Dubai changes regulations to attract asset managers, private funds... [more]Bailey McCann, Opalesque New York: Dubai is changing its financial regulatory scheme in an effort to lure asset managers and private funds to the country. Reports emerged today that Dubai regulators are floating proposals that would allow funds to be domiciled in the Dubai International Financial
Equity Long/Short hedge funds suffer as European stocks retreat... [more]From Valuewalk.com: When hedge funds are having a bad run, mid-sized funds tend to perform comparatively better than their bigger counterparts. However, this was not the case in July, when it seems that every fund lost its footing. According to Eurekahedge, the average hedge fund was down .12% over
Asia’s best-performing macro hedge fund Quantedge Global hits $1bn mark... [more]From Bloomberg.com: Quantedge Global Fund, Asia’s best-performing macro hedge fund, said it has increased its assets to more than $1 billion, joining the ranks of the region’s biggest funds. Quantedge, which started with $3 million in October 2006, has increased its assets under management to $1.05
Exchange-traded fund accentuates merger arbitrage highs, and lows... [more]From Reuters.com: For merger arbitrage funds playing this year's hot deal-making market, one exchange-traded fund has pulled ahead - on the upside and the downside. With a 3.5 percent year-to-date return, the IndexIQ Merger Arbitrage ETF, or MNA, is handily beating its actively managed mutual fund p
Investors dine on fresh menu of credit derivatives... [more]From FT.com: In March of last year, Kyle Bass, founder of the hedge fund Hayman Capital Management, made a startling proclamation: aggressive young bankers in Japan were pushing complex over-the-counter derivatives similar to those that rapidly soured during the financial crisis of 2008. Mr Bass war
Studies – Hedge fund managers who trade more outperform... [more]From Thegloberandmail.com: A handful of very active hedge fund managers can outperform the rest, says a new discussion paper that should give much-maligned hedge fund managers a lift.
In a study published Monday by the Board of Governors of the U.S. Federal Reserve, Vassar University economist
Comment – Deconstructing management fees in alternative funds... [more]From Forbes.com: Without a doubt, money is the primary driving factor in private equity and hedge funds. Lucrative fees are paid to talented fund managers by investors eager to earn high returns on their investments. Although much attention is paid to the 20% incentive allocation paid to successful
Legal – Ponzi 'feeder' admits $20m role in Scott Rothstein fraud... [more]From Orlandosentinel.com: A Broward County man pleaded guilty to his role in Scott Rothstein's $1.4 billion Ponzi scheme Tuesday in federal court. After some last-minute hesitation, Frank Preve, 70, of Coral Springs, pleaded guilty to one count of conspiracy to commit wire fraud. Preve, who worked w
North America – U.S. hedge funds hunting for value in Canada’s oil patch... [more]From Financialpost.com: Hedge funds, mostly American, seem to have their fingerprints all over the Canadian oil patch these days. They are hunting for value in the Canadian sector, where stocks are on the rebound after lagging their U.S. counterparts for years.
“The energy space has underperfo
People – Northern Trust hires two for hedge funds-of-funds unit... [more]From PIonline.com: Tristan Thomas and Greg Jones joined the hedge funds-of-funds unit of Northern Trust Asset Management.
Mr. Thomas is director of portfolio strategy, responsible for hedge funds-of-funds portfolio construction and monitoring as well as the development of customized hedge fund-o
News Briefs – Anticipated rates rise drives insurers into alternatives... [more]New research from Boston-based global analytics firm Cerulli Associates finds that insurance general accounts' increasing usage of alternative investments is accelerated by the anticipated rise of interest rates. “Although they comprise a relatively small portion of total assets, large insurance com
…And Finally – Least competent law enforcement... [more]From Newsoftheweird.com: The Clay County (Florida) Sheriff's Office twice this year arrested the wrong Ashley Chiasson -- in January (for grand theft) and in May (writing bad checks) -- despite three years, five inches, 20 pounds and distinctive middle names separating them (Ashley Odessa, the suspe