John Kerry Set to Introduce George Soros at State Department Forum (TheBlaze)
Secretary of State John Kerry is set to introduce billionaire investor George Soros at a State Department forum Tuesday, the Washington Free Beacon reported. Kerry will make the introduction at 1:30 p.m. at the event sponsored by the George C. Marshall Center, a German-based security and defense institute operated by both the U.S. Department of Defense and German Defense Ministry. A State Department spokeswoman confirmed to TheBlaze that Kerry will introduce Soros, but stressed that the forum is an in-house event for department employees only, not a public or press event.
Athenahealth responds to hedge fund critic (BostonGlobe)
Jonathan Bush was made for television. Or maybe it’s the other way around. He was certainly in his element last week, cycling through the business news stations on cable and online with trademark high energy and plenty of edgy one-liners. But this time, Bush was in the rare position of playing defense, trying to explain why everything was just fine at athenahealth, Inc (NASDAQ:ATHN), the Watertown health information company he runs. Bush was pushing back against an influential hedge fund manager, David Einhorn, who is well known for targeting companies he considers overvalued. Athenahealth stock has gotten clobbered recently, falling by 50 percent in just two months. Einhorn thinks it might plunge another 80 percent.
SunGard launches Hedge360 Risk Reporting Service for hedge funds (Fx-MM)
SunGard announces the launch of its Hedge360 Risk Reporting Service which provides hedge funds with independently validated data and analytics to help meet investor demand for due diligence and high-quality risk management strategies. Delivered as a managed service and fully hosted, Hedge360 Risk Reporting Service provides macro-scenario analysis and stress testing enabling hedge funds to build and maintain the institutional credibility they need to raise assets and achieve growth. The new service will help hedge funds gain a competitive advantage by ensuring an independent view of risk through increased monitoring of multi asset classes and instruments, improved data management and more accurate modeling of assets.
Asset surge propels Duet beyond $5bn barrier (eFinancialNews)
Duet, whose activities span hedge funds and long-only funds, private equity, and funds of hedge funds, managed more than $5 billion by the end of March this year, according to the firm’s website, up from roughly $3 billion the year before. Gabay told Financial News the rise in group assets was driven by “organic growth”. The group’s UK hedge fund business, called Duet Asset Management Limited, was responsible for a large chunk of the growth in assets.
Singapore’s Temasek starts hedge fund venture with Dymon Asia Capital (PIOnline)
Temasek Holdings, Singapore’s sovereign wealth fund, will start a venture with Dymon Asia Capital (Singapore) to back new hedge fund managers and strategies as it becomes a minority stakeholder in the firm. Temasek committed $500 million initially that will be managed by Dymon, a hedge fund manager based in Singapore, according to Dymon President Jay Luo. Temasek spokesman Stephen Forshaw confirmed the partnership in an e-mailed statement. The statement didn’t disclose the size of Temasek’s stake while Mr. Luo didn’t elaborate when asked by phone.
Breaking Up Berkshire Hathaway Inc. Would Be a Terrible Mistake (Fool)
Thornton O’glove, an eminent financial writer, recently advanced a curious proposition: Spin off Berkshire Hathaway Inc. (NYSE:BRK.A) subsidiaries and break Warren Buffett‘s company apart. In opposing this idea, I find myself in the rather incongruous position of defending Mr O’glove’s interest against his own will, as he is a shareholder of Berkshire and I am not. …In the 1960s, it was conglomeration. Today, the scale has turned full circle to the new fad of spinoffs. A favorite among activists like Nelson Peltz and Carl Icahn, these schemes are almost always justified on the merits of “focus” and the ideal of “shareholder value.”
Cramer’s Mad Dash: Why retail will be good (CNBC)
A Trio of Stock Pickers Find Success in Credit (InstitutionalInvestorsAlpha)
While many hedge fund managers have been trying to determine whether there’s a bubble among high-flying technology and biotechnology stocks and are struggling to find the next group of winners amid a generally volatile market, a handful of hedge funds usually associated with stocks are finding success in credit markets. According to first-quarter reports recently sent to clients, at least three well-known large hedge fund firms said gains in credit markets played a large role in first-quarter performance. They include Leon Cooperman’s Omega Advisors, Eric Mindich’s Eton Park Capital Management and Daniel Loeb’s Third Point, all based in New York.
Investors add to hedge fund holdings in May: SS&C (Reuters)
Investors added more cash to hedge funds than they redeemed in May, even though performance dipped during April, new data showed on Monday. The SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions minus redemptions, rose 0.94 points during May to 149.5 points, just shy of its record high of 150.77 points in September 2013. During April, however, the SS&C GlobeOp Hedge Fund Performance Index showed the performance of the funds administered by the group on its platform fell 0.59 percent to bring year-to-date gains for the index to 1.97 percent.
Why Ackman Is Right About Fannie Mae And Freddie Mac (BidnessEtc)
Fannie Mae (FNMA) and Freddie Mac (FMCC) were the publicly-traded companies that were hit the most during the financial crisis of 2008. The value of these government sponsored enterprises (GSEs) tanked over 90% after the housing market crashed. Shares of the mortgage giants were trading at under 30 cents apiece in the first quarter of 2013, but have since rallied strongly. In the past year, Freddie Mac and Fannie Mae stock has soared 346% and 361%, respectively. Bill Ackman, who runs the $15 billion hedge fund, Pershing Square Capital Management LP, is the largest private investor in Freddie Mac and Fannie Mae. He believes that Fannie Mae has great upside potential, and could be worth between $23 and $47 in the future…
Financial Fads-Hedge Funds Anyone? (Forbes)
Fads are nothing new—they come and they go. We’re drawn to THE new trendy and hot restaurant, bar, travel destination, fashion—whatever is of the moment. And this extends to the right place to invest our money. Financial fads have included tech stocks, newly emerging markets, gold and commodities—and now the topic du jour is “alternative investments”, i.e. hedge funds. It all sounds so mysterious and sexy and those promoting this methodology make sure to keep the aura alive. Let’s face it, there is an allure to being “in”, or at least feeling in.
Hedge funds post negative results (BenefitsCanada)
Hedge funds posted their second consecutive month of negative returns in April with the Eurekahedge Hedge Fund Index down 0.15% as global markets continued to falter amid a sluggish start to the year. On a year-to-date basis, hedge funds are up 0.78%, slightly ahead of the MSCI World Index which has returned 0.75% in the first four months of the year. Other key findings show: Global hedge funds were up 0.78% year to date as North American, European and Latin American managers lead with gains of 2.16%, 1.03% and 0.38% respectively.
Jim Rogers: Forget U.S. markets, I’m buying Chinese and Russian stocks (Yahoo)
This week’s optimism about capital market reforms in China seemed to outweigh any investor concern stemming from the referendum on independence held in two regions of Ukraine. Enthusiasm around China came after the State Council reiterated its desire to liberalize finance in areas such as IPOs and limits on foreign investment — even though some of these measures were originally announced months ago. Jim Rogers, famed commodities investor and author of Street Smarts: Adventures on the Road and in the Markets, lives in Singapore and is a prominent bull on China’s long-term prospects.
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