Deptford leaves Smith & Williamson as Boucher rejoins (FTAdviser)
Mark Boucher is set to return to Smith & Williamson Investment Management to take up the role of head of UK equities. Mr Boucher’s arrival at the company later this month has meant that Charles Deptford has left Smith & Williamson. He had co-managed the Enterprise fund, the Enterprise Trust, the UK Equity Growth fund and the UK Equity Income fund. …David Cobb, head of investment management and banking at Smith & Williamson, said: “Mark Boucher is a very experienced fund manager with an excellent track record and this, combined with his knowledge and understanding of Smith & Williamson, makes him an important hire for us.”
Dartmouth Controversy Reflects Quandary for Endowments (NYTimes)
By the numbers, the endowment at Dartmouth had a banner year. The $3.49 billion fund returned 5.8 percent for the 12 months that ended in June — the best in the Ivy League. But the performance has been clouded by controversy. Last year, an anonymous letter signed by “the friends of Eleazar Wheelock,” referring to the university’s founder, asked New Hampshire state officials to investigate the endowment over potential conflicts of interest raised by trustee-related investments.
IGT says hedge fund to nominate ex-CEO, others to board (Reuters)
International Gaming Technology said on Monday its former chief executive and a hedge fund plan to nominate four people for the slot machine maker’s board of directors. Charles Mathewson, working with Ader Investment Management LP, has submitted a statement of intent to nominate the four for the eight-person board, IGT said. Mathewson, who had been a board member from 1985 through 2003 and stepped down as CEO in 2000, is one of the nominees.
Asking Hedge Funds to Turn Themselves In (NYTimes)
Hedge funds had long operated under the regulatory radar, with few reporting obligations and a well-deserved reputation for secrecy. Now, the government is weighing whether to require them to report any suspicious transactions, like insider information or manipulation of stock prices. Reuters reported that the Financial Crimes Enforcement Network, an office in the Treasury Department known as FinCEN, is considering a rule that would require hedge funds to file reports about possible wrongdoing in their operations. This would effectively require hedge funds to turn themselves in and invite an investigation of their investment activities.
Texas County & District picks more credit hedge funds (PIOnline)
Texas County & District Retirement System invested $200 million each in new credit-oriented hedge funds Brevan Howard Credit Catalysts Fund LP and BlueCrest Capital LP. The investments were made on Jan. 1, according to a transaction report on the $17.6 billion retirement system’s website. BlueCrest Capital Management is a new manager for the Austin-based municipal retirement system. TCDRS previously invested a total of $120 million in Brevan Howard, the flagship global macro hedge fund managed by Brevan Howard Asset Management.
88 Generation leaders meet billionaire George Soros (Mizzima)
Four representatives of the 88 Generation Students group met with Hungarian-born billionaire George Soros on Tuesday morning at the Chatrium Hotel where they discussed foreign investment and the need for transparency in business. “We are more interested in conducting detailed negotiations rather than just asking [Mr. Soros] what he can give us,” said Pyone Cho who was joined by Min Zeya, Htay Kywe and Mya Aye.
