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Alternative Market Briefing

Hedge fund Elliott Associates prepares for fresh market turbulence

Friday, July 31, 2015

Komfie Manalo, Opalesque Asia:

The $72 billion hedge fund Elliott Associates, which is run by Paul Singer is preparing for the next market turbulence on concerns about the European central banks’ easy money policy and told investors that governments that "abused the power to create 'money' have always, eventually, paid a huge price for their profligacy."

The letter to investors were sent on July 23, Reuters said, as Singer told his clients that the hedge fund firm returned 2.8% in its Elliott Associates, and 2.2% in its Elliott International Limited.

The letter said, "We are not bragging about our record, nor do we feel defensive about not keeping up with the S&P 500 in the last few years," and added that the fund is expecting severe market turmoil and will try to invest more prudently. "The bottom line in our view is that Europe is in a very difficult situation," it said.

Elliott cited the European Union’s solution to the recent Greek crisis, which it described as not addressing the long-term concerns that might result to the "the breakup of the euro."

The hedge fund said if finds "attractive opportunities in the activist equity area and a few interesting situations in event arbitrage."

Citrix is feeling pressure from Elliott

On Tuesday, Citrix Systems ......................

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