Tim Barakett

Tim Barakett

Tim Barakett Closes Two Funds | Bids Farewell

Atticus Capital is reducing its operations by closing two of its funds. After receiving less than 5% of redemptions from investors, Timothy Barakett, the founder of Atticus Global, decided to shut down Atticus Global, Ltd. and Atticus Global, LP. Barakett founded Atticus with $6 million and expanding to roughly $20 billion in assets under management in 2007. He is returning $3 billion back to his investors, in a letter to his investors he explained his decision:

I have used the market’s recent strength to begin liquidating a significant amount of our holdings. We currently expect that the portfolio will be fully liquidated by September 30th and that we will be in a position to return approximately 95% of your capital in early October. The balance of investor capital will be returned after the final audit is completed, which should be later this year.

My decision is solely a personal one. After fifteen years of being singularly focused on building and managing Atticus, I believe it is time to reassess my future. I intend to spend more time with my family, pursue my philanthropic interests and establish a family office to manage my own capital and charitable foundation.

While the Atticus management company will continue and its European fund will not be closed, Barakett will leave the management role to partner David Slager. Mr. Barakett plans to spend more time focused on family, philanthropic interests and managing his capital through a family office. Atticus Global's net returns to 2009 are shown here:

Atticus Global S&P 500
1 year -13.3% -20.0%
3 year 0.8% -6.2%
5 year 9.3% -0.1%
10 year 13.6% -1.2%
Inception 19.3% 3.9%
Cumulative 835.3% 62.3%

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Family Office Challenges

Family Office Challenges

Challenges to Family Offices Today

Like other wealth managers, family offices are facing many challenges in the recession. While some family offices run their own hedge funds or private equity funds, the strength of the family office industry effects the assets under management for the hedge fund industry as a whole. A prominent family offices attorney says that creative thinking and improved efficiency will help family offices overcome the hurdles they face in today's economy. Anthony Markham, a partner at at law firm Maitland's Isle of Man office explains, "One of the most important things family offices must do is think creatively."
Markham has gone back to the island following a decade in London and will be spearheading the family office service following an increased demand from wealthy families. He explained some of the unique challenges currently facing family offices. "Family offices are doing a very difficult trick, they are trying to anticipate the needs of their families while also trying to keep abreast with the challenging environment with lots of difficult changes," Markham said.

He also points to a lack of cash as a particular difficulty during the economic crisis. "Family offices have either seen their investment portfolios marked down with everybody else's or they have seen their family businesses becoming cash hungry when usually they are cash generative. In that environment they are becoming very cost sensitive and doing things more efficiently. It tends to be more what do we need to do as opposed what would it be nice to do," Markham explained.
Source
Markham emphasizes that the main thing family offices need to do is to react creatively to attain what they need without adding up recurring costs.

To read more about family offices and hedge funds, see Multi-Family Offices & Hedge Funds

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Tags: Family Office Challenges, Family Office Attorneys, Family Office Lawyer, Family Office Management, Family Office Recession, Family office Assets, Family Office Economy
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Investment Marketing & Capital Raising Resources List

Investment Fund Marketing Resources

If you are looking for investment fund marketing tools, resources, articles, how-to advice or videos please refer to ThirdPartyMarketing.com. This website is ran within the H Media Group web resource network and focuses exclusively on the practices and trends surrounding the investment marketing industry. Below plesase

  1. 5 Unique Fund Marketing Tactics (1 of 5)
  2. 5 Unique Fund Marketing Tactics (2 of 5)
  3. 5 Unique Fund Marketing Tactics (3 of 5)
  4. Hedge Fund Marketing Tools
  5. Hedge Fund Disclosures
  6. Hedge Fund Pitch Book & Marketing Materials
  7. Email Newsletter Tool
  8. Sales Training Motivation
  9. Family Office Database
  10. Independent Directors
  11. Third Party Marketing Agreements
  12. Hedge Fund Marketing Plans
  13. Hedge Fund Marketing in Switzerland
  14. Marketing Alternative Investments
  15. Raising Capital From Family Offices
  16. Hedge Fund Marketing License Requirements
  17. Hedge Fund Marketing Plan
  18. Hedge Fund Seed Capital
  19. Investment Marketing Hurdles
  20. Can Hedge Funds Speak to the Press?
  21. Fund Startup Marketing
  22. Book on Investing
  23. Investment Public Relations Strategies
  24. Hedge Fund Capital Raises More Difficult
  25. Family Office Directory
  26. Capital Raising & Seed Capital Help
  27. Third Party Marketer Definition
  28. Why Use a Third Party Marketing Firm?
  29. 3PM Industry
  30. Third Party Marketing Q & A
  31. Hedge Fund Investor Survey
  32. Investment Fund Marketing Statistics
  33. Ban on Third Party Marketers
  34. Hedge Fund Incubation Services
  35. Databases & Directories of Investors
  36. Third Party Marketing Careers
  37. International Hedge Fund Marketing & Sales
More Resources
  1. Hedge Fund Business Plan
  2. Public Relations Strategies
  3. Third Party Marketing Internship
  4. Investment Marketing
  5. Financial Advisor Marketing
  6. Hedge Fund Jobs & Interviews
  7. What is a family office?
  8. Hedge Funds
  9. Pain Free Hedge Fund Marketing
  10. Marketing Funds in 2009
  11. Family Office Investors
  12. Financial Public Relations
  13. Third Party Marketing & Placement Agents
  14. Third Party Marketing Job
  15. Hedge Fund Public Relations
  16. Certified Hedge Fund Professional (CHP) Designation
  17. Hedge Fund Marketing Licenses

Tags: third party marketing, investment marketing, marketing investment funds, investment wholesaling roles, investment marketing careers, raising capital for investment funds
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Och Ziff Hedge Fund

Och Ziff Hedge Fund

Och Ziff's Compensation Leads to Losses

The hedge fund industry, along with other investment areas, has received a fair amount of criticism over compensation. With the recession hurting returns and investors withdrawing from funds, paying the high compensation that hedge fund professionals are used to has become an enormous cost for many hedge funds simply trying to stay afloat.

A cautionary tale is that of Och-Ziff Capital Management which has drawn a lot of criticism after reporting a second quarter loss this week primarily because of its salaries and bonuses. The $20.7 billion hedge fund firm has to pay $47.6 million in total compensation to its staff at the end of this year. Despite the rough year for hedge funds, bonuses are nearly 75% more than the same time last year.

Och-Ziff's assets under management have grown 2% since April 1, 2009 and performance has improved in all four main hedge funds but the firm's management fees have fallen an incredible 42% from last year. One can assume that a draw for investors has been the reduction in fees along with better performance, so the rise in AUM is likely at a loss for the firm because of the income its had to forego. Despite some hedge funds decision to reduce fees to entice investors, most of the industry has stayed firm against drastically cutting fees.

Interestingly, a study by Grahall Partners found that the majority of hedge funds do not have a formal compensation policy. This means that how employees are paid is typically up to the General Partner and with many hedge funds still below their high water mark, hedge fund employees are seeing cuts in their compensation. This is a problem for cost-cutting hedge funds looking to hire or retain top talent because other financial firms or hedge funds may take advantage to recruit would-be hedge fund traders.

With hedge funds refusing to offer competitive compensation plans until revenues stabilize Claude Schwab of Heidrick & Struggles sees a trend, “There is a large amount of movement of senior investment professionals to different places, people who are at the top of their game. Some of the best talent will be moving before year’s end and this indicates that people at the top of the hedge fund are not dipping into their own pockets."

Tom Roth, a consultant at Grahall, says there is no “boilerplate” approach to hedge fund pay given the myriad of asset sizes and strategies that characterize hedge funds. One Grahall client that oversees about $1 billion in AUM is considering launching a private-equity fund. “The question they are asking is how do I pay the private-equity guys vis-à-vis the hedge fund guys? They need to work closely together, but the time frames for how private-equity professionals are paid tend to be much longer than they are for hedge funds,” Roth says.

Another client is 100% owned by the founder who is now considering extending LP to a key portfolio manager. “The question is, how does the founder bring him into the partnership?,” Roth says. The manager has been with the hedge fund since its inception and currently earns salary and a discretionary bonus. Roth says he may end up with some equity stake in the hedge fund. “Sometimes firms give that equity stake and sometimes they create an opportunity for individuals to purchase shares in the firm. There’s no right or wrong answer for how to do this,” he says. “It depends on the particular circumstances of the firm.” Whole story

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Tags: Hedge fund pay, hedge fund compensation, hedge fund salary, hedge fund bonus, hedge fund average salary, och-ziff hedge fund, hedge fund money, hedge fund bonus payout, hedge fund income
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Long Only Hedge Funds

Long Only Hedge Funds

Long Only Hedge Fund Strategies Leads Returns

In yesterday's article, we saw the impressive returns hedge funds have generated in recent months. Average hedge fund returns are up by 12.17% for this year through July 31 and this recovery has been largely led by long only hedge fund strategies. According to Reuters, long only hedge funds posted a 4.75% return in July adding to the 14.34% gains year-to-date.

The information released ahead of Lipper's monthly Hedge Fund Insight Report, which is due at the end of August, showed that all hedge fund strategies posted a positive performance last month, with long/short equity and multi strategies both giving returns of 0.81 percent.

Short bias strategies made a 0.40 percent return, boosted by profitable short sale strategies in the first half of the month, Lipper data showed.

Global stock markets gained 8.5 percent in July, according to the MSCI World TR Index. They continued their rally from March lows, fuelled by hopes that the worst of the financial crisis has passed.

However, stock markets remained very sensitive to macroeconomic factors, said Gentilini.

"The market is already looking for the next macro catalyst to drive market direction; there are a still a number of risks of market correction," he said.

Among the other hedge fund strategies, options arbitrage performed strongly in July, with returns of 0.88 percent. Event-driven was the worst-performer, posting a 0.19 percent return. Source


Read about other hedge fund strategies at our Hedge Fund Strategies Guide.

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Tags: Long only hedge funds, long only hedge fund strategies, long only hedge fund returns, long only strategy, long short hedge funds, long short hedge fund returns, hedge fund strategies
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HedgeCast Tool

HedgeCast Tool

Sample of Hedge Fund Premium's HedgeCast

It can be exhausting following the news every day to keep up with the fast-paced hedge fund industry, especially if you work 50+ hours a week like many hedge fund professionals. Our solution to this problem is the HedgeCast.

The HedgeCast is one of our fourteen exclusive tools available to Hedge Fund Premium members. Members can watch a weekly video wrap-up of the news and learn everything they need to know for the week's hedge fund news. Our HedgeCast summarizes the news in a concise video that saves busy professionals the time and effort spent tracking hundreds of stories. Here is an example of our HedgeCast video available exclusively through Hedge Fund Premium (e-mail subscribers can watch the video here):



If you would like to view all of our fourteen Hedge Fund Premium tools and resources visit Hedge Fund Premium. As a special promotion, we have created a coupon which provides you with access to Hedge Fund Premium for $1 over the first month, this coupon will automatically expire after it is used by 1,000 registering members. After the first month membership costs just $27/month, that price is locked in for as long as you remain a member. The coupon is 1F7, and all you have to do is enter it in the sign-up form and start enjoying the benefits of Hedge Fund Premium.

Want to learn more about Hedge Fund Premium? Simply visit our site and read all of the benefits that members receive including discounts on hedge fund products, exclusive access to hedge fund networking events, guides to a hedge fund career, fund marketing advice and much more.

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Green Fund of Hedge Funds

Green Fund of Hedge Funds

Fund of Hedge Funds Follows Green Movement

Bookbinder Capital Management LLC is following the green environmental movement with its new fund of hedge funds. Bookbinder launched the new fund, TerraVerde Capital Partners LLC, to generate returns from the changes in green investing and the alternative energies area. True to its name, TerraVerde will place assets with about a dozen "green" hedge funds--any fund investing in something that will "reduce the carbon footprint. Richard Bookbinder, the manager at the firm, has found at least 100 funds that meet his requirements although they may not explicetly market themselves as green.

The fund has a $1 million minimum-investment requirement and charges a 1% management fee, plus a 10% performance fee. While Mr. Bookbinder expects the fund to appeal to investors with a passion for saving the planet, he said his main objective is to generate positive returns.

“I don't wear Birkenstocks, I didn't go to Woodstock, and I don't drive a Prius,” he said. “But as we look at the green space, we see tremendous opportunities.” But even with a pragmatic approach to the green movement, Mr. Bookbinder isn't completely immune to the tree hugger movement.

“There's a real problem out there, and as the global economy starts to recover, there will be an increase in greenhouse gas emissions,” he said. “Climate change is a real game changer.” Mr. Bookbinder also supports the controversial cap-and-trade legislation that is designed to limit carbon emissions through taxation.

“We think that's a positive for us because it calls into question what is going on on this planet,” he said. “That's what our strategy is all about.”

Read whole column

Read more about Green Hedge Funds here.

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Hedge Funds Gain

Hedge Funds Gain

Hedge Funds Gain 2.42% in July 2009

Hedge funds have continued this years impressive rally with more gains in July. According to data, the average hedge fund gained 2.42% last month, a much higher gain that the 0.13% increase in June. This signals a broader recovery of the hedge fund industry which struggled with redemptions and poor performance last year. On average hedge funds are up by 12.17% for this year through July 31.

"Overall, the hedge fund industry is continuing to build itself back up from the low points," said Scott Esser, chief operations officer for the Hedge Fund Research in Chicago. Strong "equity market returns had a lot to do with it and the return of credit and decrease of volatility has helped," he added.

The returns still fell short of the Standard & Poor's 7.4 percent rise in July. Last month, the Dow industrials had their best July since 1989 and the S&P 500 and Nasdaq recorded their best gains for July since 1997.

Still, the figures marked the fifth consecutive month of gains for the hedge fund industry, which posted a record 19 percent loss in 2008. The industry saw investors pull out a record $152 billion in the last three months of 2008.

This year, July returns were driven by strong performances at fixed-income funds that specialize in "convertible arbitrage" strategies that match the purchase of convertible bonds with short positions. The these funds were up 7.27 percent in July on average and up 38.63 for the year. Read more..


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Tags: Hedge Fund gains, hedge funds gain, hedge fund returns, average hedge fund, hedge fund index, hedge fund research, hedge fund news, hedge funds 2009
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Hedge Fund Premium

Hedge Fund Premium

Hedge Fund Premium Launches Today

Today on August 10th, 2009 at 2PM EST Hedge Fund Premium opens for registration. We are excited to offer this membership website to hedge fund professionals and those who are preparing to enter the industry.


Hedge Fund Premium members enjoy a variety of tools and resources created specifically for the hedge fund industry, including capital raising tools, complimentary networking events, exclusive hedge fund videos, career advice and much more. Our first Hedge Fund Premium networking event is in Chicago on September 3rd, 2009. Our scheduled upcoming events will be in Moscow, Boston, New York City, Dallas, San Francisco, Portland, San Diego and Sao Paulo, Brazil.

Our team has created a coupon which will provide you access to Hedge Fund Premium for $1 over the first month, this coupon will automatically expire after it is used by 1,000 registering members. After the first month membership costs just $27/month, that price is locked in for as long as you remain a member. The coupon is 1F7, enter it in this Hedge Fund Premium sign-up page.

Top Four Benefits of Hedge Fund Premium
  1. Become more connected through our exclusive educational networking events (free with membership)
  2. Stop losing time reading boring articles and press releases, watch our short weekly video HedgeCast to get all of the most vital hedge fund news each week
  3. Raise more capital with our Capital Raiser Pro, Marketing Materializer, and AUM Blueprint tools to raise capital and improve your hedge fund marketing strategies
  4. Improve your career through our Career Workbook, Career Toolbox and Salary Calculator
We will be frequently updating Hedge Fund Premium with more exclusive tools and resources to provide members with consistent values. To see all our fourteen premium tools visit Hedge Fund Premium.

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Recorded Phone Call, Workbook & Video

Recorded Call, Workbook & Video


Today we are recording a phone call for Hedge Fund Premium with a leading hedge fund auditor in Chicago, we will be discussing hedge fund industry auditing requirements, trends, costs, and the overall process of having your fund returns audited. This will be available in MP3 format on our website starting Monday.

Theo on our team is working on improving our Career Workbook which will be available on the website starting Monday and I am recording a new video capital raising strategies.

On Monday we will open HedgeFundPremium.com and the first 1,000 professionals to join will gain access to our resources for just $1 with ongoing membership at the regular $27/month. In exchange for this membership we provide networking events and 13 additional premium hedge fund tools including a weekly video HedgeCast, Video Book Reviews, Capital Raiser Pro Videos, a Career Workbook, and the Marketing Materializer Tool.

Learn more at www.HedgeFundPremium.com.

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Tags: Hedge Fund Webinar, Hedge Fund Conference Call, Hedge Fund, hedge Funds, Hedge Fund Premium, Hedge Fund Career Workbook, AUM Blueprint, Hedge Fund Video COntent
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Top 5 Hedge Fund Website Rankings

Top 5 Hedge Fund Website Rankings

Based on the Alexa Traffic Ranking Tool here are the top 5 Hedge Fund Website Rankings:
  1. HedgeFundBlogger.com, Alexa: 122,000
  2. HedgeCo.net, Alexa: 140,000
  3. Albourne Village: 240,000
  4. HedgeWorld: 455,000
  5. HedgeFund.net: 539,000
One way to judge popularity of a website is through it's Alexa Traffic Ranking, the smaller the ranking the more traffic the website gets. Websites like Amazon.com and Google have rankings of #7 and #1 while typical blogs rank anywhere from #50,000 to #900,000.

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Tags: Hedge Fund, Hedge Funds, Hedge fund INdustry, alternative investments, private equity, hedge fund websites, top hedge fund websites, most popular website on hedge funds
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Australian Hedge Funds Perform Well

Australian Hedge Funds

Below is a short video on hedge fund performance in Australia, this is being added to our geographical guide to hedge funds in Australia. This video talks about which strategies in Australia have been doing well and it also helps define 130 / 30. If you are viewing this through our daily email hedge fund newsletter please click here to watch the embedded video below.



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Tags: Australian hedge fund performance, top Australian hedge fund strategies, Australia, hedge fund, hedge funds, alternative investments
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Flash Trade Ban by SEC

Flash Trade Ban by SEC

Flash Trade to be Banned By the SEC

The controversial "flash trade" will be banned by the SEC, according to its chair Mary Shapiro. A flash trade has been criticized for giving an advantage to some brokerages over other traders. Some traders are given advance information about an order before it is relayed to the market. The proposed ban has received support from Nasdaq and Bats and NY Senator Charles Schumer has led the charge to outlaw flash trading. This move may signal a larger push against "high frequency" trading which some have estimated accounts for 70% of trading volume, although flash trades make up a relatively small portion of high frequency trades.

A ban would reverse decisions since at least 2004, when the SEC first approved the systems at the Boston Options Exchange. Nasdaq OMX Group Inc., Bats Global Markets, Direct Edge Holdings LLC and the CBOE Stock Exchange give information to their clients about orders for a fraction of a second before the trades are routed to rival platforms. The technique is meant to give investors another opportunity to complete a transaction.

NYSE Euronext, the world’s largest owner of stock exchanges, as well as brokerages Morgan Stanley and Getco LLC have said the practice may result in investors getting worse prices.

Schapiro said any proposal to ban the transactions would require approval from SEC commissioners and public comment. SEC rulemaking is usually a two-step process. The agency’s staff proposes a regulation, and commissioners vote to solicit public feedback for between 30 and 90 days. Once the comment period ends, commissioners vote on whether to make the rule binding. The SEC can speed up the process by issuing temporary rules. Read More..


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Hedge Fund Capital Raising & Career Tools

Fund Capital Raising & Career Tools


While we expect most professionals will join HedgeFundPremium.com for the free-to-attend networking events that come with membership, there are 14 distinct tools made available to all members. Right now our team is finishing up the structuring of the Capital Raiser Pro, Mandate Hunter, Career Toolbox and HedgeCast tools today.

Top Four Benefits of Hedge Fund Premium

  1. Become more connected through our exclusive educational networking events (free with membership)
  2. Stop losing time reading boring articles and press releases, watch our short weekly video HedgeCast to get all of the most vital hedge fund news each week
  3. Utilize our Capital Raiser Pro, Marketing Materializer, and AUM Blueprint tools to raise capital and improve your hedge fund marketing strategies
  4. Improve your career through our Career Workbook, Career Toolbox and Salary Calculator
Learn more at http://HedgeFundPremium.com

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Tags: hedge fund, hedge funds, Hedge Fund Capital Raiser Pro, hedge fund career toolbox, hedge fund mandates, mandates for hedge fund managers
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13F Analysis of Black River Asset Management

Black River Asset Management

Below please find a 13F analysis report for Caxton Associates for Q1 2009. 13F analyses are reports that fund managers with over $100M are required to submit to the SEC, they are publicly available and these reports provide us with some insights on what some hedge fund managers have been investing in.

Black River Asset Management is a wholly owned subsidiary of Cargill, Incorporated. The hedge fund is global with 13 locations worldwide and deploys a wide range of investment strategies. The firm’s’ CEO and Managing Principle is Gary Jarrett.

• (BHI)Baker Hughes
• (BJS) BJ services
• (BP) BP plc
• (CCL) Carnival Corp
• (CHK) Cheasapeake Energy
• (CML)Compellant Technologies
• (HOS) Hornbeck Offshore Services
• (MLM) Martin Marietta Materials
• (OII) Oceaneering International
• (PXP)Plains Exploration & Production
• (RIG)Transocean Inc
• (SAFM) Sanderson Farms
• (SII) Smith International
• (SUG) Southern Union Co
• (TSN) Tyson Foods


Using the TickerSpy portfolio analysis tool the graph to the left was created showing the approximate equity performance for Black River Asset Management over the previous six months. According to this analysis Black River Asset Management equity picks have been outperforming against the S & P 500 recently





The top 5 highest performing equities which for Black River Asset Management held as of this 13F filing include (BHI), (CML), (PXP), (HOS), (BJS) and (TSN).


According to AlpaClone data on for Black River Asset Management34% of their equity portfolio is invested within the Energy sector. The total equity value of for Black River Asset Management is 300M+, their total number of reported holdings is 539, and over 40% of the market value of this portfolio is represented within the top 10 holdings.


For more information on for Black River Asset Management please see the HedgeFundBlogger.com Hedge Fund Tracker Profile on for Black River Asset Management by clicking here.

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Tags:13f analysis ,Holdings analysis,13f Black River Asset management,Black River Asset Management,alternative investments
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