Monday, June 11, 2007

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 Top Stories


Four Ways To Gain Hedge Fund Exposure On The Public Market
Source: SeekingAlpha
Alternative asset class exposure and increased alpha are two big reasons many investors are demanding access to hedge funds. Traditionally restricted to accredited investors (i.e. people with huge amounts of money), there are increasing ways for the regular public to gain access to hedge funds. More...

Activist hedge funds crank up the pressure
Source: MarketWatch
Barclays has become the latest European firm to face a rising tide of shareholder activism after hedge fund Atticus Capital called on the U.K. banking giant to drop its bid for Dutch rival ABN Amro. More...


Hong Kong to simplify licensing of hedge funds
Source: Reuters UK
Hong Kong's securities watchdog said on Monday it is simplifying licensing requirements, with immediate effect, for overseas hedge fund managers looking to set up in the territory. More...

Ex-US officials swell hedge funds' ranks
Source: Business Times
What do three former US Treasury secretaries, one time secretary of state Madeleine Albright, a former US ambassador to the United Nations and ex-Spanish prime minister Jose Maria Aznar have in common? More...

More of Today's Stories continued below...  or  Today's Stories unabridged on the web

  Term of the Day & Related News

Distressed Securities

Distressed securities are securities of companies that are either already in default, under bankruptcy protection, or in distress and heading toward such a condition. The theory behind investing in these securities is that they often trade at discounts to a rational assessment of their risk-adjusted value for a variety of reasons. The psychological effect of a bankruptcy filing may lead to undervaluation, for example. Or institutional investors often have policies that prevent them from investing in such circumstances, and that automatically means a lessening of demand for the instruments, which may again lead to undervaluation. Distressed Securities have also been defined as securities, if not in default, that have a Yield to Maturity in excess of 1000 basis points over the riskless rate of return. More...
 
Related News:

Man Group to expand in distressed investments
Source: Reuters Italia
Man Group, the world's largest listed hedge-fund company, plans to expand its investments in distressed companies, Chief Executive Peter Clarke said on Wednesday.

"We are looking for people in distressed," Clarke told Reuters. "We view distressed as an area where we're planning to grow." He declined to provide specific expansion targets.
More...

Distressed Vet Turns Marketing Chief At Group G
Source: FINalternatives
Alternatives firm Group G Capital Partners has added a distressed securities expert to lead its marketing and business development strategies.
More...

  Scholarly Article & Related News

The Influence of Political, Economic and Financial Risk on Expected Fixed Income Returns
by Claude B. Erb, Campbell R. Harvey, & Tadas E. Viskanta
Is there information in the commonly used indicators of country risk for expected global fixed income returns and volatility? We examine the information content in publicly available measures of political, financial and economic risk. We find that these ex-ante measures contain important information about the cross-section of expected fixed income and currency returns.
More...

 
Related News:

Inflation-Protected Yield Investing
Source
: Forbes
United States Treasury inflation-protected securities (TIPS) are a simple and effective way to eliminate one of the most significant risks to fixed-income investments--inflation risk--while providing a real rate of return guaranteed by the United States government. As such, it is worthwhile to fully understand how these instruments function, behave and can be incorporated into an investment portfolio.
More...

Henderson to float new fixed-income fund
Source
: Reuters Italia
Henderson Global Investors Ltd said on Monday it intended to float an investment company for fixed-income asset classes and wants to raise up to 300 million pounds through a share placing and offer for subscription. More...

  Top Stories by Category
  Book of the Day & Related News

   
Derivatives: Valuation & Risk Management
by David A. Dubofsky, Thomas W. Miller
Average Customer Review: 5.0 
out of 5 stars
Price: $76.50
 
Book Description
Enables students to acquire a strong working knowledge and thorough understanding of the rapidly growing field of financial derivatives. Ideal for both undergraduate and graduate classes on derivatives, financial risk management, futures, or options.

Related News:

CBOE latest to add credit derivatives
Source: FinancialNews-US.com
The Chicago Board Options Exchange has become the second US market this week to receive regulatory approval to list and trade credit derivatives.
More...

ITG moves into derivatives with RedSky buy
Source
: Pensions & Investments
Investment Technology Group is acquiring RedSky Financial, a multiasset broker and futures commission merchant, for $22 million in cash, according to a news release. The deal will give agency broker ITG an entry into derivatives at a time when they are increasingly part of diversified portfolios. More...

 

  Personal Interest


2007 French Open Review
Source: Wimbledon.org
It was the final everyone had waited for since the draw was made more than two weeks previously (actually, if truth be told, it was the final everyone had waited for since this time last year). And it was the result everyone had expected from the moment they saw Rafael Nadal crush Novak Djokovic in the semi final. More...


It's a European Union As 'Awakening' and 'Utopia' Rule Tonys
Source: The Washington Post
The 19th century was the period to celebrate at the Tony Awards last night, as a musical and a trilogy of plays all set in Europe in the 1800s carried off top honors at the 61st annual ceremony, an event recognizing the best of the Broadway season. More...

 

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   Top Stories (Continued)


Agecroft Hires Director, Preps For First Hedge Fund Clients
Source: FINalternatives
Hedge fund third-party marketing firm Agecroft Partners has hired James Hart as a director. Hart’s new responsibilities will include overseeing due diligence on potential hedge fund clients and introducing the firm's clients to large institutional investors located within the United States. More...

Build Your Own Hedge Fund
Source: Forbes
One way around obscene fees charged by hedge funds: ProShares' new ETFs. With them you can design your own simple--and cheap--hedges. More...


Hedge fund Scipion to launch Africa fund
Source: Reuters Africa
Hedge fund Scipion Capital is launching a fund on July 1 to invest in African equities, capitalising on growing demand for African stocks. More...

Hennessee: Hedge Funds Now Trail S&P In ‘07
Source: FINalternatives
With the Standard & Poor’s 500 reaching record heights last month, hedge funds had a tough act to follow. They didn’t. More...

Institutional Investor Launches Beta Version of Hedge Fund Search Tool Powered by Convera
Source: Earthtimes.org
Institutional Investor, a leading financial international business to business publisher, today publicly launched the beta version of a new vertical search engine for the hedge fund industry. The search engine is powered by Convera Corporation - - http://www.convera.com/ -- a leading provider of vertical search services for publishers. More...

McVey Quits as Morgan Stanley Investment Strategist (Update7)
Source: Bloomberg
Henry McVey resigned as chief U.S. investment strategist at Morgan Stanley after 12 years with the second-largest securities firm to join an investment company. More...

UK hedge fund targets Corporate Express
Source: FT Alphaville
Corporate Express, one of the world’s biggest office products suppliers, may be the next Dutch company to come under pressure from activist investors after regulatory filings disclosed that Centaurus, the UK hedge fund, had built an influential stake. Centaurus owned 5.02 per cent of Corporate Express voting rights on June 7, according to the Dutch securities regulator. More...

German Chancellor Merkel still wants to tighten hedge fund oversight - report
Source: Forbes
German Chancellor Angela Merkel plans to renew her efforts to tighten hedge fund regulation despite the failure to reach agreement on the matter at last week's G8 summit, Spiegel magazine reported without citing its sources.
More...


Today's Stories unabridged on the web
 

 
   Today's Humor

A grasshopper goes into a bar and hops on to a barstool to order a drink. The bartender says "You know, we have a drink named after you?

The grasshopper replies, "Really! You have a drink named Eddie?"

 

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