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Nordic hedge fund managers on the U.S. downgrade

August 11th, 2011 by alexakesson

Here’s a excerpt from an article we did with some top Nordic hedge fund managers, asking them to comment on Standard & Poor’s downgrade of U.S. government bonds from AAA to AA+.

André Havas, Head of Investor Relations Optimized Portfolio Management Stockholm AB: “The world has not recovered fully from the financial crisis that started in 2007. Many of the risks that existed in the various markets are beginning to materialize, the consequences are apparent.

“What began with a banking crisis has now rubbed off on to individual countries. Both the credit crisis and the subsequent state debt crisis is by no means a new phenomenon. PIGS countries’ high budget deficits and high debt, combined with a disconnected economic credit expansion, has been under discussion since the mid 1990′s.”

Daniel Broby, Chief Investment Officer at Silk Invest Ltd: “Sadly, the downgrading of the US sovereign credit rating should have taken no-one by surprise, other than the Congressional Budget Office and a few wrong footed politicians. Whether net public debt is 79% or 81% by 2015 is neither here nor there. It is too much and it is fiscally irresponsible not to have a long term plan to bring it under control.

“The recent debt ceiling spat took saw politicians bring the US to the brink of a selective default on a technicality. That is not what one expects from a risk free rate. The US no longer deserves a AAA rating. In that respect, I note that the AA+ rating is still on negative watch.”

The full article is available at: Nordiska Hedgefondforvaltare Kommenterar<

Most hedge fund managers chose not to respond.

By Alex Akesson

Editor at Nordic Business Media

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Hedge Fund Boosts Red Cross Flood Relief

August 20th, 2010 by alexakesson

Hedge fund service organization Harris Financial Corp., is supporting the Red Cross flood relief and recovery efforts in Pakistan with a $100,000 contribution from the bank’s parent company, BMO Financial Group.

via News From HedgeCo.Net

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Eurekahedge Monthly Hedge Fund Highlights

August 19th, 2010 by alexakesson

The August 2010 Eurekahedge Report shows positive asset flows for hedge funds across all regions in July, bringing the total assets under management by global hedge funds to US$1.53 trillion.

European hedge funds, however, saw inflows of US$6.4 billion while the total net flow in July was US$10.4 billion.

via  Hedge Fund News.

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Book Review: “Guide to Fund Management”

August 16th, 2010 by alexakesson

There is a new book on the market for those who are planning to set up their own hedge fund. Daniel Broby’s “A Guide to Fund Management” is published by Risk Books, a specialist in hedge fund and risk related publication.

“I wanted to capture all aspects of running a firm in one book.” Daniel Broby, Chief Investment Officer at Silk Invest, said, “I have spent far too much of my career reading industry white papers and compliance manuals. I wrote the sort of book that I wanted to buy when I first became a Chief Investment Officer over ten years ago.”ť

via  HedgeCo.Net Hedge Fund News.

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People Moves: Peter J. de Marigny Joins Quant Risk Group Hedge Fund Analytics

August 16th, 2010 by alexakesson

ABC Quant, part of Quant Risk Group Hedge Fund Analytics companies, has hired Peter J. de Marigny, manager of Equity Hedge “DITMo Strategies”ť to represent “QUANT SUITE” as VP Business Development, West Coast.

via Hedge Fund News From HedgeCo.Net

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Hedge Fund Broker Lighthouse Suspends Trading Activities

August 4th, 2010 by alexakesson

New York-based Lighthouse Financial Group has suspended their trading activities until further notice, effective August 3rd 2010, according to the hedge fund brokers’ website.

via Hedge Fund News From HedgeCo.Net.

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Hedge Fund Association To Sponsor AT&T Cycling Championship

August 3rd, 2010 by alexakesson

The AT&T USA Cycling Professional Criterium National Championship at the Glencoe Grand Prix is being sponsored this year by The Hedge Fund Association, a not-for-profit international educational and philanthropic group. The race will be be held Saturday August 14, 2010 in the village of Glencoe, Illinois.

via Hedge Fund News From HedgeCo.Net

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Hedge Fund Specialist Takes Position at $3 Billion Arts Foundation

August 2nd, 2010 by alexakesson

Marc A. Schwartz has been named chief investment officer of The Broad Foundations’ $3 billion portfolio, working closely with philanthropist and founder Eli Broad.

“Marc’s vast experience in hedge funds, private equity and other similar investments that are consistent with our portfolio makes him a perfect fit,” said Broad. “I am impressed with Marc’s intelligence, drive, instincts and investment success, and we are delighted that Marc will join our team.”

via  Hedge Fund News From HedgeCo.Net.

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Hedge Fund Verno’s Quarterly Review of the Russian Economy

July 30th, 2010 by alexakesson

In its Quarterly Review of the Russian Economy, hedge fund Verno Investment Management mapped out some of the forces that suggest that the macroeconomic picture continues to show signs of gradual improvement.

Recent economic numbers indicate that the worst is over, with growth returning, interest rates coming down, commodity prices supportive and inflation falling.

via Hedge Fund News From HedgeCo.Net.

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Guilty Plea From Hedge Fund Manager In University Ponzi Scheme

July 30th, 2010 by alexakesson

Former hedge fund manager Paul R. Greenwood pled guilty to criminal charges involving a Ponzi-esque scam in which he is alleged to have cheated millions from four university endowments.

The Chronicle For Higher Education reports that Greenwood and his partner, Steven Walsh, may have used the $900 million as a personal fund. Walsh has pleaded not guilty, and Greenwood will testify against him at trial.

via Hedge Fund News From HedgeCo.Net

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