Fri, Oct 9, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Opalesque Roundup: Banks helped hedge fund avoid $8bn in taxes: hedge fund news, week 31

Monday, July 28, 2014

In the week ending 25 July, 2014, legal reports said Deutsche Bank and Barclays Bank are accused of helping hedge funds avoid paying more than $8bn in taxes by selling them “basket options"; Peter Brown testified that the complex financial instruments has helped Renaissance Technologies claim billions in tax savings; legal experts said the acquittal of Rengan Rajaratnam limits the power of the insider trading law; BlueMountain Capital has joined the legal fight against Puerto Rico’s new debt-restructuring law; federal judge Thomas Griesa urged both Argentina and hedge funds to avoid default; and U.S. District Judge Ronald Guzmán has refused to overturn the conviction of Eric Bloom.

TLC Capital said it was preparing the launch of new option-hedge market neutral fund Salvus Hedged Yield Fund; Davidson Kempner said he was preparing to launch a long-only distressed credit fund; and European Credit focused asset management firm LNG Capital announced the launch of LNG FX fund; Insparo Asset Management has launched Africa Fixed Income Fund.

Funds of hedge funds are reporting positive performance after evolving into a different breed; a Preqin study showed hedge fund returns are slowly bouncing back; Chrispin Odey continues to struggle in 2014 as his European fund was down 12.5% YTD; Lone Pine’s Steve Mandel also continued to experience......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - AQR Capital and Renaissance Technologies raise stakes in Southwest Airlines[more]

    From In the previous part of this series, we saw how institutional investors played Southwest Airlines (LUV) in 2Q15. Now let’s move on to the trades executed by key hedge funds in Southwest Airlines over the same period. … Most of the hedge funds that had significant exposu

  2. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  3. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  4. Hedge fund Barnegat survives September’s market selloff[more]

    Komfie Manalo, Opalesque Asia: Bob Treue’s $679 million Barnegat Fund proved resilient after another month of market letdown as the hedge fund gained 2.2% last month, bringing its year-to-date gains to 2.8%. Treue said in his monthly report to i

  5. …And Finally - Japanese men want upgrade on their virtual girlfriends[more]

    From Five years after News of the Weird mentioned it, Japan's Love Plus virtual-girlfriend app is more popular than ever, serving a growing segment of the country's lonely males -- those beyond peak marital years and resigned to artificial "relationships." Love Plus models (Rinko