HF Managers Frustrated with Insurance Settlements & Hedge Funds News of The Day 6/20/2012

by Staff Writer on June 20, 2012

HF Managers Frustrated with Insurance Settlements [eVestmentHFN] A new survey from financial insurance firm Baronsmead indicates that poor management and settlement of insurance claims remains one of the biggest concerns for hedge fund managers. According to the London-based firm’s second annual “Hedge Fund Insurance Survey,” 83% of managers who have had a claim said there is a lack of quality of the claims handling.

SEC Bars Three from Future Practice [eVestmentHFN] The Securities and Exchange Commission has issued orders against two fund managers and an attorney banning them from further work in their respective fields. On Friday, the SEC barred Andrey Hicks “from association with an investment adviser, broker, dealer, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization.” The order against Hicks was issued after he failed to meet a May 18 deadline to show why he should not be subject to a ban.

Where Emerging Managers Meet Institutional Investors [eVestmentHFN] The all-day Consortium 2012 brought out over 300 attendees Thursday to New York’s Intercontinental Times Square Hotel. The purpose of the conference was to bring together institutional investors with women and minority-owned firms as well as other mid-to-smaller sized emerging managers. The topics discussed ranged from Africa-focused investment strategies to emerging managers approaching potential investors.

Pension Funds Embrace Alternatives [FinancialNews] The figures, from consultants Russell Investments, suggest many investors have done so already. Russell surveyed 144 large investment institutions, who manage a total $1.1 trillion, and found that about 22.4% of their existing portfolios – or $246bn – is invested in things like hedge funds, private equity and real estate. When Russell asked the same question of 119 investors two years ago, in its 2010 survey, on average only 14% of their portfolios were in these kinds of investments.

Hedge Funds Bet on Big Bunds Sell-Off [CNBC] Leading hedge fund managers are betting on a significant sell-off in German government bonds in the coming months after a sharp fall in yields on the debt paper driven by a flight to safety in the eurozone. More than 50 percent of managers polled at an industry conference in Monaco on Tuesday said they expect Bund yields to double within a year.

Peter Thiel Launches Mithril Capital, a New $402M Growth-Stage Investment Firm [AllThingsD] PayPal co-founder and influential investor Peter Thiel is reallocating some resources — both people and money — to create a new growth-stage venture capital firm called Mithril Capital Management. Mithril is aimed at fast-growing companies that “prefer to remain private as they mature.”

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