Alternative Investments
The latest news and developments about alternative investments and how they can help boost portfolio performance and reduce risk
Former BofA Exec Markets New Prime Brokerage Offerings
By Staff WriterNEW YORK (HedgeWorld.com)--Steve Vermut, former president and chief executive for Banc of America's prime brokerage business, is launching his own prime brokerage and performance-reporting business, Merlin Securities, targeted to hedge funds. In launching his new business, Mr. Vermut will rely on his extensive experience in the hedge fund industry. Mr....
November 29, 2004
The Case for Edge Funds"The difference between stupidity and genius is that genius has its limits."--Albert Einstein Many years ago, I took a girlfriend to Bermuda. There we met a lecherous English playboy married to what turned out to be a fabulously wealthy daughter of really old money. We figured this out when we...
November 29, 2004
AMG Buys Stake in AQR Capital ManagementBOSTON (HedgeWorld.com)--Affiliated Managers Group has taken the hedge fund plunge and acquired an equity interest in hedge fund manager AQR Capital Management, Greenwich, Conn. The price AMG paid was not disclosed, but an analyst at Prudential Equity Group was reported to estimate it at US$80 million to US$100 million, or...
November 24, 2004
Financial Services At The Center Of M&A PartyWith private equity giant Blackstone Group taking over Equity Office Properties Trust, Nasdaq Stock Markets bid for the London Stock Exchange, and Bank of America's plan to buy Schwab's U.S. Trust division, financial services are in the thick of the merger-mania that is sweeping global markets.
November 22, 2004
PBHG Funds Founders Settle Market Timing CaseNov. 17, 2004 -- The founders of the PBHG mutual funds agreed to pay $160 million in restitution and fines and to accept a lifetime...
November 22, 2004
Morgan Stanley Investment Chief: Hedge Funds Have Become Volatility-ShyNEW YORK (HedgeWorld.com)--After years of being considered synonymous with excessive risk, hedge funds are now avoiding it and becoming more like mutual funds, a hedge fund veteran said Wednesday. According to Morgan Stanley Managing Director and Senior Investment Strategist Byron Wien, there has been a philosophical shift in the industry...
November 22, 2004
Hedge Fund Asset Flows Pass US$100 Billion Mark, TASS Research SaysNEW YORK (HedgeWorld.com)-- According to research compiled by Tremont Capital Management Inc.'s* TASS Research, the net flow into hedge funds totaled US$25.1 billion in the third quarter, a figure that brings the net inflow of assets to the industry to a record-breaking US$100 billion for 2004. For all of 2003,...
November 22, 2004
SEI Seminar Urges Hedge Funds to Comply with New SEC RulesOAKS, Pa. (HedgeWorld.com)--The Securities and Exchange Commission's new rule isn't effective until Feb. 1, 2006, but some are advocating advance preparation regardless of the legal challenges reportedly in the works. The SEI Knowledge Partnership, an effort on the part of SEI Investments' investment manager market unit to analyze business and...