trillion) asset management
sector, is assessing support among institutional investors for a
forum as proposed by July’s government-backed Kay Review.

Nov 20, 2012

Fiat, Petrobras among hedge funds’ top short picks

LONDON, Nov 20 (Reuters) – Singapore commodities trader Olam
is not the only stock on shortsellers’ radar –
higher-profile names such as Italian carmaker Fiat and
Brazilian oil group Petrobras are also being

Speaking at a conference, hedge fund managers including
Chris Cooper-Hohn – the founder of The Children’s Investment
Fund (TCI), U.S. shortseller Muddy Waters, and Kynikos founder
Jim Chanos named stocks they saw as overvalued.

Nov 19, 2012

News Corp, Porsche among top picks at hedge fund event

LONDON (Reuters) – Top hedge fund managers picked stocks as diverse as News Corp, holding company Porsche, and cosmetics maker L’Oreal on Monday at a hedge fund event seen by investors as revealing the industry’s top stock picks.

The Ira Sohn Conference, being held for the first time in London, attracted such speakers Chris Cooper-Hohn, the media-shy founder of The Children’s Investment Fund Management (TCI), Kynikos Associates founder Jim Chanos, Egerton Capital’s John Armitage, and Muddy Waters’ Carson Black.

Oct 31, 2012

Hedge funds swoop on Falklands oil search

LONDON (Reuters) – Hedge funds have been quietly building up stakes in the fledgling oil explorers operating off the Falklands, betting that companies will ignore the threats made by Argentina to disrupt the activity.

Lansdowne Partners, one of Europe’s most powerful hedge funds, Crispin Odey’s Odey Asset Management and Blackfish Capital, owned by the Rowland family, have all acquired stakes, regulatory filings show, as investors grow more excited over drilling prospects and a clear plan for the first oil field development.

Oct 25, 2012

Hedge fund firm Odey bets on Man Group recovery

LONDON, Oct 25 (Reuters) – Odey Asset Management has sharply
increased its stake in Man Group Plc, taking a bold bet
on a fightback by the struggling computer hedge fund firm.

Odey, founded by veteran fund manager Crispin Odey and which
is known for its lucrative bet in 2009 on a recovery in
Barclays shares, has increased its stake in Man to 5.15
percent, worth some 70 million pounds ($113 million).

Oct 18, 2012

Exclusive: BlueCrest overhauls $620 million “black box” hedge fund

LONDON (Reuters) – BlueCrest Capital, one of the world’s biggest hedge fund firms, has overhauled the way it trades in one of its computer funds, a source said, sending a powerful signal that some ‘black box’ programs controlling billions of assets may be broken.

BlueCrest, which manages $33 billion, has designed five new programs from scratch for its BlueMatrix fund, said the source familiar with the matter, after poor returns.

Oct 18, 2012

Man Group fightback fails to convince clients

LONDON (Reuters) – Man Group (EMG.L: Quote, Profile, Research, Stock Buzz) shed client funds for a fifth straight quarter, raising fresh doubts about when the embattled hedge fund manager’s campaign to restore investor confidence will bear fruit.

Man’s share price has buckled 70 percent since early 2011 as poor fund returns prompted fee-paying clients to take billions of pounds of cash elsewhere.

Oct 18, 2012

Man Group client withdrawals hinder fightback

LONDON, Oct 18 (Reuters) – Man Group said clients
pulled out money for the fifth consecutive quarter and warned
there were few signs of an improvement, as the embattled hedge
fund firm’s struggle to revive its fortunes is hit by poor
returns from its main fund.

Man, whose shares are down by nearly 70 percent since the
start of last year on the back of outflows and poor fund
returns, said clients withdrew a net $2.2 billion over the three
months to September, up from $1.4 billion the previous quarter.

Oct 17, 2012

Moore Capital manager Coffey to retire: sources

BOSTON/LONDON (Reuters) – Greg Coffey, who spent decades investing money at some of the world’s biggest and best-known hedge funds, is leaving Moore Capital and plans to retire from the industry, three sources told Reuters on Wednesday.

The 41-year old Australian, who oversaw several portfolios at the $15 billion firm from London, told investors by letter that the demands of his job were colliding with his desire to spend more time with his wife and children.