Dutch pension PMT to divest hedge fund holdings... [more]Bailey McCann, Opalesque New York: Dutch pension - PMT, the €55bn fund for metal workers is divesting all of its hedge fund portfolio. The pension says hedge funds are too expensive and is going into residential mortgages. The pension had a €1bn hedge fund allocation.The announcement comes on th
Financial elite's offspring start their own hedge funds... [more]From WSJ.com: For the young man who has everything: a hedge fund of his very own. The scions of a number of wealthy families, including the sons of prominent Wall Street figures Howard Marks and Ken Moelis, have either recently launched hedge funds or plan to do so soon, according to people familiar
Manager Profile - You too can clone Bill Ackman without buying his new fund... [more]From Bloomberg.com: Billionaire activist Bill Ackman’s three-year pursuit of a European initial public offering may appeal to institutions seeking greater liquidity and affluent individuals shut out of many U.S. hedge funds. Yet as even Ackman has suggested, investors might do better replicating him
Europe - Hedge funds caught in Iceland’s failed banks closer to pay date... [more]From Bloomberg.com: Hedge funds caught in Iceland’s $85 billion banking failure may be closer to getting repaid. The administrators overseeing claims against bankrupt lender Glitnir Bank hf say there are signs recent talks with a government committee will make it easier to complete creditor settleme
Asia - Hedge funds drawn to Shanghai-Hong Kong link, Goldman Sachs says... [more]From Businessweek.com: Hedge funds may drive initial demand for Shanghai-listed stocks through a linkage of the city’s bourse with that in Hong Kong, which opens up a new route for foreign investors to buy Chinese shares, according to Goldman Sachs Group Inc.
The link will tap into pent-up dem
…And Finally - Insurance for every needs... [more]From Newsoftheweird.com: China's insurance companies offer some of the world's quirkiest policies, according to a September Reuters dispatch from Hong Kong. People's Insurance Group, for example, will pay out in case a customer's children display disappointingly "mischievous and destructive" habits.