LONDON, Jan 27 (Reuters) – Former Dalton Investments
portfolio manager Tony Hsu is preparing to launch his own hedge
fund in March to bet on shares of entrepreneur-led Asian firms
and against state-run companies, according to a source and the
fund’s marketing material.
Hsu, who led a team that invested $2.5 billion for Dalton
before leaving the firm last year to set-up OTS Capital in Hong
Kong, will start trading with about $100 million, the source
with direct knowledge of the matter said.
LONDON, Jan 23 (Reuters) – The former boss of failed hedge
fund Weavering, the collapse of which cost investors $536
million, was sent to jail for 13 years on Friday, one of the
longest for fraud in Britain.
Magnus Peterson, 51, was found guilty by a London court this
week on eight counts of fraud, forgery, false accounting and
fraudulent trading but was acquitted on seven other charges
after a 12-week trial that delved into the complex world of
hedge fund investing.
LONDON, Jan 23 (Reuters) – Man Group’s hedge funds
which use computer programs to drive their investment decisions
have made gains of up to 5.7 percent in the first two weeks of
January, profiting in part from the surprise jump in the value
of the Swiss franc.
Man Group is the world’s biggest listed hedge fund firm with
$72.3 billion in assets at the end of September last year.
LONDON (Reuters) – Guard Capital, a macro hedge fund firm launched by two former top traders at Goldman Sachs and Noble Group, has gained 2.5 percent so far in January, sources said, steering clear of the pain some of its peers suffered after the Swiss franc soared.
Hong-Kong based Guard Capital was launched in August by Leland Lim, the former co-head of macro trading for Asia Pacific ex-Japan at Goldman Sachs, and Allan Bedwick, who was the head of macro trading in Asia for Noble Group.
LONDON, Jan 22 (Reuters) – Former global head of foreign
exchange at Citigroup, Anil Prasad, is preparing to launch his
own macro hedge fund in early April with initial start-up
capital of at least $500 million, three sources familiar with
the matter said.
Prasad could not be reached for comment.
Silver Ridge Asset Management, which will have offices in
London and New York, will have a multi-manager approach to
trading led by Prasad, who left Citi in early 2014. Farhang
Mehregani, also a former Citi executive, is joining Prasad in
launching Silver Ridge Asset Management.
LONDON, Jan 22 (Reuters) – Guard Capital, a macro hedge fund
firm launched by two former top traders at Goldman Sachs and
Noble Group, has gained 2.5 percent so far in January, sources
said, steering clear of the pain some of its peers suffered
after the Swiss franc soared.
Hong-Kong based Guard Capital was launched in August by
Leland Lim, the former co-head of macro trading for Asia Pacific
ex-Japan at Goldman Sachs, and Allan Bedwick, who was the
head of macro trading in Asia for Noble Group.
LONDON, Jan 22 (Reuters) – British wealth manager St.
James’s Place ended 2014 with record funds under
management, boosted by increased inflows and thousands of new
Funds under management rose 17 percent to 52 billion pounds
($78.7 billion), above a consensus analyst forecast of 51
billion pounds, lifted by 5.1 billion of net new money, a fifth
more than the previous year.
LONDON, Jan 21 (Reuters) – Hedge fund group Brevan Howard,
has settled its dispute with co-founder Christopher Rokos and
has agreed to help the star trader launch his own investment
fund later this year.
The end of the legal dispute, over an unusually long
five-year non-compete clause in his contract, comes at a time
when macro hedge funds are bleeding cash and many have been
forced to shut after nearly four years of mediocre performance.
LONDON, Jan 21 (Reuters) – Brevan Howard and its co-founder
Christopher Rokos have settled one of the most high-profile
non-compete legal disputes in the European hedge funds industry,
clearing the way for star trader Rokos to launch his own
investment fund later this year.
Brevan Howard, one of Europe’s biggest hedge fund firms that
managed more than $30 billion last year, will now help Rokos
set-up his new business and also take a financial interest in
the venture, according to a joint statement on Wednesday.
LONDON (Reuters) – Fortress Investment Group LLC’s macro hedge fund lost 7.64 percent last week, the latest in a series of funds to suffer after the Swiss National Bank (SNB) removed a cap on the franc, sending the currency soaring.
The Fortress Macro Fund, managed by Michael Novogratz and Jeff Feig, did not give a reason for the loss in the letter sent to investors on Wednesday. This raises the loss for the fund to 7.9 percent so far this year, the letter obtained by Reuters showed.