David Einhorn’s Greenlight Capital Misses August Rally (InstitutionalInvestorsAlpha)
David Einhorn‘s New York-based hedge fund firm Greenlight Capital missed August’s market move altogether. The firm’s three main funds gained between 0.2 percent and 0.4 percent for the month. This compares with a 3.8 percent jump in the S&P 500, the closely-followed index’s best August performance in 14 years. Greenlight’s three main hedge funds dropped between 2.8 percent and 2.9 percent in July. As a result, Greenlight Capital Offshore is up 3.4 percent for the first eight months of the year,…
State Street Appoints Head of Alternative Investment Solutions In Asia (ChinaMoneyNetwork)
State Street Corporation has appointed Bob Keogh as head of its Alternative Investment Solutions (AIS) division for the Asia Pacific region, according to an announcement. Based in Hong Kong, Keogh will oversea State Street’s fund administration services for hedge fund, private equity and real estate fund in Asia Pacific. He was previously senior managing director for State Street’s hedge fund servicing business based in Europe. Bob joined State Street in 2012 from Goldman Sachs as part of State Street’s acquisition of Goldman Sachs Administration Services (GSAS).
S&P Capital IQ Releases Quarterly Hedge Fund Tracker (HedgeCo)
Technology and healthcare stocks saw the largest growth in new hedge fund buying activity during Q2 2014, with Allergan, Inc. (NYSE:AGN) and Apple Inc. (NASDAQ:AAPL) as the most popular individual stocks, a review of 2014 Q2 13F filings by US-based pure play hedge funds show. Citadel and Renaissance were the top two hedge funds in terms of total equity holdings, followed by Millennium Management which beat Icahn to 3rd spot. “Both institutional and retail investors share an enormous interest in where the largest hedge funds put their money.
Two secret funders of Nigel Lawson’s climate sceptic organisation revealed (TheGuardian)
Two secret funders of Nigel Lawson’s climate sceptic organisation have been revealed. This is the first time anyone financing the group has confirmed their contributions. Both are linked to a free-market thinktank, the Institute of Economic Affairs (IEA), which has admitted taking funding from fossil fuel companies and has also argued against climate change mitigation. …Record and Vinson are the first GWPF funders to confirm their donations. Sir Michael Hintze, a major Conservative donor and hedge fund tycoon, was named by the Guardian in 2012 as a GWPF funder but has not confirmed or denied his GWPF link. Like Record, Hintze is an IEA trustee.
Biden Assails Carried-Interest Loophole (Finalternatives)
Vice President Joseph Biden took aim at the so-called “carried interest” tax loophole benefiting hedge fund and private equity managers during a Labor Day address in Detroit. Biden spoke at the bankrupt city’s Labor Day parade, decrying what he called a war against organized labor. But he also hammered the carried-interest loophole as fundamentally unfair.