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.
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.
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.
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.
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.
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.
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
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.
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
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.
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.
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.