Break up Du Pont: Trian Fund (GantDaily)
In a letter sent to DuPont’s Board of Directors, Trian Fund Management LP urged that DuPont be split up in order to be more competitive. The hedge fund established by billionaire Nelson Peltz, lauded the recent efforts of the company to shed non-core businesses, but said more needs to be done. This is but another sample of an activist investor stirring things up in order to bring change to help in driving up the value of the shares owned…
Adidas shares jump on report of hedge fund activism (Reuters)
Shares in sportswear maker adidas AG (ADR) (OTCMKTS:ADDYY) jumped on Wednesday on a report that a group of hedge funds is seeking to buy a stake to pressure management to make sweeping changes, although one of the funds dismissed this. Germany’s manager magazin said hedge funds including Knight Vinke, Third Point and TCI were considering buying stake in the world’s second-largest sportswear company, driving a 4 percent jump in its shares.
Emerging hedge fund managers lead industry gains (Opalesque)
Emerging hedge fund managers have led industry performance over the past year, as equity markets have extended gains, investor risk tolerance has escalated and total hedge fund capital has increased to a record level. Emerging hedge fund managers with a track record of less than two years have posted an average gain of +11.3 percent in the trailing 12 months ending 2Q14, topping the gain of +9.1 percent for the HFRI Fund Weighted Composite, as reported in the latest HFR® Market Microstructure Industry Report, released today by HFR, the established global leader in the indexation, analysis and research of the global hedge fund industry.
Saba Fund Drops as Weinstein Heads for Third Losing Year (BusinessWeek)
Hedge-fund manager Boaz Weinstein posted declines for a seventh straight month in August as his firm heads for a third year of losses. His Saba Capital Management LP fell 1.6 percent last month in its credit fund, according to an investor letter obtained by Bloomberg News. The fund climbed 0.6 percent this month through Sept. 12, curbing its annual decline to 4.5 percent, according to a separate client update. Weinstein, the former co-head of Deutsche Bank AG (USA) (NYSE:DB)’s credit business, started Saba in 2009 to exploit swings in market prices.
Capita Buys Hedge Fund Services Specialist Throgmorton (Finalternatives)
Capita Asset Services has acquired hedge fund service provider Throgmorton for an undisclosed amount. Throgmorton is one of the leading specialist accountancy and back office service providers to the financial services industry, with a particular focus on the alternative asset management sector. Its clients include more than 300 hedge fund managers, private equity firms and corporate finance boutiques both in the UK and the U.S. It was established in 1999 to provide outsourced company secretarial services and now also offers accounting, tax, HR, payroll and health & safety services.
Nightly Business Report: Public pensions & hedge funds (YouTube)
