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Jul 20, 2015

Crash curbs early European appetite for China’s ‘A-Shares’

LONDON, July 20 (Reuters) – Tumbling share prices and
trading suspensions have tempered any early enthusiasm for
mainland Chinese equities among overseas funds, confirming the
cautious approach evident in their limited exposure despite
official attempts to lure them in.

Three government programmes designed to help overseas
investors buy Chinese stocks have had limited takeup and it will
likely take a measure such as inclusion in more mainstream stock
market indexes for that to change dramatically.

Jul 16, 2015

Britain trims Lloyds stake to less than 15 percent; $20 billion raised so far

LONDON (Reuters) – Britain has reduced its stake in Lloyds Banking Group (LLOY.L: Quote, Profile, Research) to less than 15 percent, moving closer to a full privatisation, having raised 13 billion pounds ($20 billion) so far from the sale of its shares.

Lloyds was rescued during the 2007/09 financial crisis, costing taxpayers 20.5 billion pounds and leaving the government with a 43 percent stake. Britain’s finance ministry began selling its shares in September 2013 and is on track to return the bank to full private ownership next year.

Jul 16, 2015

Britain trims Lloyds stake to less than 15 pct; $20 bln raised so far

LONDON, July 16 (Reuters) – Britain has reduced its stake in
Lloyds Banking Group to less than 15 percent, moving
closer to a full privatisation, having raised 13 billion pounds
($20 billion) so far from the sale of its shares.

Lloyds was rescued during the 2007/09 financial crisis,
costing taxpayers 20.5 billion pounds and leaving the government
with a 43 percent stake. Britain’s finance ministry began
selling its shares in September 2013 and is on track to return
the bank to full private ownership next year.

Jul 15, 2015

Hedge fund investors fear lockdown amid China, Greece difficulty

LONDON (Reuters) – Hedge fund clients face a nervous wait to see if firms betting on the troubled Chinese and Greek markets can avert emergency measures that give them power to lock away investors’ cash.

Both China and Greece have taken steps in the last month to curb sell-offs in their stock markets by imposing trading restrictions. Hedge funds exposed to the two markets are now finding it tough to value their holdings.

Jul 9, 2015

Greek shock in June helps jolt macro hedge fund recovery

BOSTON/LONDON, July 9 (Reuters) – Hedge funds that make big
bets on currencies, interest rates and commodities were hit hard
in June as a worsening Greek debt crisis, concerns about China
growth and U.S. rate rise uncertainty unsettled markets.

The losses mark a reversal in fortunes for the global macro
and trend-following trading strategies, both of which had
finally appeared to be bouncing back after years of lacklustre
returns. Such funds had gained about 3 percent through May this
year, their best start in six years.

Jul 6, 2015

Fortress macro fund co-investment chief Feig leaving firm-sources

BOSTON/LONDON, July 6 (Reuters) – Jeff Feig, the co-chief
investment officer of hedge fund Fortress Investment Group LLC’s
macro fund is leaving the company after less than a
year, with Michael Novogratz becoming sole CIO, three sources
with knowledge of the changes said.

This marks the second time in roughly six months that the
$70 billion fund company is making changes at its macro fund,
which started the year off with heavy losses after being
wrong-footed on its Swiss franc trade.

Jul 4, 2015

Blackstone hires Liping Zhang as Greater China chairman -sources

LONDON/HONG KONG July 3 (Reuters) – Blackstone Group LP
has hired Liping Zhang as its chairman for Greater China
as private-equity deals boom in the region, the U.S.-based firm
said on Saturday, confirming an earlier Reuters story.

Zhang, who mostly recently served as the co-chief executive
officer for Greater China at Credit Suisse, will help
Blackstone to expand its presence in the region, the statement
added.

Jul 3, 2015

Greek chaos brings valuations headache for fund firms

LONDON (Reuters) – Fund firms with even token exposure to Greece hope Athens will soon reopen its stock exchange so they can wave goodbye to the ‘guess-work’ of valuing their funds.

The closure of the Athens Stock Exchange .ATG since Monday has made it impossible for managers to ascertain exactly how far the value of shares in bluechip Greek companies such as Alpha Bank (ACBr.AT: Quote, Profile, Research, Stock Buzz) and Hellenic Telecommunications (OTEr.AT: Quote, Profile, Research, Stock Buzz) might have fallen since the country fell deeper into crisis. It is unclear when the bourse will reopen.

Jul 2, 2015

Hedge funds see more demand fueled by solid first half returns

BOSTON/LONDON (Reuters) – Hedge funds will likely attract billions of dollars in new money in the next six months after posting solid returns in the first half even as Wall Street’s sell-off, sparked by Greece’s debt drama, took a bite out of some managers’ June returns.

Hedge funds that bet mainly on stocks could take in as much as $14 billion in fresh cash in the second half, roughly double what came in during the first five months of the year, according to forecasts from industry research firm eVestment.

Jun 29, 2015

Grexit fears risk derailing best start by hedge funds in 6 years

LONDON/BOSTON, June 29 (Reuters) – Greece’s worsening debt
crisis threatens to derail the best start to the year for global
hedge funds since 2009, as a bitter standoff between Athens and
its creditors rattles financial markets.

Hedge funds returned 4.6 percent through the end of May, the
highest during the same period in the last six years, data from
industry tracker Eurekahedge showed. Those focusing on Europe
did better, gaining 6.3 percent.

    • 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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