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Jan 11, 2012

The great hedge fund humbling of 2011

BOSTON/NEW YORK (Reuters) – Excuses, excuses and more excuses.

Some of the best-known hedge fund managers have offered lots of excuses for underperforming the major stock market indexes last year, with many large funds posting double-digit losses.

In letters to investors, managers pointed to things like Europe’s debt crisis, a slower-than-expected economic recovery in the United States, and unforeseen events like Japan’s nuclear disaster all coming together to create a tricky trading environment that was characterized by big and often unpredictable swings in stock prices.

Jan 11, 2012

Analysis: The great hedge fund humbling of 2011

BOSTON/NEW YORK (Reuters) – Excuses, excuses and more excuses.

Some of the best-known hedge fund managers have offered lots of excuses for underperforming the major stock market indexes last year, with many large funds posting double-digit losses.

In letters to investors, managers pointed to things like Europe’s debt crisis, a slower-than-expected economic recovery in the United States, and unforeseen events like Japan’s nuclear disaster all coming together to create a tricky trading environment that was characterized by big and often unpredictable swings in stock prices.

Jan 7, 2012

Paulson’s Advantage Plus Fund cut in half in 2011

NEW YORK (Reuters) – Hedge fund manager John Paulson lost more than half of the capital in one of his firm’s biggest funds, people familiar with the number said Friday.

His Advantage Plus fund, which was the firm’s worst performer through 2011, ended the year down roughly 52 percent. In 2010 that portfolio ended up 17 percent.

Sep 1, 2011

BNY Mellon CEO Kelly steps down

BOSTON/NEW YORK, Aug 31 (Reuters) – Bank of New York
Mellon’s (BK.N: Quote, Profile, Research, Stock Buzz) Chief Executive Robert Kelly stepped down in a
surprise move, because of what the company said was
“differences in approach to managing the company.”

BNY Mellon, one of the largest trust and custody banks, did
not elaborate on why Kelly, 57, was stepping down. The bank did
say the decision was a mutual agreement with the bank’s board.
A biography still posted on BNY Mellon’s website noted that
Kelly “was named one of America’s Best CEO’s for 2009″ by
Institutional Investor magazine.

Aug 23, 2010

Investors question “public” private equity

NEW YORK/BOSTON (Reuters) – Private equity and hedge funds going public have not had a smooth ride, and as more weigh navigating the choppy waters, investors in such funds are questioning the benefits.

Others waiting in the wings to follow the path of Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz) and Kohlberg Kravis Roberts & Co (KKR.N: Quote, Profile, Research, Stock Buzz) include Apollo Global Management APOLO.UL, which is planning to move its listing from a private exchange to the NYSE at some point.

Jan 29, 2010
via Funds Hub

The best deal on Wall Street?

Investors who don’t want to pay hedge funds’ high minimums can still get a taste of top managers’ best ideas at an exclusive conference in New York next week.

For as little as $1,000 — a tiny fraction of the $1 million many hedges demand as a minimum investment — guests can listen to activist hedge fund managers William Ackman and Nelson Peltz plus five other prominent investors talk trends and investment ideas.

Dec 23, 2009

Macro hedge funds tipped for 2010

LONDON/BOSTON (Reuters) – Hedge funds making big bets on currencies, commodities and equities are favoured by fund selectors in what is likely to be a more testing 2010 after a bumper year for hedge fund returns.

While 2009′s best trade has been to buy riskier assets rebounding from last year’s depressed prices, funds of funds think 2010 will not see such large price rises and will instead belong to managers with the skill to differentiate between economic and corporate scenarios.

Dec 23, 2009

Macro hedge funds, stockpickers tipped for 2010

LONDON/BOSTON, Dec 23 (Reuters) – Hedge funds making big
bets on currencies, commodities and equities are favoured by
fund selectors in what is likely to be a more testing 2010 after
a bumper year for hedge fund returns.

While 2009′s best trade has been to buy riskier assets
rebounding from last year’s depressed prices, funds of funds
think 2010 will not see such large price rises and will instead
belong to managers with the skill to differentiate between
economic and corporate scenarios.

Oct 21, 2009

Galleon winding down hedge funds

BOSTON/NEW YORK (Reuters) – Galleon Group, whose founder has been charged with masterminding the biggest-ever insider-trading scheme involving hedge funds, is shutting down.

Less than a week after being arrested at his New York home, Raj Rajaratnam told investors and employees in a letter that he was winding down the Galleon funds. He initially said he planned to keep his 12-year-old firm intact.

Oct 21, 2009

Galleon winding down; potential buyers reported

BOSTON/NEW YORK, Oct 21 (Reuters) – Galleon Group, whose
founder has been charged with masterminding the biggest-ever
insider-trading scheme involving hedge funds, is shutting
down.

Less than a week after being arrested at his New York home,
Raj Rajaratnam told investors and employees in a letter that he
was winding down the Galleon funds. He initially said he
planned to keep his 12-year-old firm intact.