The mutual fund industry will let its hair down this year, introducing ever more exotic, hedge-fund-like products that make even greater use of complicated vehicles such as derivatives, according to some industry experts.
Pacificor has named portfolio manager Andy Mitchell to helm the hedge fund after Michael B. Klein, former CEO, died after his private plane crashed in Panama on Sunday.
Burned in the aftermath of Bear Stearns’ two collapsed hedge funds, Barclays has sued the firm and a pair of its fund managers.
The number of hedge fund launches and liquidations are off at a 25% annual rate for the second consecutive year, according to HFR.
CEO and CIO were the best-compensated positions at hedge funds of funds in 2007, according to an Infovest21 survey.
Tudor Investment clients have pulled more than $1 billion from its Raptor hedge fund after it fell 8.5% this year.
The hedge fund run by RK Capital Management of London lost 22% in November as copper prices fell.
Greenwich reported significantly smaller losses than the S&P 500, Dow Jones and Nasdaq indexes.
The Hennessee Hedge Fund Index fell by 1.58% in November, but remains up 11.94% year-to-date.
Despite the market's current volatility, the love affair between ultrawealthy investors and hedge funds is still torrid, according to a new survey by the Institute for Private Investors, a New York-based association for very wealthy families and their advisers.
Hedge fund assets have increased by 11% in the past six months, according to HFM.
Hedge fund returns fell November, reflecting declines in the major stock markets, the credit crunch and concerns about business slowdowns.
The regulator is investigating whether financial entities are investing in hedge funds in order to share inside information.
Investors in Bear Stearns' two collapsed hedge funds have filed arbitration claims against firm, according to Reuters.
Last year, returns at the fund topped 30% after it took over some assets from Amaranth Advisors.
Goldman Sachs is aiming to raise up to $6 billion in an effort to patch up the tattered reputation of its hedge fund business.
The now-defunct hedge fund claims that JPMorgan Chase & Co. hindered its efforts to avoid collapse.
And the index has increased 12.75% year-to-date, marking the best performance for the first ten months of the year since 2003.
The Chicago-based private-equity and hedge fund firm posted a net loss of $37.6 million, or 52 cents a share.
Timothy Sykes, the boy wonder investor, who turned $12,415 in bar mitzvah money into $1.65 million by trading stocks, started and folded his own hedge fund. Then he wrote a book about his experiences. Now he is embarking on a new venture.
