India Funds Correspondent
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Oct 8, 2015

BlueCrest equity hedge fund up 10 percent this year, defying stocks rout

LONDON (Reuters) – BlueCrest’s equity hedge fund has gained about 10 percent this year, data seen by Reuters showed, riding out volatile global equity market moves that have led to deep losses for many peers.

One of the biggest hedge fund firms in Europe, led by billionaire Michael Platt, it has diversified away from its core strategies focused on interest rates, fixed income and credit.

Oct 2, 2015

Alliance Trust CEO steps down from board as Elliott forces overhaul

LONDON (Reuters) – Katherine Garrett-Cox, one of the City of London’s most high profile women CEOs, is to step down from the board of Alliance Trust in an overhaul of the fund manager which has faced pressure from activist investor Elliott to make changes.

Garrett-Cox, who will continue as chief executive of Alliance Trust Investments, has long been battling demands from shareholders to tackle the fund’s underperformance and the gap between its shares and the value of the assets it holds.

Oct 1, 2015

Alliance Trust CEO steps down as Elliott forces overhaul

LONDON, Oct 1 (Reuters) – Katherine Garrett-Cox, one of the
City of London’s most high profile women CEOs, is to step down
from the board of Alliance Trust in an overhaul of the
fund manager which has faced pressure from activist investor
Elliott to make changes.

Garrett-Cox, who will continue as chief executive of
Alliance Trust Investments, has long been battling demands from
shareholders to tackle the fund’s underperformance and the gap
between its shares and the value of the assets it holds.

Sep 24, 2015

Germany-focused investors must pay up to avoid VW, autos

LONDON (Reuters) – Investors looking to invest in German equities but stay clear of VW and the broader autos sector as an emissions-test cheating scandal rages will have to pay for the privilege.

For those who prefer the economy of passive funds that merely track stock indexes, no product that excludes VW in particular or German motor manufacturers in general is currently available.

Sep 15, 2015

Picky banks play hardball with hedge fund clients

LONDON (Reuters) – For Jonathan Kinlay, no novice at setting up a hedge fund, this time round was much harder.

In the traditional Grand Tour of investment banks looking for help to finance his trading, he was politely turned down by no less than six for being too small.

Sep 10, 2015

Global stock market rout offers opportunity for M&A hedge funds

LONDON (Reuters) – The sharp falls in global stock markets in August potentially offer hedge funds that decide to bet on the outcome of merger deals a chance to make some juicy returns.

A plunge in China’s equity markets last month that triggered falls around the world, in theory, makes it cheaper for hedge funds to set up a so-called merger arbitrage trade.

Sep 9, 2015

KKR to buy stake in Marshall Wace in hedge fund drive

LONDON/BENGALURU (Reuters) – American private equity firm KKR & Co (KKR.N: Quote, Profile, Research, Stock Buzz) is buying a stake in European hedge fund operator Marshall Wace, raising its bets on the rapidly growing $3 trillion industry.

KKR will acquire a 24.9 percent stake in the London-based company, one of Europe’s biggest hedge fund operators with $22 billion of assets under management, with an option to raise it to 39.9 percent.

Sep 9, 2015

UK fund supermarket Hargreaves Lansdown pulls in record new business

LONDON, Sept 9 (Reuters) – British financial services firm
Hargreaves Lansdown was buoyed on Wednesday by a surge
in full-year assets that more than offset forecast-lagging
profit and revenue, sending its shares higher.

Hargreaves, the country’s biggest retail-focused investment
platform, is developing new fund and pension services to
diversify revenue and has been a big beneficiary of recent rule
changes that free up how individuals invest for retirement.

Sep 8, 2015

UK fund manager Ashmore’s profit up despite emerging market sell-off

LONDON, Sept 8 (Reuters) – Emerging markets money manager
Ashmore Group reported a rise in profit and revenue for
the year ending June, benefiting from a rise in performance
fees, cost cuts and a stronger U.S. dollar, sending shares in
the UK-based firm higher on Tuesday.

The improvement came despite a 21 percent drop in its assets
under management (AUM) as investors asked for their money back
due to uncertainty over the health of the Chinese economy and
the prospect of an interest rate hike in the United States.

Sep 4, 2015

China-focused hedge funds lose top spot to Japan peers in August

LONDON, Sept 4 (Reuters) – China-focused hedge funds
suffered record losses in the past three months and were
overtaken by their Japan-themed peers as this year’s best
performers, leaving them at risk of a surge in redemptions.

China hedge funds, which collectively manage $21.5 billion
in assets, posted a 17.9 percent loss for June-August, the worst
ever for a three-month period, amid a rout in Chinese stock
markets, data from hedge fund tracker Eurekahedge shows.

    • 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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