Richard C. Wilson's Blog : 10/1/10

Japanese Pension Funds

New Fund of Hedge Funds Targets Japanese Pension Funds

A New York-based hedge fund is launching a fund of hedge funds that will target Japanese pension funds. AIFAM Inc. has launched AIFAM Hedged Equity Fund which debuted yesterday with $17 million but hopes to raise $150 by the end of the quarter.

The AIFAM Hedged Equity Fund is targeting returns of about 6% per year, founder Takuma Aoyama told Bloomberg News. The fund, which debuted with US$17 million in proprietary capital yesterday, hopes to raise US$50 million by the end of the first quarter and US$150 million in its first year.

"Japanese pension funds are faced with serious problems," Aoyama said. "We're not making any promises that we're going to offer a fund that will not be affected by the market moves at all, but instead, we're going to offer a fund that will allow investors to shrink their losses with the same capital they may invest in other asset classes."

The new fund has a capacity of about US$1 billion and invests in between 12 and 15 underlying global long/short managers, including some sector-specific managers. It will steer clear of emerging managers and those with long lockups, with a goal of being able to liquidate the entire portfolio in a month.

The fund will charge no performance fees, to avoid incentivizing its management team to take greater risks. Source

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Un Fonds Spéculatif

What Not to Say in France: [I Work For] Un Fonds Spéculatif

According to Financial News, on your list of phrases not to say in France add: "[I work for] Un Fonds Spéculatif. This reflects the reputation hedge funds have in France, that the industry is somewhat murky and involves high risk. In the following article, FN talks about how that reputation is changing.

The new pan-EU securities regulator – the European Securities and Markets Authority, or Esma, which has a responsibility for regulating hedge funds – is to be based in Paris. However, most French hedge fund managers, like a sort of French foreign legion, work in the UK. London’s hedge fund community is full of French nationals, which has contributed to South Kensington’s nickname as “le quartier français de Londres”.

Georges Gedeon, a former partner at GLG in London who set up a hedge fund firm, Mereor Management, in Paris this year, said in May that “London is where the brain is.” Mereor plans an office in London.
Denis Beaudoin, chief executive of Finaltis, a managed futures fund, said: “We’re based in Paris – an original mistake – but we stayed here. To set up a hedge fund in Paris now you have to be slightly masochistic or truly patriotic.”

In France, as Esma will discover, the environment for hedge funds is hostile. Not only are the doubts about the industry implicit in the French name for it, suspicion has been encouraged by France’s politicians. President Nicolas Sarkozy has labelled hedge funds “predators” and “asset strippers.” Source

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PAAMCo SEC

SEC Opens Probe of Pacific Alternative Asset Management

Pacific Alternative Asset Management (PAAMCo), has had a tough few weeks following a US District Court case that revealed possible S. Donald Sussma's role in the firm. The fund of hedge funds firm has been accused of misleading investors and partners by claiming to be a woman-owned fund. Now, the Securities and Exchange Commission has opened an investigation of PAAMCo.

In a letter to investors, PAAMCo indicated that U.S. District Judge Richard Sullivan's ruling sparked the SEC's interest, Pensions & Investments reports. Sullivan in August granted Paloma Partners founder S. Donald Sussman, who seeded PAAMCo, a 40% stake in PAAMCO Founders, the fund of funds' parent company. Sullivan wrote in his decision that PAAMCo had structured Sussman's investment as a loan so that it would "qualify as a women-owned business," possibly misleading "a number of observers, from the tax authorities to the SEC to entities wishing to invest in women-owned businesses."

PAAMCo has denied Sussman's take on the situation, noting that it has never pursued mandates designed specifically for women- or minority-owned firms.

The fund of funds said it was cooperating with the SEC after it "determined it was important to proactively reach out to the SEC about the decision." PAAMCo said it had met with SEC representatives in Los Angeles and "answered all of their questions about the case." Source

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Tags: PAAMCO SEC, PAAMCO, PAAMCO hedge fund, PAAMCo securities and exchange commission, PAAMCo investigation, fraud, misleading investors

Hedge Funds High Water Mark

45% US Hedge Funds Say 1 or More Fund Under Water Mark

45% of American hedge fund managers say that one or more fund is under the high water mark. This finding represents how some hedge funds are still recovering from the financial crisis. This finding is part of the Greenwich Associates/Global Custodian Prime Brokerage Study.

The relatively large number of hedge funds struggling to reach prior high-water marks in performance is just one of several findings from the 2010 Greenwich Associates/Global Custodian Prime Brokerage Study demonstrating the extent to which the hedge fund industry is still feeling the after-effects of the global financial crisis — despite a period of strong investment performance that has helped the industry put some of the worst consequences of the crisis behind it.

Almost 55% of the U.S. hedge funds participating in the Greenwich Associates/Global Custodian Study and 35-40% of hedge funds in Europe and Asia reported performance of 20% or better from the first quarter of 2009 to the first quarter of 2010. Around the world, nearly 70% of hedge funds delivered investment returns of 11% or better and nine out of 10 reported positive performance for the 12- month period.

“The fact that so many funds remain under their high-water marks after a period of historically strong market performance demonstrates how great an impact this crisis had on hedge funds of all sizes and strategies,” says Greenwich Associates consultant John Feng. “While many aspects of the market are normalizing, our study results show that the events of the past two years have resulted in lasting changes from pre-crisis practices.” Source

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What Tools Are Available for Capital Raising or Hedge Fund Marketing?

Capital Raising & Hedge Fund Marketing Tools

Question: What Tools Are Available for Capital Raising or Hedge Fund Marketing?

Answer: As we have discussed in the past, there is no magic bullet to raising capital, no one tip or tool that makes the whole process easy...but there are many tools that can make the process eaiser. Here are some tools that will make your life easier:

Customer Relationship Management (CRM) or Investor Relationship Management (IRM) systems
Hedge Fund Marketing Mastermind Groups
A Master DDQ Completed and Fully Updated Quarterly
Email Marketing Autoresponders
Complete Hedge Fund Marketing Materials & FAQ 1 Pagers Created
Copywriting & Persuasive Writing Tools & Methods
Elance.com for research, outsourcing of specific operational tasks
Investor Databases such as Family Offices Databases or Hedge Fund Investor Directories
Certification or designation programs on capital raising and hedge fund marketing
Hedge fund marketing books, E-books, training seminars, newsletters
Hedge fund press releases

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Tags: capital raising tools, methods for hedge fund marketing, help with marketing hedge fund managers, learning how to raise capital in the hedge fund industry, experts and speakers on hedge fund marketing

Hedge Funds Options ETFs

Hedge Funds Buy Options on Exchange Traded Funds

It sounds counter-intuitive, but hedge funds buying up bearish options may be a signal that stocks are going to rally in the near future. According to technical analysis from Bloomberg, the fact that hedge funds are buying bearish options on exchange traded funds to shore up their positions is a sign that stocks could rally.

Since mid-September, the ratio of bought-to-open puts versus bought-to-open calls has been increasing on major ETFs, such as the SPDR S&P 500 ETF Trust, the PowerShares QQQ and the iShares Russell 2000 Index Fund, Salamone said. The increase in that ratio indicates that hedge funds may be boosting their long positions in the ETFs, because they could use the puts to protect them in case of declines.

“What that translates into is since these equity buyers are protected, they are less likely to panic on bad news,” Salamone, vice president of research at Schaeffer’s said in a telephone interview from Cincinnati. “When hedged hands are accumulating stocks, rallies tend to occur, and any selloffs tend to be modest given that they have put protection in place.”

The Standard & Poor’s 500 Index slumped as much as 16 percent from a 19-month high in April on concern about an economic slowdown. The U.S. equity benchmark is once again near its 2010 highs after falling to this year’s low in July, as companies reported better-than-estimated earnings and the Federal Reserve indicated that it will buy bonds to stimulate the economy. Source

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Man Group Jobs

Man Group to Cut Its Workforce by Ten Percent

Man Group is set to reduce its workforce by ten percent following the hedge fund's takeover of UK-based GLG Partners. The merger made Man Group the largest hedge fund firm in the industry, in terms of AUM and staff. One of the outcomes of this deal though is that 180-200 jobs will be cut.

Redundancies have already begun: two of Man Group’s most senior salespeople, Martin Keller, the head of institutional sales, and John Bennett, the head of UK distribution, left the firm this month.

Further cuts in sales jobs are expected as the integration of Man with GLG progresses. Man Group’s salesforce is to be relocated to GLG’s Mayfair offices. The combined group will still report to Christopher Möller, Man’s existing global head of sales.

The company will also continue to maintain its Swiss salesforce at its Pfäffikon office in the Canton of Schwyz.

Compliance and regulatory jobs associated with GLG’s listing in New York are also expected to go.

Although it is not anticipated that cuts will be made to any trading positions, questions still remain over what will be done with funds in the combined group that overlap in terms of strategies. Source

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What is the best major to complete in school to work in the hedge fund industry?

The Top 4 Best Hedge Fund Majors

1) Economics - Understanding how the economy works and what triggers economic events and valuation fluctuations is key to understanding hedge fund investment strategies. Studying economics also provides the benefit of being able to possibly complete an MBA in the future in Finance or Marketing without repeating the same classes over again.

2) Finance: Similar to economics understanding finance well and being able to analyze the financial statements, annual reports, and stock market is key to the majority of hedge fund investment strategies. If you are looking to be an analyst or portfolio manager than understanding both finance and economics is important.

3) Marketing: There is a huge need for more hard working, educated, and productive capital raisers in the hedge fund industry. I have never met anyone skilled at marketing in the hedge fund industry without far more opportunities than they could ever commit to. Those with just a few years of industry experience and a marketing degree could work for a hedge fund startup, third party marketing firm, or capital introduction team at a prime brokerage shop.

4) Programming: Financial models at both small and large hedge funds are built based on relatively simple programming languages or macros and being able to edit these or build them from scratch is valuable skill to have. If you combine real industry experience and some hedge fund industry training this degree could help position yourself as an asset to many managers.

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3 Spots Left in Intensive Hedge Fund Marketing Seminar on Monday November 1st, 2010

Hedge Fund Marketing Seminar FAQ

Thank you for everyone's support for our upcoming Hedge Fund Marketing Mechanics Workshop in NYC on November 1st, 2010 at the Harvard Club. We currently have just 3 seats left available and I'm writing this blog post to answer some common questions we have had about this event.

Question: Will you be making the video from this event available?

Answer: Yes, we are recording the event in HD video so that we can soon release a DVD-Workbook-Audio CD version of the event. This release will also include 6 expert audio interviews we have conducted over the phone with hedge fund marketers who have each raised over $100M for hedge fund managers.

Question: Will you be conducting this same event in Chicago, London, Geneva, or L.A.?

Answer: We will be hosting many more events but we are not ready to release that schedule yet. Once we release the DVD version of this first event we will release a more "set" schedule. We will most likely be holding our future events are different angles and niche topics related to hedge fund marketing so that repeat attendees can get something new out of each additional event we host.

Question: Can your firm help us raise capital?

Answer: Yes, in many ways actually. You could attend our hedge fund marketing workshop, obtain a family office database package, visit our blogs on hedge fund marketing or third party marketing, or complete the CHP Designation program which includes a Level 2 option specialty in Hedge Fund Marketing & Sales. We also have had over 100,000 professionals download our e-books on hedge funds and family offices and you may benefit from those as well.

Please send us your feedback and questions and we will get back to you ASAP.

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How does the CHP compare to other financial designations?

CHP & Financial Designation Choices?

Below is a question we got this morning about the CHP Designation.

Question: How does the CHP designation compare with other financial designation choices?

Answer: Sure, happy to answer your question:

The CHP Designation costs $899 for both Level 1 and Level 2 when tuition is paid for both levels at once and we have payment plans available.
The CHP Designation takes 1 full year to complete both levels of the program
We are unique in that we are the #1 globally recognized hedge fund certification program built for and by hedge fund professionals Our program costs 50% less than most competing designations while providing more coaching and video-based training modules than anyone else in the space.

Learn more at http://HedgeFundCertification.com

- Richard

Richard C. Wilson
Hedge Fund Group (HFG)
http://HedgeFundCertification.com

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Hedge Fund Side Pockets

SEC Looking into Hedge Funds Use of Side Pockets

The Securities and Exchange Commission is now targeting hedge funds again, this time for the use of side pockets. The SEC's Asset Management Unit is trying to figure out if hedge funds have charged investors higher fees based on inflated values of assets held in "side pockets."

Securities regulators charged two hedge fund managers at Georgia-based Palisades Master Fund with fraud on Tuesday, claiming they had overvalued illiquid assets placed in a "side pocket" to deceive investors and steal millions of dollars.

Hedge funds typically use "side pockets" to stash illiquid securities and avoid losses until the markets for the securities improve, but the U.S. Securities and Exchange Commission has heightened scrutiny of the practice recently.

In a civil complaint filed in U.S. District Court in Atlanta on Tuesday, the SEC claimed that hedge fund managers Paul Mannion, 48 and Andrew Reckles, 40, and their investment advisory company PEF Advisors misappropriated investor cash and securities by using the side pockets in 2005.

The SEC said that the fund had placed fraudulent values on convertible debt, bridge loans and restricted stock in the side pocket, and misrepresented values to investors. Source

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EU Hedge Fund Passport

EU Passport Expected to be Obstacle for Hedge Funds

The European Union's decision to adopt a "passport" system for foreign hedge funds and private equity funds operating within the EU is seen as a compromise compared to the stricter proposed measures that would have made things even more difficult for foreign funds. But still, the EU passport rule is expected to be a big obstacle for foreign funds looking to work in EU member countries.

U.S. hedge-fund managers may continue to face difficulties marketing their funds in Europe in the future, despite a European Union agreement on a more-lenient version of new rules for overseas hedge funds and private-equity firms, the EU's main hedge-fund lobby group said.

Under the rules, to be approved by the European Parliament, a "passport" will be created, allowing funds to operate throughout the 27-nation bloc. The passport concept will be first available in 2013 to funds based in the EU and then in 2015 to funds from outside Europe. The current private-placement regime is expected to continue before the new rules come into effect.

"In order to get the passport, a U.S. manager would have to demonstrate that they are in full compliance with the whole text of the directive—essentially that they would have to follow EU law in the U.S. That would mean that, for example, they would have to follow an EU pay code and defer potentially half their compensation for three years," the Alternative Investment Management Association's Chairman Todd Groome said in an interview Monday. Source

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Equity Hedge Funds Returns

Equity Hedge Funds Lead September Industry Gains

As we previously reported, hedge funds gained 3.7% as all strategies were positive in September. According to the The Bloomberg Aggregate Hedge Fund Index shows that equity hedge funds led the gains in September.

The Bloomberg Aggregate Hedge Fund Index itself surged into the black last month and is now up 2.6% on the year. With U.S. stocks enjoying their best September in more than 70 years, long-bias equity funds led the way with a 6% return (2.5% year-to-date).

Surprisingly, short-bias funds weren't far behind with a 4.9% return (4.4% YTD). Most hedge fund index families showed short hedge funds taking a beating, with many down by double-digits both on the month and year.

Emerging market equities also did well, adding 5.3% on the month (9.1% YTD). Equity fundamental market-neutral placed in September with a 5.2% return, but it wasn't enough to erase the strategy's 2010 loss, which now stands at 4.1%. It is the only strategy index in the red on the year. Source

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Technology Hedge Fund Opens

Technology Telecommunications & Media Hedge Fund Opens

A new fund focused entirely on technology, media and telecommunications has opened its doors to investors. The California-based hedge fund Thompson Peak Capital has been operating for months and currently manages $50 million in assets and hopes to multiply that number by 10 with contributions from outside investors.

The fund, which Thompson Peak has been running since the beginning of the year, currently has $50 million in assets, HFMWeek reports. It hopes initially to raise $500 million, half of its $1 billion capacity.
Basso Capital and Morgan Stanley veteran Gustavo Miguel serves as portfolio manager of the fund, which invests exclusively in U.S. companies and has between 15 and 20 positions. The fund charges 2% for management and 20% for performance and features a $1 million minimum investment requirement. Deutsche Bank serves as prime broker.

Thompson Peak was founded by Miguel and two others: David Siminoff, formerly of Capital Research and Management, and Michael Hourigan, formerly of Morgan Stanley's mergers and acquisitions group. Siminoff serves as chief investment officer. In addition, to coincide with the fund's public launch, the firm has recently hired a director of business development, Matthew Michelsen. Source

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Tags: Technology Hedge Fund Opens, Technology Hedge Funds, Technology Hedge Fund, Technology Telecommunications & Media Hedge Fund Opens

Hedge Funds Assets Peak

Hedge Funds Have Biggest Quarterly Gain of $120 Billion

Total hedge fund assets have risen to $1.77 trillion as of September 30, 2010. Hedge fund assets are still under the peak of $1.86 trillion reached in 2007 despite the industry's biggest quarterly gain in AUM of $120 billion in the third quarter.

Most of the increase came from investment performance, with the HFRI Fund Weighted Composite Index posting a gain of 5.17%.

Hedge funds also pulled in $19 billion of new money during the third quarter. It was the third consecutive quarter that investors added to their holdings of these private investment vehicles. The industry took in $9.5 billion of new money in the second quarter and $13.7 billion in the first quarter.

By comparison, investors yanked $131 billion out of hedge funds in 2009 after withdrawing $154 billion in 2008.

HFR said the combination of investment performance and new investments pushed the cumulative net asset value of its broad-based index over the previous record level set in October 2007. Source

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European Union Hedge Fund Negotiations

France Agrees to Hedge Fund European Union Regulations

Continuing with our coverage of European Union regulation of hedge funds, the EU countries have come to an agreement over how to regulate hedge funds and private equity firms. While negotiations had been stalled, France has finally agreed to new regulations that would let foreign hedge funds to use the passport system in the European Union.

The new regulations would allow foreign funds to market themselves across European investors through a passport system, as long as they submit to regulation by the European Securities and Markets Authority which is due to be established in Paris in January 2011.

The compromise comes after France, supported by Germany, went up against Britain and the U.K. over whether foreign private investment funds would have access to the passport system.

France wanted foreign funds to be kept out of the passport system, while Britain and the U.S. decried that stance as discriminatory.

The new regime will include registration, as well as greater reporting requirements.

European Commissioner Michel Barnier said at a press conference Tuesday, “The passport will have to be earned. There will be no discrimination, but there will be certain requirements.” Source

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Buy a Family Office Directory

When you buy a family office directory to use in your capital raising ventures, you must choose wisely. This requires you to make an educated decision that is based on research, an understanding of where your firm stands, and an understanding of what you are actually purchasing.

Here are the 3 top mistakes that companies make when buying a family office directory:

1.) Paying too much. This deals directly to the budget you set for yourself. Do not delude yourself or convince yourself that you have more to spend when in reality you do not. Be realistic and do your research. Evaluate companies and their products against one another to really weigh and measure the pros and cons associated with each directory versus its cost. Most quality directories will cost $800-$2,000 any less and it is probably outdated or incomplete and paying more is simply not needed.

Also in relation to cost, know the refund policy of the companies you research and list as potential providers of the directory you seek. Do they offer any sort of refund? This can be the best way to ensure your purchase is a smart one and to ensure the information you receive is up-to-date, valuable, and relevant.

2.) Buying a directory that is not backed by great service. Some companies offer a great family office directory, but end their service there. They do not offer anything of value to buyers, such as free reports, free updates to the directory their clients purchase, or free information on a blog. Moreover, most companies offering a directory do not offer a networking event for hedge funds, private equity firms, CTA funds, real estate investment trust, investment banks, institutional consultants, and third party marketers to connect and communicate with family office professionals.

3.) Buying a family offices directory that can only be accessed online. While this may be convenient in the beginning, this sort of access does not allow for you, as the buyer, to use the information therein to its full potential. Data available online can not easily be added to a CRM program or be shared between multiple team members if access is restricted to one user at a time.

Moreover, if the company decides they no longer want to offer the service, you are left without the product you paid for. Buying a family offices directory that comes to you as a hard copy, or even better, an electronic copy, allows you to share the information with others on your team to utilize their skills and use the directory to its full potential. You are also able to use the information until you find it is no longer useful, not when the provider feels it is no longer useful to offer.

Lastly, you do not have to pay to access the data, access that may be cut off at one point or another due to a subscription ending or data being moved. When you purchase a directory that is fully delivered, you do not have to worry about the information being taken away.

Choosing a family office directory can be an expensive investment that requires you to really give it some thought and serious consideration in regards to you and your company’s needs. Do you need a directory that you can access whenever you need to? A directory that you can have open on 2 computers at once, or a directory that you can take with you on the plane where you may not have Internet access? Weigh your options and know that most companies ought to be transparent in the way they market their directory, the support they offer, and their policies. If something is unclear, simply email the company or firm to see if they can answer your questions; it is better to be safe than sorry.

Want to learn more about raising capital from or working with family offices? Download our free e-book at http://FamilyOfficeReport.com

or checkout our Family Office Directory at http://FamilyOffices.com

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Women Run Hedge Fund

Questions on Hedge Fund Claiming to be 100% Run by Women

Pacific Alternative Asset Management Company claims to be a hedge fund firm controlled entirely by women. Now, it appears that S. Donald Sussman has been at least partly the man behind the hedge fund. According to the Times, Pacific Alternative Asset Management Company may have been disguising parts of the business from regulators and partners.

Amid the testosterone-fueled trading floors of Wall Street, Ms. Buchan has not only built a hugely successful hedge fund investment firm but also one that is, on paper, owned and run by women.

But questions have surfaced about whether her firm, Pacific Alternative Asset Management Company, is now — or ever was — controlled by women at all.

It turns out that S. Donald Sussman, a hedge fund mogul who has bankrolled some of the biggest (male) names in the business, has quietly stood behind Paamco for years, pocketing much of its profit. A recent court ruling officially put a chunk of Paamco’s parent company in his hands.

Equally troubling is the suggestion that Paamco, which collects tens of millions of dollars in fees annually to vet hedge funds for pension funds and other clients, disguised aspects of its own business from its customers, partners and federal regulators. Source

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Asian Hedge Funds Assets

Asian Hedge Funds Struggling to Raise Money Despite Boom

Asian hedge funds are struggling to raise money despite fundraising in the world's fastest growing region. Some Asian hedge funds are returning money to their investors as assets of Asian hedge funds have dropped 8% since the financial crisis.

Singapore-based Amoeba Capital Partners Pte, run by the former head of Asian investments at Morgan Stanley’s asset- management unit, is returning money to investors in its stock hedge fund, citing “tough” industry conditions. Michael Coleman, co-manager of the $1.3 billion Merchant Commodity Fund, in June shelved plans to raise money for an equity hedge fund.

“The Asian hedge-fund industry, overall, has yet to definitively prove to the global investor community that it has matured past the ability to deliver beta,” or investments whose returns tend to track the market, said Kirby Daley, a Hong Kong- based senior strategist with Newedge Group’s prime brokerage business. “This is seemingly constraining asset flows into the region past a certain point.”

Hedge-fund managers in the region are failing to cash in on the world’s fastest economic growth even as their stock-fund rivals are. Asia’s hedge funds saw $1.2 billion of outflows in the first seven months of the year, Eurekahedge Pte said in its September report. In contrast, the region attracted about $19.8 billion in net inflows into equity funds this year, Cambridge, Massachusetts-based EPFR Global said in an e-mail Oct. 12. Source

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14 Seats Left at Hedge Fund Marketing Workshop in New York City on November 1st, 2010

Full Day Hedge Fund Marketing Training Session

Our team is hosting an intensive full day hedge fund marketing workshop from 8:45AM-5PM on November 1st, 2010 at the midtown Harvard Club in New York City.

Limitation: As of 10.15.10 there are currently 14 seats left available for this event which will be sold on a first come first serve basis. To download a printable PDF brochure on this event click here.

Price: We were able to get a larger room for the event and have since cut the price of the event in half.

Benefits of Attending This Event:

Leave with detailed instructions on 4 hedge fund capital raising strategies that are proven to work and rarely employed
Find out what the top ten $10,000 hedge fund marketing mistakes are and how you can be sure to avoid each of them
Detailed instructions on how to position yourself or hedge fund principals as authorities within your asset class or investment strategy
Leave with clear practical methods of employing psychology of influence and persuasion techniques or “influence weapons” within your capital raising efforts
Get back to the basics and pick up new capital raising methods including strategies and concepts taken from experts such as Andrew Lo, Robert Cialdini, Wyatt Woodsmall, Brian Tracy, Eben Pagan, Joe Polish, Vern Harnish, and others
Steal our practical and proven processes, tips, and strategies applied directly to the process of growing relationships with investors and raising more capital for your hedge fund

Richard Wilson has directly helped raise over $200M and has advised over 200 hedge fund managers on raising capital. With a background in direct capital raising, as well as third party marketing Richard has now provided training to over 1,000 hedge fund professionals in Moscow, London, New York, Bermuda, Chicago, Sao Paulo, Brussels, and Miami.

Bonus Training Modules Just Added To This Event

Learn how to leverage persuasive writing techniques, models, and formats within your pitch book, newsletters, outgoing emails, and DDQs
Train your team faster by requesting up to 3 free copies of our 200 Hedge Fund Training Manual published by Wiley in 2010. This manual contains interviews with over 20 experts in capital raising and hedge fund marketing
Benefit from the advice of 5 marketers who have all raised $100M+ within our Hedge Fund Marketing Audio Expert Interview Series in MP3 Format ($500 Value). This resource will be mailed to each event attendee directly following the event

But What Are Others Saying About This Hedge Fund Marketing?

"Richard’s Hedge Fund Marketing Seminar in NYC was educational, current, and inspiring. We all benefitted from Richard’s breadth of knowledge surrounding the hedge fund marketing arena as his presentation delved into the granular level, while only providing valuable, relevant information. His stories and anecdotes were woven seamlessly into the presentation, serving as both motivational and informative tools."

- Justin Browe, Founding Partner Sage Lane Capital

"It was a pleasure meeting you today at the NYC Hedge Fund Marketing Mechanics Seminar, hosted by you/your firm. I thoroughly enjoyed your presentation and your hedge fund marketing ideas/insight. Again, thank you for hosting such an informative and thought-provoking event. I look forward to attending future events held by your firm."

- Mike Krumenacker, Director of Business Development & Investor Relations at Taum Sauk Capital Management

"Richard Wilson’s expert knowledge and current insights about the hedge fund universe provided an invaluable check list of the dos and don’ts in hedge fund marketing."

- Johanna Thornblad, Meridian Fund Managers

Typical Hedge Fund Marketing Costs:

Hedge Fund Marketer Compensation ($50K+)
Hedge Fund Investor Directories of Contact Details ($3,000)
Typical Hedge Fund Marketing Consultant ($300+ per hour)
Cost of This Event: $470 (7 Hours of Training by a Hedge Fund Marketing Consultant)
Cost of not raising capital: Lower profitability, laying off team members, or fund closure

You Will Benefit From This Event, Guaranteed. We only include practical proven marketing strategies and methods and we know you will get a ton of value out of attending this event. If you attend and don’t get at least $470 worth of value for any reason at all, we will give you 100% of your money back within 1 business day.

Learn more and register for this event: http://HedgeFundMarketingMechanics.com/Workshop.html

Man Group GLG Partners

Man Group Completes Acquisition of GLG Partners

Man Group announced that is has completed its acquisition of GLG Partners. Man Group, the largest public hedge fund now manages a total of $63 billion in AUM. Man Group bought the American hedge fund firm for $1.6 billion in order to diversify its investments.

In May, Man Group announced that it was buying GLG for $1.6 billion to diversify its range of investment funds. Man is paying GLG shareholders $4.50 a share in cash, a 55 percent premium to the company’s closing share price before the deal was announced.

Hailing the deal as a “milestone” for the firm, Man Group’s chief executive, Peter Clarke, said in statement Thursday: “We look forward to introducing GLG’s exceptional investment management capabilities to a broader global market, and intend to make a fast start as a fully integrated business to harness cost and revenue synergies.”

Man has been under pressure to add new products on concerns that its business had become overly reliant on its flagship AHL fund, which had a loss last year.

On Wednesday, Man Group’s shares rose 4.8 percent after it said its AHL fund was up 4.5 percent for the week and was within 2 percent of the threshold at which it could collect lucrative performance fees, Investment Week noted. Source

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Federal Reserve Hedge Funds

Federal Reserve Says Banks Eased Credit to Hedge Funds

The Federal Reserve said that banks are easing credit to hedge funds and private equity firms. In the three months ended in August, more banks said that credit had "eased somewhat" than "tightened somehwhat" as hedge funds and private equity firms increased demands for concessions when negotiating price terms for deals.

More banks said credit terms “eased somewhat” than said terms “tightened somewhat” in the three months ended in August, the Fed said today. Hedge funds and other investors tried harder to negotiate favorable price terms for deals, with 50 percent of dealers saying that clients “increased somewhat” or “increased considerably” their demands for concessions.

Increased competition from rivals and improvements in the financial strength of counterparties were the main reason that terms were loosened, according to the survey released by the Fed in Washington. Five of six respondents cited each factor as “very important” or “somewhat important” in their easing of terms.

The Fed started the survey in part because the financial crisis “highlighted that a significant volume of credit intermediation has moved outside of the traditional banking sector,” the central bank said in a report posted earlier this year on its website. Source

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EU Hedge Fund Talks

European Union Hedge Fund Rules Stall...Again

Just when it looked like France was ready to reconcile with the U.K. over hedge fund regulations, talks aimed at reaching a compromise again fell through. Last week, France announced that it was opposed to the condition of the directive that grants foreign funds access to all members of the European Union.

The European Union's proposed alternative investment regulations hang in the balance once again as talks to reach a compromise failed today.

European diplomats were unable to break the deadlock between the U.K. and France, which last week announced it opposition to granting foreign hedge funds access to all 27 EU countries, but later indicated a willingness to accept the so-called "passport" in exchange for other concessions.

Agreeing on those concessions now falls to Christine Lagarde and George Osborne, the French and British finance ministers. The two are expected to attempt to reach an accord in advance of next week's meeting of EU finance minister, where it is hoped a deal can be reached.

One of the non-starters in this week's negotiations were a plan that would allow EU countries to decline the passport agreement. Source

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St. Joe Company Short

Greenlight Capital Shorts St. Joe Company, Shares Plummet

The stock of St. Joe Company (JOE), a Florida-based real estate company, fell nearly 10% after a hedge fund titan said the firm was overvalued. Greenlight Capital manager David Einhorn commented that the company is "way, way overvalued," in explaining why he was shorting the stock.

Shares of St. Joe closed down nearly 10% after his comments, in which he said the company is "way, way overvalued." Einhorn, who runs hedge fund Greenlight Capital, is famous for his bearish stance on Lehman Bros. a few months before the investment banked collapsed, triggering the most severe troubles of the financial crisis.

Shares of St. Joe closed at $22.16, down 9.7%, in regular trading, and were down another 0.7% after hours.

Einhorn said the company is facing a number of challenges that will hurt its share price. Among his concerns: Lots are being sold below cost, there are a number of vacant sites in its portfolio of properties, and it has taken only minimal write-downs.

St. Joe said in a statement it "has a virtually debt-free balance sheet and owns approximately 577,000 acres of land concentrated primarily in northwest Florida, famous for its miles of sugar white sand beaches. These land holdings include over 400,000 acres within 15 miles of the Gulf of Mexico and approximately 300,000 acres within 40 miles of the new Northwest Florida Beaches International Airport. We continue to focus on the execution of our strategic plan in order to maximize the value of our assets." Source

Related to: Greenlight Capital

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