Friday, July 31, 2009

TerraVerde Capital Management launches "Green" fund

According to FINAlternatives, TerraVerde Capital Management has launched a fund of hedge funds that will invest in opportunities focusing on the global reduction of carbon emissions.

Richard Bookbinder, managing member of Bookbinder Capital Management, stated:
“Managers that we invest with have underlying strategies that in someway are investing in company that are doing something to reduce carbon, such as clean energy, clean technology, water, weather, agriculture, carbon/carbon trading, the whole gamut."

Read more here.

Thursday, July 30, 2009

Hedge fund managers look to gold for personal investment

A recent survey found that 20 out of 22 hedge fund managers bought gold as a personal investment to protect their personal fund from inflation.

Jeremy Charlesworth, chief investment officer at Moonraker, stated "Gold is the ultimate currency, performing best when economies are at extremes, whether that is inflationary or deflationary."

Read more here.

Tuesday, July 28, 2009

Is there a need for more transparency in the hedge fund business?

In a recent article at FINalternatives, they interviewed CEO Gerald Mentz and Managing Director Meredith Jones of PerTrack. PerTrack is best known in the asset management industry for their analytical software. In this interview, they look at the hedge fund industry now, and where it's headed. Read the full article here.

Thursday, July 23, 2009

HSBC opens new business for hedge funds

Reuters is reporting that HSBC has created a new business unit to target to offer hedge funds and their managers prime services. HSBC Prime Services is a partnership between Global Markets and HSBC Securities Service Units, and will focus on teh equity and fixed income platforms. For more on the new business unit, read here.

Monday, July 20, 2009

New hedgefund to start in Asia

A new Hong Kong based hedge fund will be started by Transbridge Investment Partners. They've hired John Liptak, who is the former head of Bank of America's Asia Special Strategies group to run this hedge fund. It will seek out the mispriced and undervalued securities, and focus in pan-Asia. Read the full story here.

Friday, July 10, 2009

Hedge funds strong in first half of year

According to the Wall Street Journal, hedge funds performed exceedingly well in the first half of 2009, outpacing the stock market in the first half of this year. According to the Hennessee Hedge Fund Index, performance rose 11.7%. This will likely lead to new resiliency and growth in the months to come for hedge funds. Read the full article here.

Wednesday, July 8, 2009

Meriwether To Shut Hedge Fund After Losses

The Wall Street Journal reports that John Meriwether is shutting down the flagship hedge fund he founded in 1999 at his firm, JWM Partners, according to Bloomberg, after it lost 44% between September 2007 and February this year.

This failure, whose effects were magnified by high levels of borrowings the fund made to invest in markets, led the U.S. Federal Reserve to organise a bailout by the portfolio's creditors, and to begin examining the role of hedge funds in financial markets - an examination which continues to this day, and which arguably has intensified since LTCM failed.

What other causes may have contributed to Meriwether's failure?