Archive: 10/02/2007
Main News
Investor appetite for hedge funds which weathered this summer's market storms will be tested by the announcement of up to £300m ($612m) of new money raising by two listed funds which specialise in investing in the sector
Japan: The Postal Service, Privatization and Politics
http://www.stratfor.com/products/premium/read_article.php?id=296040
http://www.stratfor.com/products/premium/read_article.php?id=296040
BlueCrest boosts turnover and rising assets lift income
BlueCrest Capital Management, a UK hedge fund manager that closed a fund last month because of poor performance, boosted its turnover by 41% to £183m (?262m) last year.
http://mail2.efnmail.co.uk/r/317429/MTk4MTI1OjE1MjIy/
BlueCrest Capital Management, a UK hedge fund manager that closed a fund last month because of poor performance, boosted its turnover by 41% to £183m (?262m) last year.
http://mail2.efnmail.co.uk/r/317429/MTk4MTI1OjE1MjIy/
Pension chief urges caution on packaged LDI solutions
Philip Read, pensions manager at UK industrial group Metal Box, has questioned the value of packaged liability solutions.
http://mail2.efnmail.co.uk/r/317379/MTk4MTI1OjE1MjIy/
Philip Read, pensions manager at UK industrial group Metal Box, has questioned the value of packaged liability solutions.
http://mail2.efnmail.co.uk/r/317379/MTk4MTI1OjE1MjIy/
Changes in bank Individual Ratings due to the US subprime crisis and consequent global liquidity shock have been confined to a handful of banks in the US, Germany and the UK. Fitch believes fallout will remain contained and no BSI has been revised as a direct result.
Barron's Picks the Overachieving Hedge 50
Barron's - Monday October 01, 10:01
Barron's - Monday October 01, 10:01
News in brief: Edhec defends managers
Edhec, the French business school sponsored by hedge fund managers, said French President Nicolas Sarkozy and German Chancellor Angela Merkel were wrong to blame hedge funds for the credit crunch. It said the problem was a crisis of confidence in financial information and the market's capacity to evaluate the solvency of credit institutions. French regulations on the use of credit derivatives by investment funds had created a false sense of security for investors, and new international regulations would increase risks, Edhec said.
http://mail2.efnmail.co.uk/r/317382/MTk4MTI1OjE1MjIy/
Edhec, the French business school sponsored by hedge fund managers, said French President Nicolas Sarkozy and German Chancellor Angela Merkel were wrong to blame hedge funds for the credit crunch. It said the problem was a crisis of confidence in financial information and the market's capacity to evaluate the solvency of credit institutions. French regulations on the use of credit derivatives by investment funds had created a false sense of security for investors, and new international regulations would increase risks, Edhec said.
http://mail2.efnmail.co.uk/r/317382/MTk4MTI1OjE1MjIy/
Grosvenor puts greater focus on risk control
Jeremy Newsum, chief executive of international property group Grosvenor, knows he has his work cut out to satisfy its proprietor, the Duke of Westminster.
http://mail2.efnmail.co.uk/r/317386/MTk4MTI1OjE1MjIy/
Jeremy Newsum, chief executive of international property group Grosvenor, knows he has his work cut out to satisfy its proprietor, the Duke of Westminster.
http://mail2.efnmail.co.uk/r/317386/MTk4MTI1OjE1MjIy/
Dark pools of liquidity come into the light
Trading in dark liquidity pools may be touted as the next US trend to revolutionise the European equity market but the systems are only automating something European traders have been doing for years.
http://mail2.efnmail.co.uk/r/317451/MTk4MTI1OjE1MjIy/
Trading in dark liquidity pools may be touted as the next US trend to revolutionise the European equity market but the systems are only automating something European traders have been doing for years.
http://mail2.efnmail.co.uk/r/317451/MTk4MTI1OjE1MjIy/
High Performance
Source: Barron's Online
IF YOU DON'T BELIEVE US, just ask Bear Stearns chief James Cayne how tricky hedge-fund performance can be. Because a couple of his firm's funds got blindsided in August's subprime-mortgage panic, he's now spending time fending off speculation about the fate of his venerable investment bank. More... <http://www.hedgefund-index.com/newstoday.asp>
Source: Barron's Online
IF YOU DON'T BELIEVE US, just ask Bear Stearns chief James Cayne how tricky hedge-fund performance can be. Because a couple of his firm's funds got blindsided in August's subprime-mortgage panic, he's now spending time fending off speculation about the fate of his venerable investment bank. More... <http://www.hedgefund-index.com/newstoday.asp>
Perella Weinberg acquires hedge fund group
Financial Times Mon, 01 Oct 2007 2:57 PM PDT
Perella Weinberg Partners, the boutique investment bank based in New York and London, is expected on Tuesday to announce that it has acquired Xerion Capital Partners, a New York-based hedge fund group that specialises in distressed securities.
Financial Times Mon, 01 Oct 2007 2:57 PM PDT
Perella Weinberg Partners, the boutique investment bank based in New York and London, is expected on Tuesday to announce that it has acquired Xerion Capital Partners, a New York-based hedge fund group that specialises in distressed securities.
Billion Dollar Jayhawk Hedge Funds and Jayhawk Capital Management Sued for Conspiracy, Fraud, Fagelbaum & Heller ...
Business Wire via Yahoo! Finance Mon, 01 Oct 2007 6:00 AM PDT
SAN FRANCISCO----Four San Francisco-based hedge funds and the funds' general partner, Primarius Capital, have commenced arbitration against prominent hedge fund manager, former number one Goldman Sachs producer, and University of Kansas lecturer Kent C.
Business Wire via Yahoo! Finance Mon, 01 Oct 2007 6:00 AM PDT
SAN FRANCISCO----Four San Francisco-based hedge funds and the funds' general partner, Primarius Capital, have commenced arbitration against prominent hedge fund manager, former number one Goldman Sachs producer, and University of Kansas lecturer Kent C.
Twenty years after Black Monday — one of the largest stock market crashes in history — seasoned investors and economists say the industry has forgotten important lessons about the fickle nature of...
NEW YORK (HedgeWorld.com)—Morgan Stanley on Friday [Sept. 28] announced that it will issue a structured note pegged to the new Barron's 400 Index, which tracks 400 highly liquid stocks in the U. ......
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Yield Curve Corner
Why Bernanke Might Need India to `Do a China
Bloomberg - USA
Ben S. Bernanke should take note. The Federal Reserve chairman and his colleagues on the open market committee cut interest rates 50 basis points last month ...
See all stories on this topic
Bloomberg - USA
Ben S. Bernanke should take note. The Federal Reserve chairman and his colleagues on the open market committee cut interest rates 50 basis points last month ...
See all stories on this topic
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Natural Disaster Corner
Climate Prediction http://www.nws.noaa.gov/predictions.php
World Meterological Organization http://severe.worldweather.org/
Tornadoes: http://www.disastercenter.com/tornado.htm
Great Sat Pictures of events:
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Iranian Situation
Iran MPs warn over Benetton stores
AFP via Yahoo! News Mon, 01 Oct 2007 5:10 AM PDT
A group of prominent MPs have warned over the presence of Italian clothing retailer Benetton in Iran, saying its fashions are a bad influence on female consumers, newspapers said on Monday.
AFP via Yahoo! News Mon, 01 Oct 2007 5:10 AM PDT
A group of prominent MPs have warned over the presence of Italian clothing retailer Benetton in Iran, saying its fashions are a bad influence on female consumers, newspapers said on Monday.
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Opalesque’s Corner
- Hardy hedge funds: £300m of new money to be raised by Cazenove and Dexion via C share issues, Goldman makes $370m after saving its black box hedge fund, Australia-based Oceanic to tap into the boom in global commodity prices
- Basis plans to split struggling hedge fund
- Hedge funds stage recovery with September returns up 0.85%, Hedge fund assets soar to almost $2,500bn says HFI
- Investment star Bill Miller revises strategy, includes alternatives
- Insurers feel the pinch of diminished alternatives returns
- Barron`s first ranking of the world`s best-performing hedge funds
- Larry Fink completes purchase of Quellos in response to growing demand for multi-asset products
- Harry Kat rebuts ten most heard criticisms to his Fundcreator approach
- Current research in alternative investments - Momentum in asset returns: Are commodity returns a special case?
- FT reports: The determined march of alternative investments into the mainstream, Barring investors with less than $2.5m from hedge funds is nonsense, Rapid growth of use of derivatives is a risk for custodians, Hedge funds reassess administrators` value-add, not quite `commoditised` yet
- Factor exposures and hedge fund operational risk: The case of Amaranth
- Merlin Securities ranked #1 prime broker for single strategy hedge funds
- Ernst & Young pension scheme tilts to alternatives, Gottex gets new UK GBP100m mandate, wins over 51 applicants, Gottex gets new UK GBP100m mandate, wins over 51 applicants
- New, acceptable faces of investment: how can respectable names can help hedge funds with introductions, Meet the hedge fund historian
- Tribeca chief Gay Huey Evans stays at Citi, GSAM hires Andre Du Plessis as co-head of global manager strategies international and head of fiduciary business, EMEA, Barings: Marino Valensise takes over as CIO, Alan Wilde assumes leadership o the fixed income team
- FT report: 130/30 funds falling short of promise
- UBS latest victim of credit turmoil, UBS to report $3.41 billion loss tied to credit woes, Huw Jenkins, CEO of UBS Investment Bank, leaves
- Backlog of US leveraged loans begins to clear
- Excessive mortgage defaults causes NetBank shutdown, ING takes over, US buyout firms eye UK mortgage company Northern Rock, Subprime shockwaves still felt in the banking sector, still $200bln of undeclared losses? Squeeze could cost City of London $800m
- Clean energy will be the next big thing, VC deals achieve 50% return; Commodities post biggest monthly gain in 32 years; Wheat market triggers trading limits, Wheat now featured in Opalesque Technical Research Briefing, Interview on gold with John Hathaway, Toqueville Asset Management
- U.S. Futures Exchange (USFE) offers cash-settled futures contracts on nine Morningstar Style Box indexes, Euronext exec sees four exchange networks emerging, HK exchange boasts largest market cap
- Senate may prevent offshore hedge funds from sidestepping withholding taxes
- Jersey: A hedge fund haven makes its rules even lighter
- Partners Group forms JV with Poli E Associati to create alternative investments product platform in Italy
- Germany: No new hedge fund proposal at G7, sees intensive talks
- Deutsche Bank in Singapore move
- Activist News: Centaurus in favour of OMV`s bid for Mol
- News Briefs: CalPERS puts up to $1bln in Asian real estate, Robin Hood stages comedy event, aims to help homeless in NYC, Making the ABN numbers work will be tricky, Dr. Dominic O`Kane joins EDHEC as affiliated professor, HSBC first global bank to get U.A.E. share dealing license, Chinese domestic banks remain banned from trading in offshore yuan derivatives, Lehman says to start forex operation from Singapore, Create jobs or create extremists, says Arab minister
- . And Finally: Man uses demolition derby car to propose
- Logon: http://www.opalesque.com/main.php?act=archive
- Basis plans to split struggling hedge fund
- Hedge funds stage recovery with September returns up 0.85%, Hedge fund assets soar to almost $2,500bn says HFI
- Investment star Bill Miller revises strategy, includes alternatives
- Insurers feel the pinch of diminished alternatives returns
- Barron`s first ranking of the world`s best-performing hedge funds
- Larry Fink completes purchase of Quellos in response to growing demand for multi-asset products
- Harry Kat rebuts ten most heard criticisms to his Fundcreator approach
- Current research in alternative investments - Momentum in asset returns: Are commodity returns a special case?
- FT reports: The determined march of alternative investments into the mainstream, Barring investors with less than $2.5m from hedge funds is nonsense, Rapid growth of use of derivatives is a risk for custodians, Hedge funds reassess administrators` value-add, not quite `commoditised` yet
- Factor exposures and hedge fund operational risk: The case of Amaranth
- Merlin Securities ranked #1 prime broker for single strategy hedge funds
- Ernst & Young pension scheme tilts to alternatives, Gottex gets new UK GBP100m mandate, wins over 51 applicants, Gottex gets new UK GBP100m mandate, wins over 51 applicants
- New, acceptable faces of investment: how can respectable names can help hedge funds with introductions, Meet the hedge fund historian
- Tribeca chief Gay Huey Evans stays at Citi, GSAM hires Andre Du Plessis as co-head of global manager strategies international and head of fiduciary business, EMEA, Barings: Marino Valensise takes over as CIO, Alan Wilde assumes leadership o the fixed income team
- FT report: 130/30 funds falling short of promise
- UBS latest victim of credit turmoil, UBS to report $3.41 billion loss tied to credit woes, Huw Jenkins, CEO of UBS Investment Bank, leaves
- Backlog of US leveraged loans begins to clear
- Excessive mortgage defaults causes NetBank shutdown, ING takes over, US buyout firms eye UK mortgage company Northern Rock, Subprime shockwaves still felt in the banking sector, still $200bln of undeclared losses? Squeeze could cost City of London $800m
- Clean energy will be the next big thing, VC deals achieve 50% return; Commodities post biggest monthly gain in 32 years; Wheat market triggers trading limits, Wheat now featured in Opalesque Technical Research Briefing, Interview on gold with John Hathaway, Toqueville Asset Management
- U.S. Futures Exchange (USFE) offers cash-settled futures contracts on nine Morningstar Style Box indexes, Euronext exec sees four exchange networks emerging, HK exchange boasts largest market cap
- Senate may prevent offshore hedge funds from sidestepping withholding taxes
- Jersey: A hedge fund haven makes its rules even lighter
- Partners Group forms JV with Poli E Associati to create alternative investments product platform in Italy
- Germany: No new hedge fund proposal at G7, sees intensive talks
- Deutsche Bank in Singapore move
- Activist News: Centaurus in favour of OMV`s bid for Mol
- News Briefs: CalPERS puts up to $1bln in Asian real estate, Robin Hood stages comedy event, aims to help homeless in NYC, Making the ABN numbers work will be tricky, Dr. Dominic O`Kane joins EDHEC as affiliated professor, HSBC first global bank to get U.A.E. share dealing license, Chinese domestic banks remain banned from trading in offshore yuan derivatives, Lehman says to start forex operation from Singapore, Create jobs or create extremists, says Arab minister
- . And Finally: Man uses demolition derby car to propose
- Logon: http://www.opalesque.com/main.php?act=archive
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Misc. Items of Interest
Free Foreclosure Solutions Booklet From Law Professor May Help Save 2.2 Million Homeowners From Foreclosure!
By Market Wire
10/1/2007 8:01:56 AM
By Market Wire
10/1/2007 8:01:56 AM
Believer in organic growth explains acquisitions and single culture stance -- [at FT.com]
By Pauline Skypala FT.com
10/1/2007 7:35:16 AM
By Pauline Skypala FT.com
10/1/2007 7:35:16 AM
GLOBAL - Goldman Sachs Asset Management (GSAM) has appointed Andre du Plessis as co-head of its global manager strategies (GMS) business and head of fiduciary business, EMEA.
New Jersey tries on separates
http://www.ipe.com/realestate/New_Jersey_tries_on_separates_25478.php
http://www.ipe.com/realestate/New_Jersey_tries_on_separates_25478.php
Another Leveraged Buyout Falls Apart
Two private equity firms back out of a deal to acquire data-management firm Acxiom for $3 billion. Read More
Two private equity firms back out of a deal to acquire data-management firm Acxiom for $3 billion. Read More
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Funnies, Facts, Quotes, etc….
1982: Congress established the U.S. Claims Court (now the U.S. Court of Federal Claims) to handle cases in which the United States is a defendant.
1960: Nigeria gained its independence from Britain but remained a member of the Commonwealth.
1946: The verdict was handed down on 22 of the original 24 defendants in the Nürnberg trials, a series of trials held after World War II in which the International Military Tribunal indicted and tried former Nazi leaders as war criminals.
1936: Francisco Franco became head of the new Nationalist regime of Spain at the beginning of the Spanish Civil War.
1800: Napoleon induced a reluctant King Charles IV of Spain to cede Louisiana back to France.
331: Alexander the Great of Macedonia defeated Darius III of Persia at the Battle of Gaugamela, spelling the end of the Persian empire.
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Conference, Courses, Books, Papers
Great Research Sites:
Merrill Lynch research Link to full report including important disclosures see example
John Mauldin’s Weekly Analysis
James Altucher’s Website:
Other useful sites:
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Index Corner
The CSFB/Tremont Hedge Fund Index www.hedgeindex.com.
The Cogent Dynamic Averages http://www.cogenthedge.com/home/inv_strategy.asphttp://www.cogenthedge.com/home/inv_strategy.asp
The Dow Jones Indices: http://www.djhedgefundindexes.com/index.cfm?event=viewPremiumContent (free registration)
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Regulatory Info
investor.info@sfc.hkhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.htmlhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.htmlhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.html
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Disclaimer
The information contained in this document does not constitute an offer or solicitation to sell any security or other type of vehicles to or by anyone in any jurisdictions, nor should it be regarded as a contractual document. Under no circumstances should the information provided on this document be considered as financial advice, or as a sufficient basis on which to make investment decisions. The information contained herein has been gathered by Investor DNA, LLC from sources deemed reliable as of the date of publication, but no warranty of accuracy or completeness is given. Investor DNA, LLC is not responsible for and provides no guarantee with respect to any of the information provided herein or through the use of any hypertext link. Past results are no indication of future performance. All information in this newsletter is for educational and informational purposes and does not constitute investment, legal, tax or accounting advice. All materials are the property of the
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