Harris 'Restructures Himself Offshore,' Accounts Frozen
By Staff WriterCHICAGO (HedgeWorld.com)--The Honorable Blanche M. Manning, of the U.S. district court for the northern district of Illinois, has ordered the assets and accounts of Charles L. Harris, Winnetka, Ill., frozen and prohibited the destruction of the books and records pertaining to his hedge fund, Tradewinds International LLC. Judge Manning acted...
September 10, 2004
There's a Bear in This Election: The Affluent InvestorCHICAGO (HedgeWorld.com)--The Spectrem Group reported that its Spectrem Affluent Investor Index dropped in August to its lowest level since February on concerns about the U.S. presidential election and higher fuel prices. The index measures the bullish or bearish sentiments of U.S. households with US$500,000 or more in investment assets. This...
September 10, 2004
NQLX to Suspend Trading in All Security Futures ProductsNEW YORK (HedgeWorld.com)--NQLX LLC, the single-stock futures exchange that is a wholly owned company of Euronext.liffe, announced that it would suspend trading in all of its security futures products following the expiry of the December 2004 contracts on Dec. 17. NQLX has struggled for some time. In December 2003, it...
September 10, 2004
Arundel Partners Lists Funds, Targets SIPPsLONDON (HedgeWorld.com)--Arundel Partners Ltd. will list shares of two of its funds of funds--the Arundel Premier Fund and the Arundel Fixed Income Fund--on the Irish Stock Exchange. The purpose of the listing, according to Arundel Partners officials, is to make both funds suitable for Self-Invested Personal Pension accounts, or SIPPs....
September 10, 2004
Man Group Stock Bounces Up after Long Downward TrekLONDON (HedgeWorld.com)--Man Group plc* stock has gained around 10% in the past month or so, possibly reversing the losing trend that became apparent since April of this year. Man shares rode up in 2003, together with other financial companies, reaching more than 1,850 pence (US$32.80) in April 2004. From then...
September 10, 2004
Pro-Hedge Launches FundTORONTO (HedgeWorld.com)--Pro-Hedge launched a new hedge fund that will charge no management fees in any quarter with negative returns. Company officials, who hail it as a first for the fund business, are selling the new Pro-Hedge Capital Preservation Fund on its "no-fee guarantee." The fund is a low-risk, multi-strategy, multi-manager...
September 10, 2004
Parent of Thomas Weisel Asset Management Settles SEC ChargesSAN FRANCISCO (HedgeWorld.com)--Thomas Weisel Partners LLC, a brokerage firm and investment bank, concluded a settlement with the Securities and Exchange Commission resolving charges that relate to the inappropriate influence allegedly exerted by its investment bankers upon its research analysts. The SEC's complaint alleged that Thomas Weisel Partners analysts participated in...
September 10, 2004
Renaissance Favors Selectively Extending SEC's Financial Statement DeadlineNEW YORK (HedgeWorld.com)--Multibillion-dollar hedge fund firm Renaissance Technologies Corp. officially joined the ranks of those criticizing one particular aspect of the Securities and Exchange Commission proposal to require that hedge fund managers register as investment advisers. In a Sept. 7 letter to the SEC, Renaissance Vice President Mark Silber wrote...