Hedge Funds Headlines of The Day 7/11/2012

by wpengine on July 11, 2012

English: Bernard Madoff's mugshotMadoff Feeder Fund Fairfield Sentry Dispute Among First Through FINRA Arbitration [Forbes] In a Financial Industry Regulatory Authority (“FINRA”) Arbitration Statement of Claim filed in connection with their investments in the Fairfield Sentry Hedge Fund, Claimants sought $2,473,195.46 in compensatory damage, punitive damages, return of commissions and fees, pre-and post-judgment interest, costs and fees;

Hedge Fund Investors Are Running For The Exits [BusinessInsider] Laurence Fletcher of Reuters is reporting that hedge fund withdrawals have reached their highest level since 2009, during the midst of the housing crisis. Net outflows from hedge funds, as measured by the GlobeOp GO.L Capital Movement Index, which tracks monthly net subscriptions to and redemptions from funds managing around $187 billion (120.49 billion pounds) in assets, were 1.17 percent of that total during the month to July 1.

John Paulson Warns Something’s Gotta Give In The European Debt Crisis [BusinessInsider] John Paulson, the Paulson & Co. founder who made billions by betting against the 2008 credit crisis, hasn’t been quite so lucky in recent months, and it’s only looking worse. After sustaining $3 billion in losses in 2011, Paulson just doesn’t seem to be recovering, Bloomberg’s Kelly Bit reported this morning.

MF Global Part 2? Another Brokerage Missing Over $200M In Client Funds [Forbes] Looks like MF Global may not be the only firm capable of losing hundreds of millions of dollars in client money. Regulators are going after a Chicago-based a futures brokerage saying it engaged in fraud, misused client money, violated customer fund segregation law and made false statements about its finances.

Arizona Pension Allocates $60 Million to HF [eVestmentHFN] The Arizona Public Safety Personnel Retirement System has reportedly committed up to $60 million to a long/short equity hedge fund. A Pensions and Investments article said that Southpoint Qualified Fund is the recipient of the allocation by the $6.5 billion pension system. The fund is managed by New York-based hedge fund firm Southpoint Capital Advisors.

Top 100 Firms Have Combined $3 Trillion AUM [eVestmentHFN] The top 100 alternative investment managers collectively manage more than $3 trillion in assets. According to the survey conducted by professional services company Towers Watson in conjunction with the Financial Times, hedge funds comprise 21%, or $643 billion of the total assets managed by the top 100 alternative investment firms. On the other hand, fund of hedge funds control 6%, or $187 billion.

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