Hedge Funds
The latest hedge funds news to help advisors understand how these alternative investments can help boost portfolio returns and reduce risk.
CalPERS Consents to Disclosure
By Staff WriterSACRAMENTO, Calif. (HedgeWorld.com)--Seeking to strike a balance between disclosure and access, the US$177 billion California Public Employees' Retirement System reached a settlement with a First Amendment organization whereby the retirement fund will disclose profits earned and management fees and other costs paid to a host of hedge fund and private...
December 01, 2004
PIMCO funds: total return/i800-426-0107 www.pimcofunds.com Ticker: PTTRX Manager: William Gross Manager's tenure: 17 years Fund started: May 1987 Min. initial invest.: $5 million Load (front-end): 0.00% 12(b)-1 fee: 0.00% Net assets: $44.2 billion P/E ratio: NA P/B ratio:...
November 29, 2004
Former BofA Exec Markets New Prime Brokerage OfferingsNEW 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
Hamilton Lane Gets on Hedge Fund BandwagonNEW YORK (HedgeWorld.com)--Following a well-established trend of hedge fund mergers and acquisitions, private equity manager Hamilton Lane of Bala Cynwyd, Penn., agreed to buy a controlling stake in New York-based Richcourt Group, a fund of funds firm. The transaction should be completed in 15 days. Richcourt, managing more than US$1.5...
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 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...