Hedge Fund Barington Proceeds With Proxy Contest at OMNOVA: Filing (Reuters)
Hedge fund Barington Capital Group filed preliminary proxy statements with the U.S. Securities and Exchange Commission and is proceeding with a proxy contest to elect three alternative directors to the board of OMNOVA Solutions, the documents show. New York-based Barington, which controls 2 percent of Beachwood, Ohio-based OMNOVA (OMN.N), a maker of specialty chemicals, nominated its slate in December and filed documents with the SEC late on Tuesday.
Engaged Capital Scores Quick Win with Silicon Image (The Wall Street Journal)
Engaged Capital LLC, the Newport Beach, Calif.-based activist hedge fund, is on a roll. In an otherwise quiet day for deals, Lattice Semiconductor Corp.LSCC -2.60% on Tuesday announced a $600 acquisition of a rival semiconductor producer Silicon Image Inc.SIMG -0.21%. Silicon Image’s sale comes a little more than a month after Engaged Capital disclosed that it had increased its stake in the company to 5.2% and wrote a letter to the board of directors, calling it undervalued and outlining potential steps to take to increase the share price.
Hedge Funds Earned $1.5 Trillion For Investors in Last 10 Years (Reuters)
Hedge funds earned $1.5 trillion for their investors over the last ten years and more pension funds are increasing the amount of money they allocate to them, trade body Alternative Investment Management Association (AIMA) said on Wednesday. The findings, based on data from industry tracker HFR, come as hedge funds face intense scrutiny following decisions by funds such as the California Public Employees’ Retirement System and Netherlands’ PFZW to pull out of them, citing high costs, complexity and poor performance.
Here Are The Best Hedge Funds For 2015: Experts (CNBC)
Nervous about stock prices being too high, bond yields being too low and cash doing nada? Then hedge funds may be right for you. That’s the pitch investors in the asset class are giving to their own clients—even as the average hedge fund manager underwhelmed in 2014 with a 4.21 percent average return, per HedgeFund Intelligence. “We think hedge funds going forward make a lot of sense in the portfolio given how equities and bonds have traded over the last several years,” Robert Duggan, a portfolio manager at $12.5 billion SkyBridge Capital, said in a recent video to accompany a white paper this month, “Why Investors Should Allocate to Hedge Funds.”
Dalton Fund Manager Readies March Launch For Asia Hedge Fund (Reuters)
Former Dalton Investments portfolio manager Tony Hsu is preparing to launch his own hedge fund in March to bet on shares of entrepreneur-led Asian firms and against state-run companies, according to a source and the fund’s marketing material. Hsu, who led a team that invested $2.5 billion for Dalton before leaving the firm last year to set-up OTS Capital in Hong Kong, will start trading with about $100 million, the source with direct knowledge of the matter said. The fund has capacity to take in $1 billion.
