Financial graph

Large hedge funds have performed better than small funds in down years, says PerTrac

The average large hedge fund outperformed the average small fund in the negative performance years of 2008 and 2011, according to a study from PerTrac. »


Fiona Le Poidevin, chief executive of Guernsey Finance

FATCA approach provides certainty, says Guernsey Finance

Guernsey Finance has welcomed the announcement from the island’s government that it is seeking to negotiate a partnership agreement with the US to implement the Foreign Account Tax Compliance Act (FATCA). »


Don Steinbrugge, managing partner of Agecroft Partners

Agecroft to add new hedge fund to platform in Q4

Agecroft Partners, the hedge fund consulting and third party marketing firm, plans to add an additional hedge fund manager to the platform of hedge funds it represents during the fourth quarter. »


David Harding, Winton

Winton sees profits jump 23 per cent

Profits at Winton Capital Management, the UK-based hedge fund founded by trader David Harding, jumped 23 per cent last year to GBP162m, according to the firm’s accounts for 2011. »


Trading screens

Hedge funds cut trading desk budgets, says Greenwich Associates

Hedge funds appear to be moving aggressively to take down costs associated with their trading desks in the midst of a prolonged period of depressed trading activity, according to the results of a study by Greenwich Associates. »


Isle of Man

Isle of Man appoints director of financial services

The Isle of Man’s Department of Economic Development has appointed John Spellman as director of financial services with immediate effect. »


Index

Lyxor Hedge Fund Index up 0.2 per cent in September

The Lyxor Hedge Fund Index gained 0.2 per cent in September (+2.2 per cent in 2012), with 11 Lyxor Strategy Indices out of 14 ending the month in positive territory. »


Chris Ford, EMEA head of investment at Towers Watson

Willis Pension Scheme chooses Towers Watson for hedge funds

The trustees of the GBP1.5bn Willis Pension Scheme have chosen Towers Watson to manage a large portion of its hedge fund portfolio on a fiduciary basis, following a competitive tender. »


Fraud

SEC charges Chicago-based investment adviser and owners with fraud

The Securities and Exchange Commission has charged Chicago-based GEI Financial Services and its owners, Norman Goldstein and Laurie Gatherum, for defrauding their advisory clients — including the GEI Health Care Fund 2001 — by taking at least USD147,000 in excessive fees and capital withdrawals from the fund since 2009. »


Gavel and scales

CFTC files record number of enforcement cases in 2012

The Commodity Futures Trading Commission filed 102 enforcement cases in fiscal year 2012, the highest number of cases ever in a single year. »


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