Hatching a New Plan of Attack
Barron's - USA
London's Mayfair District is known for flamboyance and high living. But neither was in evidence at a two-day hedge-fund conference held near there recently. Day One's postsession cocktail gathering lasted hardly an hour. Backslapping was out; worried looks at mobile devices were in. The Dow was down again - 500 points in one day. And the spirits of many of the 175 people in attendance were similarly deflated.

Hedge fund indices compete for attention
Financial Times - London, England, UK
As hedge funds grew to approach $2,000bn (£1,231bn, Euro1,548bn) in assets under management, before the recent sell-off, indices measuring their performance sprouted, with more than a dozen hedge fund indices now vying for industry watchers' attention.

Hedge fund results could go from bad to worse
Reuters - USA
While September was brutal for hedge funds, October was even worse. Hedge funds themselves do not announce their results, but three industry trackers - Barclay Hedge, Hedge Fund Research Inc and Hennessee Group LLC-will disclose over the next few days just how poorly the $1.9 trillion (1.2 trillion pound) industry performed last month.

Och-Ziff forecasts continued turbulence
Financial Times - London, England, UK
Och-Ziff Capital Management, a listed hedge fund, yesterday predicted more pain for the industry as redemptions continue. The cautious outlook came as the company reported a third-quarter loss of $69m and a drop in assets under management to $28.3bn as of November 1, down from $30.5bn a month earlier.

US pension funds put brakes on hedge fund bets
guardian.co.uk - UK
The love affair between U.S. pension funds and hedge funds is cooling. After helping the hedge fund industry double their assets to $1.7 trillion over the last three years, pensions funds, in their search for plump returns, are reconsidering their commitments. The pension funds have relied on hedge funds for years to help meet long-term obligations, but recent heavy losses at the loosely regulated portfolios are causing them to think twice.

Dow Jones Halts Some HF Index Calculations
istockAnalyst.com (press release) - Salem, OR, USA
Dow Jones Hedge Fund Indexes Inc. said Monday that it had temporarily halted daily publication of one-third of its hedge fund strategy benchmarks as the investment manager of the managed account platform worked to "reduce the risk profile of some of its underlying hedge fund managers."

Hedge funds: sorry seems to be...
Times Online - UK
For the world’s rich and powerful, the first few days of each month used to bring a little package of joy: an update from their hedge-fund managers telling them how well their investments were doing. For a decade it had been a stream of good news. The markets are up, we are beating them, and you are richer than you have ever been. For the past couple of months, however, opening the monthly letters has become a painful - and in some cases devastating - experience.

Independent films feel hedge fund heat
Financial Times - London, England, UK
The UK's independent film industry looks set to become the latest victim of the credit crisis as funding sources dry up amid turmoil in the hedge fund industry. Aramid Capital, a fund of hedge funds and the most active investor in single-picture deals in the UK, is having to scale down funding on the back of redemption pressure.

NJ gov defends pension's hedge fund investments
Reuters - USA
New Jersey Democratic Gov Jon Corzine on Monday rejected a call by a Republican state senator for more oversight of state pension stakes in hedge funds, saying the U.S. bank bailout should safeguard the investments.

Financial Crisis: Unhappy times for London's Hedge Fund Alley
Telegraph.co.uk - United Kingdom
Sherman McCoy moments are being reported across the capital’s wealthiest zones, but nowhere are the echoes of Tom Wolfe’s Bonfire of the Vanities stronger than in Curzon Street in Mayfair

Hedge fund problems reach far wider
Financial Times - London, England, UK
I was long puzzled by one question that supposedly well informed hedge fund clients kept asking over recent months: have we seen the worst yet? It took a while for the penny to drop as to what was really being asked – not the direction of the markets but a clue from an insider exposed to the practices of hedge funds as to the scale of unknown horrors that may be lurking. Not even a hefty dose of aspirin helped the instant headache that developed when I explored the question with my crystal ball.

Hedge fund managers fight frustrations
Financial Times - London, England, UK
Pummelled for weeks by falling markets and client redemptions, Asia’s hedge fund managers on Thursday worked off some of their frustrations at a gala boxing event in Hong Kong. Organised before the onset of the global financial crisis, which has left many industry participants on the ropes, Hedge Fund Fight Nite featured a dozen plucky fighters egged on by 800 raucous supporters.

Goldman hedge fund takes mighty fall
InvestmentNews - New York, NY, USA
A $989 million loss by a Goldman Sachs fund year-to-date through September offers more proof that in the hedge fund space, the bigger they are, the harder they fall.

Lessons of the hedge fund farce
Times Online - UK
There is a very compelling argument to suggest that much of the recent downward movement in world stock markets has been driven by hedge fund redemptions and the way that the industry is financed, rather than the latest unemployment figures or corporate profit warnings.

India-focused hedge funds lost 46% in '08
Times of India - India
Often-touted as manipulative, hedge funds have been time and again blamed for indiscriminate selling and thereby pulling down the domestic stock prices even in India. But India-focused hedge funds have also been affected by the meltdown.

Sidley Austin LLP Named Among Top Law Firms for Hedge Funds by Alpha Magazine
MarketWatch - USA
Sidley Austin LLP has been ranked among the top legal advisors to the hedge fund industry in the 2008 Alpha Awards(TM) by Institutional Investor's Alpha Magazine. In this year's survey, Sidley placed first in three of the five sub-categories of the survey, including "business planning & corporate finance," "hedge fund expertise" and "regulatory and compliance." Sidley also ranked first among the Hedge Fund 100 Favorites, Alpha's ranking of the 100 largest single-manager hedge funds measured by assets under management, and as the number two onshore law firm overall both for large funds (those with assets of $1 billion or more), as well as for funds with assets under $1 billion.

Nannies Worse Off Than Hedge-Fund Guys in Rout: William Pesek
Bloomberg - USA
As Japan and the U.S. grapple with the 'R' word, or recession, the Philippines is dealing with one of its own. For Asia's 13th-biggest economy, the 'R' word is remittances.

Hedge Fund Exit Strategies
Forbes - NY, USA
Because of the recent market turmoil, many hedge-fund investors have questions regarding what regulations are applicable to hedge funds, and how to withdraw their money from their hedge-fund investments if they want out. Indeed, hedge funds often present many different barriers to withdrawal, and there are essentially no regulatory prohibitions on these barriers.

How to Profit From Hedge Fund Selling
Motley Fool - USA
Right now, hedge funds are engaged in forced selling on an unprecedented scale. That makes a lot of investors anxious; they attribute massive market swings to these mavericks of the investing world, and they expect more to come. Here's why individual investors should be looking to exploit this trend, rather than cowering from it.

Hedge-fund risk managers in the spotlight
Asian Investor (subscription) - Hong Kong
The credit crunch is a 'once in a decade event'. It is 'a death by a thousand cuts'. Those are just two examples of the way that hedge-fund risk managers visualise this prolonged period of trauma; somehow 'dislocation in the credit markets' doesn’t quite suffice.

General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law

£1.7bn wiped off hedge fund Man
guardian.co.uk - UK
More than £1.7bn was wiped off the market value of hedge fund Man Group today after it reported a sharp fall in first-half profits. The chief executive, Peter Clarke, blamed the 25% in profits fall on the "most extraordinary markets any of us have ever seen" but analysts are worried more investors will pull their cash out of the world's biggest hedge fund as a result of the turmoil.

Scholes's Platinum Grove Fund Halts Withdrawals After Losses
Bloomberg - USA
Platinum Grove Asset Management LP, the hedge-fund firm co-founded by Nobel laureate Myron Scholes, temporarily stopped investor withdrawals from its biggest fund after it lost 29 percent in the first half of October.

Can't hedge this
Globe and Mail - Canada
He's the first call on The Street. He can raise $40 million in two minutes. And now hedge-fund superstar Rohit Sehgal is afraid to open his e-mail

Goldman Sachs to reduce hedge fund client numbers
Financial Times - London, England, UK
Goldman Sachs is cutting back the number of its hedge fund clients in an indication of tougher market conditions and of the changes sweeping through that was once the premier investment bank. "Their ability to leverage themselves has been affected by their new reiteration," says George Kellner, founder of hedge fund Kellner, DiLeo. "They are reviewing many of their relationships."

Hedge fund maestro David Einhorn talks about his next moves
BloggingStocks - USA
Greenlight Reinsurance Ltd is an off-shore specialty property and casualty reinsurance company. This week, the company reported its Q3 results, which showed a net loss of $118.4 million or $3.29 per share.

Clarium Hedge Fund Slumped 18% in October, Erasing Year's Gains
Bloomberg - USA
Clarium Capital Management LLC, the hedge-fund firm run by PayPal co-founder Peter Thiel, slumped 18 percent in October, its biggest monthly decline, because of losses on bonds. The firm's Clarium LP fund reported a year-to-date loss of about 3 percent, wiping out the 58 percent gain it made in the first half, according to estimates given to investors.

PMA says Harvester hedge fund up 4.83 pct in Oct
Reuters - USA
Hedge fund manager PMA said on Wednesday its flagship macro vehicle focusing on foreign exchange and interest rate markets returned 4.83 percent in October, even as the global financial crisis ravaged many of its peers.

Farallon's main fund reportedly down 24% this year
MarketWatch - USA
Farallon Capital Management LLC's main hedge fund has lost almost 24% this year through October, leaving it on course for its first annual loss since opening 22 years ago, Bloomberg News reported on Thursday.

Star hedge fund manager Coffey joins Moore Capital
Reuters - USA
Star hedge fund manager Greg Coffey, who resigned from GLG Partners (GLG.N: Quote, Profile, Research, Stock Buzz) earlier this year, has joined Moore Capital Management, the firm said on Monday. Coffey, who ran $7 billion in assets at GLG, left the firm on Friday. He began work on Monday as co-chief investment officer of Moore Europe Capital Management, a subsidiary of New York-based global macro firm Moore Capital.

Hedge fund Autonomy Capital halts withdrawals-report
Reuters - USA
Autonomy Capital Research LLP, a $1.7 billion hedge-fund firm run by former Lehman Brothers Holdings Inc trader Robert Gibbins, halted withdrawals from its flagship fund after losses this year, Bloomberg reported on Tuesday.

Hedge fund giant GLG warns investors about big shake-up
Times Online - UK
One of Europe’s largest hedge funds, GLG, is sending a letter to investors this weekend saying it is to launch a 'liquidity review' of its funds. It is also going to stop investors making withdrawals from its $1.5 billion (£930m) Market Neutral fund for six months. The review will decide the best way to preserve capital in GLG’s 40 funds.

Och-Ziff reports quarterly net loss on IPO costs
MarketWatch - USA
Och-Ziff Capital Management Group LLC reported a quarterly net loss on Tuesday and said it's getting some investor redemptions, but the firm's main hedge fund has more than a third of its assets in cash and is ready to invest.

Turtle hedge fund to restructure after losses
guardian.co.uk - UK
The Turtle Fund, an $80 million Swiss-based hedge fund trading volatility, has stopped trading and will let investors exit after sharp losses, following a disagreement between the fund's managers. In a note to investors, seen by Reuters, the fund said it lost 8.7 percent in September and 14 percent in October - its worst-ever monthly performance.

Lehman demise casts doubt of future of RAB fund
Wealth Bulletin - London, England, UK
RAB Capital, the US hedge fund manager that has already restructured two of its portfolios since September because of market volatility, has de-listed a fund which had assets frozen following the collapse of Lehman Brothers, in a further sign of how financially debilitating the US bank's demise has been.

Blue Mountain freezes fund in face of withdrawals
Reuters - USA
Blue Mountain Capital Management LLC has temporarily halted redemptions at its largest hedge fund after clients asked to withdraw money despite its "distinguished" performance, according to a letter to its investors.

Hedge Fund Pentwater Suspends Redemptions
HedgeCo.net - West Palm Beach, FL, USA
In a letter to investors, Hedge Fund manager Pentwater Capital announced that due to a number of unexpected redemption notices for year-end they have suspended redemptions and withdrawals, effective immediately.

Boone Pickens: BP Cap Out Of Market, No Hurry To Return
CattleNetwork.com - Overland Park, KS, USA
Oilman and energy investor T. Boone Pickens confirmed Thursday that his energy-focused hedge fund, BP Capital, has moved its assets out of the stock market and into cash.

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A new climate change fund for Pictet in '09
reuters - UK
Swiss private bank and asset manager Pictet & Cie plans to launch a new climate change fund next year, offering investors another option to diversify as the global financial crisis hits traditional investments.

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Judge won't limit fund's liability in Delphi case
Forbes - NY, USA
A bankruptcy judge on Thursday again refused to limit potential damages that the Appaloosa hedge fund may be forced to pay in a fraud lawsuit brought by auto supplier Delphi Corp.

General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law

Hedge fund market abuse controls raise concern
Reuters - USA
Hedge funds are relying too heavily on their open-plan office arrangements to overhear and prevent illegal trading activities, the FSA has warned. Following its latest programme of visits to assess UK-based hedge funds' controls for monitoring staff trading activity and preventing market abuse, the Financial Services Authority said there is "scope for improvement".

General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law