Opalesque Exclusive: Hedge fund replicators evolve... [more]Bailey McCann, Opalesque New York: Hedge fund replicators as a group of products tend to get a bad rap from hedge fund managers who suggest that the best a replicator can offer is dynamic beta capture. A
Opalesque Exclusive: PIMCO alums launch unconstrained credit fund... [more]Bailey McCann, Opalesque New York: The original architects of PIMCO's Unconstrained Bond Fund have teamed up for a new unconstrained fund utilizing their existing experience and best new ideas. The Anfield Universal Fixed Income Fund (AFLIX), takes a "go anywhere" approach to managing fixed i
Royal Bank of Canada to turn proprietary-trading arm into hedge fund... [more]From WSJ.com: The Royal Bank of Canada RY.T +0.10% is planning to close one of the last proprietary-trading desks on Wall Street, another win for regulators that have pushed banks to cut back on making big bets with their own money.
RBC, Canada's second-largest bank by assets, plans to spin of
Bill Ackman adversary John Hempton falls off Herba-cliff... [more]From NYPost.com: An obscure Australian hedge fund manager who last year became a media darling with his acerbic attacks on Bill Ackman’s $1 billion Herbalife short is now sobbing to his investors about losing money. “Things that should work are not working,” John Hempton of Bronte Capital bemoaned t
Hedge Fund Standards board launches toolbox to aid hedge fund managers and investors... [more]The Hedge Fund Standards Board (HFSB) has launched a new Toolbox to provide guidance to managers and investors on issues relating to fund manager governance and internal processes.
The Toolbox will take the form of series of briefings on key issues. The first provides a Standardised Board Agenda
Aviva to exit from South Korean Life joint venture... [more]From International-adviser.com: Woori Financial Holdings Company, South Korea’s first financial holding company owns a majority stake in the life insurance joint venture company that was formed with Aviva in 2008. Aviva said its exit from the venture is part of a strategy to focus on markets where i
Larger, older, richer: Asset managers are the new banks... [more]From Businessweek.com: One of the more disquieting parts of covering banking regulation is how often, in an interview, either a regulator or a banker will say something like this: Regulators have to treat banks with some respect. If they clamp down too hard, the money will go somewhere else, to a pl
Largest hedge funds vulnerable to 2008 repeat... [more]From Risk.net: The portfolio of the 30 largest hedge funds would stand to lose 4.6% of its value in a month, if market stresses similar to those during the heart of the 2008 financial crisis were to repeat, far surpassing losses seen in other historical stress scenarios. The decline is similar to wh
Manager Profile – Nikko Asset Management head Takumi Shibata courts global institutions... [more]From Institutionalinvestor.com: Having survived the fallout from one of Japan’s most notable financial conquests, Takumi Shibata has returned to the heights of power. Now president and CEO of Nikko Asset Management Co., the nation’s third-largest fund manager, he’s keen to take on the world again.
Legal – Australian tax ruling targets offshore hedge funds for capital gains tax... [more]From Risk.net: Offshore hedge funds could face higher tax bills in coming years after the Australian Taxation Office (ATO) won an important legal battle against a Cayman Islands fund last week. The Federal Court of Australia ruled that Resource Capital Funds, a mining-focused private equity firm dom
People – UBS’s Rajeev Misra said to plan move to Fortress hedge fund... [more]From Bloomberg/Swissinfo.ch: Rajeev Misra, UBS AG’s former co- head of fixed-income, is preparing to leave the Swiss bank for Fortress Investment Group LLC, two people with knowledge of the matter said.
Misra, who has served as a senior adviser to UBS’s executive board since June, is poised to
…And Finally – New Jersey dog called for jury duty in Cumberland County... [more]From BizarreNews.com: Talk about barking up the wrong tree... A New Jersey man checked his mail last week and found a jury summons -- that was addressed to his dog. The notice from the Cumberland County Clerk of Courts was addressed to Barrett Griner's 5-year-old German shepherd, IV.
"I got t
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Benedicte Gravrand, Opalesque Geneva: As frontier markets continue to outperform emerging markets, a fund manager, who is riding this promising wave by investing in African equities, explains what is driving economic growth in Africa (excluding South Africa), and gives a short and long term outlook ..
