Israeli hedge fund index unveiled (COOConnect)
Tzur Management, a Tel Aviv-based fund administrator and Gilboa, a fund of hedge funds, have launched an index tracking the performance of Israeli hedge funds. The Tzur Gilboa Israeli Hedge Fund Index (TGI) will provide monthly data on any open-ended funds registered, managed or significantly invested in Israel. There is a minimum asset threshold of NIS 10 million to be included on the index. Calculation of TGI will be conducted by taking an equally-weighted average of all funds that meet the eligibility criteria.
The War Chests that Hedge Fund Managers Are Building (InstitutionalInvestorsAlpha)
Barry Rosenstein of Jana Partners, William Ackman of Pershing Square Capital Management, Nelson Peltz of Trian Partners and Jeffrey Smith of Starboard Value have a fairly easy way to gather ownership stakes outside their main portfolios when they think a company needs an overhaul… Co-investment vehicles, in which a hedge fund manager pools resources with one or more select investors for a specific investment outside the fund manager’s regular portfolio positions, have helped make it possible for hedge fund managers to put more of their money into positions where they…
Billionaire hedge fund manager offers ‘ethical behaviour bonus’ after last firm fell to insider trading (FinancialPost)
Billionaire Steven A. Cohen, whose hedge fund SAC Capital Advisors LP shut down this year to settle charges of unprecedented insider trading, plans to reward employees at his new investment firm for demonstrating ethical behaviour. Starting next year, some of the managers and analysts at Stamford, Connecticut-based Point72 Asset Management LP can earn an extra bonus of as much as 4% of compensation if they demonstrate adherence to the firm’s compliance policy and ethical standards, contributions to the community and repeated strong investment performance, Mark Herr, a spokesman for the firm, said yesterday in a telephone interview.
Jim Rogers: A lot of Americans are being ruined (FuturesMag)
Legendary investor and market contrarian Jim Rogers told Futures magazine Editor-in-Chief Dan Collins that the current zero-interest rate environment is destroying economic opportunity for many across America, and he denounced the economic policies which prevent wage earners from gaining interest on their savings. “A lot of people are being ruined,” Rogers stated in an interview in the October issue of Futures magazine. “Any pension plans, endowments, etc., are suffering because they invest for the futures and are finding that their situation has gotten worse,” he says.
FBI Allege $311 Million Global Hedge Fund Fraud Scheme (HedgeCo)
Two business associates in the hedge fund management industry have been charged by the FBI with defrauding institutional investors and causing collective losses of more than $311 million. Helmut Kiener is charged by indictment with four counts of wire fraud, two counts of bank fraud, and three counts of money laundering, based on allegations that he devised and directed various investment fraud schemes in concert with his partner John C. Tausche. Tausche is charged by information with one count of bank fraud and one count of money laundering, based on his alleged involvement in the scheme.
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