Why hedge fund managers are bullish about Cisco Systems, Inc. (NASDAQ:CSCO)? (FinancialsTrend)
There had been heavy interest exhibited by the hedge fund managers in the stock of Cisco Systems, Inc. (NASDAQ:CSCO) in the recent quarter. It was observed that the stock had attracted long positions from around 76 hedge funds by the end of second quarter of fiscal year 2013 which proved to be a hefty increase of 25% over the previous quarter. Yacktmann Asset Management was observed to be the hedge fund which had been holding the largest position in the stock of Cisco Systems, Inc. (NASDAQ:CSCO) with shares worth $1.2858 billion constituting around 6.1% of the fund’s total portfolio.
Argentina Rejects US Court Order to Pay ‘Vulture’ Hedge Funds (Al-Jazeerah.info)
Economy Minister Hernan Lorenzino said on Sunday that Argentina did not accept a New York court’s order to pay $1.47 billion to two hedge funds holding defaulted bonds, saying the case could go to the US Supreme Court. Argentina has said it will continue to pay back debt on its own terms, after a US appeals court ordered the South American country to hand $1.47 billion (1.1 billion euros) to two hedge funds holding its defaulted bonds.
Hedge Fund 75-Cent Aussie Call Draws Investors: Australia Credit (Bloomberg)
European investors are backing Excalibur Funds Management Pty’s call for the Australian dollar to slump to 75 U.S. cents, reflecting record bets from speculators on declines in the currency. Institutional investors placed $200 million with the Sydney-based hedge fund’s Australian dollar-only strategy since it started July 17, Matthew Harper, a principal and trader at Excalibur, said in an interview Aug. 22. Hedge funds and other speculators swung from record bets on Aussie gains in December to the most wagers ever this month that the currency will fall.
Nikko AM Names Collins Head of Communications (FINalternatives)
Nikko Asset Management will hire David A. Collins for the newly created role of head of group marketing and communications. Collins brings more than 20 years’ experience working in Japan and other Asian countries, mainly in financial services, most recently with The Hartford Financial Services Group where he was head of external corporate communications. Prior to The Hartford, he was a television producer at Reuters in New York.
Tips For Investors: Rapoport on Hedge Fund Advertising (HedgeCo.net)
Dian Vujovich at the Palm Beach Daily News writes about the recent changes to the Securities Act of 1933, which allows hedge funds to raise money through general solicitation and advertising to the public. US hedge funds are, for the first time, able to solicit investors freely and advertise their funds through mass media channels, from television adverts to newspapers articles and websites. “This is obviously a monumental development in the industry, lifting the general solicitation ban for hedge funds.” Evan Rapoport, founder of industry portal HedgeCo.net, said earlier this year in a HedgeCo exclusive.
