Man Group profits fell in 1H as assets also decline... [more]Komfie Manalo, Opalesque Asia: Man Group, the world’s largest listed hedge fund firm, reported a decline in profits and assets in the first half of this year, ahead of the departure of Manny Roman as chief executive officer.
Investors pull a record $20.7bn from hedge funds in June... [more]Bailey McCann, Opalesque New York: Global hedge fund assets dropped below $3 trillion again – to $2.99 trillion – as investors withdrew $20.7 billion from the industry, according to the June eVestment Hedge Fund Asset Flows report. June redemptions were the largest June since eVestment began trac
Financial industry expects only moderate changes after Brexit - survey... [more]Bailey McCann, Opalesque New York: Law firm Laven Partners released a new survey today examining how financial firms expect Brexit to play out. The survey includes 76 responses, spread across out the UK (42% of respondents), Ireland (8%), Hong Kong (7%) and the US (12%) and a few more. The variet
APS Greater China Long Short Fund outperforms benchmark in 2Q... [more]Komfie Manalo, Opalesque Asia: Singapore-based fund management firm APS Asset Management Pte Ltd., said that its APS Greater China Long Short Fund outperformed its benchmark and was up 2.14% net in 2Q 2016 (+3.12% MTD and -10.68% net YTD). The fund
Seeding hedge funds increases during malaise... [more]From Valuewalk.com: Investors pulled $21 billion in June from hedge fund managers, with those most impacted falling in the equity long / short category, a Bloomberg Brief report pointed out. With hedge funds in a drawdown, now is that time that “cubs” are emerging from under the wings of larger mana
Prudential says be choosy to avoid hedge fund mediocrity risk... [more]From Bloomberg.com: Prudential Financial Inc.’s $1 trillion asset-management unit, PGIM, is telling investors to stay away from some hedge fund strategies because returns don’t justify their high fees. Funds of funds and equity hedge funds often track larger markets and run a risk of “mediocrity” in
Asia - Smaller hedge funds make headway in Korea... [more]From Koreaherald.com: Smaller and new hedge funds are making headway in South Korea, rising to rival those operated by large financial companies.
According to industry sources, Anda Asset Management has attracted 288.3 billion won (US$254.41 million) over the past year to become the country’s
Investing - Steven A. Cohen’s newest bet: Do-it-yourself computer traders... [more]From WSJ.com: Steven A. Cohen is betting as much as a quarter billion dollars that mechanical engineers and nuclear scientists can come up with market-beating mathematical models in their spare time. The investment of as much as $250 million will go to a hedge fund launched by Boston investment firm
…And Finally - Revenge! Telemarketing firm may face $1.9 trillion fine... [more]In a June verdict still reverberating through the telemarketing industry, a jury in Utah found that three companies run by Forrest Baker III had illegally made 99 million phone calls to consumers on the Do Not Call Registry and an additional 18 million calls telling people they were merely doing sur