What the Tiger Cubs Have in Common (InstitutionalInvestorsAlpha)
It has been well documented that many of the descendents of Julian Robertson, Jr.’s legendary Tiger Management crowd into the same stocks, especially the high-flying tech, Internet, media and telecom companies that have been leading the bull market and merger mania over the past couple of years. However, within this crowd, a number of the Tiger-affiliated managers tend to have more than half of their portfolio overlap with another fund, thus unintentionally tying their fates to many of the same stocks…
Castle Hall Alternatives launches online due diligence platform (HedgeWeek)
Castle Hall Alternatives has launched OpsDiligence, an online platform allowing investors to build due diligence programmes across all asset classes, including hedge fund, private equity and long only portfolios. “OpsDiligence offers a new solution to the challenges of investor due diligence,” says Chris Addy, Castle Hall’s president and chief executive. “As the operational due diligence process has matured, investors now require a flexible, risk based approach, coverage across all holdings, irrespective of asset class, and a far more sophisticated technology platform. OpsDiligence delivers across all these criteria.”
Hedge Fund Sancus Adds Ex-Goldman Quant. (Finalternatives)
Credit specialist Sancus Capital has hired a new head of business development and investor relations. Shelly Baldwin joins the hedge fund from Varadero Capital, where she also worked in I.R. The move reunites her with Sancus founder Olga Chernova, with whom she worked at Goldman Sachs Group, Inc. (NYSE:GS). Baldwin was a quantitative analyst at the bank, and Chernova head of U.S. correlation.
SAC Capital to move to smaller, family-based office in accord with SEC (Reuters)
Steven A. Cohen‘s hedge fund SAC Capital and several affiliates reached a deal with U.S. securities regulators on Friday to wind down their operations and transition into a smaller, family-based business, according to a regulatory filing. The settlement with the Securities and Exchange Commission was widely anticipated. It comes after SAC Capital and several other units pleaded guilty to criminal charges of wire fraud and securities fraud last year.
Survey: Investors Partnering With Hedge Funds In New Trend (HedgeCo)
Investors have begun striking up partnerships with hedge funds, underlining the closer collaboration taking place between the hedge fund industry and its investor base, according to a new survey by the Alternative Investment Management Association (AIMA), the global hedge fund industry association, and Barclays. According to the new survey of investors and managers, called ‘The Extra Mile: Partnerships between Hedge Funds and Investors’, partnerships of varying forms between hedge funds and their investors are becoming increasingly common.
Cash not always king: Cramer (CNBC)
Hedge Funds Ramp Up Oversight Automation In Face Of New Regulations (HedgeCo)
According to research from Milestone Group, 40 percent of North American asset managers feel that their current operation is unprepared to meet anticipated regulatory changes, driving a desire to increase automation. “Managers need automation, as it reduces error.” Joe Holman, CEO of $30 billion global hedge fund group Orangefield Columbus, said. “However, the risk of implementing a program exceeds the tolerance of the manager as there are so many software programs that falsely promise accuracy. Why take a chance on unknown software when you can easily outsource to proven service providers that provide automation? Outsourcing allows managers to focus on the fund, while service providers stay on top of the regulatory changes.”
Under the hood of hedge fund leverage (PIOnline)
One of the key differentiators between hedge funds and other investment vehicles is the use of leverage. Leverage can be your best friend one day, and your worst enemy the next. Everyone knows that leverage will accentuate both gains and losses. However, less is known about how hedge funds actually obtain and incorporate leverage into their portfolios and how investors should monitor a hedge fund’s use of it. In considering these details, an investor should have a foundational understanding of the two types of leverage: explicit leverage and implicit leverage. These two broad categories of leverage might affect the portfolio in different ways, both off and on the balance sheet…
StormHarbour Invests In Japanese Hedge Fund Asuka (Finalternatives)
Investment bank StormHarbour securities has bought a large stake in hedge fund Asuka Asset Management, three years after the Tudor Investment Corp. spin-off bought a stake in StormHarbour. StormHarbour has agreed to buy 49% of Japan’s Asuka, Bloomberg News reports. As part of the new arrangement, Asuka CEO Mamoru Taniya will become a managing principal at StormHarbour in charge of its asset management business. StormHarbour last year hired a former Morgan Stanley (NYSE:MS) executive, Kazunobua Ezawa, to pursue expansion through acquisition in Asia, especially Japan. Asuka has about ¥20 billion (US$200 million) in assets under management and boasts a primarily Japanese client base.
Fitch Affirms Sciens’ Asset Manager Rating at ‘High Standards’, Revises Outlook to Positive (Reuters)
Fitch Ratings has affirmed Sciens Fund of Funds Management Holdings Ltd.’ (Sciens) at ‘High Standards’ and revised the Outlook to Positive from Stable. The rating covers Sciens’s Fund of Hedge fund (FoHF) and Managed Account Platform (MAP). KEY RATING DRIVERS The affirmation is driven by the overall stability of Sciens’s business in 2013 and 2014 to date. Notably, Sciens has maintained a stable level of staff relative to the turnover in prior years.
Famed Investor Jim Rogers Joins Liquid on Their Plantations (PRWeb)
Liquid Investments look forward to seeing Jim Rogers as well as existing and prospective clients, at their much anticipated Plantation Tour and Conference in September 2014. The Largest Plantation Tour & Conference Yet – An Opportunity Too Good To Miss Investors will have the chance to meet Jim Rogers and Anthony J. Archer, Liquid’s Founder and CEO together in Brazil, at their intimate annual investment conference to be held in Fortaleza, and at Liquid’s plantations located a couple of hours up the coast.
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