Macquarie Group (ASX:MQG) Profits Fall By 43%
Selling stuff you bought with borrowed money is a process that’s mostly been confined to the financial markets in 2008 ... one was the 43% decline in income from asset and equity investments. There were some strange assets ... mortgages and fund management assets. It did not, however, take any write downs on Macquarie Airports [more...]
Date: 2008-11-19 17:05:14
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Mean Street: The Secret of My Investing Success
The most skeptical investors I ever met were Wall Street equity capital market professionals– the ones responsible for pricing IPOs ... and two funds managed for Vanguard by Primecap, a West Coast asset manager. Some Vanguard investors ... does an active management skeptic like me outperform with index funds? Mostly luck in allocation [more...]
Date: 2008-06-05 12:31:06
Recap of the 2nd Annual Hedge Fund Activism & Shareholder Value Summit
Last week more than 20 activist investors, who collectively manage about $50 Billion in assets ( ... Mountain Capital, NewCastle Management, Oliver Press, RLR Capital, Sandell Asset Management, Shamrock ... industry-wide consolidation.Bruce Richards, a keynote speaker from Marathon Asset Management [more...]
Date: 2008-10-01 15:58:00
in Investing With everyone tsk-tsking the Madoff scandal -- the amount lost, the after-the-fact obviousness, ... -- at least, when compared with the heavy lifting of equity research. The asset management ... assets group, private wealth management, (even retail brokerage) have access to these funds [more...]
Date: 2009-01-10 18:32:35
An Example of the Perils of Tactical Asset Allocation
Reading through the Management Discussion of Fund Performance for the Accumulus Talisman Fund reveals a textbook example of a major problem with tactical asset allocation: your call might eventually prove to be the right one but the market ... index futures contracts to freeze the Fund’s asset value until we could determine whether [more...]
Date: 2009-01-14 14:20:43
10 Russian start-ups that rocked the web in 2008
It’s the most wonderful time of the year, especially when you’re a web professional. Not reindeers, but lists keep flying around your head ... and content production, raised $8 million from Moscow Venture Fund (Allianz Rosno Asset Management ... (LogneX), online inventory management solution provider, raised seed round from Ambient Sound [more...]
Date: 2008-12-23 10:37:52
MUFG buys 9.9% stake in Aberdeen
Mitsubishi UFJ Group has bought a 9.9% stake in Aberdeen Asset Management, the Scottish fund manager, as part of a strategic alliance with Japan’s largest financial group. The purchase is being made through Mitsubishi UFJ Trust Bank, a subsidiary of MUFG that will have exclusive rights to distribute [more...]
Date: 2008-10-03 04:30:13
MUFG buys 9.9% stake in Aberdeen (pfblogs.org)
Mitsubishi UFJ Group has bought a 9.9% stake in Aberdeen Asset Management, the Scottish fund manager, as part of a strategic alliance with Japan’s largest financial group. The purchase is being made through Mitsubishi UFJ Trust Bank, a subsidiary of MUFG that will have exclusive rights to distribute [more...]
Date: 2008-10-03 00:47:04
20 Activist Hedge Funds Managing $40 Billion+ Will Gather in Phoenix to Compare Notes
Many of the world’s most aggressive hedge funds, along with their strategic advisers, are convening in Phoenix, ... , Lawndale Capital, Locksmith Capital, Newcastle Management, Oliver Press, RLR Capital, Sandell Asset Management, Shamrock Activist Value Fund, Steel Partners, The Children’s Investment Fund (TCI [more...]
Date: 2008-09-10 00:17:00
Global Stocks Tumble on Economic Concern; Oil Falls, Yen Rises
Global Stocks Tumble on Economic Concern; Oil Falls, Yen Rises By Lynn Thomasson and Sarah Jones Oct. 24 (Bloomberg) ... , Minneapolis-based fund manager at Thrivent Asset Management, which oversees about $70 billion. “ ... for about one-third of the total value wiped off world equities this year. MSCI’s measure tracking both [more...]
Date: 2008-10-24 23:19:46
TOPWRAP 1-Japan eyes bank injections to counter crisis
Japan is reportedly considering cash injections for scores of regional banks in an effort to encourage lending as the financial crisis creates havoc ... , a fund manager of Paradigm Asset Management in Taiwan. “This round of rebound is based on ample [more...]
Date: 2009-01-07 06:09:45
UTI woos overseas Indians with new gold, equity-based fund
Even as the world grapples with a financial crisis, ... asset classes that they can add to their portfolios," Harsha Upadhyay, fund manager and vice-president of UTI Asset Management Co, said in the statement. "If one of your primary objectives is to earn [more...]
Date: 2008-10-27 11:38:09
Korea's Pension Fund to Cut Stock Investment in 2009
South Korea's National Pension Service, the nation's biggest investor with 225 trillion won ($176 billion) ... conditions,'' said Lee Jin Woo, a fund manager at KTB Asset Management Co. in Seoul, which oversees ... .'' The MSCI Asia Pacific Index has slumped 45 percent in 2008, the worst annual performance in its two-decade [more...]
Date: 2008-12-29 07:04:56
Wiping out my savings is one thing. Wiping out Bubbie and Zadie's is something else entirely
the now-famous video of me and Madoff and his employee Josh Stampfli misses ... hedge funds out of their hip pockets, do you? Very few people knew how big Madoff's money management ... of their largest funds' assets under management. Then ask yourself, why would the world's largest [more...]
Date: 2008-12-17 12:04:47
Hedge Fund Tracking: Clarium Capital
Four times a year, hedge funds & asset managers with > $100 million AUM (assets under management) are required to report to the SEC their holdings from the previous quarter. I check these 13F [more...]
Date: 2008-08-18 20:16:32
Realty Market Recovery Hinges on Lower Rates
Posted by paragjani on November 25, 2008 Recovery in the Indian property market in the next six months hinges on lower home-loan rates to entice ... , who manages $2 billion for India Opportunities Fund as the managing director at Aberdeen Asset Management [more...]
Date: 2008-11-25 10:48:53
More Hedge Funds Expected to Succumb
This has been the toughest year on record for hedge funds. Several factors suggest it could get even worse ... chairman of Balyasny Asset Management, a New York hedge fund.The market continues to pummel many funds ... a torrent of withdrawal requests.Instead, a number of firms, including Platinum Grove Asset Management [more...]
Date: 2008-11-22 03:52:00
THE FINTAG NEWSLETTER @ 13 January 2009
FINTAG COMMENT Naughty children. Bad parenting is caused by not following up threats with actions, or praise with chocolate ... SVM Asset Management, the Edinburgh based independent fund management group, says its SVM Highlander [more...]
Date: 2009-01-13 15:10:19
Case Study: BlueCrest Capital Management
BobGiffords Motivation for Real-Time Market Data Management BlueCrest Capital Management is a leading European hedge fund, based in London, with over $15 billion in assets-under-management and an award-winning reputation for combining ‘ ... from traditional fixed income, equities, FX and related derivatives, to exotic commodity, energy [more...]
Date: 2008-12-16 20:04:08
Materialism cold turkey and the consequences of.
Since I uploaded Nick's Budapest video this morning I am ruling that my multimedia promise of yesterday has now been fulfilled ... out for a stroll, recording as it did via the GPS tracking facility the 3 miles I managed to achieve ... of hedge funds and further asset downgrades. Massive numbers of job losses are almost inevitable [more...]
Date: 2008-10-25 17:33:21
Reduction in property prices and home loan rates could boost Indian Real estate Market
DLF, India’s biggest real estate developer, said a recovery in the property market in the next six months hinges on lower home loan rates to lure ... Fund as managing director at Aberdeen Asset Management Asia in Singapore and holds DLF shares. “ [more...]
Date: 2008-11-24 06:31:00
Silly Canadian....Gold Isn't For Stupid Americans..............
Eric Sprott: Gold: The Go-To Asset in any Environment-- Posted Friday, 9 January 2009 Source: GoldSeek ... in the country. Managing $4.8 billion worth of hedge and mutual funds for Sprott Asset Management ... .comA 40-year, spectacularly successful veteran of the investment industry, Eric Sprott [more...]
Date: 2009-01-13 02:32:00
Bulging Side Pockets: Turning Hedge Funds into Private Equity Funds?
Many hedge funds are in trouble. Whether due to bad security selection, issues that were once considered liquid that now "trade by appointment" ... . This has placed tremendous pressure on managers who are not only depressed to see management fees drop ... . These assets generally attract management fees but not performance fees until sold. The more assets [more...]
Date: 2008-11-22 20:26:12
Realty Market Recovery Hinges on Lower Rates
Recovery in the Indian property market in the next six months hinges on lower home-loan rates to entice first- time buyers ... for India Opportunities Fund as the managing director at Aberdeen Asset Management Asia Ltd [more...]
Date: 2008-11-21 03:33:51
Realty Market Recovery Hinges on Lower Rates
Recovery in the Indian property market in the next six months hinges on lower home-loan rates to entice first- time buyers ... for India Opportunities Fund as the managing director at Aberdeen Asset Management Asia Ltd [more...]
Date: 2008-11-22 09:51:23
Government Aid Programs Proposed to Stabilize the Real Estate Market
Many members of Congress, not to mention those of us living on Main Street, are disappointed in the management-to-date of the funds earmarked for the Troubled Asset Relief ... of these funds to continue stabilization efforts for the struggling mortgage and real estate market [more...]
Date: 2009-01-14 15:17:10
Simon Treacher is innocent
It was "recent." It was "limited". And it resulted in "no material impact" on the net asset value of BlueBay Asset Management's emerging market total return fund. Yes ... that BlueBay's EM fund is down 53 per cent year-to-date.... [more...]
Date: 2008-11-27 09:00:11
Bay Street Buzz
This information courtesy of Bill Vlaad, of Vlaad & Co.: “Union Securities has picked up several new bodies ... Quenneville has moved to Institutional Sales. Stephen Brode returns to Toronto to join Ark Fund Management as Vice President, Sales & Marketing. He was most recently at TD Asset Management as Regional [more...]
Date: 2008-08-23 23:50:40
UPDATE 1-HK fund won’t invest entirely in US assets-Yam
UPDATE 1-HK fund won’t invest entirely in US assets-Yam December 9th, 2008 (Adds more quotes, details) By Natsuko Waki LONDON, Dec 8 (Reuters) ... its distance from the sovereign wealth fund label, thehead of Hong Kong’s central bank said ... to become moreproactive in the management of the fund, but they should notonly focus on the return [more...]
Date: 2008-12-08 16:50:04
BlueBay to close EM fund
BlueBay Asset Management is to shut a $1.2bn hedge fund after it lost a third of its value in three weeks and its portfolio manager resigned after valuation guidelines were breached, the UK-based [more...]
Date: 2008-11-28 05:45:23
Citigroup, the Incredible Shrinking Bank
The Citi never sleeps. Shares never awaken ... up capital. Walter Gerasimowicz, CEO of hedge fund Meditron Asset Management, said that the deal “ ... . The institution that was too big to fail is being reduced in size, both by company management [more...]
Date: 2009-01-14 16:54:54
Not All Hedge Fund Strategies Stink This Year
Geoffrey Rogow reports: Although losses and redemptions are drastically shrinking the entire hedge fund world, ... macro fund run by Brevan Howard Asset Management gained 3.7% in November, and is up 21.2% for the year [more...]
Date: 2008-12-18 15:39:10
Not All Hedge Fund Strategies Stink This Year
Geoffrey Rogow reports: Although losses and redemptions are drastically shrinking the entire hedge fund world, ... macro fund run by Brevan Howard Asset Management gained 3.7% in November, and is up 21.2% for the year [more...]
Date: 2008-12-18 14:44:27
Links 12/15/08
Why Climbers Die On Mount Everest Science Daily For feds to bail out Cerberus is the 'epitome of ignorance' TCPalm (hat tip reader Steve) ... has been plagued by penny wise, pound foolish cost-cutting. Asset Management Holiday Sale: 60% Off ... ? Apparently not. Sovereign loss funds … Brad Setser OPEC Races to Get Ahead of Declining Oil Demand Wall [more...]
Date: 2008-12-15 09:53:27
Brazil Favored Emerging Market Among Hedge Funds; Petrobras the Top Brazilian Stock
Tuesday May 27, 10:03 am ET By the tickerspy.com Staff Brazil experienced a watershed moment in April ... exposure to the Brazilian market, including $1 billion hedge fund Deltec Asset Management, a spin ... of equity at Deltec, recently told Bloomberg, "As far as long-term prospects for this market, the S&amp [more...]
Date: 2008-06-14 15:38:25
Investor Letters
Here are some more recent hedge fund investor letters. Do note that these are all .pdf files. Maverick Capital (Lee Ainslie) ... (Kyle Bass) Balyasny Asset Management LP Baupost Group (Seth Klarman) Perry Capital And, taken ... Management Corp. added $3 billion in the third quarter and Howard's Brevan Howard Asset Management LLP [more...]
Date: 2008-11-05 13:55:00
Snap news
The latest on Wednesday, - Bluebay asset management sees funds down on average 5.5%; expects events to accelerate credit cycle - statement - Corporate results: BAE systems; Bloomsbury; Experian [more...]
Date: 2008-10-15 06:23:18
What Are Bill Gross and Pimco Buying?
Forbes Magazine did a recent interview with Pimco Total Return Bond Fund manager, Bill Gross ... to be the one asset that people want to own during a deleveraging cycle. They weren’t leveraged ... buying bank preferred stocks — JP Morgan Chase, Bank [more...]
Date: 2009-01-07 09:15:39
Profitable hedge funds on a hiring spree
With the number of troubled hedge funds piling up, those firms that are doing well have been busy hiring the cream of the crop from their competitors. Hedge funds such as Balyasny Asset Management... [more...]
Date: 2008-09-02 12:51:52
DLF Assets To Raise $450M From JPMorgan, TPG?
DLF Assets (DAL), the property fund of DLF, will raise around $450 million from a cluster of private equity investors including JP Morgan Asset Management, Texas Pacific Group and others, reports CNBC-TV18, quoting investment banking sources ... has raised $450 million from Symphony Capital, a London based investment firm in May this year. [more...]
Date: 2008-11-26 08:07:01
Snap news
The latest on Thursday, - Bluebay asset management to wind down emerging markets fund - statement. - Woolworths says discussions regarding a possible sale have ended - statement. - Brewin Dolphin [more...]
Date: 2008-11-27 07:29:08
Did You Invest in Madoff? Here’s What You Need to Know . . .
Bernard L. Madoff, Dec. 30, 1999. (AP/The New York Times, Ruby Washington) ... Hedge Fund and the case involving the International Management Associates, which bilked some $150 ... else’s money, not an asset of the fund. The trustee would ask for the return of the money [more...]
Date: 2008-12-15 18:44:00
Hedgies Still Blowing Up the Markets, Oh My!
A front page story in the Wall Street Journal discusses how continued forced selling by hedge funds was the proximate cause of the sharp selloff of ... had nothing to do with it). Deleveraging is destructive to asset prices. Some had hoped ... Partners (old news), Gottex Fund Management, Wermuth Ass [more...]
Date: 2008-11-07 10:17:40
How to Buy and Sell Real Estate with ETFs
Ron Rowland is president of Capital Cities Asset Management, and an expert on mutual funds, ETFs, and sector rotation strategies. As the co-editor of Weiss Research's International ETF Trader service [more...]
Date: 2008-12-05 20:03:53
Latest End-of-the-World News
November 25, 2008 Uncategorized So if you wanted the latest end-of-the-world news, here you go: ... worse, Hugh Hendry, chief investment officer at hedge fund Eclectica Asset Management, said Friday. “ [more...]
Date: 2008-11-25 21:13:37
Wall Street Breakfast: Must-Know News
Kuwait quits Dow deal. Kuwait has notified Dow Chemical (DOW) that it's pulling out of their planned $17.4B petrochemical joint venture ... .' DOW -2.5% premarket. NYT shrinks down. The New York Times Co. (NYT) is turning to asset sales ... include J.C. Flowers & Co., Dune Capital Management, and hedge fund Paulson & Co. The group [more...]
Date: 2008-12-29 12:50:18
Wall Street Breakfast: Must-Know News
Even more firms may gain access to TARP. Sources say the Treasury may use some of its $700B rescue fund to buy stakes in financing companies such ... from its wealth management unit and 34.4B francs from its asset management unit. The world's [more...]
Date: 2008-11-04 12:19:28
Canada will win big in this crisis
Canada will win big in this crisis Posted: October 08, 2008, 5:15 PM by Diane Francis Filed under: Greed,Canadian Politics,U.S ... to Brookfield Asset Management, the CPP, OMERs, Ontario Teachers and western-based sovereign funds are also ... York over the weekend for the Toronto Symphony's Carnegie Hall triumph and the planes and lounges [more...]
Date: 2008-10-08 20:08:00
BNP Paribas exits Satyam
Fund house raised its holding in the embattled software firm tenfold in December 2008 to more than 5 mn shares, ... , Satish Ramanathan, head of equities, Sundaram BNP Paribas Asset Management said..“In January ... at end-November2008, data from fund tracker ICRA Online showed. Ramalinga Raju, chairman of Satyam, India’ [more...]
Date: 2009-01-08 05:03:00
Hedge fund sales, redemptions & AUM
There are just stunning statistics in a recent Bloomberg article on the extent of so called ‘13F’ asset sales by hedge funds: Tepper, ... billion as of Sept. 30, down from $14.4 billion at June 30. Vinik Asset Management LP held $1.8 [more...]
Date: 2008-11-17 15:04:30
