Court upheld Rajat Gupta’s insider trading conviction and prison sentence... [more]Komfie Manalo, Opalesque Asia: U.S. District Judge Jed Rakoff on Thursday upheld the two-year prison term against former Goldman Sachs Group director Rajat Gupta and rejected his appeal to dismiss his insider-trading conviction by a New York federal jury in 2012.
The 66-year-old Gupta asked t
Strong returns to push demand for hedge funds... [more]Komfie Manalo, Opalesque Asia: The strong returns of hedge funds in the first half of 2015 is seen to attract billions of dollars of new money into the industry in the next six months despite some fund managers sustaining losses from the Greek debt problem last June, Peter Laurelli,
Hedge funds decline in June as stocks tumble on Greek woes... [more]From Bloomberg.com: Hedge funds posted losses across strategies last month as uncertainty over whether Greece will remain in the euro sent global stock markets tumbling. Winton Capital Management declined about 3.1 percent in June in its $12.1 billion Winton Futures Fund, leaving it down 1.9 percent
Regulatory - Untangling the FATCA web for hedge funds... [more]From Thinkadvisor.com: After a four-year ramp up, America’s far-reaching tax law, FATCA – the Foreign Account Tax Compliance Act (enacted in 2010) – is now in full effect. With over 60 countries (including, most recently, the Vatican) having signed an agreement with the United States related to the
Europe - Europe's fund expenses at a crossroads... [more]By improving the efficiency of its distribution supply chain, Europe’s cross-border fund industry could reduce distribution costs by up to 70 percent, according to the new Deloitte Luxembourg and Fundsquare study Europe’s fund expenses at a crossroads: The benefits of mutualizing the cost of distrib
Asia - China sovereign fund returns drop on dollar, commodities... [more]From Bloomberg.com: China Investment Corp., the nation’s $740 billion sovereign wealth fund, said returns on its overseas investments fell for a second year as a strong dollar and weak commodity prices eroded the value of its portfolio.
The return dropped to 5.47 percent last year from 9.33 pe
People - Glencore hires oil fund managers as Wall St. financiers retreat... [more]From Bloomberg.com: Glencore has beefed up its derivatives oil trading by hiring the founders of two hedge funds, another sign that commodity trading houses are benefiting from the retreat of Wall Street financiers from natural resources. Glencore has hired Jean Bourlot, who founded commodity hedge
Activist News - U.S. chamber forms coalition to fend off activist hedge funds... [more]From Bloomberg.com: Corporations are turning to the nation’s biggest business lobby to help fend off activist investors such as Dan Loeb and Bill Ackman. The U.S. Chamber of Commerce is forming a coalition to make sure “long-term value creation” drives public companies’ decisions, according to a let
Newalpha and Emergence invest EUR 35m in Finaltis' efficient beta strategy... [more]NewAlpha Asset Management (NewAlpha), the Paris-based global emerging manager acceleration specialist and Emergence (Emergence), France's seeding fund sponsored by 15 institutional investors have announce a strategic investment with Finaltis (Finaltis).
With 35 million euros provided by Emer
…And Finally - Don’t argue with your wife while driving... [more]From NewsoftheWeird.com: "(J)ust one of those spur-of-the-moment crazy things," explained John Paul Jones Jr., in May after he had intentionally driven his pickup truck through his living room in Senoia, Georgia.
He told a reporter that he had been on the phone with his wife and gotten angry,