India Funds Correspondent
Nishant's Feed
Mar 26, 2015

Alliance invokes Elliott track record in appeal against board shake-up

LONDON, March 26 (Reuters) – Alliance Trust invoked
Elliott Advisors’ track record on Thursday, asking shareholders
to reject the activist investor’s call for a boardroom overhaul
and saying the fund was trying to engineer an exit from the
investment trust.

Alliance runs one of Britain’s oldest investment trusts and
is engaged in a tussle with its largest individual shareholder
Elliott, aiming to prevent the hedge fund from appointing three
directors to its board.

Mar 26, 2015

Fast-growing ‘smart’ funds in regulators sights

LONDON, March 26 (Reuters) – Funds that mimic strategies
used by active managers for a fraction of the cost could be
forced to carry a health warning by regulators who are concerned
they may pose greater risks than are being disclosed.

The so-called “smart-beta” funds use formulas to decide when
to buy and sell stocks and bonds on a semi-regular basis as
opposed to blindly tracking an underlying index or being more
actively run on a daily basis.

Mar 20, 2015

Alliance Trust rejects Elliott’s move to appoint directors

LONDON, March 20 (Reuters) – Alliance Trust, one of
Britain’s oldest investment companies, has rejected shareholder
proposals for a management overhaul, setting the stage for a
battle with one of the world’s highest profile activist
investors.

Elliott Advisors, the largest individual shareholder in the
Trust, is seeking support from fellow investors for the
appointment of three new independent non-executive directors to
the board, in moves the trust has branded “completely
unacceptable”.

Mar 19, 2015

Auto Trader shares leap in UK’s biggest private equity-backed listing

LONDON, March 19 (Reuters) – Shares in online car
marketplace Auto Trader Group rose more than 16
percent after their debut in London on Thursday in Britain’s
largest ever private equity-backed listing.

The flotation gave the company a market value of 2.35
billion pounds ($3.5 billion), making it also Britain’s biggest
listing of any kind since Royal Mail in late 2013.

Mar 18, 2015

UK wealth managers get boost from Budget savings plan

LONDON, March 18 (Reuters) – Shares in British wealth
managers got a Budget boost on Wednesday after the government
announced yet more changes to pensions and savings.

The changes cap a wide-reaching overhaul of the industry
ahead of a national election in May, aimed at encouraging people
to save more and freeing them to get the best possible deals.

Mar 17, 2015

Regulators face tough job to crack down on ‘index huggers’

LONDON (Reuters) – Watchdogs leading a crackdown on mis-sold products across the financial services industry could find a case against a breed of high-fee investment funds known as “index huggers” difficult to prove.

British banks have already had to set aside billions of pounds to compensate customers for mis-sold insurance and interest rate products. Now financial watchdogs in Europe are turning their attention to investment funds.

Mar 17, 2015

Analysis – Regulators face tough job to crack down on ‘index huggers’

LONDON (Reuters) – Watchdogs leading a crackdown on mis-sold products across the financial services industry could find a case against a breed of high-fee investment funds known as “index huggers” difficult to prove.

British banks have already had to set aside billions of pounds to compensate customers for mis-sold insurance and interest rate products. Now financial watchdogs in Europe are turning their attention to investment funds.

Mar 17, 2015

Ex-Brevan Howard star Rokos hires top Goldman exec for hedge fund start-up

LONDON, March 17 (Reuters) – Former Brevan Howard star
trader Chris Rokos has hired former Goldman Sachs co-head
of Asia Pacific macro trading, Stuart Riley, as he gears up for
one of Europe’s most high-profile 2015 hedge fund launches.

Rokos, who made $4 billion for Brevan’s main fund between
2004 and 2012 and was paid $900 million during his time there,
and Brevan Howard ended a legal dispute in January this year,
clearing the way for him to start his own fund.

Mar 16, 2015

Activist investor Elliott seeks to shake up Alliance Trust

LONDON (Reuters) – Activist investor Elliott Advisors, the largest individual shareholder in Alliance Trust (ATST.L: Quote, Profile, Research, Stock Buzz), is seeking support from fellow shareholders for a boardroom shake-up at one of Britain’s oldest listed investment companies.

Elliott, which owns 12 percent of the investment trust, said in a statement it has nominated three new independent non-executive directors ahead of the company’s annual general meeting on April 29.

Mar 12, 2015

Exclusive: BlueCrest to open $1 billion equity hedge fund to investors in April – sources

LONDON (Reuters) – BlueCrest, the $14 billion hedge fund firm led by billionaire Michael Platt, is to open its high-performing equity fund to outside investors, marking a new attempt by one of Europe’s biggest hedge funds to expand into the asset class

The BlueCrest Equity Strategies fund has operated with its own capital of $1 billion until now but plans to accept its first money from third parties from April, sources familiar with the matter told Reuters.

    • 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. ..."
    • Follow Nishant