Investment Banks Eye ‘Hedge Funds for the Masses’ (CNBC)
Several investment banks are said to be eyeing the launch of hedge funds for retail investors with minimum investments as low as $1,000 following the launch of a Goldman Sachs Group, Inc. (NYSE:GS) fund in May that raised $58 million in less than two months. Goldman Sachs Group, Inc. (NYSE:GS) became the first major investment bank to launch a multi-manager hedge fund for the retail market, and other banks are said to be planning similar offerings, according to Amy Bensted, head of hedge fund research at alternative asset data provider Preqin.
Hedge funds bullish on global telecom and cable, media and gaming (Opalesque)
A hedge fund manager who attended the latest Opalesque 2013 West Coast Roundtable has expressed a bullish outlook on global telecom and cable, media and gaming industry. Chris Ainsworth COO and CFO of registered investment advisor Maerisland Capital, LLC, said that because the market is enjoying high liquidity, the rise in tide is lifting everything at this point that has created opportunities not only on the long side of investing and riding the wave but also on the short side.
PRECIOUS-Gold inches up on thin trade as stocks ease (Reuters)
Gold edged higher in thin trade on Wednesday as Asian stocks eased and following comments by two U.S. Federal Reserve officials that the central bank’s economic stimulus could continue for some time. But investor sentiment remained dour as outflows from exchange-traded funds continued and demand failed to pick up even though prices remain near three-year lows, indicating the market is expecting further declines. …”I am not convinced this is the bottom,” well-known commodity investor Jim Rogers said at an event in Singapore. “Where that bottom will be I have no idea. Perhaps it will be $900-$1,000.”
Michael Dell Has Been Adviced To Raise Offer For Billionaire Carl Icahn (IVCPost)
Dell Inc. (NASDAQ:DELL)‘s Founder Michael Dell has been advised by experts to raise his current offer of $24.4 billion for the sale of Dell Inc. (NASDAQ:DELL) to billionaire investor Carl Icahn. Despite the advice of the special committee that was formed to assess the best option for Dell Inc. (NASDAQ:DELL) shareholders, Michael Dell was non-committal about the matter, sources said. Billionaire investor, Carl Icahn has said that Michael Dell’s current offer substantially undervalues the company’s worth. Institutional Shareholder Services or ISS is expected to share its view on the Michael Dell offer.
Caxton, Citadel Among Few to Make Money in June (InstitutionalInvestorsAlpha)
June may have been a bust all over, with most market averages — and many hedge fund managers — finishing the month in the red. However, several big-name hedge funds posted strong results or continue to enjoy very good years. One of this year’s top performers is Caxton Global Investment, the fund founded by Bruce Kovner and taken over by Andrew Law in January 2012 and run out of New York-based Caxton Associates. The macro fund was up 2.25 percent in June alone and is now up 15.9 percent at the year’s halfway mark. It is not clear which markets Law made money from or exploited.
