Hedgebay continues to develop secondary market for hedge funds (HedgeWeek)
Hedgebay has published the results of a survey conducted amongst its high profile hedge fund, institutional and banking clients designed to pinpoint potential improvements that could be made in secondary market trading. More than 150 firms from across Hedgebay’s user base took part in the survey, including hedge funds, funds of funds, pension funds, insurance companies, family offices and banks. Questions were asked to determine how far the secondary market for hedge funds has come, and whether any improvements need to be made.
Ex-Soros Adviser Fujimaki Sees JGB Bust From Tax Delay, Fed (Bloomberg)
Takeshi Fujimaki, a former adviser to billionaire investor George Soros who won a seat in Japan’s upper house of parliament last month, said a delay in increasing the sales tax and reduction of Federal Reserve stimulus could cause the nation’s government bond “bubble” to burst. Prime Minister Shinzo Abe’s administration plans to release later this year its medium-term fiscal plans and a final decision on a two-step doubling of the consumption levy to 10 percent in 2015. Fed Chairman Ben S. Bernanke said in June the U.S. central bank may start scaling down its third round of quantitative easing of asset purchases this year and end it altogether in mid-2014.
Jim Rogers’ Quantum mechanics (Business-Standard)
Making money in any kind of financial market, whether it deals in commodities, stocks, bonds or currency, is a task that demands all-round awareness – of politics, finance, corporate performance, economies and so on. It also requires the ability to predict trends and speculate about the future of a particular asset class. It is a risky business, to be sure, and one that calls for caution. No one understands this better than the legendary trader Jim Rogers.
Deustche Bank-Backed Roc Liquidating Hedge Fund (Finalternatives)
Despite an impressive pedigree and some powerful backers, Roc Capital Management is closing its doors in the face of falling assets and poor performance. The New York-based hedge fund has begun to liquidate its remaining portfolio, Bloomberg News reports. Roc plans to return all capital to clients within a few weeks. Roc managed just $642 million at the beginning of March, down from $1.2 billion when it launched in 2009. The quantitative hedge fund was among the largest new hedge funds of that year, and was backed by Deutsche Bank AG (USA) (NYSE:DB), where founder Arvind Raghunathan and most of its staff formerly worked at its Equitech Group. The bank owned at least a 5% stake in Roc and put up $500 million of its initial capital.
How Fast Could You Get Out of Your Hedge Fund? (ai-CIO)
Investors may have to wait more than a year to redeem anything more than three quarters of their net assets from the largest US hedge funds, the Securities and Exchange Commission (SEC) has revealed. Hedge funds with more than $5 billion in assets are compelled to report their liquidity and leverage profiles to the SEC under the recent Dodd Frank Act. Figures shown to the US Congress last week indicated just 7% of assets held in these funds could be liquidated in one day or less; with fractionally more—9%—available to be sold and returned in one week or less.
