Group Releases Concept Paper On Hedge-Fund Valuations Hedge-fund managers should prepare for some probing questions. Amid growing concern about the way these private investment pools value their holdings, a group of executives from the asset management, broker-dealer and insurance industries has produced a document designed to help investors evaluate a manager's pricing policies. "Valuation Concepts for Investment Companies and Financial Institutions and Their Stakeholders" was released for public comment last week by the Investor Risk Committee of the International Association of Financial Engineers. http://news.morningstar.com/news/DJ/M11/D26/1069882863274.html
Clinton Group moves to reassure investors Clinton Group, the $4bn hedge fund group caught up in a securities valuation dispute, has - in an attempt to stem outflows - sent a letter to investors stating that pricings on its assets "were consistent with industry practice". The firm also told its clients in an e-mail it was pushing back its redemption deadline - due next Monday - for a second time, giving investors another week to decide whether or not they want to stay invested with the firm. The group, which runs six hedge funds, has been struggling to reassure investors after the departure of Anthony Barkan, manager of its asset-backed securities team, who quit last month. http://news.ft.com/servlet/ContentS...StoryFT/FullStory&c=StoryFT&cid=1069493560528
Bernstein Liebhard & Lifshitz, LLP Announces Class Action Lawsuit Commenced Against Fred Alger â¦.Further, the mutual fund prospectuses for the funds at issue created the misleading impression that mutual funds were vigilantly protecting investors against the negative effects of timing. In fact, the opposite was true: defendants sold the right to time their funds to Veras and other hedge fund investors. The prospectuses were silent about these arrangements. http://www.marketwire.com/mw/release_html_b1?release_id=60532
PFG Announces CTA Challenge 2003 Winners Peregrine Financial Group, Inc. (PFG), in cooperation with Trader Source, Inc. (TSI), today announced Villano Capital and Arthur Aschauer as the winners of the "CTA Challenge 2003." The Challenge began in May 2003 and ended on October 30. It was the first product of the alliance between PFG and TSI, an initiative to develop emerging Commodity Trading Advisors -- those managing less than $10 million in assets. Villano Capital achieved a 26.39 percent total risk-adjusted return for the six-month period, with 1.28 percent daily standard deviation. Villano Capital traded a global diversified, systematic, trend-following program that uses 60 different futures contracts. http://biz.yahoo.com/prnews/031125/cgtu037_1.html
Investors Add Record $24.6 Billion To Hedge Funds In 3Q Hedge fundsâ¦pulled in $24.6 billion in the July- September period, according to Tremont Capital Market's TASS Research unit. That topped the previous record of $13.8 billion, bringing total inflows for the year to a record $45.4 billion. By comparison, hedge funds around the world pulled in $16.3 billion for all of 2002. http://news.morningstar.com/news/DJ/M11/D24/1069711869377.html
SEC may soon target hedge funds â¦Meanwhile, in an interview on CNBC, Donaldson said the SEC staff has recommended these funds be required to register with the commission and provide information about their holdingsâ¦.The SECâs move to register hedge funds âgives us the right to go inside ... and see exactly what is going on,â he told CNBC. âWe have to anticipate more, we have to be able to look around the corner. And in this case, we are seeing that hedge funds are having an impact ... on mutual-fund shareholders.â Donaldson said the SEC is not interested in forcing disclosure of proprietary investment strategies of hedge funds â which typically are open only to wealthy investors â but the agency does need to know more about how hedge funds are valuing their holdings. http://www.msnbc.com/news/997485.asp
Hedge funds` role grows in foreign exchange market "The composition of flows in the FX market has changed as markets have become dominated by real and leveraged accounts' investment decisions, while commercial flows (long-term foreign inflows) have become less important," said Hans Redeker, global head of FX strategy at BNP Paribas. â¦"Hedge funds are definitely a major influence in this market although you cannot quantify their presence because they have different reporting requirements.. http://www.reuters.co.uk/newsArticle.jhtml?type=topNews&storyID=3845580