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Wells Fargo & Company has launched the Wells Fargo Hedge Fund Manager Holdings Index. The Index measures the real-time performance of the 100 largest positions in equities and equity-related securities as reported quarterly to the Securities and Exchange Commission (SEC) by hedge funds or managed accounts.
The Index represents modified market capitalisation weighted to provide diversified exposure in the market. The securities are required to be listed on the NYSE or NASDAQ and to satisfy specific market capitalisation and other eligibility requirements.
"Aggregating hedge fund holdings and illustrating the performance through an index will bring greater transparency to the sector,"
The white paper ‘Pensions in Europe’ looks at what multinational companies see as the major issues facing them today with their pensions in Europe, examines what the companies are doing now and what they intend to do in the future.
What is in the white paper ‘Pensions in Europe’?

The latest AEGON Global Pensions white paper Pensions in Europe confirms three dominant trends in how multinational companies are managing their pensions today – a drive to improve and centralise pension governance, a strong shift to Defined Contribution pensions, and the move to de-risk Defined Benefit pensions.
The white paper also
The Securities and Exchange Commission (SEC) has charged a longtime Bernie Madoff employee with fraud for his role in creating fake trades to facilitate the massive Ponzi scheme.
The SEC alleges that David Kugel, who worked at Bernard L Madoff Investment Securities LLC (BMIS) for nearly four decades, was asked by Madoff to provide the firm’s investment advisory operations with backdated arbitrage trade information to be formulated into fictitious trading on investors’ account statements. Kugel’s own account at BMIS was among those in which backdated trades were entered, and he withdrew nearly USD10 million in “profits” from the fictitious trading
HSBC Global Asset Management gave a dim sum lunch presentation in London on Monday 21 November, during which the firm gave a positive review of the Chinese offshore RMB bond market and outlined the macro reasons for investing there.
Three key members of the team were in attendance, namely: Joanna Munro (pictured), Chief Executive, Asia Pacific HSBC Global Asset Management; Philip Poole, Global Head of Macro & Investment Strategy, and Geoff Lunt, Investment Director, Asian Fixed Income.
The overriding message that came out of the presentation was the huge potential that RMB bonds offer to investors, not just because of
The Securities and Exchange Commission has filed a civil injunctive action against Patrick G Rooney, a resident of Oakbrook, Illinois, and his company, Solaris Management, LLC, the investment adviser to the Solaris Opportunity Fund, LP, for the fraudulent misuse of the fund’s assets and other illegal conduct.
According to the SEC’s complaint, the Solaris Fund is purportedly a non-directional hedge fund with approximately 30 investors and reported assets of USD16,277,780 as of December 2008. Contrary to the Solaris Fund’s offering documents and marketing materials, Rooney and Solaris Management allegedly made a radical change in the Solaris Fund’s investment strategy by
The Financial Services Authority (FSA) has fined Dr Sandradee Joseph GBP14,000 and banned her from performing any significant influence function in regulated financial services for breaching Principle 6 of the FSA’s Statements of Principle for Approved Persons.
Joseph was Compliance Officer at Dynamic Decisions Capital Management (DDCM), a hedge fund management company based in London (and Milan).
In the wake of the collapse of Lehman Brothers, the investment strategy adopted by DDCM for the fund it managed resulted in losses totalling approximately 85% of the fund’s total assets under management. To conceal the losses, in late 2008, a senior employee
The Greenwich Roundtable has released a white paper describing how investors can manage complexity of alternative investments to improve their returns.
The Greenwich Roundtable is a leading not-for-profit research and educational organization comprised largely of institutional investors overseeing collectively USD2.2 trillion in assets.
The research paper focuses on understanding the many and varied risks involved in hedge funds and private equity, and describes the best practices and due diligence steps that investors need to pursue to manage those risks. The white paper also explores the complexity of volatility, leverage, and liquidity and how these factors together can compound risk.
Fund administrator Kaufman Rossin Fund Services (KRFS) has introduced a new service designed to assist SEC-registered investment advisers of private funds in meeting their Form PF obligations.
Form PF was adopted as part of a new rule which was unanimously approved by The Securities and Exchange Commission (SEC) on 26 October, 2011. This new rule will require certain advisors to private funds to report specified information about the funds they advise to the SEC on Form PF. This information will be used by the Financial Stability Oversight Council (FSOC) in monitoring risks to the US financial system.
KRFS is prepared
Benros Capital recently implemented the Imagine Software’s award-winning, cloud-based ASP service. Benros, a newly-formed European event-driven hedge fund founded by former Goldman Sachs proprietary traders Daniele Benatoff and Ariel Roskis, employs the system to provide real-time portfolio and risk management of its global equity, derivative, and FX operations.
"Imagine stood apart from the other providers we evaluated because it alone offered institutional-grade functionality within an affordable and scalable cost structure," says Ariel Roskis, Chief Investment Officer of Benros. "We needed intra-day, firm-wide risk and P&L oversight, as well as extensive reporting capabilities. Imagine’s live portfolio management and risk exposure monitoring
The Dow Jones Credit Suisse Hedge Fund Index posted its largest monthly gain since April and finished up 1.73% in October.
Equity and credit based strategies such as long/short equity, emerging markets, event driven, and distressed were some of the top performers in October. However, the strategies remain in negative territory year-to-date.
Tactical trading managers showed a bifurcation in performance as global macro managers posted positive performance while, on the purely systematic side, managed futures funds posted negative performance, largely due to losses from trend-following models.
On the relative value front, fixed income arbitrage managers posted a small gain despite
