LONDON, Feb 20 (Reuters) – Revived markets and increasing
cash inflows from some investors have made British upmarket
investment manager Rathbone Brothers more optimistic on
the outlook as it posted full-year profit slightly ahead of
“We’ve used the phrase ‘cautious optimism’ for a number of
years. We decided this year to drop the word ‘cautious’. There
is an undercurrent that is seemingly more positive,” Finance
director Paul Stockton told Reuters.
LONDON, Feb 18 (Reuters) – Man Group has appointed a
new head of its struggling flagship hedge fund, as part of
sweeping changes under incoming CEO Emmanuel Roman to revive
investment performance and win back clients to the embattled
hedge fund firm.
The reshuffle is the most significant change yet announced
by chief operating officer Roman, who will take over from
current CEO Peter Clarke at the end of the month.
ZURICH/LONDON, Feb 15 (Reuters) – JP Morgan’s trader
Deepak Gulati is to give the Swiss hedge fund industry a boost
with the second-quarter debut of a major fund, a source close to
the matter said, in a tough environment for start-up managers.
His new firm Argentiere Capital was entered in Switzerland’s
commercial register last July and has already raised a
substantial sum of money for the fund, the source said, although
he declined to confirm the sum or a fundraising target.
LONDON (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, 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