Opalesque Exclusive: Credit hedge funds continue rally - Millstreet up 3.99%... [more]Bailey McCann, Opalesque New York: Millstreet Capital Management has posted a positive quarterly return for its credit fund - Millstreet Credit Fund. The fund generated a net return of 3.99% for the quarter, and monthly returns of +1.34% net in April, +1.08% net in May, and +1.52% net in June. Y
Fund marketing without a passport under the AIFMD... [more]Komfie Manalo, Opalesque Asia: As the Alternative Investment Managers Directive (AIFMD) transitional period comes to an end on 22 July 2014, most European countries have now transposed to the new rule, according to the latest briefing released by international law firm Clifford Chance.
Julius Baer acquires assets from Israel’s Bank Leumi... [more]Bailey McCann, Opalesque New York: On the heels of news that Swiss bank Julius Baer is likely to come to a settlement with US regulators after charges that the bank helped US citizens evade their taxes, the bank has announced plans to acquire Israel’s Bank Leumi. Julius Baer CEO Boris Collardi
EY buys Parthenon Group consultants... [more]Bailey McCann, Opalesque New York: Ernst & Young will buy the Parthenon Group, a global strategic consulting firm to expand its consulting services footprint. Parthenon is one of the top ten management consultants in the world, and will expand E&Y's offering to include consulting services acr
LNG Capital launches LNG FX fund... [more]Komfie Manalo, Opalesque Asia: London based European Credit focused asset management firm LNG Capital announced the launch of LNG FX fund.
LNG founder and chief executive officer Louis Gargour said the strategy is an activel
SS&C GlobeOp Forward Redemption Indicator fell to 3.15% in July... [more]Investor demand to pull money out from hedge funds dropped to a six-month low in July, following portfolio adjustments during the previous month, data released on Monday showed.
The SS&C GlobeOp Forward Redemption Indicator, a monthly snapshot of hedge fund clients giving notice to withdraw th
Barclay CTA Index Gains 0.63% in June; (+0.65% YTD)... [more]Managed futures gained 0.63% in June according to the Barclay CTA Index compiled by BarclayHedge. The Index is now up 0.65% at mid-year. “The US Federal Reserve and Bank of England announced that interest rates will be rising soon, while the European Central Bank reaffirmed its commitment to low int
Short-sellers target minings services and biotechs... [more]From SMH.com.au: Mining services and biotechnology companies remain among the most heavily shorted stocks in the Australian market.
Hedge funds have increasingly targeted hearing-aid manufacturer Cochlear, with around 18 per cent of its stock shorted as of July 16, data from the Australian Sec
Legal – Hedge funds escaped billions in taxes... [more]From USAtoday.com: Two large banks used a complex financial scheme to help 13 hedge funds avoid paying billions of dollars in taxes and evade federal borrowing limits on brokerage accounts over a 15-year period, according to the findings of a Senate subcommittee investigation. Deutsche Bank and Barc
People – Atlanta Capital Group names Greg Silberman CIO... [more]From Bizjournals.com: Atlanta Capital Group has hired former Wilmington Trust Director of Alternative Investments Greg Silberman as chief investment officer.
Silberman is a chartered financial analyst, a chartered alternative investment analyst and a chartered accountant in South Africa. At Wi
…And Finally – Florida airport staff get lesson in nation's geography... [more]From Reuters.com: Federal security officers at Orlando International Airport were getting a geography lesson this week after one failed to recognize the nation’s capital as part of the United States.
The incident occurred over the weekend at the airport security checkpoint when an officer for