LONDON (Reuters) – Veteran credit trader Iftikhar Ali is launching his own hedge fund firm, a source close to the new company told Reuters, as traders look to cash in on turbulent bond markets.
Ali, former head of international proprietary credit trading at Bank of America (BAC.N: Quote, Profile, Research, Stock Buzz) and more recently hedge fund manager at Observatory Capital, plans to launch Rhodium Capital in the fourth quarter of the year, the source said.
MONTE CARLO, Monaco, June 20 (Reuters) – Former chess
grandmaster-turned hedge fund manager Patrick Wolff is betting
on a stock market crash in China, where he says corruption and
bad debts have spiralled to dangerous levels.
Speaking to Reuters on the sidelines of the GAIM conference
in Monaco this week, Wolff said investors were too focused on
trying to work out when easy money policies will taper off in
the United States and ignoring a looming correction in China.
MONTE CARLO, Monaco, June 19 (Reuters) – European and Asian
hedge fund firms are finding the potentially lucrative U.S.
market impossible to ignore, but as tough as ever to negotiate.
Delegates at the annual GAIM conference in Monaco this week
talked about the difficulties, particularly for small funds, in
attracting new money to an industry once at the top of
investors’ wish lists.
MONACO, June 18 (Reuters) – The euro zone’s debt crisis may
be far from over, while Japan’s money-printing gamble to revive
its economy could destabilise global markets if it doesn’t work,
some hedge fund managers say.
They are taking the view that the rally in financial markets
over much of the past year, fuelled by central bank money
printing, could mask a failure to tackle some European
countries’ and banks’ debt problems, and the sell-off of recent
weeks may be the start of a longer downward move.
MONTE CARLO, June 18 (Reuters) – Hedge funds, once seen as a
quick route to riches for managers and investors alike, are
trying to reinvent themselves as more socially conscious and
make money all the same.
After an extended run of poor returns, executives at a
slimmed-down annual industry conference in Monaco on Tuesday
were as likely to be found talking about charitable giving as
top trading ideas. Managers have latched onto the idea that
social responsibility and making money could go hand in hand.
LONDON (Reuters) – Some macro hedge funds are using the recent sell-off in the Mexican peso as an opportunity to buy into the currency.
Macro funds – which bet on stocks, bonds and currencies and which were made famous by the likes of George Soros – piled into the peso in recent months, hungry for profits after a tough two years in which they struggled to cope with markets dominated by political and central bank actions.
LONDON, June 12 (Reuters) – U.S. fraudster Bernard Madoff
used his London-based company to “warehouse” huge amounts of
money stolen from the Ponzi scheme and buy luxury items for
himself, a court heard on Wednesday.
The liquidators of UK-based Madoff Securities International
Limited (MSIL) began a civil case in London’s High Court on
Monday against defendants including Madoff’s brother Peter and
his son Andrew, as well as Stephen Raven, chief executive of the
UK unit, and Bank Medici founder Sonja Kohn.
LONDON (Reuters) – Man Group’s shares fell more than 11 percent on Wednesday after it said its flagship hedge fund AHL had suffered one of its biggest weekly losses, wiping out its profits so far this year.
The $14.1 billion computer-driven fund, which has been running since 1987 but whose performance has lagged in recent years, fell 8.9 percent over the week to June 3.
LONDON, June 5 (Reuters) – Man Group’s shares fell
more than 11 percent on Wednesday after it said its flagship
hedge fund AHL had suffered one of its biggest weekly losses,
wiping out its profits so far this year.
The $14.1 billion computer-driven fund, which has been
running since 1987 but whose performance has lagged in recent
years, fell 8.9 percent over the week to June 3.
LONDON (Reuters) – As comebacks go, it’s one of the more ambitious.
Fred Eckert – the hedge fund manager who lost $250 million of his own money, saw his firm go bankrupt in the credit crisis, went through a divorce and spent two months in a coma – is back with the launch of his new firm.
The 65-year-old former Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) executive, who once lived in one of the most expensive houses in New Jersey, has launched a new firm called Phoenix Star Capital.