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The Hedge Funds Weblog
Hedge Funds News easy to digest.
Summary1 - Hedge Fund Fight Nite 2 - OakRun Cayman Hedge Fund Launch 3 - Morningstar and Barron's Survey Highlights An Upward Trend In Alternatives 4 - Top Performance From Hedge Fund Brotman Capital 5 - Heh, heh...what? 6 - Diamond Trading 7 - Hedge Funds in India 8 - Wall Street Survivor Training 9 - AIMA Updates Hedge Fund Adequacy Guide 10 - Halloween Charity Bash 11 - Confidence Declines in October 12 - Report on the Impact Presidential Elections will have on US Investments 13 - Hedge Fund Conferences 14 - 2009 Hybrid Toyota Camry - Review 15 - ICI Offers Alternative to Pickens Plan 16 - GlobeOp Clients Mitigate Lehman Losses 17 - Single Family Offices Investing in Hedge Funds 18 - Overstock Settles After Gradient Apologises 19 - Hedge Fund Manager Attempts Overhaul of Noront's Board of Directors 20 - Review-GFA 21 - AIC Says Hedge Funds Still Viable 22 - HedgeCo Launches Hedge Fund Calculator 23 - Lehman - No Comment 24 - Wolfpack of Hedgies Fund Tories 25 - Vodia Expands Into Frontier Markets 26 - Hedge Fund Topless Case Thrown Out 27 - MSCI Barra, Morningstar Arrangement 28 - Lehman, Recruitment in Hedge Funds, Nigeria, and Hedge Fund Calculators 29 - Bankruptcy at Lehman Brothers 30 - Pegasus Sees 36th Month Of Positive Returns 31 - Hedge Fund Managers Work Together 32 - Venus India Fund 33 - TriAlpha Hedge Fund Launches 34 - M Stanley' Frontier Fund 35 - Endowment Investing Options 36 - Africa Fund Launch 37 - Trip To Copenhagen 38 - Harbinger Hedge Fund Picks Next Battle 39 - Weekend News Update 40 - Cows & how the world works 41 - Hedge Fund Round Up 42 - More On Hedge Fund Jobs 43 - China Approaches Policy Change 44 - Trump's India Hedge Fund 45 - Hedge Fund Advisor Hires Mathematician and Boosts Assets
Items
Elliot "The Machine Gun" Odell, a 32-year-old Briton working in the hedge fund industry in Hong Kong and Graham "The Real Deal" McNeill, a 35-year-old partner at property sector consultants EC Harris, recently competed at "Hedge Fund Fight Nite," a charity boxing match. Along with Richard "The Lion Heart" Le-Gallez from HSBC and James "Squeeze" McCaughey from Macquarie investment bank..
All money raised from the event was to go to Operation Breakthrough, which uses boxing as a tool to help tackle juvenile delinquency in Hong Kong, and Operation Smile, which helps repair childhood facial deformities in the poorest parts of the world, organisers said.
Complete story at; Hedge fund fighters deal with market pounding in the boxing ring
See full article.
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Date: Thu, 20 Nov 2008 04:27:08 -0800
In HedgeCo news, hedge fund Manager OakRun Capital LLC announced the launch of a receivables refactoring fund, the 'Short Term High Yield Fund'.
The Cayman Islands exempted fund launched on October 1st and came in at 9.48% annualized in its first month. The fund's objective is to generate above average current income with a lower overall credit risk profile and maintain a stable NAV.
"We do not believe that simply managing for relative performance is satisfactory to our clients or ourselves." says Scott Rhodenizer, Founder, CEO, and Chief Investment Officer, "While we work to outperform the markets, we strive to do so without excessive risk."
Complete article; Hedge Fund Manager OakRun Launches Short Term Fund
See full article.
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Date: Tue, 18 Nov 2008 01:06:39 -0800
"Our survey found that both institutions and advisors want alternative investments that are liquid, transparent, and regulated like traditional investments," said Steve Deutsch, director of separate accounts and collective investment trusts at Morningstar. "We conducted this survey during one of the worst market downturns in history, where traditional U.S. and international investments plummeted and almost no alternative investments provided safe haven."
"One particularly interesting survey result was that against this backdrop, the majority of both advisors and institutions still reported that they expected to increase usage of alternative investments in the future, and they believed alternative investments will continue to grow in importance versus traditional investments," Deutsch added. "Recent poor performance of alternatives has not caused advisors or institutions to question their usage."
Among the survey findings are that for institutions limited partnerships, including hedge funds, direct real estate, and private equity, are the most popular alternative vehicles for institutions.
Read Complete Article
See full article.
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Date: Tue, 11 Nov 2008 04:34:41 -0800
In a HedgeCo story today, Brotman Capital Partners has turned in the best performance Year to Date of a Market/Trend Timing Hedge Fund.
Through October, 2008 the Fund is up over 14% net of fees.
According to Dr. Randy Brotman, Chairman and CEO, the fund has remained in cash since the middle of August. He states that "in our Trend Timing Fund, cash is an option, therefore a position."
See full article.
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Date: Mon, 10 Nov 2008 02:36:05 -0800
Sent to me by an anonymus hedge fund investor;
An investor hands a hedge fund manager a £10 note.
"Get me a drink. If I like your choice, I'll buy the drinks all night" says the investor.
The hedge fund manager shrugs and orders them a pint of Guinness each.
The barman pours the drinks, takes the cash, and then tells the hedge fund manager "You should have bought vodka instead."
"Really? Why vodka instead of Guinness?" asks the manager.
"More transparency, greater liquidity," replies the barman.
Too late! The investor had already exited....
See full article.
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Date: Mon, 03 Nov 2008 08:54:24 -0800
An interesting platform was brought to my attention, see for yourself here.
The world's first online certified diamond exchange which uniquely offers electronic two-way auctions for buyers and sellers to trade individual diamond categories based on real time tradable spot prices.
See full article.
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Date: Thu, 30 Oct 2008 03:51:48 -0800
MUMBAI: As the Indian market went into a tailspin yet again, the finger of blame once again pointed to leveraged hedge funds, which are trying to cut their losses and run.
But some global fund managers and hedge fund officials maintain the crash was accentuated by too many leveraged players rushing for the exit door at the same time, and not just hedge funds alone.
More at Richard Wilson's Blog
See full article.
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Date: Tue, 28 Oct 2008 08:31:56 -0800
A new online game has been brought to my attention, it's called Wall Street Survivor, where novice investors can contemplate their present and future investment plans without gambling with their hard earned savings.
The site's proprietary technology platform is in use by over 200,000 students worldwide as part of the curriculum at 900 schools including Columbia, the University of Chicago, Yale, London School of Business, McGill University and others. The platform also maintains an evolving database of stock trading tips and articles on investment strategies.
"In this day and age people, now more than ever must take the time to properly prepare themselves prior to taking risks," states Rory Olson, CEO of Stock-Trak Group.
More at; Gaming and Investing
See full article.
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Date: Tue, 28 Oct 2008 07:57:52 -0800
Global representative association for the hedge fund industry, the Alternative Investment Management Association (AIMA), has issued updated guidance to its members on how to implement an Internal Capital Adequacy Assessment Process.
"The hedge fund industry has embraced the capital adequacy debate proactively and the sophisticated risk management techniques undertaken by hedge funds make this framework possible," Andrew Baker, AIMA's Deputy Chief Executive, said, "Hedge fund managers employ progressive business management techniques and we are fortunate to be able to draw on the expertise of leading advisers from the industry to guide our membership on how to most effectively implement this process."
AIMA's ICAAP Guidance Note - originally published in July 2007 - has been revised to address issues that have been identified now that firms and the FSA have gained more practical experience of the ICAAP; and to include examples of the processes that have been implemented by firms to date.
See full article.
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Date: Mon, 27 Oct 2008 06:34:40 -0800
The 13 Ugly Men Foundation is hosting the 11th ANNUAL HALLOWEEN FREAKSHOW on Friday, October 31st, 2008 at the Sheraton Riverwalk Hotel, in Tampa, Florida this year.
Benefits will go to;
Pediatric Cancer Foundation
Achieve Tampa Bay
Local Military Veterans
Gift of Adoption
Childrens Dream Fund
Cystic Fibrosis Foundation
13 Ugly Men Foundation, Inc. is a not-for-profit organization founded in the early '90s with one firm goal in mind - to host great parties and donate the proceeds to local charities. Comprised currently of 27 members, these young professionals are active in many aspects of life and charity in the Tampa Bay area. The members of 13 Ugly Men consist of doctors, lawyers, financial planners, college professors, and entrepreneurs who are good natured and like to "party with a purpose".
In April of 2006, The Children's Home awarded the 13 Ugly Men Foundation with the prestigious Helen Ayala Davis Award, given previously to General Norman Schwarzkopf, George and Joan Steinbrenner, and Outback Steakhouse founders Robert Basham, Timothy Gannon, and Chris Sullivan.
See full article.
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Date: Fri, 24 Oct 2008 01:38:49 -0800
Confidence among North American investors fell particularly sharply from a revised level of 75.1 to 50.8. Elsewhere, the declines were less dramatic, with European confidence falling just 1.5 points to 79.6, and Asian confidence declining 0.6 points from 87.1 to 86.5.
"This month we saw a dramatic and unprecedented decline in investor confidence to a new record low, led by investors in North America," commented Froot. "We saw broad and important reductions of risk across investor portfolios previously at times like the Asian Crisis in 1997 and the Russian-LTCM crisis in 1998. However, even the strong broad-based selling of risk we saw during those events appears small compared with the current outflows. The combination of financial crisis along with truly global macroeconomic risk of deep recession has been causing a complete re-evaluation of risk across a wide investment community centered on US institutional investors."
"When you remember that this measure of investor confidence is not a survey, but rather is based on the actual trades of institutional investors, the readings are particularly striking," added O'Connell. "The period over which this reallocation was measured in investor portfolios, September 17 to October 15, saw the largest single reallocation away from risky assets that we have witnessed in the data since it first became available in 1994."
See full article.
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Date: Thu, 23 Oct 2008 07:24:27 -0800
In a HedgeCo story, the Association of Investment Companies (AIC) has collated the views of some investment company managers with high exposure to the US.
In general, the managers believe that the elections will have an impact on their US investments and the recent crisis in global markets will influence the election result. A new President will bring with them a new set of policies and managers seem optimistic about the future of the US and its long term investment opportunities.
Peter Dicks, Chairman of Private Equity Investor said: "Yes, I believe the election will have an impact in the sense that it will remove an administration which has largely become a lame duck and more importantly it will remove uncertainty. No doubt the first 100 days will be significant especially, in my opinion, if Obama gets in.
See full article.
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Date: Wed, 22 Oct 2008 06:49:51 -0800
Among upcoming hedge fund conferences are the IFSB Seminars on the Regulation of Takaful, themed "Challenges in Maintaining Solvency for Takaful Undertaking.
Takaful is an Islamic insurance concept which is grounded in Islamic muamalat (banking transactions), observing the rules and regulations of Islamic law.
The two Takaful related seminars this coming November, which the Monetary Authority of Singapore is hosting are:
1. Seminar on Rating of Takaful and Retakaful Firms on 25 November 2008
2. 4th Seminar on the Regulation of Takaful on 26 - 27 November 2008.
Both seminars will be held at the Grand Hyatt Singapore.
See full article.
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Date: Fri, 17 Oct 2008 02:26:49 -0800
When asked to review the 2009 Toyota Camry on account of its hybrid status, as I am green that way, I found that it made it as number three in the top 100 Cars by Green Rating.
The Camry is a mid-size, front-wheel-drive sedan, a 268-horsepower, 3.5-liter V-6 is available on the 2009 Toyota Camry, but the standard engine is a 2.4-liter four-cylinder good for 158 horsepower. It has a clean exterior and a comfortable interior, if you are looking for a basic, reliable, get where you're going with a good concience car, this one comes highly recommended.
Buying green is one of the ways to reduce the environmental impact of automobile use. Your choice of vehicle is most important, but how you drive and how well you maintain your car, van, or light truck will also make a difference.
The Toyota Camry is now in its third year of redesign, continuing to receive high marks and good reviews from drivers and reviewers for its quality and smooth ride.
While not the most powerful in its class or the most exciting, it does deliver performance, consistency, and comfort. The Camry also gets good marks for its economy, safety features, and ease of handling, and retains its value well.
See full article.
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Date: Fri, 17 Oct 2008 01:22:58 -0800
A national program known as the Intelligent Community Initiative (ICI) is offering an alternative restructuring operation using interconnected client-server databases and online training, resulting, the company says, in self-sustaining financial communities which are not as vulnerable to global financial collapse.
In September ICI announced an alternative to the Pickens Plan called Operation Energy Transition (OET). According to ICI analysis, the plan that oil billionaire T. Boone Pickens released in July 2008 intensifies the problems of the Peak Oil crisis by transferring dependence on oil to operate automobiles to dependence on natural gas to do the same.
The alternative answer proposed by Intelligent Communities, Operation Energy Transition, calls for a ramped-up increase in telecommuting, innovations such as carpooling software and a new mode of transport it refers to as intellitaxis, and an enhanced focus on more commonly known ideas such as alternative vehicles and increasing solar and wind technology and availability. While the Pickens Plan can be described in just 2 or 3 sentences, adequately describing OET takes a wall map, which is conveniently located on the OET site.
"If we're going to solve the problem, let's solve it", Krusch said. "Rolling out a plan which is destined to put America yet again behind the eight ball is not the plan we need: Operation Energy Transition is."
See full article.
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Date: Fri, 17 Oct 2008 00:33:16 -0800
In a HedgeCo story, hedge fund provider GlobeOp Financial Services S.A. published its Interim Management Statement covering the period since 30 June 2008. As a group, GlobeOp's clients appear to have out-performed the industry.
In the three months prior to Lehman Brothers insolvency, GlobeOp used GoCredit to identify and assess specific exposures. As a result, clients terminated or re-assigned over half of their Lehman Brothers positions, reducing their initial margin posted with Lehman by approximately $180 million.
See full article.
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Date: Thu, 16 Oct 2008 04:21:40 -0800
According to "On the Rise," the latest research report sponsored by CPA firm Rothstein Kass, the alternative investment sector will continue to benefit from increasing asset allocations from Single Family Offices (SFOs).
The findings include that almost three-quarters of SFOs currently invest in hedge funds, with nearly 60% of this group planning additional allocations in the coming year
SFOs with hedge fund allocations hold an average of 3.2 hedge funds or fund-of-funds in the portfolio. Nearly 70% of SFOs with hedge fund allocations report that these investments have met or exceeded performance expectations over the past 12 months.
Over 70% of SFOs with hedge fund allocations report "lack of transparency" as a key concern. Other concerns sited include lock-up periods (60%), style drift (55%) and fraud (37%)
More at; Survey Shows Nearly 75% of Single Family Offices Invest in Hedge Funds, With Plans to Increase
See full article.
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Date: Thu, 16 Oct 2008 02:09:45 -0800
In a HedgeCo story Overstock.com Inc. announced it has settled all claims against Gradient Analytics and its principals and officers named as defendants in Overstock's defamation case filed in Marin County, California.
Overstock.com chairman and CEO, Patrick Byrne said, "I am pleased to publish this statement from Gradient Analytics:"
Having reviewed all SEC filings, relevant accounting literature, and all other information available to it, Gradient now believes that, to the best of it knowledge, Overstock's stated accounting policies did in fact conform with Generally Accepted Accounting Principles (GAAP) and regrets any prior statements to the contrary.
See full article.
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Date: Tue, 14 Oct 2008 08:29:02 -0800
Hedge fund manager Rosseau Asset Management Ltd. and certain related parties have filed a dissident's proxy circular (the "Dissident's Circular") to Noront Resources Ltd., in which the hedge fund group controls over approximately 9.2% of common shares.
Rosseau asks Noront's shareholders to vote against the re-election of the Company's current Board of Directors and instead vote to elect a new slate of directors at the upcoming annual meeting of shareholders scheduled to be held on October 28, 2008.
Rosseau rejected Noront's compromise proposal and has commenced its proxy fight with the filing of the Dissident's Circular, saying, "Rosseau's action is not in the best interest of shareholders. It is an opportunistic attempt, in light of extraordinary recent market conditions......Norent will respond (to the circular) shortly."
Full Story Here
See full article.
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Date: Fri, 10 Oct 2008 02:46:48 -0800
I have been reading the somewhat lengthy (aprox.250 pages) Global Future Analysis report by the Planck Foundation, I posted the review here on HedgeCo blogs.
"It has been said that there are three types of people: Those who make things happen, those who watch things happen and those who wonder what happened," it says on the cover of the report.
The Global Future Analysis report covers the interfacing/interaction between the Energy Crisis and Credit Crisis, which both has taken the lead in the daily news worldwide. The report analyses/describes the causes/consequences/effects of both the Credit Crisis and the Energy Crisis and analyses the each other enforcing powers (1 + 1 = 4) of both. Additionally, also analyzed are the Water Crisis and its severe effects on food prices.
See full article.
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Date: Thu, 09 Oct 2008 07:20:53 -0800
According to a recent survey conducted by the Association of Investment Companies (AIC), a poll of 1,300 sophisticated private investors showed that 15% believed that hedge funds offer the potential for strong returns in the current environment. However they are also concerned about their perceived lack of transparency (17%) and riskiness (17%).
"Many of these investors' concerns over hedge funds are addressed through the listed hedge fund and fund of hedge funds sectors," Annabel Brodie-Smith, Communications Director of the Association of Investment Companies (AIC) said, "The listed structure of closed ended hedge funds and fund of funds means investors have access to a much higher level of transparency. Shares in listed funds are available on the stock market just like any other share so they are available to those of modest means as well as the super wealthy."
More at; Potential for Hedge Fund Returns Is Still There For Investors - Report
See full article.
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Date: Wed, 08 Oct 2008 09:42:42 -0800
HedgeCo Networks LLC today announced the launch of the next generation online analytical and reporting tool, the Hedge Fund Calculator.
Designed for hedge funds and funds of hedge funds, the calculator is available for a monthly or annual subscription service, HedgeCo says, "(the calculator) facilitates the rapid computation of quantitative statistics, net performance numbers and the creation of branded marketing materials."
Aaron Wormus, Managing Director of HedgeCo Networks said, "Through the HedgeCo.Net hedge fund database and Hedge Fund Websites platform, we have worked with thousands of funds worldwide to create statistical performance reports and compelling investor presentations."
Read complete article
See full article.
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Date: Mon, 06 Oct 2008 03:05:49 -0800

See full article.
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Date: Tue, 30 Sep 2008 09:44:15 -0800
Acocrding to the Guardian.co.uk - "The Tories were accused last night of being bankrolled by a City 'wolf pack' after it emerged that the party was receiving hundreds of thousands of pounds from hedge fund managers who have been making vast sums of money from plunging bank shares."
It has also emerged the Conservatives have continued to receive money from Lord Laidlaw, a Monaco-based tax exile who has given the party more than £3m. One donation came after the fact that he had taken part in orgies with prostitutes was exposed in the tabloids.
The revelations, made in a Channel 4 Dispatches programme to be broadcast tomorrow night, cast a shadow over Cameron's attempts to seize the political initiative during this week's conference. They are likely to reignite the row over how the Tories are funded and raise questions about his personal commitment to transforming the party's image.
See full article.
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Date: Tue, 30 Sep 2008 09:25:00 -0800
Reflecting a growth in corporate activities, Vodia Group has rebranded as Finadium. The move was made, the re-named Finadium says, to showcase an ability to develop new ideas and create products and marketing strategies in financial markets, expanding beyond the original scope of Vodia Group.
The Finadium name comes from the abbreviation Fin for finance and the latin word Aedium, meaning house. As Finadium, the firm emphasizes its core value proposition - providing ideas, product development and marketing strategies to the securities and investments industry.
Based on proprietary surveys and market knowledge, the company is looking multiple market sectors such as institutional investors, hedge funds and traditional asset managers.
As part of the rebranding, the company are launching a monthly newsletter for portfolio managers, traders and others looking for briefings on prime brokerage, securities finance and custody but who do not need the detail of our full reports.
Also expanding into frontier and emerging markets, Josh Galper, Managing Principal, says "As Finadium, we are pleased to expand our audience in prime brokerage, securities finance and custody to include a broader range of market professionals. We also look forward to tackling the complex subject matter of financial services in frontier and emerging markets."
See full article.
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Date: Mon, 29 Sep 2008 09:58:47 -0800
First, she lost her top. Now, she's lost her court case, according to the New York Daily News.
"A hedge-fund hottie who sued Vibe and Diddy after the mag published a topless picture of her at the music mogul's Hamptons blowout has had her case tossed out.
Maria Dominguez, a money manager for a hedge fund, filed the $3 million invasion-of-privacy suit when a shot of her with two other bare-breasted sirens ran in the November 2006 issue of Vibe next to the caption, "Mermaids gone wild."
"When that picture came out, she wasn't too happy about it, that's for sure," said her lawyer, Albert Maimon. He would not identify the hedge fund for which Dominguez works.
Justice Doris Ling-Cohan threw out the suit, saying Dominguez couldn't expect privacy once she doffed her top at Sean (Diddy) Combs' star-studded 2003 East Hampton White Party.
"Sean Combs and his renowned annual White Party are subjects of tremendous public interest, attracting the steady attention of the public and many news organizations," Ling-Cohan wrote."
See full article.
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Date: Wed, 24 Sep 2008 05:50:17 -0800
MSCI Barra and Morningstar have entered into an arrangement to calculate and distribute hedge fund indices jointly.
These indices and the Morningstar database will replace the current MSCI Hedge Fund Indices and Database after a brief transition period. MSCI Barra will continue to calculate and distribute the MSCI Investable Hedge Fund Indices and the Barra Hedge Fund Risk Model. Morningstar will continue to calculate and distribute its existing Morningstar Hedge Fund Indices, including the Morningstar® 1000 Hedge Fund Index.
The MSCI Hedge Fund Index Methodology uses primary and secondary hedge fund characteristics to build the indices based on investment process, asset class, geography, and Global Industry Classification Standard (GICS®) sectors. This granularity is unique among hedge fund indices and allows investors to benchmark precise investment opportunities. Morningstar collects 300 data points from 8,500 hedge funds and funds of hedge funds for its database including information about portfolio holdings, strategy allocation and hedging techniques.
See full article.
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Date: Sun, 21 Sep 2008 22:22:04 -0800
Interesting article here about Nigeria, and an inpending oil war.
I came across this interesting tidbit on a Lehman insider.
There are some common questions and answers here on the Future of Hedge Funds.
In order to calculate quantitative statistics automatically and generate printed marketing materials on the fly, this Hedge Fund Calculator may come in handy. The calculator also works great for fund of fund managers who need to input all of their underlying funds to come up with an instant net of fees calculation to show their clients.
Finally, WhiteRock Says Markets May Be Rollercoastering but Recruitment is Accelerating. "There's never been a better time to look for a job on Wall Street, or the Asian financial markets," says Gustavo Dolfino, founder and chief executive officer of WhiteRock Group. And amazingly, there's never been a better time to be looking for talent either."
To understand why the recruitment business is booming even as the industry appears to be retrenching, one must understand that the overheated markets of the past few years have actually made recruiting more difficult.
See full article.
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Date: Mon, 15 Sep 2008 10:30:23 -0800
West Palm Beach - Lehman Brothers, Wall Street's fourth biggest investment bank has filed for bankruptcy, making it the largest and highest-profile casualty of the global credit crisis, with approximately $639 billion in assets.
Investors in recent weeks had grown increasingly jittery about Lehman's $46 billion of mortgages and asset-backed securities, as well as its credit rating and its ability to raise capital.
Bankruptcy also represents a bad end to Chief Executive Dick Fuld's four-decade career at Lehman. Fuld, who piloted the investment bank through prior crises with aplomb, was widely seen as too slow to recognize Lehman's need to raise capital and shed bad assets.
More at; Lehman Goes Banktrupt in High Profile Casualty Case
See full article.
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Date: Mon, 15 Sep 2008 05:02:40 -0800
In a HedgeCo story, hedge fund advisor and manager American Pegasus LDG, LCC., is seeing the 36th subsequent month of positive returns for the Pegasus Auto Loan Fund, which invests in US subprime auto loans.
In the $200 billion auto industry there is high demand for auto loan originations." The Pegasus preformance sheet shows, "In 2005, 4.7% of U.S. workers used public transportation and 90% workers own a car; 1/3 households own > 1 car; Average 1.9 cars/household"
That number rises and falls with energy fluctuations, according to the Energy Information Administration, "Transportation costs have increased due to many factors related to travel and prices paid for transportation fuel, while being somewhat offset by improved fuel economy." But the numbers remain viable ant the US now has 765 motor vehicles per 1000 capita.
The American Pegasus Auto Loan Fund directly sources fully, collateralized sub prime US auto loans. Underwriting criteria is strictly enforced along with well designed risk controls.
See full article.
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Date: Fri, 12 Sep 2008 10:02:22 -0800
Hedge fund managers KP Securities and Sophia Capital Securities announced that they are joining forces, enhancing the 2 firms ability to raise capital for alternative investment managers. The transaction between the two firms was finalized on September 1, 2008.
The new combined company, Belvedere Global Investors LLC, is headquartered in Belvedere, California, a short distance from the San Francisco financial district. The company is a distribution boutique focused on alternative investments. It raises capital for investment manager clients that include hedge, private equity and venture capital funds and funds of funds, as well as for private companies seeking direct investments.
"This transaction will allow our team to continue deepening its geographic coverage of investing clients and fund managers, bringing under one roof a truly global collection of relationships", said Keith Pagan of KP Securities.
More at; KP Secutiries and Sophia Capital Join Forces to Raise Funds
See full article.
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Date: Thu, 11 Sep 2008 05:06:45 -0800
In a HedgeCo story, Venus Capital Management, Inc. has launched the Venus Index Plus Fund. The general objective of the Fund is to outperform the S&P CNX Nifty India Index without changing the weights in the Index.
Venus Capital, after conducting a detailed analysis of India-dedicated hedge funds, found that most India funds, both inside and outside of India, underperformed the S&P CNX Nifty India index on a risk-adjusted basis. They have high Beta with a low Sharpe ratio. This became even more evident this year when the Indian markets dropped approximately 40% and a typical India fund lost 40-55% in the first six months of the year. Venus has segregated Alpha from Beta and has products for investors seeking either. However, Venus feels that "2 and 20" fees should not be paid to obtain Beta and hence, have launched the flat fee Index fund.
More at; Hedge Fund Launches Venus Index Plus Fund
See full article.
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Date: Mon, 08 Sep 2008 10:03:26 -0800
TriAlpha recently a launched property hedge fund of hedge funds, the TriAlpha Global Property Strategy Fund in June this year.
The fund seeks absolute returns by focusing on hedge fund managers that specialise in the global property sector. In its first month the fund outperformed the FTSE EPRA Global Index by an estimated 11%. Included in the portfolio are recognised names such as Credit Suisse, Thames River and New Star Property hedge funds. Minimum investment for the TriAlpha Global Property Strategy Fund is $5 million (or equivalent).
"We are already seeing a high level of interest in the TriAlpha Global Property Strategy Fund and by having the fund available through Transact we are broadening the availability of this exciting new offering," commented Cobus Kruger, director at TriAlpha.
Trialpha's five sub funds of the 'TriAlpha Alternative Strategy Unit Trust' have been also approved as restricted recognised schemes for distribution in Singapore.
"With our roots in Stonehage (our private wealth management parent company,) we have extensive experience in dealing with and providing investment solutions to private clients."
Cobus Kruger, Director at TriAlpha, says, "Our hedge fund of funds products have been received well by these clients, fitting in neatly with their investment objectives and risk profiles. With increasing numbers of private banks in Singapore we believe that our hedge fund of funds products will be an appropriate solution for their clients."
The five absolute return funds offer investors a variety of risk profiles and investment strategies, the 'TriAlpha Relative Value Fund', which invests in market-neutral, multi-strategy event driven, multi-strategy arbitrage and option arbitrage; aims to achieve stable, absolute returns with volatility similar to the Citigroup World Government Bond Index.
More at; Hedge Fund TriAlpha Explores Diversified Fund Launches
See full article.
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Date: Fri, 05 Sep 2008 11:27:22 -0800
The Morgan Stanley Frontier Emerging Markets Fund, Inc. (the "Fund") has issued 7,100,000 shares of common stock at a price of $20 per share resulting in gross proceeds to the Fund of approximately $142,000,000. The Fund's shares began trading on August 25, 2008 on the New York Stock Exchange under the symbol "FFD."
The newly organized, non-diversified closed-end fund's investment objective is to seek long-term capital appreciation. "There can be no assurance that the Fund's investment objective will be achieved." Morgan Stanley said as the Fund's lead underwriter.
The Fund will seek to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in equity securities of companies operating in frontier emerging market countries.
 Frontier emerging market countries in which the Fund currently intends to invest include: Bahrain, Bangladesh, Botswana, Bulgaria, Croatia, Ecuador, Estonia, Ghana, Jamaica, Jordan, Kazakhstan, Kenya, Kuwait, Latvia, Lebanon, Lithuania, Macao, Mauritius, Namibia, Nigeria, Oman, Panama, Qatar, Romania, Saudi Arabia, Serbia, Slovenia, Sri Lanka, Trinidad and Tobago, Tunisia, Ukraine, United Arab Emirates and Vietnam.
More at; Morgan Stanley's Frontier Fund Issues Over 7 Million Shares
See full article.
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Date: Wed, 03 Sep 2008 03:10:10 -0800
100 Women in hedge funds is presenting Notre Dame's Scott Malpass to discuss how endowments approach investments and stay the course in these curious and uncertain times. The event is being held at the Chicago Mercantile Exchange in Chicago on September 4, 2008.
"Staying ahead of the curve is critical for endowments, as performance will affect future gifts and their ability to properly fulfill their obligations."
Scott C. Malpass is vice president and chief investment officer at the University of Notre Dame, responsible for investment of the University's endowment, working capital, pension and life income assets of almost $7 billion. The endowment of some $6.2 billion is the 14th largest in American higher education and the largest at a Catholic university.
More at;
Endowment Model Approach to Asset Allocation and Investment
Also some interesting stuff here on investing in Africa; Global Ethical Investing News & Commentary
See full article.
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Date: Tue, 02 Sep 2008 08:48:03 -0800
In a HedgeCo story, 'African Agricultural Land Fund Launch' - Emergent Asset Management launched the African Agricultural Land Fund in August 2008, with a second closing to take place in September 2008.
The fund has raised almost €2 billion already ($2.9 billion), and wants to raise a total of €3 billion and is canvassing a range of investors. Minimum investment size is €500,000 for private investors and €5m for institutional investors.
The African Land Fund will offer investors the opportunity to participate in the growing Sub-Saharan agricultural sector. It will apply modern management disciplines and introduce improved farmland techniques to increase crop yields and investment returns.
Initially, the investment focus will be in South Africa. The portfolio will be expanded within Africa to include (but not limited to) countries such as Botswana, Zambia, Mozambique, swaziland and the DRC.
See full article.
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Date: Mon, 01 Sep 2008 06:00:33 -0800
I found it quite difficult to find a hotspot in Copenhagen. I was actually off-line for 48 hours, the longest ever!
I'm back now after alot of photography and some interesting insights from some of the top players in the emerging frontier markets.
I'm hoping to recieve some tips and news of the launch (which is as of now, confidential) as it continues to play out.
There was also a jewelry heist on main street that our group witnessed, I'll post those on my Flickr site later today.
See full article.
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Date: Fri, 29 Aug 2008 02:41:07 -0800
Julie Scuderi writes; Harbinger Capital Partners is no stranger to aggressively seeking strategic changes within companies in which they invest. This month, it's Harbinger vs. Cleveland-Cliffs Inc. The mining company is urging shareholders to reject a bid by the activist hedge fund that would give them veto power over one of Cleveland-Cliffs proposed acquisitions.
Harbinger has made headlines recently for similar antics involving their other investments, including the New York Times and Media General. Harbinger was awarded two seats on the board of the Times, while acquiring three seats on Media General's board.
In order for the deal to take place, 66 percent of shareholders must approve the bid for Alpha. The vote is set to take place on October 3.
See full article.
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