India Funds Correspondent
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May 20, 2015

Intermediate Capital Group posts record assets, shares rise

May 20 (Reuters) – Intermediate Capital Group Plc
said assets under management rose to a record 18 billion euros
($19.9 billion) at end-March, driven by strong demand for
higher-yielding assets in Europe, boosting its shares.

A 39 percent surge in assets from the prior year included a
record 6.4 billion euros of new money raised by the firm, which
specialises in providing mezzanine finance, private debt and
leveraged credit.

May 18, 2015

UK railway pension manager boosts bets on ‘smart beta’ funds

LONDON (Reuters) – Britain’s railway pension manager RPMI will boost the money it invests in funds that replicate some of the active strategies of fund managers at lower cost to a third of its 21 billion pound portfolio.

The shift is part of a two-year portfolio rejig entering its final stage, which has seen RPMI cut its investments in actively-managed mutual and hedge funds, its Investment Director Ciaran Barr said in an interview.

May 11, 2015

Ex-Goldman trader Lim’s hedge fund assets hit $500 million – sources

LONDON (Reuters) – Guard Capital, a macro hedge fund led by two former top traders at Goldman Sachs and Noble Group will stop taking money from new investors from July 1 after a more than ten-fold increase in assets since its launch last August, sources said.

The Hong-Kong based hedge fund, launched by Leland Lim, the former co-head of macro trading for Asia Pacific ex-Japan at Goldman, and Allan Bedwick, who was the head of macro trading in Asia for Noble Group, focuses on major economic trends and bets on currency and interest rate markets.

May 8, 2015

Hedge fund firm Man Group feels investor backlash on pay

LONDON, May 8 (Reuters) – Man Group, the world’s
largest listed hedge fund firm, on Friday became the latest
company to feel the ire of investors over director pay, with
bonus plans of executives drawing particular dissent.

From Sanofi to Barrick Gold Corp ,
companies around the globe from a variety of sectors have seen
pushback from shareholders, particularly with regard to
financial perks.

May 8, 2015

Man Group funds under management hit record $82 bln

LONDON, May 8 (Reuters) – Man Group Plc’s funds
under management (FuM) have risen by about $9 billion this year
to a record $82 billion, although the world’s biggest listed
hedge fund firm continues to be cautious on the outlook for
first half flows.

FuM rose 7 percent to $78.1 billion in three months to end
of March, with an additional $2.4 billion from its earlier
announced acquisitions of NewSmith and the fund of funds
business of Bank of America Merrill Lynch.

May 7, 2015

BlueCrest’s main macro hedge fund posts best monthly gain for five years

LONDON (Reuters) – BlueCrest’s flagship macro hedge fund, managed by billionaire Michael Platt, gained 2.8 percent in April, recording its highest monthly return in more than five years, an investor newsletter seen by Reuters showed.

The gain marks a sharp recovery by the BlueCrest Capital International fund, which had seen billions of dollars in outflows after two years of poor returns and a near 6 percent loss in January, partly from bets that went sour after an unexpected surge in the Swiss franc.

May 6, 2015

BlueCrest’s main macro hedge fund posts best monthly gain for five years – letter

LONDON, May 6 (Reuters) – BlueCrest’s flagship macro hedge
fund, managed by billionaire Michael Platt, gained 2.8 percent
in April, recording its highest monthly return in more than five
years, an investor newsletter seen by Reuters showed.

The gain marks a sharp recovery by the BlueCrest Capital
International fund, which had seen billions of dollars in
outflows after two years of poor returns and a near 6 percent
loss in January, partly from bets that went sour after an
unexpected surge in the Swiss franc.

May 1, 2015

SVG Capital survives shareholder revolt at annual meeting

LONDON, May 1 (Reuters) – British investment trust SVG
Capital survived an investor rebellion at its annual
general meeting on Friday, when nearly 40 percent of votes were
cast against its pay policy for top executives and the
re-election of its chairman.

At last year’s meeting just 5.5 percent of votes were cast
against the election of Chairman Andrew Sykes and 1 percent
against the pay policy, a SVG Capital statement showed.

Apr 28, 2015

Alliance Trust agrees ceasefire with Elliott to avoid face-off

LONDON, April 28 (Reuters) – Alliance Trust has agreed to
revamp its embattled board by appointing two of the three
directors pushed by Elliott Advisors, handing a partial win to
the activist just hours before other investors were due to vote
on the shake-up.

The last-minute compromise marks the end of one of the
highest-profile shareholder rebellions against a British company
and sets the stage for further change at the 127-year old
company led by Katherine Garrett-Cox.

Apr 28, 2015

Omni nears $1 bln in assets with new direct lending fund

LONDON, April 28 (Reuters) – Omni Partners is aiming to
raise $250 million this year in its second fund lending to
companies, looking to profit by extending short-term loans
secured against residential and commercial properties in
Britain.

The hedge fund firm launched a similar so-called direct
lending fund last year and lent about $50 million from it across
92 loans, earning 10.4 percent return for its investors in the
first year.

    • 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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