A bigger slice of the multiasset pie (PIOnline)
Hedge fund and hedge funds-of-funds businesses are accounting for a more meaningful piece of the total assets managed by some of the largest multiasset money managers as well as their balance sheets. The message has finally sunk in: Big, traditional asset managers are not going to be able to survive without finding more lucrative sources of revenue,” said Daniel Celeghin, a partner at management consultant Casey, Quirk & Associates LLC, Darien, Conn.
Cohen Gains, Paulson Loses as Fiscal Policy Roils Markets (BusinessWeek)
Steven A. Cohen and Ken Griffin posted gains in their hedge funds in November, a month marked by market volatility following the U.S. elections and fiscal policy talks in the U.S. and Europe. John Paulson lost money in most of his funds. Cohen gained 1.1 percent in his SAC Capital International fund in November and the main funds of Griffin’s Citadel LLC rose 2 percent, according to people briefed on the returns who asked not to be named because the information is private. Paulson lost 6.5 percent last month in the Advantage Plus Fund and 12 percent in the Gold Fund, according to another person, as the price of gold fell.
Man CEO Clarke Makes Way For Roman Empire (Orange)
The chief executive of Man Group, the FTSE-250 hedge fund manager best-known for sponsoring the Booker Prize, will announce this week that he is stepping down in the wake of the dismal performance of its flagship fund. I understand that Man could say as early as today that Peter Clarke, who has run the company since March 2007, will retire early next year. He will be replaced by Emmanuel Roman, Man’s chief operating officer, who joined when his own firm, GLG Partners, was taken over by Man two years ago.
Even Regulators and Investment Professionals Don’t Get Hedge Funds (Hedged)
Hedge funds don’t make investors rich, they preserve the wealth of the investor who is already rich. Most hedge funds are aware of and carefully manage downside risk and volatility. Long only mutual funds have benchmarks to which they tend to cling. A volatile benchmark can seriously injure an investor’s portfolio. Given that hedge funds are in fact lower return and lower risk, why is it that both regulators and professional intermediaries both consider them to be more risky than long only mutual funds? This is fact. Ask any regulator or professional investment intermediary and they will always allocate more hedge fund exposure to aggressive risk client’s portfolios and less exposure to conservative client’s portfolios.
Influential economist to tout PH gains at investment summit (ABS-CBNNews)
World-renowned economist Dr. Nouriel Roubini will tout the gains of the Philippine economy at the Philippine Investment Summit in January. Roubini, co-founder and chairman of Roubini Global Economics and economics professor at New York University’s Stern School of Business, will give the keynote address at the Philippine Investment Summit in Makati City on January 30. Roberto Juanchito Dispo, president of First Metro Investment Corp., said the summit will be attended by foreign bankers, investors, fund managers and businessmen.
Horizons ETF Wins William F. Sharpe Award for Best ETF Innovation (DigitalJournal)
The Horizons Morningstar Hedge Fund Index ETF (“HHF”), a Canadian-listed ETF offered by Horizons Exchange Traded Funds Inc., (“Horizons ETFs), which gives investors exposure to the Morningstar® Broad Hedge Fund IndexSM (the “Index”), has been awarded one of the prestigious 2012 William F. Sharpe Indexing Achievement Awards. Winners of the 2012 William F. Sharpe Indexing Achievement Awards were announced during the Global Indexing & ETFs conference in Phoenix, Arizona. HHF was given the award for Best ETF Innovation, which recognizes outstanding innovation in ETF development.
