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  • Archive

    Archive for 'hedge funds'

    So you want to setup a P/E shop?

    Very interesting interview from Knowledge@Wharton:
    The market events of August 2007 ended a robust 2003-2007 fundraising cycle. Currently, sentiment is one of caution. Thematically, investors are seeking counter-cyclical and risk-mediating investment strategies, such as distressed/turnaround and mezzanine. At the same time, investors recognize that their 2001-2003 fund investments outperformed due to the market conditions. Now may [...]

    SAT’s and Hedge Fund Return

    The new standard of diligence for hedge funds: any recent family member deaths and what was their SAT score? Higher SAT scores translate into higher returns:
    The researchers found a “strong positive relation” between a hedge fund’s performance and the average SAT score at its manager’s school. To put the relationship into context, the researchers offer [...]

    “Rats Flee Sinking Ships” - Hedge Fund Withdrawals Reach 7-Year High

    Dealbreaker for headline and link:
    Hedge funds, which have an estimated $1.9 trillion in assets combined, saw investors sell off an estimated $32 billion worth in July, said a report Tuesday.
    The outflow was the largest since 2000, according to a monthly report by TrimTabs, an investment research firm. The August outflow could be even greater, the [...]

    Iraq’s First Hedge Fund

    $100 million! From the WSJ:
    Iraq Fund LLC, Iraq’s first hedge fund, aims to raise as much as $100 million within 18 months for investment in companies listed on the local bourse and in state enterprises, a company official said.
    The fund, launched despite the ongoing violent conflict in the country, primarily targets undervalued, Iraq Stock Exchange-listed [...]

    Hedge Fund Strategy of the Month - Fixed Income Arbitrage

    From the Financial News linked in FierceFinance:
    The fixed income arbitrage index was up 0.31%. Each of the other nine strategies covered by Credit Suisse/Tremont lost money over the same period.The overall investable hedge fund index published by Credit Suisse/Tremont was down 1.54% for the first two weeks of August.
    However, many individual hedge funds following the [...]

    Buying at the Peak

    Hedge fund assests increased to record levels last quarter just in time to catch the coming decline:
    Total hedge fund asset levels increased by 8% in the second quarter of 2007, to $2.593 trillion from $2.401 trillion in the first quarter of 2007, according to a report by HFN (HedgeFund.net).
    The Q2 2007 HFN Hedge Fund Industry [...]

    They’re All Connected - US Credit Woes Hit Asian Shares

    FT reports:
    Worries about US credit-market losses spreading to the Asia Pacific region flavoured trading Tuesday. Shares generally fell or rose only weakly, with Bangkok, Jakarta, Sydney and Seoul leading the drop.

    On currency markets, the US dollar hit a two-month high against the South Korean won as investors worried about credit and foreigners continued to sell [...]

    MF Financial IPO debuts far below expectations

    The broking unit of Man Financial Group plc floated its IPO yesterday. It didn’t go over so well, apparently.
    MF Global came to the market at $30 per share, raising $2.9 billion for the 80% stake sold. That fell appreciably below the bottom end of the $34-$37-per-share range announced earlier. Worse, the stock stumbled on [...]

    WSJ: Bloodbath in ABX

    From the MarketBeat Blog:
    Worries about subprime lending drove the riskiest tranche of the closely-watched subprime ABX derivative index to a record low of 44 cents on the dollar today — understandable, given everything that’s gone on in the subprime sector.
    But higher-quality tranches of the ABX also took an ugly haircut today — the AAA-rated section [...]

    Wall St On Edge and Scrambling To Avoid Sub-Prime Domino Effect

    From BusinessWeek:
    It’s white-knuckle time on Wall Street as firms try to prevent the subprime mess from spreading. The hedge fund blowup has suddenly thrown the world’s biggest financial institutions into a game of brinkmanship that will end in one of three ways: a quick, brutal crash of the subprime mortgage market and possibly the broader [...]