Asian hedge funds reverse slow start to outperform this year (BusinessTimes)
Asian hedge funds are set to outperform the world in 2012, gaining for the fourth straight month in November as the US Federal Reserve’s low- rate policies boosted credit and stock investments. Top performers in 2012 include Income Partners Asset Management (HK) Ltd’s Asian Credit Hedge Fund, GCI Japan Hybrids and Algebris Coco Credit Fund. The Eurekahedge Asian Hedge Fund Index returned 5.8 per cent this year through November, outperforming the 4.5 per cent return by the index tracking global hedge funds, according to a preliminary report by Eurekahedge, a Singapore-based data provider.
A Secret Agreement Between Mathew Martoma and Cohen’s SAC Capital? (StreetInsider)
Steven Cohen’s SAC Capital hedge fund is under intense scrutiny after former portfolio manager Mathew Martoma was charged by the SEC with insider trading, and the agency implicated Mr. Cohen himself for being involved in trading on the insider information. Now reports suggests that the hedge fund and Mr. Martoma have an agreement to share information about the government’s building case against the hedge fund giant. FOX Business Network (FBN) senior correspondent Charlie Gasparino reports that there is a “cooperation agreement” between SAC Capital and former SAC Capital portfolio manager Mathew Martoma. This agreement allows the two to “share documents” and gives SAC founder Steven Cohen “additional insight into the government’s case against him.”
Uncertain 2013 challenges hedge fund strategy performance (HedgeFundsReview)
Unpredictable consequences of political interference and central bank intervention on markets are set to continue in 2013. Hedge fund managers need to cope with the new reality and boost performance. Entering 2013 life appears as complex and uncertain as ever. The eurozone crisis – the slowest train wreck in history – continues to drag down economies in and around Europe. The US, whether or not it avoids plunging off a fiscal cliff, is not exactly a shining beacon of growth for the world.
Volcker Rule may hurt mutual funds, investors: ICI (MarketWatch)
A proposal set up to implement the Volcker Rule is intended to limit speculative activity of big banks and limit their hedge fund activity. However, a top lobbyist for the mutual fund industry told lawmakers Thursday that the measure may cause major problems for many mutual funds and limit fund options for retail investors. “This could have the effect of essentially barring banking entities from sponsoring the most highly regulated type of investment vehicle [mutual funds] and, thereby, limiting investment options for investors,” Paul Stevens, president of the Investment Company Institute, told lawmakers at a House Financial Services Committee hearing.
Houston Firm Launches HF with $100M Seed (HedgeFund)
TPH Asset Management announced Wednesday that it has received seed capital from an Asian institution for its new hedge fund. Houston-based TPH said in a statement that the new fund, which launched with $100 million in assets, focuses on public equity investments across the energy infrastructure spectrum. The fund is managed by Diego Kuschnir, who joined TPH in November. The firm also said that the unnamed institution will have the opportunity to seed additional strategies as TPH continues to grow.
StatPro and Pacific Fund Systems to Offer Calculations (WatersTechnology)
Users of PFS-Paxus, the share registry, fund accounting, and allocations platform of Hong Kong-based hedge fund tech provider Pacific Fund Systems (PFS) will now be able to perform online portfolio analysis and Value-at-Risk (VaR) calculations through StatPro Revolution, a cloud-based portfolio analysis platform from London-based StatPro. “Creating a seamless interface between our two systems allows PFS clients to view detailed portfolio metrics and VaR,” says PFS director James Eldershaw. “We believe that with increased industry regulation it will become necessary for all funds to have access to this type of information and to have it provided directly from the fund’s official accounting records.”
What It Takes To Start A Hedge Fund Has Completely Changed Over The Last Decade (BusinessInsider)
If you think you’re going to be like Ray Dalio or Dan Loeb, starting an incredible hedge fund from your apartment, it’s time to let go of that dream. Over the last ten years, starting your own fund has gotten way more complicated than it used to be. Gone are the days when a guy with a Bloomberg machine could convince investors to fork over that 2% and 20% (the common hedge fund compensation scheme) because of their investment thesis or their trading prowess.
