LONDON, Oct 16 (Reuters) – Lansdowne Partners will appoint
one of its top portfolio managers Stuart Roden as chairman at
the end of the year, the latest step in a reshuffle at the $17
billion hedge fund firm, according to a letter to investors seen
Roden, who joined Lansdowne in 2001 from Mercury Asset
Management, is co-head of developed market strategy at one of
the biggest hedge funds in Europe. He co-manages the strategy
with colleagues Peter Davies and Jonathon Regis and will
continue to work for Lansdowne full time.
LONDON (Reuters) – Hedge fund manager Man Group reported on Thursday a sharp jump in funds under management (FuM) and a surprise fifth successive quarter of net inflows in the last three months, sending its share price up in a generally weaker market.
The world’s biggest listed hedge fund firm said FuM rose by 25 percent to $72.3 billion in the third quarter, edging closer towards its highest ever level of $79.5 billion hit in mid-2008.
LONDON (Reuters) – Some of the world’s best known hedge funds lost hundreds of millions of dollars in the value of the stock they hold as Shire plunged after AbbVie’s decision to reconsider its $55 billion bid for the British healthcare group.
Data from Britain’s Financial Conduct Authority (FCA) regulatory body showed that no fund had a major “short” position of more than 0.5 percent, indicating that most hedge funds were confident of the deal’s success.
LONDON (Reuters) – Magnus Peterson, the founder of the $600 million Weavering hedge fund that collapsed in the wake of the credit crisis in 2009, pleaded not guilty to 16 fraud-related charges at his London trial on Tuesday.
The Swedish-born financier, who sat with his legal team as a jury was selected and the prosecution opened its case, is accused of offences ranging from fraud by misrepresentation and forgery to fraud by abuse of position and fraudulent trading between 2003 and 2009.
LONDON (Reuters) – Ashmore Group assets fell more than expected in the September quarter as weaker markets led to portfolio losses and some investors opted to take money out of its funds, pushing the company’s shares down to four-year lows.
The figures illustrate the vulnerability of emerging market-focused asset managers such as Ashmore to the prospect of interest rate hikes in the U.S. which make investors more likely to sell riskier assets bought in search of higher yields.
LONDON, Oct 14 (Reuters) – Guard Capital, a macro hedge fund
firm launched by two former top traders at Goldman Sachs
and Noble Group in August, gained 11.2 percent in value last
month as its currency and interest rate bets paid off, a letter
to investors obtained by Reuters showed.
Macro hedge funds, which focus on major economic trends and
bet anywhere they see value, including stocks, currencies,
bonds, commodities and derivatives markets, ended their struggle
to make money this year amid a return in volatility in the
foreign exchange market last month.
LONDON, Oct 14 (Reuters) – Emerging market fund manager
Ashmore Group said assets under management fell in the
September quarter as weaker market conditions led to portfolio
losses and money leaving some of its funds.
Money managed by Ashmore declined by $3.7 billion during the
quarter to $71.3 billion. While negative investment performance
contributed $3.4 billion to the fall, about $300 million also
left its funds, the fund firm said in a statement on Tuesday.
LONDON, Oct 10 (Reuters) – Jupiter Fund Management
said assets under management (AuM) fell in the third quarter
after the sale of a unit, while the pace of new money entering
its funds also slowed.
AuM dropped to 31.7 billion pounds ($51.12 billion) in the
September quarter from 33.1 billion at the end of June, it said
in a statement, after 2.2 billion pounds in private clients left
the company after the sale of its private client and charities
operations to a unit of Rathbones.
LONDON (Reuters) – Bill Gross’ exit from Pimco has seen billions of dollars leave the fund group and even more value wiped off the share price of its parent company, offering a warning both to firms who rely on star managers and the investors who chase them.
Gross’s flagship Pimco Total Return Fund lost money every month from May last year, totaling nearly $70 billion by the end of August, Lipper data shows. More money has left since he was escorted to the door of the firm he co-founded in 1971.
LONDON/BOSTON, Oct 1 (Reuters) – Goldman Sachs Group Inc
has bought a 10 percent stake in hedge fund Caxton
Associates, its third investment for its recently launched
Petershill II fund, two sources familiar with the move said on
Caxton, founded 31 years ago by Bruce Kovner, manages
roughly $8 billion in currencies and interest rates around the
world and has returned an average 13 percent per year to
clients, people familiar with the fund said.