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STRATEGY/ANALYSIS

Investors swap grains for metals as flows trickle to commodities
By Reuters
07/22/2014 12:59:42 PM ET

LONDON (Reuters)—Investors are slowly being drawn back into commodities, attracted by stronger global economic growth and more volatility within sub-sectors, typified by current investment flows out of grains into industrial metals. The sector has been shunned in recent years, knocked by poor returns during the financial crisis which saw commodities move in step with other assets.
Foreign hedge funds could lose as Europe tightens rules
By Reuters
07/22/2014 11:35:18 AM ET

LONDON (Reuters)—Europe's move to tighten regulation of the hedge fund industry could give home-grown funds an edge over foreign rivals, many of which are still trying to absorb the new rules on attracting investor cash. The rules, known as the Alternative Investment Fund Managers Directive (AiFMD), were launched a year ago to create a single market for hedge funds and help protect investors by requiring funds to be more transparent and improve their risk management.
Hedge funds slash higher Brent oil bets 25 percent in price rout: ICE
By Reuters
07/21/2014 3:49:47 PM ET

LONDON (Reuters)—Hedge funds and other large speculators slashed their bets on higher Brent crude oil prices by almost 25 percent in the week to July 15, ICE said on Monday [July 21], as prices collapsed to their lowest in three months. The IntercontinentalExchange Inc.
Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM
By Reuters
07/18/2014 5:53:10 PM ET

NEW YORK (Reuters)—Daniel Loeb, head of hedge fund firm Third Point LLC, said in his quarterly investor letter dated Friday [July 18] that he expects market volatility to continue and that he is optimistic on Argentina. Loeb, an activist investor, said Argentina is likely to reach an agreement with its holdout creditors by year-end and that his $14 billion firm has taken a stake in Argentine oil company YPF SA, in addition to stakes in Mexican REIT Fibra Uno and in Dutch life sciences company Royal DSM.
Old-school traders of physical oil teach hedge funds a lesson
By Reuters
07/18/2014 5:21:05 PM ET

LONDON (Reuters)—A near 10 percent drop in international oil prices since last month has taught a painful lesson to many hedge funds and other speculators in energy futures: you can ignore physical markets for only so long. Hedge funds piled into what seemed a one-way bet in early June, grabbing up oil contracts as the rapid advance of Islamist insurgents in northern Iraq threatened supplies from OPEC's second-largest producer at the same time that peak summer demand was approaching.
Morgan Stanley rebuilds in commodities trading
By Reuters
07/18/2014 4:28:32 PM ET

NEW YORK (Reuters)—After more than a year of scaling back in commodities, Morgan Stanley is ready to expand. The Wall Street bank plans to hire about a dozen traders, sales staff and other professionals in the United States.
Hedge fund manager Cooperman says market gains will slow
By Reuters
07/16/2014 2:59:44 PM ET

NEW YORK (Reuters)—Hedge fund manager Leon Cooperman, who has forecast that the Standard & Poor's 500 stock index will hit 2000 this year, cautioned on Wednesday [July 16] that gains will be slower as the market is more fairly valued now. "The markets finally found a fair level," Cooperman, who runs the $10.
Dark pool probe builds pressure on Barclays boss
By Reuters
07/14/2014 1:04:59 PM ET

LONDON (Reuters)—Barclays boss Antony Jenkins faces one of the biggest tests of his leadership this month when he decides whether the bank, Britain's third largest, should fight accusations it deceived and defrauded customers in the United States. If Jenkins accepts the allegations, made in a lawsuit> filed by New York's Attorney General, he will face a dilemma arising from his pledge to jettison any business that does not fit into the bank's new, squeaky-clean image.
Rengan Rajaratnam acquittal shows indirect insider trading case challenge
By Reuters
07/11/2014 9:26:17 AM ET

NEW YORK (Reuters)—The acquittal on Tuesday [July 8] of the younger brother of convicted hedge fund titan Raj Rajaratnam suggests prosecutors will have a tougher time pursuing people accused of trading on inside information they received indirectly. Roughly a third of the insider trader defendants charged by Manhattan U.
Rallies in energy, metals boost commodity funds in Q2: Lipper
By Reuters
07/10/2014 11:27:59 AM ET

LONDON (Reuters)—Commodity funds delivered robust returns in the second quarter, consolidating their recovery since the start of the year, with rallies in energy and metals boosting the top performers in the Lipper Global Commodity group. Leading commodity fund managers say base metals should continue to perform well in the second half of 2014, with investor sentiment towards China improving, but the upside for oil is seen as more limited.
Some prominent hedge funds hurt by tech are back with gains
By Reuters
07/07/2014 1:02:58 PM ET

BOSTON (Reuters)—For some hedge funds hurt by tumbling technology stocks earlier this year, tenacity has been a virtue. Andor Capital and Tiger Global Management, two of the industry's most closely watched investment firms, delivered good news to clients as they finalized first-half returns.
Ackman's Pershing Square surges 25 percent in first half
By Reuters
07/03/2014 4:55:50 PM ET

BOSTON (Reuters)—Activist investor William Ackman's main fund climbed 25 percent during the first half of 2014, ranking the billionaire as one of this year's top hedge fund industry performers. Ackman told clients of his Pershing Square Capital Management hedge fund that its main portfolio rose 2.
Who's hunting yield in bond market's risky regions?
By Reuters
07/03/2014 4:50:30 PM ET

LONDON (Reuters)—The hunt for yield in an era of diminishing interest rates has lured investors into ever riskier regions of the bond market, prompting some to ask: who is buying this stuff and are they suffering short-term memory loss? In June, euro zone member Cyprus returned to the market just a year after international lenders bailed it out and the government forced bank depositors to forfeit uninsured savings. Ecuador, which defaulted in 2008 and in 2000, raised $2 billion with a bond, and Kenya, troubled by attacks by Somalia-linked Islamist militants, had investors offer it more than four times the $2 billion it borrowed via a debut Eurobond.
Paulson's Credit Opportunities fund up 6.6 percent through end-May: source
By Reuters
06/30/2014 5:01:22 PM ET

NEW YORK (Reuters)—Hedge fund manager John Paulson's credit opportunities and merger arbitrage funds were up 6.6 percent and 3.3 percent year-to-date through the end of May, respectively, easily surpassing their benchmarks, according to an investor in attendance at Paulson & Co.
Blackstone's new hedge fund involves independent companies: report
By Reuters
06/30/2014 12:37:38 PM ET

NEW YORK (Reuters)—A direct investing initiative that Blackstone Group LP is working on in its hedge funds group involves independent management companies, The Wall Street Journal reported on its website on Sunday [June 29], citing people familiar with the plans. Blackstone, best known for its private equity and real estate deals, already manages $58.
Ex-SAC officer plans Leucadia-backed hedge fund firm: report
By Reuters
06/30/2014 12:21:27 PM ET

NEW YORK (Reuters)—A former top executive of SAC Capital Advisors is planning to launch a stock trading hedge fund firm with much of the start-up capital to come from Leucadia National Corp., according to The Wall Street Journal.
Toronto manager Stephenson plans to launch C$40 million hedge fund
By Reuters
06/25/2014 2:44:08 PM ET

TORONTO (Reuters)—John Stephenson, a prominent Toronto-based money manager, said on Wednesday [June 25] he plans to launch his own hedge fund, a vehicle he thinks will be best-placed to take advantage of potential volatility in stock markets trading near record highs. A former executive at First Asset Investment Management, Stephenson expects his first product to be a C$40 million ($36.
Commodity hedge funds out of favor, launches head for 8-year low
By Reuters
06/24/2014 1:54:34 PM ET

NEW YORK (Reuters) - Commodity fund launches have slowed dramatically, heading for an eight-year low, data from industry tracker Preqin showed, after years of weak returns and some high-profile fund failures in the commodities sector. In the year through May, some 34 commodity funds were launched, the fewest since the first half of 2006.
Stock investors seek new hedges in unnatural market calm
By Reuters
06/20/2014 12:46:35 PM ET

LONDON (Reuters)—Investors are seeking new defenses against possible falls in European stocks as indexes plateau near multi-year highs and traditional hedges prove ineffective in a market anaesthetized by near-zero interest rates. These alternative tools range from option strategies aimed at minimizing the cost of holding a hedge to investing in funds which aim to generate some returns irrespective of the stock market's direction, such as arbitrage hedge funds.
With markets at crossroads, investors eye 'special situation' funds
By Reuters
06/20/2014 12:35:52 PM ET

MONACO (Reuters)—Hedge fund managers who seek out quick returns from company turnarounds and short-term bets on specific assets are in fashion as investors ponder their next move after long rallies in stocks and bonds. Diverging central bank monetary policy, a rise in corporate deal-making and the potential for more market volatility have increased the appeal of nimble funds that can still make money in choppier, falling markets, said delegates at a hedge fund industry gathering this week.






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