Hedge Fund Ethics

In the hedge fund industry you have one name and one reputation. If you ruin that you could have influential people in the industry refusing to do business with you for 15-20 years after their initial opinion is formed. In such a competitive close vested industry where large profits can be made the temptation to cut corners or look past fiduciary duties is sometimes too much.

The FBI recently had agents posing as a Florida-based hedge fund manager to nab 10 individuals in 5 kickback schemes connected to securities sales. The SEC charged 10 individuals and the U.S. Attorneys office charged six with criminal offenses.

In each case the posing hedge fund manager told the targets that their actions must be kept secret because it violated his fiduciary duties, making it explicitly known that what was going on was illegal and un-ethical. “This case illustrates the Commission’s ability to work together with criminal authorities in creative ways to uncover fraudulent schemes and to protect our markets,” Linda Chatman Thomas, the head of the SEC’s enforcement division, said.

Bottom Line: If you are smart enough and hard working enough to be successful then you don't need to ever cut corners and blatantly break securities laws. Innovation and relationships are the competitive advantage that should make you extremely profitable, not cheating the system.

Interested in hedge fund marketing? Read dozens of more hedge fund marketing & sales articles along with details on third party marketing within the Hedge Fund Marketing Guide.

Read dozens of additional articles related to Hedge Fund Jobs by visiting the Hedge Fund Employment Guide.

- Richard

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Related Terms: SEC, Securities Exchange Commission, attorney, Hedge Fund Law, hedge fund fraud, hedge fund kickbacks, securities laws, hedge fund scheme, FBI, hedge fund fiduciary duty, hedge fund ethics, hedge fund code of ethics, hedge fund security sales, hedge fund reputation, hedge fund profits

Link to This Resource: Hedge Fund Ethics

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Hedge Funds in Greenwich, CT

Greenwich CT Hedge Funds Outperform

The Greenwich Global Hedge Fund Index is up over 10.5% year-to-date as of 12.12.07. These are strong returns considering that the index as a whole dropped 1.61% in November.

“Hedge funds’ performance, which was less severe than that felt by the equity markets, highlights their unique ability to limit the downside,” said Ben Rossman, senior vice President at Greenwich Alternative Investments.

Read more articles like this within the Hedge Fund Performance Category of this hedge fund blog.

- Richard

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Permanent Link: Greenwich Hedge Funds Outperform

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Related Terms: Greenwich Global Hedge Fund Index, Greenwich CT Hedge Fund, Hedge Fund in Greenwich Connecticut

Link to This Resource: Hedge Funds in Greenwich CT

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Hedge Fund Job Advice

Here is an email I got earlier today:

"I have passion for investing/trading and want to build my career in hedge funds. I am trying to break into the field, so far with no luck. I came across your blog and writing today to see if you could give me some advise on how to land into a full time hedge fund job. I have gone through your blogs and book and admire your helping attitude. I am attaching my resume for your reference..."

I get a lot of emails about how to obtain a job within the hedge fund industry, how to start networking, or get your foot in the door. Here is my general response to these emails:

Breaking into this industry is all about getting up to speed on the norms of hedge funds and then networking.

1. I would buy Hedge Me - a great book on the hedge fund industry the career path options you have, the compensation and major firms in the industry. Here is a review I wrote on the book and a link to buy it if you are interested: Hedge Me Book Review

2. I would continue to read my blog at HedgeFundBlogger.com, subscribe to this hedge fund blog by email (http://www.feedburner.com/fb/a/emailverifySubmit?feedId=1049915) or download all of my past blog posts at http://hedgefundsbook.com/

3. I would call 30 hedge fund managers and ask them to have coffee or lunch. You need to get some face-to-face time with people in the position you want to obtain and hedge fund managers themselves.

4. If it would help I have written a blog post on what hedge fund managers typically look for in resumes: http://richard-wilson.blogspot.com/2007/10/hedge-fund-resumes.html

5. If you want to learn more about the industry here are my favorite hedge fund books: http://astore.amazon.com/ra07-20

6. Read Posts on HedgeFundMessageBoard.com and Join the Hedge Funds Group on Linkedin.com. After joining introduce yourself within the "New Member Introductions" thread within the message board. To join please visit this link: http://www.linkedin.com/groupInvitation?groupID=44059&sharedKey=5FC1F8699305

I have recently found an individual willing to help improve your hedge fund or investment resume. If you would like 1-4 hours of resume editing, coaching and career guidance please send me an email at Richard@RichardCWilson.com.

- Richard

Permanent Link: Hedge Fund Job Advice
Related Posts:Hedge Fund Resume Tips, Hedge Fund Books, Hedge Fund Blog Book, Hedge Me Book Review
Related Terms: Hedge Fund Job, Hedge Fund Employment, Hedge Funds Careers, Hedge Funds Positions, Hedge Fund salary, Hedge Fund Compensation, Hedge Fund Job Listings, Hedge Fund Recruiter, Hedge Fund Recruiters, Hedge Fund Employers, Hedge Fund Job Options, hedge funds group, hedge fund networking

Link to This Resource: Hedge Fund Job Advice

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Sovereign Wealth Funds in the Middle East & Asia

China Investment Corporation
Size: 1.47 trillion yuan (£100 billion)
Major investments: Blackstone $3 billion

Citic
Size: 929.2 billion yuan (£64 billion) at December 2006.
Major investments: Recently bought 6 per cent stake in Bear Stearns for $1 billion

China Development Bank
Size: 2,314 billion yuan (£150 billion) at December 2006.
Major investments: Bought 3.1 per cent in Barclays for £1.6 billion.

Temasek
Size: $108 billion (£54 billion)
Major investments: Barclays £2 billion, Standard Chartered £4.25 billion

GIC
Size: $100 billion to $330 billion (estimate)
Major investments: £4.8 billion stake in UBS

Abu Dhabi Investment Authority
Size: $875 billion
Major investment: Citigroup $7.5 billion

Dubai International Capital
Size: €6 billion (estimate)
Major investments: “Substantial stake” in HSBC.

Istithmar
Size: $8 billion (estimate)
Major investments: Standard Chartered, $1 billion

- Richard

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Permanent Link: Sovereign Wealth Funds in Asia and Middle East
Related Terms: Istithmar, Dubai International Capital, Abu Dhabi Investment Authority, GIC, Temasek, China Development Bank, Citic, China Investment Corporation
Full Article/Source: Business Times

Link to This Resource: Sovereign Wealth Funds in the Middle East & Asia

http://richard-wilson.blogspot.com/2007/12/sovereign-wealth-funds-in-middle-east.html

Hedge Fund Trends Video

Hedge Fund Trends

Hedge Fund Trends Video

Direct Video Link: http://www.youtube.com/watch?v=0T-BH8cvkJE

Tired of reading articles? Watch more videos like this one above within the Hedge Fund Videos Directory.

- Richard

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Link to This Resource: Hedge Fund Trends Video

http://richard-wilson.blogspot.com/2007/12/hedge-fund-trends-video.html

Hedge Funds Use Litigation to Exert Influence

Hedge Funds Use Litigation

Litigation is becoming more and more a part of the everyday world of hedge funds. Funds are finding themselves in courtrooms in any number of different roles.

Hedge funds have increasingly turned to lawsuits as tools with which to influence the management of the companies in which they have invested. One newsworthy example of this is the high-profile InfoUSA lawsuit. InfoUSA's founder, Vin Gupta, is accused of corporate waste on a scale of millions of dollars. He is accused of using company funds and assets to curry favor with Bill and Hilary Clinton (in the form of flights on the corporate jet and other items), as well as paying for an 80-foot yacht and condos in Hawaii and California with company money. Hedge fund Dolphin Limited Partnership brought the lawsuit along with investment manager Cardinal Value Equity Partners.

The lawsuit was brought in the form of a shareholder derivative action. This is a type of lawsuit that any shareholder can bring, but few do because of the costs. A shareholder derivative action is brought against officers and/or directors of a corporation (the "defendants") on behalf of the corporation itself, when the directors won't take action to enforce the company's rights. This type of lawsuit challenges decisions that officers and directors have made, where a shareholder claims that the decisions were not in the best interests of the corporation and have harmed the corporation (in most jurisdictions, a member of an LLC can also bring a derivative action). Derivative complaints commonly include claims that the people who manage the company have engaged in corporate waste, self-dealing, and breaches of their fiduciary duties.

The interesting thing about derivative actions is that a successful shareholder does not recover money directly. Any judgment in the case is entered in favor of the corporation. A shareholder may benefit indirectly, of course, by enriching the corporation at the expense of the officers or directors, but the more direct result of this type of lawsuit is that the shareholder is exerting influence on the company's management. A derivative suit is a big stick that investors such as hedge funds may be able to use to ensure that management toes the line and acts in the best interests of shareholders.

- Bob Barnard (Guest Contributor)

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Permanent Link:Hedge Funds Use Litigation to Exert Influence
Related terms: Hedge Fund Litigation, Hedge Fund Regulation, Hedge Fund Complaince, Hedge Fund Lawsuit, Hedge Fund Court Cases
Article Source: http://overhedged.com

Link to This Resource: Hedge Funds Use Litigation to Exert Influence

http://richard-wilson.blogspot.com/2007/12/hedge-funds-use-litigation-to-exert.html

Top 50 US Hedge Fund Groups

Below is the list of the top 50 US Hedge Fund Groups organized by firm name, location, Jan. 07 AUM$B, Growth in 2006 and SEC Regulated Y/N

1. Stark Investments* St. Francis WI 10.83 42.46% Y
2. Davidson Kempner Advisers** New York NY 10.26 65.48% Y
3. Highfields Capital Management Boston MA 10.00 29.87% N
4. Wellington Management Co.** Boston MA 10.00 19.05% Y
5. Canyon Capital Advisors Beverly Hills CA 9.60 18.52% Y
6. AQR Capital Management Greenwich CT 9.50 21.79% Y
7. Fortress Investment Group** New York NY 9.40 38.24% Y
8. Maverick Capital New York NY 9.30 -15.45% Y
9. Duquesne Capital Management** Pittsburgh PA 8.80 10.00% N
10. Millennium Management** New York NY 8.60 32.31% N
11. Adage Capital Management Boston MA 8.10 n/a N
12. Cantillon Capital Management New York NY 8.10 6.58% Y
13. York Capital Management New York NY 8.00 5.26% Y
14. Lone Pine Capital Greenwich CT 7.94 5.84% N
15. Black River Asset Management Minnetonka MN 7.90 75.56% Y
16. King Street Capital Management New York NY 7.40 21.31% N
17. Baupost Group Boston MA 7.36 26.90% Y
18. Bain Capital/Brookside Capital Partners Boston MA 7.30 40.38% N
19. BlackRock New York NY 7.30 92.11% Y
20. Pequot Capital Management Westport CT 7.30 2.82% Y
21. AllianceBernstein* New York NY 7.20 53.19% Y
22. TPG-Axon Capital New York NY 7.20 26.32% N
23. Paulson & Co. New York NY 7.14 62.36% Y
24. Elliott Associates Greenwich CT 7.00 25.00% N
25. Grantham, Mayo, Van Otterloo** Boston MA 7.00 52.17% Y
26. JPMorgan Asset Management1 New York NY 34.00 74.36% Y
27. Goldman Sachs Asset Management New York NY 32.53 47.87% Y
28. Bridgewater Associates* Westport CT 30.20 47.32% Y
29. D. E. Shaw Group New York NY 26.30 39.89% Y
30. Farallon Capital Management* San Francisco CA 26.20 58.79% Y
31. Renaissance Technologies Corp. East Setauket NY 24.00 175.86% Y
32. Och-Ziff Capital Management New York NY 21.00 40.00% Y
33. Cerberus Capital Management New York NY 19.15 69.60% N
34. Barclays Global Investors* San Francisco CA 18.90 28.57% Y
35. ESL Investments** Greenwich CT 18.00 20.00% N
36. Citigroup Alternative Investments New York NY 15.77 162.85% Y
37. Tudor Investment Corporation Greenwich CT 15.17 17.60% N
38. Caxton Associates New York NY 14.20 10.08% Y
39. Atticus Capital New York NY 14.00 60.92% N
40. Campbell & Co. Towson MD 13.80 15.00% Y
41. Citadel Investment Group Chicago IL 13.50 12.50% N
42. Moore Capital Management New York NY 12.50 22.55% N
43. Avenue Capital Group New York NY 12.40 37.78% Y
44. Perry Capital New York NY 12.34 8.26% Y
45. SAC Capital Advisors Stamford CT 12.00 41.18% N
46. Soros Fund Management New York NY 12.00 25.00% N
47. HBK Investments Dallas TX 11.90 35.23% Y
48. FX Concepts New York NY 11.25 44.19% Y
49. Angelo, Gordon & Co. New York NY 11.00 10.00% Y
50. Fairfield Greenwich Group New York NY 11.00 50.68% Y

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Related Terms: Hedge Fund Capital Management, Hedge Fund Top 50, Top American Hedge Funds, Top US Hedge Funds, Top United States Hedge Funds, Hedge Fund Directory, Boston hedge fund managers, new york hedge fund managers, nyc hedge fund, new york city hedge funds
Source: Absolute Return
Picture Source: NASA

Link to This Resource: Top 50 US Hedge Fund Groups

http://richard-wilson.blogspot.com/2007/12/top-50-us-hedge-fund-groups.html

Amaranth vs. JP Morgan Chase

The Amaranth complaint against JP Morgan Chase is a fascinating tale of corporate intrigue and sabotage. Of course, we have a long way to go before we see if the allegations hold up.

I am summarizing the complaint here. In order to do that, I have simplified things. There are actually two Amaranth entities listed as plaintiffs and three JPMC entities listed as defendants. I will just refer to Amaranth and JPMC here. If you want to sort out all of the players, feel free to read the 30-page complaint.

JPMC served as Amaranth's futures commission merchant ("FCM"). In that capacity, Amaranth alleges, JPMC had virtually unfettered knowledge of Amaranth's trading positions in the volatile natural gas derivatives market. As Amaranth began to lose money in its natural gas portfolio, Amaranth began to suspect that JPMC employees might have been leaking information about its positions to other traders in natural gas derivatives, allowing the other traders to use that information to benefit themselves and cause Amaranth to lose money.

Amaranth claims that, as it lost money on its natural gas positions, and its margin requirements began skyrocketing, it started looking to unload its natural gas portfolio to stem the losses and eliminate the risk of further massive losses. Amaranth alleges that it reached a deal to trade the bulk of its natural gas portfolio to Goldman Sachs, but that JMPC stifled the deal by refusing to complete the trade as Amaranth's FCM. Amaranth claims that JPMC was looking to muscle Goldman Sachs out of the deal because JPMC wanted to acquire the natural gas portfolio itself.

After Goldman Sachs bowed out, Amaranth claims that Citadel Investment Group agreed to essentially the same deal as Goldman Sachs. Amaranth contends that JPMC squashed that deal by speaking to Citadel and telling Citadel that Amaranth was not as solvent as Amaranth had represented.

When Citadel walked away from the deal, according to the complaint, JPMC stepped in and agreed to a trade with Amaranth to take on the bulk of Amaranth's natural gas portfolio. In the interim, Amaranth claims, it lost more than a billion dollars in that portfolio. In addition, Amaranth alleges that the trade with JPMC was on much more onerous terms than the deals it claims it had in place with Goldman Sachs and Citadel. The damages sought in this action could run into the billions.

This will most likely be a massive, high profile litigation, and it will have interesting implications both for hedge funds and their service providers as it shakes out. Is this a case of a desperate plaintiff looking for deep pockets? Or did JPMC really use the information it had access to in a way that damaged Amaranth? Stay tuned.

- Bob Barnard (Guest Contributor)

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Permanent Link: Amaranth vs. JP Morgan Chase
Article Source: http://Overhedged.com
Related Terms: Amaranth Hedge Fund, amaranth vs. jp morgan chase, jp morgan chase hedge fund, amaranth blow up

Link to This Resource: Amaranth vs. JP Morgan Chase

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Hedge Fund Consultant | Consulting Services

Hedge Fund Consultant

My name is Richard Wilson and I run the Hedge Fund Consulting Group. We offer speaking, training, and capital raising services to hedge funds and financial firms. To learn more about us please visit Hedge Fund Consulting Group.com or see a few of our services listed below:

• Hedge Fund Training - I am part of a group which runs a certification program for the hedge fund industry. The designation is called the Chartered Hedge Fund Associate (CHA) Designation Program. Learn more about it here: CHADesignation.Org

• Prime Brokerage Services- Introductions to capital introduction groups and prime brokerage solutions for sub $300M hedge funds through Saratoga Prime Services.

• Hedge Fund Marketing Hedge fund marketing materials, training, third party marketing due diligence, pre-marketing operational/risk analysis and third party marketing for well established hedge fund managers who would like to raise assets from single and multi-family offices. Learn more at HedgeFundConsultingGroup.com and FamilyOfficesDatabase.com.
  

• Hedge Fund Advertising - My hedge fund websites attract over 270,000 pageviews each month. Please see the Hedge Fund Advertising page for more details.

• Hedge Fund Research & Writing - I have a team of hedge fund researchers and writers who help me complete various hedge fund research and writing assignments on-demand.

To check on prices or discuss how we could work together please email me at Richard@HedgeFundGroup.org.


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Link to This Resource: Hedge Fund Consultant | Consulting Services

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Credit Default Swaps

Credit Default Swaps Article

The evaporation of the collateralized loan obligation market may be the other shoe dropping. The risks posed by credit default swaps (CDSs) may be not just the other shoe, but the neutron bomb. The rating cut by S&P of ACA Financial Guaranty Corporation (from A to CCC), discussed in this article in today's NY Times, may portend deep trouble.

Credit default swaps originated as a form of credit protection that the holder of a credit risk could purchase as a hedge against a borrower's default. A holder of General Motors bonds, for example, can effectively insure against a default by GM by purchasing protection in the form of a CDS from a willing counterparty. Many holders of collateralized debt obligations that have recently plummeted in value had hedged their positions through CDSs, and ACA Financial has been a major seller of such protection. An accompanying article in the Times describes possible efforts by some of ACA's insureds, including Merrill Lynch, CIBC and Bear Stearns, to help bail out ACA in order to avoid a write-down of billions of dollars of insured securities.

As with so many other types of innovative financial products, CDSs have exploded in the past few years. They have become a simple way for investors to take long or short positions on particular companies or industries without having to buy or sell the actual underlying bank debt or securities. The notional amount of underlying obligations covered by CDSs now exceeds $40 trillion, up from less than $2 trillion in 2002.

In a low default environment, selling default risk through CDSs presented huge revenue opportunities. ACA more than doubled its CDS business over the past 12 months, and others have undoubtedly done likewise. However, if the events of the past several months have proven one thing, it is that investors have done a very poor job recently of accurately assessing and pricing risk. It is more likely than not that many CDS sellers have not properly gauged their exposure, or set aside sufficient reserves against it.

The potential ramifications are difficult to overstate. S&P contends that ACA is facing close to $3 billion of losses on its CDS exposures, for which it has only $650 million of reserved capital. There is no way to tell right now how many other banks, funds, and other insurers are similarly exposed. Of equal concern are the exposures of the CDS purchasers who believe themselves to be properly hedged against losses, but who may instead find their protection to be worthless because of their counterparty's inability to pay.

- Ben Feder (Guest Contributor)

Read dozens of additional articles like this within the guide to Hedge Fund Terms and Definitions.

Permanent Link: Credit Default Swaps

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Article Source: http://OverHedged.com
Related Terms: credit default swaps, cds, ACA, cedit default swap meltdown, collateralized loan obligation market

Link to This Resource: Credit Default Swaps

http://richard-wilson.blogspot.com/2007/12/credit-default-swaps.html

Hedge Fund Industry Review (Q3 07)

Hedge Fund Industry Review

The average hedge fund included in the HFRI Fund Weighted Composite index posted a moderate Q3 gain of 1.36%. This was largely due to a down month in August (-1.48%) followed by a recovery in September (2.82%) before quarter end. The first three quarters of 2007 have been a mixed bag for hedge fund performance in relation to the S&P 500. The S&P 500’s returns of 10.86 beat nearly half of all hedge fund indexes. One important point to keep in mind is that 10.86 is a above-average return for the S&P 500 and many hedge funds are designed so that they do not move with the markets or the S&P 500 in this case, so it is not necessarily a bad sign that each index did not beat the benchmark. High tides typically raise all boats in the sea Hedge funds are relied upon for unique return stream diversification, and it would be far more worrisome if hedge funds were consistently performing in line with the S&P 500 on a frequent basis.

Winners:

• Short selling strategies on a whole came out strong through the volatility this fall with average performance of 6.16%
• Emerging Market funds gained 4.7% in Q3

Losers:

• Distressed Securities funds dropped an average 1.63%
• Event Driven funds dropped an average .83%
• Fixed Income High Yield funds dropped 4.14%

7 Q3 Hedge Fund Strategy Trends & Insights

1. Large Cap equities are starting to come into favor because of their multinational operations that diversify economic risk, their exports which take advantage of the dollar and their reputation as being a sot of safe harbor for earnings growth during chopping times in the market. Hedge funds running long-only or long/short portfolios will probably be overweighting this area and funds who expertise is really in GARP or moves made on technical indicators might come out on top for Q4 and Q1 of 2008.

2. In Q3 Emerging Market funds only attracted 3.64% of new capital. This was due to two factors. First China is becoming almost too popular for its own good with some questioning whether current mid and large cap PE ratios are too high. While I don’t think much money will leave the area some are worried of a sharp correction at some point over the next two or three quarters. Second, the US markets have seen volatility and unsteady footing through the end of Q2 and Q3 making investors look for solid ground to place investments with.

3. While almost unheard of three years ago Litigating Funding is becoming an increasing popular hedge fund strategy with returns that are driven by team expertise and returns which have a low correlation to the markets. We will probably see a few of funds focused just on this area start-up in early to mid 2008.

4. While Fixed Income High Yield strategies performed the worse during this last quarter it also had the highest % rise in new assets gaining $2.2B in new money in Q3 compared to $178m in Q2. I believe this is due to institutions being a long 18-24 month holding pattern on allocation to high yield investments and many now hoping to put capital to work picking up cheap instruments before they are re-valued again on the way back up. I wouldn’t be surprised to see Q4 showing an even greater inflow of high yield investments.

5. The $22.5 billion inflow of assets by Hedge Fund of Funds is the second highest ever, barely topped by a Q3 2006 inflow of $23.8B towards hedge fund strategies. I believe that this record will be beaten with close to $25B of net inflows in 2008 as RIA assets drive upwards and more institutions move from 6-8% to 12-20% allocations.

6. The asset flows to high yield contrast sharply with what happened with short selling asset flows in Q3. While short selling funds were on average the best performing of all groups they took in less than $1M in new flows, a rounding error by most accounts.

7. Two strategies which experienced net outflows during Q3 were Equity Market Neutral and Market Timing losing $278M and $39M. This could be due to these strategies typically quantitative modeling intensive investment processes which sometimes have difficult times navigating the types of volatile market conditions that we have recently seen.

Asset Inflows and Outflows – The Big Picture

A recent report from the Hedge Fund Research Group shows that hedge funds gained $45.2B in assets during the third quarter of 2007. Event-Driven, Relative Arbitrage, and Equity Hedge strategies received the lions share of those inflows taking in a respective $9.8B, $9.2B and $8.5B. Even though emerging markets hedge funds were once again a top performer they gained a modest $2.7B in Q3. Regardless of strategy roughly half of all new hedge fund assets came from Fund of Hedge Funds bringing the total fund of fund assets to a record $773 billion.

These inflows and outflows are important to keep an eye on. Since hedge funds cannot advertise a small handful of fraudulent or poor performing hedge funds in the news can often make millions of people think that the hedge fund industry is headed towards financial ruin. Looking at the overall picture in terms of performance and assets gains can give you a more realistic pulse on how the industry is really doing as a whole.

“Overall industry fund flows were positive despite performance volatility and specific instances of investor redemptions,” said Kenneth J. Heinz, president of Hedge Fund Research. “Flows were strongest into Fund of Hedge Funds and Event Driven Strategies, as well as many of the larger firms in the industry, each of which suggest continued capital concentration in the industry.”

A recent study by the Institute for Private Investors showed that the ultrawealthy are increasingly allocating more of their portfolios to hedge funds. Ultrawealthy investors are those who are typically define as having over $50M in investible assets, they are sometimes also referred to as ultra high net worth individuals (uhnw).

In this most recent study 25% of the ultrawealthy who responded to the study said they were looking to increase their allocation to hedge funds while 11% said they were planning on decreasing their exposure to this type of investment vehicle. An additional strong point that came out of the survey was that 63% of the respondents planned on increasing their investments outside of their own domestic markets.

The move to a larger allocation to emerging and developed markets internationally has been running parallel to hedge funds for several years now and some internationally focused hedge funds have faired quite in terms of performance returns and asset growth from new investors.

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• Citigroup Hedge Fund
• Hedge Fund Investing

Permanent Link: Hedge Fund Industry Review (Q3 07)

Related Terms: Hedge Fund Industry Review, Hedge Fund Industry Report, Hedge Fund Industry Growth, Hedge Fund Assets, Hedge Fund of Fund Assets, Hedge Fund Assets Infow and Outflow, Hedge Fund of Fund Growth

Data Source: Hedge Fund Research Group

Link to This Resource: Hedge Fund Industry Review (Q3 07)

http://richard-wilson.blogspot.com/2007/12/hedge-fund-industry-review-q3-07.html

Goldman Sachs Hedge Fund Launch

Goldman Sachs is launching a massive hedge fund that will have between $6 and $10 billion invested from day 1. The fund will begin operations on January 1st ran by Raanan Agus and Kenneth Eberts, a couple star traders that Goldman did not want to lose to an outside hedge fund.

While some of the initial seed capital will come from Goldman Sachs other parts will come from financial institutions on wall street, banks, trusts & family offices. If they could succeed at raising more than $7 billion it would beat the current seed capital raising record held by Makena Capital which is ran by Michael McCafferty.

- Richard

Related Articles:

• Hedge Fund Decline
• Hedge Fund Hurdle Rate Definition - What is a Hurdle Rate?
• Hedge Funds Returns
• Hedge Fund Assets
• Diversified Investment Advisors
• Policy Effect
• Citigroup Hedge Fund
• Hedge Fund Investing

Permanent Link: Goldman Sachs Hedge Fund Launch
Related Terms: Goldman Sachs Fund, Goldman Sachs Hedge Fund, Goldman Sachs Hedge Fund of Fund, Goldman Sachs Hedge Fund Launch, Goldman Sachs Hedge Fund Seed Capital, Hedge Fund Manager at Goldman Sachs
Story Source: Goldman Sachs Hedge Fund Launch
Picture Source: Enterprise Forum

Link to This Resource: Goldman Sachs Hedge Fund Launch

http://richard-wilson.blogspot.com/2007/12/goldman-sachs-hedge-fund-launch.html

Hedge Fund PR

Hedge Fund Public Relations (PR)

Quick Link: Hedge Fund Public Relations

I am currently looking for more guest article writers for my hedge fund blog. I am looking for concise advice, pr advice, knowledge sharing, statistics, analytics, or strategy definitions. If it helps a financial planner, investor, or consultant understand hedge funds better or identify a new trend then I am interested in publishing something on the topic.

If you would like some free hedge fund PR exposure for your firm or an internship doing research on the hedge fund industry please let me know by sending me an email.

If you are looking for a hedge fund public relations (PR) expert please also let me know. I know an experienced and well connected professional in the hedge fund industry.

Interested in hedge fund marketing? Read dozens of more hedge fund marketing & sales articles along with details on third party marketing within the Hedge Fund Marketing Guide.

- Richard

Permanent Link: Hedge Fund PR

Articles Related to "Hedge Fund PR":

1. 1. Hedge Fund Marketing Guide
   2. Hedge Fund Marketing Tools
   3. Marketing to Institutional Investors
   4. Hedge Fund Public Relations
   5. Hedge Fund Seed Capital
   6. Marketing Hedge Funds to Financial Advisors
   7. Hedge Fund Media Exposure
   8. Sales Motivation
   9. Psychology of Sales Call Reluctance
   10. Hedge Fund Seeding
   11. Financial Public Relations

Related Terms: Hedge Fund PR, Hedge Fund Public Relations, Hedge Fund Article, Hedge Fund Internship, Hedge Fund Writing Opportunity, Hedge Fund News Story, Hedge Fund Story Submission, investment pr, hedge fund news, hedge fund image management, hedge fund publicity, Hedge Fund PR Services

Link to This Resource: Hedge Fund PR

http://richard-wilson.blogspot.com/2007/12/hedge-fund-pr.html

Drawdown

Drawdown Definition

A drawdown is the maxinimum percentage loss from a hedge fund. This is calculated by subtracting the lowest value from its peak net asset value.

You will often here to this a fund's max draw down over 5 years or max drawdown since inception. Some great low volatility funds will have max draw downs of only 3, 5, or 7% while others will have 10 or 20% drawdown figures. Sometimes this is due to the nature of their strategy, other times it can show that they have slipped at least once in moving the portfolio out of harms way or building in certain stop losses or hedged positions. All of this depends on the strategy at hand.

- Richard

Permanent Link: Draw Down Definition
Related Terms: drawdown, max drawdown, hedge fund max drawdown, drawdown calculation

Link to This Resource: Drawdown

http://richard-wilson.blogspot.com/2007/12/drawdown.html

Top 10 Hedge Fund Quotes

10. “If we don’t charge 2 and 20, no one will take us
seriously.”

9. “We are 75% cash because we cannot find
sufficient investments.”

8. “We charge 3 and 30 because that is the only way
we can keep our assets under several billion.”

7. “We don’t invest in crowded shorts.”

6. “I haven’t shorted before, but I do have my CFA.”

5. “Managed Futures are a better investment than Hedge
Funds because Hedge Funds are a zerosum
game.”

4. “What’s a Master Trust?”

3. “Your Head of Equity doesn’t understand our Hedge
Fund strategy.”

2. “Basically, I look at the trading screens all day and go
with my gut.”

1. “He will be with you in a minute sir, he’s still meeting
with his architect.”

Related Articles:

• Hedge Fund Leverage
• Hedge Fund Investors
• Hedge Fund Research
• Diversified Investment Advisors
• Distressed Debt Securities
• Hedge Fund Widget/Blidget
• Master-Feeder Fund Structure
• Hedge Fund High Water Mark Definition
• Multi-Family Offices
• Credit Default Swaps
• Sovereign Wealth Funds

- Richard

Permanent Link:Top 10 Hedge Fund Quotes
Related Terms: Hedge Fund Quotes, Hedge Fund Humor, Top 10 Hedge Fund Quotes
Source: By Mark Anson - direct link: IAFE
Picture Source: Informity

Link to This Resource: Top 10 Hedge Fund Quotes

http://richard-wilson.blogspot.com/2007/12/top-10-hedge-fund-quotes.html

Active Premium

Active Premium Definition

The Active Premium is a measure of an investments annualized return minus the appropriate benchmark's annualized return.

Active Premium Example

If your All Cap Growth equities manager returned 19% to date benchmarked against the S&P 500's return of 5% than the active premium would be 14%. If you chose a more institutional benchmark such as the Russel 3000 which say had gained 8% YTD than the active premium would be just 11%.

Managers are largely able to choose their respective benchmarks for themselves so it is important to understand the differences between them and note when they are different while comparing two very similar strategies.

Read dozens of additional articles like this within the guide to Hedge Fund Terms.

- Richard

Articles Related to Active Premium:

• Sortino Ratio
• Sharpe Ratio
• R Squared
• Draw Down
• Appraisal Ratio
• Omega Ratio
• Treynor Ratio
• Zero Coupon Bonds
• Alpha
• Portable Alpha

Permanent Link: Active Premium

Related Terms: Active Premium, Active Premium Definition, Explain Active Premium, Define Active Premium, What is Active Premium, active premium definition
Picture Source: FunkMediaWorks

Link to This Resource: Active Premium

http://richard-wilson.blogspot.com/2007/12/active-premium.html

Man Annual Hedge Fund Report

Man Annual hedge fund Report

Man Investments releases an annual report on the hedge fund industry, this years was very upbeat about hedge fund performance. Their view is that some volatility in the US markets could lead to trading opportunities and general outperformance by hedge funds. Granted this is similar to an investment banking saying that the company they are underwriting is a great buy, it does go along with what other alternative asset experts have been reporting over the past couple of quarters.

The report predicts that relative value, even driven and managed futures hedge funds will come out on top. “The big challenge for hedge funds next year will be to adapt to the different possible macroeconomic scenarios that will materialize. Volatility will continue to be the key factor in determining how vigorously hedge funds perform," said Thomas Della Casa, Head of Research at Man Investments.

Related Articles:

• Hedge Fund Investors
• Hedge Fund Research
• Diversified Investment Advisors
• Distressed Debt Securities
• Hedge Fund Widget/Blidget
• Master-Feeder Fund Structure
• Hedge Fund High Water Mark Definition
• Multi-Family Offices
• Credit Default Swaps
• Sovereign Wealth Funds
• Hedge Fund Redemptions
• Hedge Fund Strategies
• European Expert Network for Hedge Funds
• Fund of Hedge Funds

Permanent Link: Man Annual Hedge Fund Report
Related Terms: Man Investments Report, Hedge Fund Report by Man Investments, Annual Report on Hedge Funds by Man Investments
Story Source: Fin Alternatives

Link to This Resource: Man Annual Hedge Fund Report

http://richard-wilson.blogspot.com/2007/12/man-annual-hedge-fund-report.html

Hedge Fund List

A Hedge Fund List

Hedge Fund List: Thanks to a member of one of our online networking groups I recently found this list of hedge funds by state. This list is not complete and the industry changes so rapidly it is surely becoming more outdated each month, that said it is hard to find this information online so hopefully this may help you.

The list below is a free list which does NOT contain contact details of hedge funds. If you are looking for a list of hedge funds with contact details please see this page which has links to many lists of hedge funds with full contact details for less than $70 each: Lists of Hedge Fund Managers with Contact Details.

___________________________

CT:

Badon Hill Asset Management, L.L.C.
Basso Capital Management, L.P.
Blue Orchid Capital
Bridgewater Associates Inc
DCF Capital
Diamondback Advisors CT, LLC
Dune Partners, L.L.C.
Fossel Capital
JD Capital Management, L.L.C.
Kideral International
Lone Pine Capital, L.L.C.
Monitor Capital, Inc.
Newbury Partners, L.L.C.
Norfolk Markets
North Sound Capital
Norton Capital Management, LLC
P.A.W. Partners
Pirate Capital, L.L.C.
Renaissance Investors, LLC
SAC Capital Advisors, L.L.C.
Sageview Capital, L.L.C.
Silvermine Partners, L.L.C.
Sky Investments
SkyWorks Leasing, LLC
Strategic Value Partners, L.L.C.
The Patriot Group, L.L.C.
Tontine Capital Partners, L.P.
Tudor Investment Corporation
Viking Global Investors, L.P.
Weston Capital Management, L.L.C.
XT Capital Partners, L.L.C.
------------------------------
-------------------------------------
IL:
Balyasny Asset Management
Citadel Investment Group, L.L.C.
Eagle Marekt Makers
Evanston Capital Management, L.L.C.
Frontaura Capital, LLC
Group One Trading, L.P.
Ritchie Captial
Sanborn & Kilcollin Partners, L.L.C.
Sidley Austin, L.L.P.
--------------------------------------------------------------------
MA:
Adamas Partners, L.L.C.
Babson Capital Management, L.L.C.
Cambridge Place Investment Management, L.L.P.
Convexity Capital Management, L.P.
FDO Partners, L.L.C.
Fidelity Investments
Fred C. Church Inc.
Fresco Faux Finishing
FTN Midwest Securities
Highland Capital Partners
IBS Capital Corporation
Kendall Investments, L.L.C.
North Bay Capital Management, L.P.
Nyes Ledge Capital Management
O.A.K. Associates
Old Mutual Asset Management
Pine Cobble Capital
Robeco Boston Partners Asset Management
Sankaty Advisors, L.L.C.
Sirios Capital Management, L.P.
Sonar Capital Management, L.L.C.
TA Associates
Thomas H. Lee Partners, LP
Tidal Capital Management, L.L.C.
Tudor Investment Corporation
Wellington Management Co., L.L.P.
-------------------------------------------------------------------
NY:

Apollo Management, L.P.
Arden Asset Management, L.L.C.
Aristeia Capital
Arnhold & S. Bleichroeder Advisers, L.L.C.
Arnold and Porter, L.L.P.
Asset Alliance
Auda Advisor Associates, L.L.C.
Avenue Capital Group
Barclays Capital
BlueBay Asset Management, Plc
BlueMountain Capital Mngmt, L.P.
Cantillon Capital Management, L.L.C.
Cantor, Weiss & Wurm Asset Management
Capital Z Investment Partners
Capra Asset Management, Inc.
Caxton Associates, L.L.C.
Cerberus Capital Management, L.P.
Clear Asset Management, Inc.
Clearpoint Learning Systems
Copper Arch Capital, L.L.C.
Corbin Capital Partners
D. E. Shaw and Company, L.P.
D.B. Zwirn & Co., L.P.
DiMaio Ahmad Capital
Drake Management, L.L.C.
Elliott Associates, L.P.
Eminence Capital
Endeavor Talent Agency
Evercore Partners
Fairfield Greenwich Advisors, L.L.C.
Fortress Investment Group
Fursa Alternative Strategies, L.L.C.
Glenrock Asset Management
GLG Partners
Golden Tree InSite Partners
GoldenTree Asset Management
Gravity Capital Management, L.L.C.
Greenlight Capital, Inc.
Group One Trading, L.P.
GSCP (NJ), L.P.
GSO Capital Partners
Harvest Volatility Management, LLC
HBK Capital Management
HealthCor Management
HFR Asset Management
Highbridge Capital Management
Icahn & Co.
Icahn Management, L.P.
IntroPLAY, L.L.C.
J. J. Newport Group, Inc.
JL Advisors, L.L.C.
Kepler Asset Management
Kingdom Ridge Capital, LLC
Kingdon Capital Management, L.L.C.
Knight Capital Group
Knott Partners, L.P.
Magnetar Capital
MAK Capital
Marathon Asset Management, L.L.C.
Maverick Capital, Ltd.
MFP Investors, LLC
Miura Global Partners
Narragansett Asset Management, L.L.C.
North Sea Capital Management
North Shore Asset Management, L.L.C.
Oaktree Capital Management, L.L.C.
Och-Ziff Capital
Octavian Advisors, L.P.
Olympia Capital Management
OpHedge Investment Services
Ospraie Advisors
Ospraie Management LLC
Penson GHCO
Pequot Capital Management, Inc.
Perella Weinberg Partners
Phoenix Partners Group
PixiesDidIt!, Inc.
PV Capital Management
Quest Select Capital Management
RBC Capital Markets
Rosenblum Silverman Sutton NY, Inc.
Royal Capital Management, L.L.C.
SAB Capital Management, L.P.
Sandell Asset Management Corp.
Schottenfeld Qualified Assoc L.P.
Seminole Management Company, Inc.
Sigam Capital Management, LLC
Silver Creek Capital Management, L.L.C.
Sire Management Corporation
Spring Mountain Capital
Steadfast Financial, L.L.C.
Straus Asset Management, L.L.C.
Taconic Capital Advisors, L.P.
Tailwind Capital Partners, L.L.C.
TCS Capital Management, L.L.C.
The Archstone Partnerships
Third Point Management Company
TM Capital Management, Inc.
TPG Capital
Trafelet & Company, L.L.C.
Trillium Trading, L.L.C.
Trivium Capital Management
Two Sigma Investments, L.L.C.
Tyndall Management, L.L.P.
Tyndall Management, L.L.P.
Union Bancaire Private Asset Mngmt
Voyager Management, L.L.C.
W. R. Hambrecht & Co.
West Side Advisors
York Capital Management


The following is a list of hedge funds with links to their individual websites.

• The Abernathy Group - Long/Short equity alternative asset management firm located in New York City.
• Absolute Capital investments - An alternative investment management firm specialising in hedge fund and structured debt products. Their proprietary investment process, is designed to combine non-traditional investment strategies to achieve our absolute return objectives.
• Adair Capital LLC - Private research and alternative investment firm specializing in hedge fund of funds.
• Aerodynamic Investments Inc - An offshore and domestic hedge fund with extensive chart libraries to learn about technical analysis.
• Aida Capital International - Company manages diversified portfolios of investments in hedge funds.
• A.I.M. Trading - Investment management firm offering an offshore fund, 3R Ltd., a Cayman Island corporation administered by Trinity Fund Administration Limited.
• Altegris Investments - Hedge funds, managed futures and alternative investment products and services to help high net worth individuals and institutions build diversified portfolios.
• Alter Capital - Offers a club solution to selected individuals looking for access toward alternative assets, hedge funds and venture capital.
• Alternative Investment Strategies - An investment trust that is a listed in the UK. It is a globally diversified, multi-manager fund of hedge funds.
• ALT-FX Limited - Australian based hedge fund manager regulated and licensed by the Australian Securities and Investment Commission(ASIC). Runs a FX hedge fund domiciled in the Cayman Islands.
• Arden Asset Management - Investment Manager that offers resources for managing fund of hedge fund portfolios.
• Armajaro Asset Management - Manager of the Coolum Fund (a Pan European equity long/short market neutral strategy), Armajaro Commodities Fund (a pure commodities fund managed on a discretionary basis)and they are currently establishing a Fund of Hedge Funds.
• Around the Clock Trading and Capital Management, LLC - A domestic market neutral Hedge Fund limited to accredited investors.
• Artradis Fund Management - An absolute return asset management company focused on delivering above average, risk adjusted returns in Asian markets.
• ASA Home page - Money manager delivering non-correlated, absolute returns to its qualified investors. The Funds seek to maximize after tax, risk-adjusted returns.
• Aspect Capital UK - Alternative investment manager for institutions and wealthy individuals. Portfolios independent of stock and bond market indices.
• Asset Value Investors Limited - Money management firm established in 1985 to manage the assets of British Empire Securities & General Trust plc. In 2004 formed a US entity for managing US funds.
• Aster-X Capital Management BV - Hedgefund manager, alternative investments based in Amsterdam
• BlueCrest Capital Management - Hedge fund manager contact details, and password-protected information for investors.
• BluMont Capital - Canadian hedge fund company.
• Bonita Capital Management, LLC - A private investment management organization dedicated to market-neutral investing.
• Burlingame Asset Management - Manages Burlingame Equity Investors (BAM-I), a long-short value-oriented hedge fund.
• Cadogan Management, LLC - Private investment management and research specializing in hedge fund-of-funds.
• Camomille Associates Limited - Offers two open-ended investment products, the Camomille Global Macro Fund and the Momentum Global Fixed Income Fund.
• Cannonball Fund - A conservative fund of hedge funds that seeks to perserve capital across varied market conditions and to generate attractive risk-adjusted returns with limited correlation to major financial markets, through a multi-manager, multi-strategy approach to investing.
• Capital Fund Management - Paris based manager specialised in statistical arbitrage on futures,equities and options.
• Carnegie WorldWide Long/Short - Long/short fund whose primary objective is to deliver positive returns every year. The Fund's managers will seek to deliver the highest possible return taking into account the primary objective and with the 3-month money market rate as benchmark.
• Commerce Asset Fund Managers - Money manager for leading corporations, insurance, pension & unit trust funds and Government institutions. With paid up capital of RM5.5 million and authorised capital of RM10 million, funds are managed by a group of dedicated investment professionals with a combination of domestic and international expertise in the funds management industry.
• CooperNeff - Proprietary trading and fund management.
• creInvest: access to non traditional investments - Company listed on Swiss Exchange that gives its investors access to a diversified, professionally managed portfolio of international hedge funds.
• CSFB/Tremont Hedge Fund Indices - Provides hedge fund indice and subindice performance and analytics.
• Culross Global Management Limited - A Fund of Funds manager specialising in themed portfolios of Hedge funds.
• Cupps Capital Management - Site includes a description of CCM's investment strategy, investment process and historical returns.
• CyberFund, LLC - A value oriented private investment fund managed by Hammer Capital Management,Inc. They look to participate in the growth of the computer, telecommunications and advancing technology industries through a diversified portfolio.
• Deutsche Asset Management Australia - An Australia only fund manager offering individuals, financial advisers, institutions and private investors a full range of investment products and services
• Deutsche Bank Absolute Return Strategies - Global Hedge fund manangement business of Deutsche Bank.
• DFL Financial Services SA - Swiss financial company which specializes in offering financial services to institutional and private investors in all derivative and cash markets.
• DRC Capital, Ltd. - Venture capital fund investments in alternative energy, nanotechnology, American inventors, entrepreneurs, oil and gas, gold, real estate.
• Eagle Rock Diversified Investment Fund - Hedge Fund managed by Eagle Rock Partners. An exclusive membership-driven Hedge Fund Opportunity, for accredited potential individual, IRA, pension, corporate, trust, endowment, and family office investors
• Eclectica Asset Management - Founded in 2005 by two ex-partners of Odey Asset Management. It was established on the premise of performance-driven absolute return investing.
• Eiger Capital Limited - A credit research intensive investment manager specialising in the management of collateralised debt obligations, structured investment vehicles, and institutional corporate bond and asset-backed securities portfolios.
• EIM Group - Manager specialising in tailor-made Funds of Hedge Funds portfolios. A privately owned firm which prides itself on working independently and objectively.
• Endevon Capital, LLC - Manages multi-manager hedge fund portfolios for private clients, family offices and small institutions.
• Epic Capital Management Inc. - A long/short equity hedge fund. Our goal is to achieve superior risk-adjusted returns. The fund is managed by Dave Fawcett and Tom Schenkel.
• Everest Capital - A global investment advisory firm managing over $2 billion in a family of hedge funds for institutional and high net worth clients.
• EWorld Fund Management LLC - Specialized technology hedge fund.
• Fabien Pictet & Partners Ltd - Funds managed: FPP Emerging Hedge Fund I (Global, Absolute Return); FPP Emerging Markets Fund II (Global, Relative to MSCI); The 395 Fund (European Emerging Markets, Absolute Return; GEMs Bond Fund (Global Emerging Markets Absolute Return. Total AUM $200m USD.
• Ferrell Capital Management - Manager of a Multistrategy Fund of Hedge Funds / Absolute Return Strategy. The fund features controlled risk, consistant compounded returns and a low correlation to the S&P500 Index. The firm specializes in risk management.
• Finvest Primer - A long/short hedge fund which focuses on absolute returns regardless of market conditions.
• Fix Asset Management - Company specialises in the management of alternative investment portfolios since 1984.
• FMG - Fund managers limited - Selects the world's leading money managers and offers institutions and private investors a simple, effective and low-risk way to invest with them.
• Fundana Group - Investment advisors based in Geneva that advise on Fund of Fund products.
• Futuris Asset Management - Futuris Asset Management AB managers of the Swedish hedge fund FUTURIS
• Global Equities Management - An asset management firm specialized in Emerging Markets.
• Gordon Asset Management - A New York based firm which manages hedge fund of funds.
• Guaranteed Returns Diversified, Inc. (GRDI) - Guaranteed consistent high returns. (SEC warning for individual investors)
• Guidance Capital - Alternative investment manager offering hedge fund of funds. The firm offers a variety of products focusing on absolute return as well as long biased equities.
• Hedge Fund - Absolute Value Fund, LLLP - An onshore hedge fund which utilizes a top-down value approach to investing.
• The Hedge Fund Consistency Index Newsletter - Ranks and profiles on a risk-adjusted basis the most consistently performing Hedge Funds.
• Highpoint Capital Advisors - A long/short equity hedge fund focused on absolute, risk-adjusted returns with low volatility
• Hirst Investment Management Hedge Funds - Hedge Fund Manager.
• IKOS Fund Management - Fund management for investments such as statistical arbitrage and global equity.
• Indea Capital Pte Ltd - A Singapore based investment advisor which run Indea Absolute Return Fund , a hedge fund investing in India and Indian companies globally.
• Intelligo Capital Corporation - An alternative investment fund based in Canada. They offer to meet the needs of institutions and high net worth individuals who are seeking to diversify their investment holdings. They focus their investment strategy on the following markets: foreign exchange, fixed income, and selective exchange traded index futures.
• International Asset Management - Multi-manager of hedge funds based in the UK, offering alternative investment strategies to clients in UK, Europe, USA and rest of the world. - Site requires FLASH to view
• Ion Partners LLC - High-net worth individuals and institutional investor hedge fund manager.
• iPerform Investments - Hedge fund managers offering alternative investments to Canadians.
• Joe Feshbach Partners, LLC - Palo Alto based fund, managed by Joe Feshbach. The fund uses a long only proprietary strategy (Crisis InvestingSM) to create value in small to mid-cap stocks.
• Jon Sundt - Altegris Investments - Profile of hedge fund and managed futures firm president.
• Joy Asset Management ltd. - A licensed Financial Service Advisor, Asset Management and Introducing Broker. They offer hedge funds and managed accounts.
• Jupiter Asset Management - Hedge Funds - Offshore hedge funds with a team of fund managers.
• KGR Capital - Asian fund of hedge funds in Asia. Low volatility. Absolute returns. Diversified portfolio. Capital growth and preservation.
• Lampe, Conway & Co. LLC - Hedge Fund that specializes in distressed securities.
• LGT Capital Partners and Castle - An alternative asset and fund-of-funds manager in Europe, managing private equity and hedge fund investments on a global basis. Castle Alternative Invest is a global portfolio of hedge funds. Castle Private Equity is a global portfolio of private equity partnerships.
• Lindsell Train Limited - An independent Investment Management company that specialises in absolute return products.
• The Man Group - Provider of alternative investment products and solutions as well as a futures broker.
• Martin Quantitative, Inc. - Hedge Fund Manager - Alternative investments for accredited investors.
• Mellon Global Alternative Investments - Provides information on MGAI's range of hedge fund of funds solutions.Web site contains sophisticated charting tools built specific to the alternative risk market.
• Miton Investment Management - Investment advisor with fund of fund products.
• MSS Capital - Multi fund manager, located in London and the Provider of Alternative Assets.
• Newfield Partners LLC - A global distribution platform of world class hedge fund managers
• Nikitsky Russia/CIS Opportunities Fund - A long-short, absolute return vehicle, aiming to profit from mispricings, misinformation, and misconceptions about the Russian Market.
• Octagon Capital Management - A Singapore-based hedge fund company which adopts a quantitative approach to investing. They aim to generate superior absolute returns based on a disciplined quantitative investment process.
• Odey Asset Management - European hedge fund manager with $550 million under management.
• Old Hill Partners, Inc. - Registered Investment advisor that currently manages 5 fixed-income strategies. The firm invests primarily in highly collateralized fixed-income assets that are relatively short in duration.
• Olsen Managed Accounts - Managed accounts as a liquid investment for retail market: site offers opportunity to invest in currency hedge fund program developed by Olsen Ltd, a sister company of OANDA.
• Opportunity Hedge Fund - Fund which seeks growth of capital while tightly managing risk and volatility.
• Optimation Investment Management - Optimation Investment Management LLC creates investment products for sophisticated investors to deploy capital in the world's equity, commodities, and foreign exchange markets. Manages the Black Swan Fund.
• P2 Capital Partners, LLC: Investment Manager - Investment manager located in New York City.
• Pantheon Capital Management - Mangers of Pantheon Partners, a conservative technology hedge fund in public stocks. Their stated goal is to maximize capital gains in both long and short positions. Leverage is rarely used.
• Paradigm Global Advisors - Fund of hedge Funds - This site contains information regarding their theoretical and statistical approach to hedge fund investing. This site is a brief overview and introduction to their methodology. They were established in 1991.
• Park Place Capital Limited - UK-based investment advisory firm specializing in European long/short equity hedge funds. Founded 1991.
• Parkcentral Capital, LLP - An absolute return, relative value fund that invests in global fixed-income and equity-linked arbitrage opportunities.
• Pentagram Investment Partners - An experienced asset management firm offering focused investment products in alternative and more traditional asset classes developed after comprehensive analysis of the global marketplace.
• PrivateMortgageInvestment.com - High-yield private mortgage investment partnership.
• Prodis Advisors SA - Alternative investment specialist.
• Resolute Capital Growth Fund LTD - A British Virgin Island hedge fund offering low risk investment strategies.
• Rigel Fund - Diversified fund focused on futures, foreign exchange and fixed income products.
• Righthedge Investments LLC - A Canadian based hedge fund geared toward providing high Alpha,and low Beta by diversifying into different time frame horizons.
• The RMF Investment Group - An independent Alternative Investment Advisor focused on Institutional Clients including insurance companies, banks, pension funds, large corporations and distribution intermediaries. Not available to US or UK residents.
• SALUS ALPHA - An alternative strategies and fund of hedge funds manager headquartered in Europe.
• Sanno Point Capital Management - Manager of a multistrategy hedge fund.
• Sascam Global I - The first German Managed Futures Fund established under the legal form of an investment stock corporation with variable capital (the German equivalent to the Luxembourg SICAV), meeting all reporting and tax transparency criteria of the German Investment Act.
• Scandium Management - An offshore hedge fund of funds that seeks above average risk adjusted returns with no correlation to equity or bond markets.
• Schultze Assest Management, LLC. - Hedge fund management company. Specializes in the turnaround of bankrupt companies.
• Shoval Asset Management - Manager of funds that invest in multiple hedge funds for high net worth and institutional investors.
• Sigma Fund Sicav funds of hedge funds - Luxembourg Sicav comprising three absolute return funds of hedge funds: Sigma Fund Universal, Sigma Fund Valencia and Sigma Fund Man. Attractive risk-adjusted returns with low correlation to traditional assets.
• SKIRITAI Capital LLC - Investment fund in small and microcap companies.
• Sonz Partners - Hedge Fund established in 1986 by Paul D. Sonz.
• SP Trader Investment Futures Growth Fund - Investment Futures Fund with $150mm under management.
• Sprott Asset Management Inc. - Investment manager of hedge funds for high net worth individuals and institutional investors.
• Staats Capital Management - A private investment fund focused on undervalued securities and arbitrage situations.
• Stanfield Capital Partners - Specializes in providing credit based alternative investment strategies to investors globally.
• SUPERFUND Hedge Funds - QUADRIGA - Hedge Funds for the private investor.
• TechInvest - Australian based international equities manager. Focusing on investing globally in health care, information technology and telecommunications. Manager of long bias and market neutral long/short equity funds.
• Turnstone Asset Management - Fund of hedge funds manager, focused on achieving absolute returns for its clients using "long / Short" strategies.
• Uniastrum Capital Hedge Fund - UK based investment company specializes in alternative investments and managed futures.
• Unicom Capital LLC - An investment management firm specializing in the global equities market.
• Vision Investment Management: Hedge Fund Specialist in Asia - Asia based hedge fund specialist headquartered in Hong Kong that offers fund of fund products as well as proprietary hedge funds.
• VN Capital Management, LLC - A non-registered investment advisory firm located in New York, New York that manages the VN Capital Fund I, LP, a Delaware based hedge fund that holds a concentrated portfolio of small-cap equities.
• 4X Capital Management LLC - Global Macro manager offering absolute return directional strategies in global equities, futures (commodities and financial) and foreign exchange.
• Zephyr Management - Asset management company with various international funds.

- Richard

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7. Hedge Fund Strategies

Permanent Link:Hedge Fund List

Related Terms: Hedge Fund List, List of Hedge Funds, Hedge Fund Directory, Hedge Fund Websites, Hedge Funds Online, Hedge Fund Information, hedgefundslist, hedgefund list, hedge fund list, hedge fund listing, hedge fund lists, hedge funds list, hedge funds lists, hedge fund manager list, hedge fund website list, list of hedge funds, list of hedgefund
List Source: ODP

Link to This Resource: Hedge Fund List

http://richard-wilson.blogspot.com/2007/12/hedge-fund-list.html

Hedge Funds Face Financial Ruin!

Hedge Funds Face Financial Ruin! (or not)

Here is a blog post that generalizes hedge funds as speculative risky/leveraged vehicles which are "facing financial ruin." Within the article Dean Baker discusses some current issues in the market which are a whole separate discussion but he starts by saying "Hedge Funds are facing financial ruin." While a few hedge funds are always facing financial ruin here are 4 points on why the whole industry is not.


1. There are 10,000 reported hedge funds and probably closer to 15,000 total in existence. Of all of those only around 80 have reportedly closed in 2007.

2. Hedge Funds employe literally hundreds of distinguishable strategies only some of which use leverage. Even if one whole strategy took 20 hedge funds off the map that would be a blip on the radar of this $3 trillion industry.

3. Hedge funds gained $275 billion in the first 3 quarters of 2007 vs. mutual funds gaining only $70 billion. Hedge funds are growing 3x as quickly

4. Last month a report came out from the Institute of Private Investors surveyed the ultrawealthy and 25% reported that they would be increasing their allocation to hedge funds, not decreasing it.

This is one of the reasons why I am writing this blog. There is a large disconnect between the sophisticated investor's knowledge of how hedge funds are run and the general publics view of what a hedge fund is.

Related Articles:

• Hedge Fund Performance
• Top Performing Hedge Funds
• Alternative Investments Outperform
• Hedge Funds Failing or Thriving?
• Hedge Fund Performance Q1 2008
• Hedge Fund Returns
• Top 10 Hedge Fund Trades of 2007
• Hedge Funds - Kings of the Jungle
• Hedge Fund Bandits
• Hedge Fund Performance - Finance Sector
• Hedge Fund Decline
• Hedge Fund Hurdle Rate Definition - What is a Hurdle Rate?
• Hedge Funds Returns
• Hedge Fund Assets

- Richard

Permanent Link:Hedge Funds Face Financial Ruin
Related Terms: Hedge Fund Asset, Hedge Fund Survey, Hedge Fund Investor, Hedge Fund Report

Link to This Resource: Hedge Funds Face Financial Ruin!

http://richard-wilson.blogspot.com/2007/12/hedge-funds-face-financial-ruin.html

Why Are Hedge Funds So Successful?

Why Are Hedge Funds So Successful?

I found an interesting discussion of this topic within a University of Chicago Law Blog if anyone is interested.

Link: Why are Hedge Funds So Successful?

Related Articles:

• Top Performing Hedge Funds
• Alternative Investments Outperform
• Hedge Funds Failing or Thriving?
• Hedge Fund Performance Q1 2008
• Hedge Fund Returns
• Top 10 Hedge Fund Trades of 2007
• Hedge Funds - Kings of the Jungle
• Hedge Fund Bandits
• Hedge Fund Performance - Finance Sector
• Hedge Fund Decline
• Hedge Fund Hurdle Rate Definition - What is a Hurdle Rate?
• Hedge Funds Returns
• Hedge Fund Assets
• Diversified Investment Advisors
• Policy Effect
• Citigroup Hedge Fund

- Richard

Link to This Resource: Why Are Hedge Funds So Successful?

http://richard-wilson.blogspot.com/2007/12/why-are-hedge-funds-so-successful.html

Hedge Fund Gaining the Trust of the Ultraweatlhy

Hedge Funds & the Ultrawealthy

A recent study by the Institute for Private Investors showed that the ultrawealthy are increasingly allocating more of their portfolios to hedge funds. Ultrawealthy investors are those who are typically define as having over $50M in investible assets, they are sometimes also referred to as ultra high net worth individuals (uhnw).

In this most recent study 25% of the ultrawealthy who responded to the study said they were looking to increase their allocation to hedge funds while 11% said they were planning on decreasing their exposure to this type of investment vehicle.

An additional strong point that came out of the survey was that 63% of the respondents planned on increasing their investments outside of their own domestic markets.

The move to a larger allocation to emerging and developed markets internationally has been running parallel to hedge funds for several year now and some internationally focused hedge funds have faired quite in terms of performance returns and asset growth from new investors.

- Richard

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Permanent Link: Hedge Funds Gaining the Trust of the Ultrawealthy

Related Terms: Ultrawealthy, UHNW, ultra high net worth individual, ultra high net worth investments, ultrawealthy investment options, high net worth, high net worth investment

Source: Investment News & Institute for Private Investors

Picture Source: MemphisMuseums

Link to This Resource: Hedge Fund Gaining the Trust of the Ultraweatlhy

http://richard-wilson.blogspot.com/2007/12/hedge-fund-gaining-trust-of.html

Sovereign Wealth Funds

No longer to be ignored sovereign wealth funds seem to be popping up in the WSJ as often as Ipod advertisements and pink slips for CEOs. These are pools of fully discretionary capital that are controlled by the government an often times but a small financial committee of close political allies to the president or leader of the respective nation where the funds are based. Many of these funds range in the tens to hundreds of billions of dollars and some have estimated that this pool of capital will grow from $3 trillion to over $12 trillion by 2012.

Many of these sovereign wealth funds have made headlines by taking large long-term positions in western companies such as Citigroup. Below are some of the recent transactions involving hedge funds and banks who invest in hedge funds:

• UBS sold a 9% stake to the Government of Singapore Investment Corporation and another $1.77B stake to a undisclosed investor from the Middle East
• Abu Dhabi Investment Authority the sovereign fund of the Gulf Arab state acquired a 4.9% state in Citigroup for $7.5B
• Central Hujin Investment Co. acquired 71% of China Everbright Bank for $2.7B
• Dubai International Capital, ran by Dubai's ruler Sheikh Mohammed bin Rashid Al Moktoum acquired 9.9% stake in Och-Ziff Capital Management Group for $1.1B
• China's Citic Securities and Bear Stearns agree to invest $1B in each other and run a 50/50 JV in Hong Kong
• Abu Dhabi-based Mubadala Development Co. of the Abu Dhabi government regime paid $1.35B for a 7.5% stake in Carlyle Group
• Dubai International Capital took a 2.87% in ICICI Bank of India for $750M
• China state investment company paid $3B for a 10% stake in Blackstone
• Dubai International Capital bought an undisclosed stake in HSBC Holdings

Read dozens of additional articles like this within the guide to Hedge Fund Terms and Definitions.

- Richard

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• Hedge Fund Interview: Larry Jones, CIO of Nedgroup Investments
• Hedge Fund Regulations Video
• Sovereign Wealth Funds Debate Video
• Sovereign Investment Funds
• Hedge Fund Markets
• Drake Capital Advisors, LLC

Permanent Link:Sovereign Wealth Funds

Related Terms: Sovereign Wealth Funds, Foreign Wealth Funds, Superfunds, Government Investment Company, Sovereign Wealth Fund Investment, Middle East Fund, hedge fund

Link to This Resource: Sovereign Wealth Funds

http://richard-wilson.blogspot.com/2007/12/sovereign-wealth-funds.html

Hedge Fund Tax Video

Hedge Fund Taxes

Direct Link: http://www.youtube.com/watch?v=Hysnk-wx0Xk

Tired of reading articles? Watch more videos like this one above within the Hedge Fund Videos Directory.

- Richard

Articles Related to Hedge Fund Tax:

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• Economic Crises
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• Sovereign Wealth Funds
• Hedge Fund Leverage
• Structured Securities
• Hedge Fund Trends
• Short Selling & Liquidity
• Hedge Fund Company
• Fund of Funds

Permanent Link:Hedge Fund Taxes

Related Terms: Hedge Fund Tax, Hedge Fund Taxes, Hedge Fund Tax Update, Hedge Fund Tax Rate, Hedge Fund Tax Rates, Hedge Fund Taxes, Alternative Investment Taxes, politics around hedge funds and taxes

Link to This Resource: Hedge Fund Tax Video

http://richard-wilson.blogspot.com/2007/12/hedge-fund-tax-video.html

Hedge Funds Crush Mutual Funds

Interesting fact for anyone out there working in the hedge fund industry or tracking its growth. In 2007 hedge funds have gained over $279 billion in assets while mutual funds have only gained $79 billion.

"The hedge fund industry's 3.5% return in October was the highest in the past seven years," says Sol Waksman, chief executive officer of BarclayHedge Ltd. "Nevertheless, recent market turmoil has made investors a bit more cautious about investing in hedge funds."

- Richard

Articles Related to Hedge Funds outperforming Mutual Funds:

• Hedge Fund Performance
• Top Performing Hedge Funds
• Alternative Investments Outperform
• Hedge Funds Failing or Thriving?
• Hedge Fund Performance Q1 2008
• Hedge Fund Returns
• Top 10 Hedge Fund Trades of 2007
• Hedge Funds - Kings of the Jungle
• Hedge Fund Bandits
• Hedge Fund Performance - Finance Sector
• Hedge Fund Decline

Permanent Link:Hedge Funds Crush Mutual Funds
Related Terms: Hedge Fund assets, Hedge Fund Industry Growth, BarclayHedge LTD., Hedge Fund Market, Hedge Fund Investing, Hedge Fund Turmoil, Hedge Fund Investors
Article Source: HedgeWeek

Link to This Resource: Hedge Funds Crush Mutual Funds

http://richard-wilson.blogspot.com/2007/12/hedge-funds-crush-mutual-funds.html

Hedge Fund Regulation

Hedge Fund Regulation Video

Below Houman Shadab of George Mason University analyzes the markets and hedge fund regulation.

Videos Related to Hedge Fund Regulation:

• Hedge Fund Strategies
• Hedge Fund Margin Calls
• Economic Crises
• Hedge Fund Risk
• Sovereign Wealth Funds
• Hedge Fund Leverage
• Structured Securities
• Hedge Fund Trends
• Short Selling & Liquidity
• Hedge Fund Company

- Richard

Permanent Link: Hedge Fund Regulations Video
Related Terms: Hedge Fund Regulation, Hedge Funds Regulation, Hedge Fund Regulations, The Regulation of Hedge Funds, Alternative Investment Regulations

Link to This Resource: Hedge Fund Regulation

http://richard-wilson.blogspot.com/2007/12/hedge-fund-regulation.html

Top 100 Hedge Funds

Notes on Top Hedge Funds

Somebody recently posted this great list of the top Hedge Funds within the hedge fund message board connected to this blog. This PDF document covers the hedge fund name, strategy, location, assets under management, and why it is an important hedge fund to watch. The top hedge funds mentioned in this list are mostly located in Greenwich Connecticut, New York, and London.

If you are looking for details on an individual fund Hedge Funds and the managers that run them, here are some which were listed by the FT as the top 100 hedge funds to watch:

• Angelo Gordon, John Angelo and Michael Gordon
  
• AQR Capital Management, LLC, Clifford Asness
• Appaloosa Management, David Tepper and Jack Walton
• Atticus Capital, Timothy Barakett, David Slagger
• Avenue Capital, Marc Lasry, Sonia Gardner
  
• Bessent Capital, Scott Bessent
  
• The Blackstone Group | Kailix Advisors, J Tomlinson, Bruce Amlicke, Halbert Lindquist
  
• Blue Ridge Capital, John Griffin
• Blue Mountain Capital Managment, LP Andrew Feldstein, Stephen Siderow, Gery Sampere
  
• BP Capital Management, T Boone Pickens
• Bridgewater, Ray Dalio
  
• Bull Dog Investors, Philip Goldstein
  
• Cantillon, William Von Mueffling
  
• Blue Wave (Caryle Group), Ralph Reynolds, Rick Goldsmith
  
• Caxton Associates, Bruce Kovner
  
• Centaurus Energy, John Arnold
  
• Cerberus Capital Management LP, Steve Feinberg
  
• Citadel Investment Group LLC, Ken Griffin
  
• Citigroup/Tribeca, Oliver Dobbs, Albert Ee, Gay Huey Evans, Steve Geovanis, Rick Harrell, Sofia Katzap
  
• Clarium Capital Management, Peter Thiel
  
• Convexity, Jack Meyer
  
• DE Shaw, David Shaw
  
• Dillon Read (UBS), John Costas, William Brown, John Larum, Joe Scoby
  
• Elliot Associates, Paul Singer
  
• ESL Investments, Edward Lampert
  
• Eton Park, Eric Mindich
  
• Farallon Capital Management Partners LP, Thomas Steyer
  
• Fortis Investments, Wes Edens
  
• FrontPoint, Gil Caffray
  
• Greenlight Capital, David Einhorn
• Goldman Sachs Asset Management, Eric Schwartz, Peter Kraus
  
• Highfields Capital, Jonathon Jacobson, Richard Grubman
  
• Icahn Partners, Carl Icahn
  
• JP Morgan/Highbridge Capital Management LLC, Glen Dubin
  
• JWM Partners, John Meriweather
  
• Kingdon Capital, Mark Kingdon
  
• Kynikos, James Chanos
  
• Lone Pine Capital, Stephen Mendell JR.
• Magnetar, Alec Litowitz
  
• Maverick Capital Management, Lee Ainsile
• Millennium Partners, Israel Englander
  
• Moore Capital, Louis Bacon
  
• Och Ziff Capital Management Group, Dan Och
  
• Omega Advisors, Leon Cooperman
  
• Ospraie Management, Dwight Anderson
• Paulson & Co., John Paulson
  
• Pequot Capital Management, Arthur Samberg
  
• Perry Capital, Richard Perry
  
• PSAM, Peter Schoenfeld
  
• Renaissance Technologies, James Simmons
  
• SAC Capital, Steven Cohen
  
• Silver Point Capital, Edward Mule, Robert o'shea
  
• Third Point Partners, Daniel Loeb
  
• Touradji Capital, Paul Touradji
  
• TPG-Axon, Dinakar Singh
  
• Trafelet & Co, Remy Trafelet, LC Kvaal
  
• Tudor, Paul Tudor Jones
  
• Soros Fund Management LLC, George Soros
• York Capital, James Dinan
  
• Barclays Global Investors, Stan Beckers, Ken Kroner
  
• BlueBay Asset Management, Hugh Willis, Mark Poole
  
• BlueCrest Capital, Michael Platt, William Reeves
  
• Boussard & Gavaudan, Emmanuel Boussard, Emmanuel Gavaudan
  
• Brevan Howard, Alan Howard
  
• Brummer & Partners, Patrik Brummer
  
• Cambridge Place Investment Management, Martin Finegold, Bob Kramer
  
• Centaurus Capital, Bernard Opetit, Randy Freeman
  
• Cheyne Capital, Jonathon Lourie, Stuart Fiertz
  
• CQS, Michael Hintze
  
• Egerton Capital, John Armitage
  
• Ferox Capital, Jeremy Hermann
  
• Fulcrum Asset Management, Gavyn Davies
  
• Gartmore, Roger Guy
  
• GLG Partners, Noam Gottesman, Pierre Lagrange, Emmanuel Roman
  
• Hermitage Capital Management, William Browder
  
• KBC Alternative Investment Management, Carlo Georg
  
• Lansdowne Partners, Paul Ruddock, Steven Heinz, Peter Davies, Stuart Roden
  
• London Diversified Fund Management, David Gorton
  
• Man Group / AHL, Tim Wong
  
• Marshall Wallace, Ian Wace, Paul Marshall
  
• Jabre Capital Partners, Philippe Jabre
  
• Polygon Investments, Reade Griffith, Alexander Jackson, Paddy Dear
  
• RAB Capital, Philip Richards
  
• Red Kite, Michael Farmer, David Lilley, Oskar Lenowski
  
• Sloan Robinson, Hugh Sloane, George Robinson, Richard Chenevix-Trench
  
• Children's Investment Fund Management TCI, Chris Hohn
  
• Thames River Capital, Charlier Porter
  
• Tocasfund, Martin Hughes
  
• Vega Asset Management, Ravinder Mehra
  
• ADM Capital, Robert Appleby
  
• Basis Capital, Steve Howell, Stuart Fowler
  
• Artradis Fund Management, Richard Magides, Stephen Diggle
  
• LIM Advisors, George Long
  
• Platinum Asset Management, Kerr Neilson
  
• Sparx Group, Shuhei Abe
  
• Tantallon Capital, Nick Harbinson
  
• Winnington Capital, Kenneth Hung
  

- Richard

Permanent Link: Top 100 Hedge Funds

Articles Related to "Top 100 Hedge Funds"

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5. Geographical Hedge Fund Guides
6. Hedge Fund book
7. Best Hedge Funds
8. Top Alternative Investment Managers | New List
9. Canada Hedge Fund Guide
10. Texas Hedge Fund Guide
11. San Francisco Hedge Fund Guide
12. California Hedge Fund Guide
13. London Hedge Fund Guide

Related Terms: top hedge funds, top hedge fund, top performing hedge funds, top hedge fund managers

Report Source:

Direct Link: Top 100 Hedge Funds to Watch

Link to This Resource: Top 100 Hedge Funds

http://richard-wilson.blogspot.com/2007/12/100-hedge-funds-to-watch.html

Sand Aire Family Office Interview

Family Office Interview

Family offices often serve high net worth and ultra high net worth individuals that approach the same level of investment sophistication of the largest endowment and pension funds. A large percentage of multifamily offices use hedge funds and on a whole they have been increasing their allocations to hedge funds and other alternative investments such as private equity.

Below is a link to an interview done by Karen Jones of CityWealth with Alex Scott and Marcus Gregson who run Sand Aire in London. Sand Aire is one of the top five multifamily offices in London.

Family Office Management Interview
http://www.citywealthmag.com/Citywealth_SandAire_Edition_67.pdf

- Richard

Articles Related to this Sand Aire Family Office Interview:

1. What are Multi-Family / Family Offices?
2. Family Offices Group .com
3. Family Office Management Interview
4. Using Hedge Funds in Financial Planning
5. Family Office Wealth Management
6. Family Office Hedge Fund

Permanent Link:Sand Aire Family Office Interview
Related Terms: family office management, family office services, multifamily offices, multi-family office, boston family office, new york family office, CT family office

Special thanks to Karen Jones for providing this interview commentary

Link to This Resource: Sand Aire Family Office Interview

http://richard-wilson.blogspot.com/2007/12/sand-aire-family-office-interview.html

Hedge Fund Books

Hedge Fund Book

Free Hedge Fund Book Download

I have written a e-book on hedge funds called the Hedge Fund Blog Book.


This Hedge Fund E-Book is simply a compilation of my 400 blog entries on hedge funds made over the past couple of quarters. No work has been done to organize or edit this book at this point in time, but in the future I’ll try to construct rough chapters such as Hedge Fund Strategies, Hedge Fund Due Diligence, Hedge Fund Book Reviews, International Hedge Funds, etc. Once 100,000 have downloaded this free book I will publish the book in print.

Why is this hedge fund book free? I believe in doing business through giving value first and building long-term relationships more than collecting $2 royalties off of book sales.

Hedge Fund Book/Blog Feedback:

• Great Book, it is hard to find hedge fund books that are easy to understand
• I found your hedge fund book and blog, thank you for these resources
• I have added your blog to my favorites, I will look at your hedge fund book once you get it in paperback form
• You have a crazy blog, I just downloaded your hedge fund book and I hope we can talk after I get a chance to read through it
• I downloaded your free hedge fund book please add me to your list of professionals who would pay for it in printed form
  
  

- Richard

Permanent Link: Free Hedge Fund Book

Related Posts:

1. Hedge Fund Book
2. Hedge Funds
3. Hedge Fund Research
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5. Investment Book
6. Hedge Fund Employment
7. Hedge Fund Performance
8. Hedge Fund Terms
9. Hedge Fund Due Diligence
10. Hedge Fund Strategy
11. Investment Book Reviews

Related Terms: hedge fund book, hedge fund ebook, free book on understanding hedge funds, best hedge fund books, book on hedge funds

Link to This Resource: Hedge Fund Books

http://richard-wilson.blogspot.com/2007/12/free-hedge-fund-book.html

Hedge Funds in Japan (Report)

If anyone is looking to market a hedge fund or open a hedge fund in Japan I found a report on the current state of that market. The report was created by the Financial Services Agency of Japan and it was based off of a survey of 1,252 financial institutions in Japan. Here are some interesting stats pulled from the report:

• There was a 22% increase in hedge fund investments between 2005 and 2006
• Investors were largely diversified with 26% by insurance companies, 15% by trust banks, 24% by major banks, 15% by regional banks and 20% by other organizations.
• Top 35 investors accounted for 80% of the total hedge fund investments in Japan
• 10% of the total investor base account for almost 6 Trillion yen invested in hedge funds
• 60% of hedge funds are dnominated in yen while the remainders are denmoniated in foreign currencies such as the US dollar Euros, etc.

View the complete Japenese Hedge Fund Report

Articles Related to Hedge Funds in Japan:

• Geographical Hedge Fund Guides
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• Chicago Hedge Fund Guide
• Boston Hedge Fund Guide
• European Hedge Fund Guide
• Singapore Hedge Fund guide
  
• Dubai Hedge Fund Guide
• Hong Kong Hedge Fund Guide
• China Hedge Fund Guide

Permanent Link: Hedge Funds in Japan

Tags: Hedge Funds in Japan, Japanese Hedge Funds, Japan Hedge Fund, Tokyo Hedge Fund Manager, Hedge Fund Marketing and Sales in Japan

Picture Source: ESA Media

Link to This Resource: Hedge Funds in Japan (Report)

http://richard-wilson.blogspot.com/2007/12/hedge-funds-in-japan-report.html

Hedge Fund Redemptions

Hedge Fund Redemptions

After investing in hedge funds some accredited investors have a much harder time getting their money out of a hedge fund then into them. While this is often preventable it is usually the result of:

• Preset lockup periods where investors must keep their money in the fund for a minimum of 6 months to 3 years depending on the fund mandate but negotiable


• The liquidity of the asset classes the hedge fund deals with. Some hedge funds work in such illiquid markets that they will have redemption clauses in their contracts that allow them to wait 3-12 months for more liquid markets before being forced to sell a position.


• Arbitration. The process of going through arbitration and looking at which funds have been through it before can vary widely and be difficult. While a definate exception to the rule if you get invested with a rogue hedge fund manager you might have to chase them through arbitration or other legal means to redeem your initial investment.

All of this lends to making sure you have your investment goals and expectations clearly defined so they can included in research a hedge fund consultant does for you and so you can just keep these extra thing in mind while doing research yourself. Many hedge funds do not have lockup periods of more than 3-6 months and the majority work in relatively liquid markets. As the Financial Times put it, "The salutary lesson for those wanting to invest directly in hedge funds is that, under the commonly used limited partnership framework, they are, in effect, going into business with a managing partner, not just investing."

Read dozens of additional articles like this within the guide to Hedge Fund Terms and Definitions.

- Richard

Related Articles:

• Hedge Fund Marketing Guide
• Hedge Fund Terms & Definitions
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• Hedge Fund Performance Category
• Miscellaneous Hedge Fund Information

Permanent Link:Hedge Fund Redemptions

Related Terms: Hedge Fund Redemption, Hedge Fund Managing Partner, Hedge fund Liquidity, Hedge Fund Asset, Hedge Fund Market, Hedge Fund Accredited Investors, Hedge Fund Due Diligence, Hedge Fund Investing

Story Source: FT

Picture Source: Credit E

Link to This Resource: Hedge Fund Redemptions

http://richard-wilson.blogspot.com/2007/12/hedge-fund-redemptions.html

Total Hedge Fund Assets Near $3 Trillion

Total Hedge Fund Assets Near $3 Trillion

Hedge Funds closed the third quarter with over $2.7 Trillion in total assets under managment. In 2007 alone hedge fund assets have risen $337B so far with one quarter left to go. It is possible that the industry could gain in excess of $500B for the year. $50B of this year's $337B came from emerging market hedge funds growth with most of those assets being allocated to Chinese and Brazilian hedge fund managers. Other current year trends have been the increasing difficult time that small emerging hedge fund managers have had raising assets, and how their is increased compition among accredited and institutional investors due to large hedge funds keeping their funds open to new investments longer.


These types of statistics are important to keep in mind, if in 9 months hedge funds gained $337B then on average hedge funds raised over $37B per month. So when you read an article about a hedge fund blowing up and losing $2B it is a horrible stituation for that hedge fund manager and their investors but industry wide it is a fleck on the radar and the former level of hedge fund industry assets are gained back in less than 2 days.

Related Articles:

• Hedge Fund Marketing Guide
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• Hedge Fund Employment Guide
• Hedge Fund Strategy Guide
• 52 Most Popular Hedge Fund Articles
• Investment Book Reviews
• Geographical Hedge Fund Guides
• Hedge Fund Performance Category
• Miscellaneous Hedge Fund Information

Permanent Link:Hedge Fund Assets Near $3 Trillion
Related Terms: Hedge Fund Assets, Hedge Fund Asset Growth, Hedge Fund Industry Statistics, Hedge Funds 2007, Brazilian Hedge Funds, Chinese Hedge Funds, Hedge Funds in China, Hedge Funds in Brazil
Story Source: Financial News
Picture Source: Mcgugin

Link to This Resource: Total Hedge Fund Assets Near $3 Trillion

http://richard-wilson.blogspot.com/2007/12/total-hedge-fund-assets-near-3-trillion.html

The Benefits of Hedge Fund Investing

The Benefits of Hedge Fund Investing

There are many benefits of investing in hedge funds. Most of these are not readily explained with news articles that you might read in the Wall Street Journal or Investors Business Daily. Below is a white paper updated in 2006 that discusses the benefits of investing in hedge fund portfolios.

Hedge Fund Investing Benefits White Paper

- Richard

Additional Articles:

1. Hedge Fund Marketing Guide
2. Hedge Fund Terms & Definitions
3. Hedge Fund Due Diligence
4. Hedge Fund Employment Guide
5. Hedge Fund Strategy Guide
6. 52 Most Popular Hedge Fund Articles
7. Investment Book Reviews
8. Geographical Hedge Fund Guides
9. Hedge Fund Performance Category
10. Miscellaneous Hedge Fund Information

Permanent Link: Benefits of Hedge Fund Investing
Related Terms: Hedge Fund Investing, Investing in Hedge Funds, Hedge Fund Benefits, Hedge Fund of Fund Investing, Hedge Fund Investing Description

Link to This Resource: The Benefits of Hedge Fund Investing

http://richard-wilson.blogspot.com/2007/12/benefits-of-hedge-fund-investing.html

Litigation Funding

Litigation Funding Hedge Fund Strategy

The latest hedge fund strategy to emerge internationally is litigation funding. This is where a hedge fund dedicates a portfolio or section of a portfolio towards funding litigation that the manager believe highly favors the party they are supporting. With third party litigation funding, the investors cover a portion or all of the costs of litigation in exchange for a share of awards by the court. Funds employing this strategy retain legal experts and refer to niche experts on each case before weighing in on the change of possible victory. MKM Longboat, a British hedge fund has had dedicated $100M towards a litigation funding portfolio focussed on legal cases in Europe.

The growth of litigation funding is an important development because it could be yet another way for hedge funds to produce un-correlated returns to the general stock market. Cases are decided and awards appointed regardless of bear and bull markets. Three interesting developments might arise out of this movement.

1. I wonder how many litigation funding hedge funds will sponsor litigation cases involving other hedge funds.
2. The number of hedge fund savvy lawyers hanging their own shingle on this strategy could explode by the 3rd and 4th quarter of 2008.
3. If the market became large enough some funds might turn into "green litigation funding" firms only support cases helping the environment, etc. That could get interesting playing off of current market trends.

12.12.07 Update: Litigation Funding Example

Additional Relevant Articles:

http://www.law.com/jsp/article.jsp?id=1178701483131
http://www.portfolio.com/careers/features/2007/08/06/Secret-Lives-of-Hedge-Fund-Lawyers

Read dozens of more articles like this within my Hedge Fund Strategy Guide.

Related Articles:

• Hedge Fund Marketing Guide
• Hedge Fund Terms & Definitions
• Hedge Fund Due Diligence
• Hedge Fund Employment Guide
• Hedge Fund Strategy Guide
• 52 Most Popular Hedge Fund Articles
• Investment Book Reviews
• Geographical Hedge Fund Guides
• Hedge Fund Performance Category
• Miscellaneous Hedge Fund Information

Permanent Link: Litigation Funding
Related Terms: Litigation Funding, Litigation Fund, Litigation Hedge Fund, Litigation Capital, litigation funded by hedge funds, hedge fund litigation stories, hedge fund litigation fund, litigation funding, litigation funding groups, litigation funding articles

Link to This Resource: Litigation Funding

http://richard-wilson.blogspot.com/2007/12/litigation-funding.html