India Funds Correspondent
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Jul 21, 2014

Foreign hedge funds could lose as Europe tightens rules

LONDON (Reuters) – Europe’s move to tighten regulation of the hedge fund industry could give home-grown funds an edge over foreign rivals, many of which are still trying to absorb the new rules on attracting investor cash.

The rules, known as the Alternative Investment Fund Managers Directive (AiFMD), were launched a year ago to create a single market for hedge funds and help protect investors by requiring funds to be more transparent and improve their risk management.

Jul 7, 2014

Struggling Gowex a short-selling target months ahead of bankruptcy

LONDON, July 7 (Reuters) – Hedge funds and other investors
began to bet big on a share price fall for Spain’s Gowex
some three months before the struggling wireless
network provider declared bankruptcy.

That came on Sunday, following a report last week by Gotham
City Research questioning the firm’s financial reporting, which
sparked a 60 percent slide in Gowex’s share price in two days
and the resignation of its chief executive.

Jul 6, 2014

Ex-Invesco star Woodford’s start-up bets on tobacco, drug firms

LONDON, July 7 (Reuters) – Star British fund manager Neil
Woodford, who left Invesco Perpetual in April to start his own
firm, is beginning his new role with a focus on tobacco and drug
stocks, believing they can withstand what he expects will be a
faltering global economy.

Woodford built a strong following after managing money for
more than 25 years at Invesco, including the $22 billion Invesco
Perpetual High Income, Britain’s largest equity fund.

Jul 4, 2014

Ex-Schroders trader to reappear at higher court in insider case

LONDON, July 4 (Reuters) – A former equities trader at
Schroders, one of Britain’s largest asset managers, was
told to reappear before a higher London court later this month
after his first hearing on Friday in an insider dealing case.

Britain’s Financial Conduct Authority (FCA) said last month
38-year-old former trader Damian Frank Clarke committed the
alleged offences, which relate to share trading and spread bets
between 2003 and 2012.

Jun 12, 2014

Azentus Capital bets Maruti to ride growth in India’s economy

HONG KONG (Reuters) – Maruti Suzuki India Ltd is best placed to benefit from an improvement in India’s economy as it attracts first-time car buyers, Morgan Sze, founder and chief investment officer of hedge fund Azentus Capital Management, said on Thursday.

Sze, a former Goldman Sachs top trader and now one of the best known Asian hedge fund managers, said the Indian economy is stabilising and last month’s election results have helped improve chances of an acceleration in growth.

Jun 12, 2014

Azentus Capital bets automaker Maruti to ride growth in India’s economy

HONG KONG, June 12 (Reuters) – Maruti Suzuki India Ltd
is best placed to benefit from an improvement in
India’s economy as it attracts first-time car buyers, Morgan
Sze, founder and chief investment officer of hedge fund Azentus
Capital Management, said on Thursday.

Sze, a former Goldman Sachs top trader and now one of the
best known Asian hedge fund managers, said the Indian economy is
stabilising and last month’s election results have helped
improve chances of an acceleration in growth.

Jun 9, 2014

Ex-Goldman, Noble execs target July launch for Asia hedge fund

HONG KONG, June 9 (Reuters) – Guard Capital Management, a
hedge fund start-up by two top traders formerly with Goldman
Sachs and Noble Group, is aiming to launch next month and has
hired at least four executives, one person with knowledge of the
matter said.

The hedge fund is being led by Leland Lim, who was the
co-head of macro trading for Asia Pacific ex-Japan at Goldman
Sachs Group Inc, and Allan Bedwick, the former head of
macro trading in Asia for Noble Group.

Jun 8, 2014

China reforms favour stock pickers over index trackers

HONG KONG, June 9 (Reuters) – Contrary to trends in the
West, actively managed stock funds in China are set to become
more popular with foreign investors, as moves to open up Chinese
markets should give stock pickers an edge over poor performing
index trackers.

Looking for a way into the world’s second biggest economy,
but intimidated by capital controls and strict investment
quotas, investors have been piling billions of dollars into
index trackers like synthetic exchange traded funds (ETF) that
use derivatives to bet on mainland shares.

Jun 3, 2014

Investors trim Macau bets as money curbs dim growth prospects

HONG KONG, June 4 (Reuters) – Global investors are paring
their bets on stocks geared to Macau, the world’s casino
capital, after a raft of regulatory curbs sparked concerns about
slowing revenue growth in the next few months.

Macau, a special administrative region like neighbouring
Hong Kong, is the only place in China where citizens can legally
gamble in casinos, and analysts say its growth prospects in the
longer term remain strong, due to its proximity to the mainland.
Eight new resorts are also set to open within three years.

May 22, 2014

Ex-SAC Capital exec’s hedge fund boosts Asian start-up pipeline

HONG KONG, May 22 (Reuters) – A former Hong Kong-based fund
manager at SAC Capital is preparing to launch his own hedge
fund, people with knowledge of the matter said, boosting a
strong pipeline of start-ups in Asia this year as the industry
show signs of recovery.

Ken Xu left Steven A. Cohen’s firm, once one of the world’s
biggest hedge funds, this month after more than three years,
records with Securities and Futures Commission show.

    • About Nishant

      "Reuters Asia hedge funds correspondent since December 2010. I joined Reuters in 2006 as India fund correspondent and later on moderated an online community of more than 200 Indian equity fund managers and sell side executives. I started my career as a reporter a decade ago at the Hindustan Times, one of India’s largest English newspapers. I worked at India’s top fund research firm Value Research for two years starting 2004 before moving to Reuters in 2006. In Hong Kong, my main focus is on hedge funds but I also write broadly on the mutual funds and wealth management industries. ..."
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