January 22, 2009 |
Alternative investing these days seems to mean finding an alternative to once red-hot hedge funds. Institutional investors and well-heeled investors yanked a record $152 billion of their cash from hedge funds in the fourth quarter, and $155 billion for all of 2008, marking only the second year with net withdrawals since Hedge Fund Research began tracking the industry in 1990. Total industry assets shrank to $1.4 trillion by year-end, from the mid-2008 peak of $1.
April 21, 2004 |
New York Atty. Gen. Eliot Spitzer called the Securities and Exchange Commission's focus on policing the $800-billion hedge fund industry unnecessary because the funds pose few risks to average investors. "I'm a little skeptical of the effort to focus so much attention on hedge funds right now," Spitzer testified before a congressional subcommittee in New York on Tuesday.
October 19, 2006 |
Sen. Charles Grassley, chairman of the Senate Finance Committee, wrote to several financial regulatory agencies this week to express concern about the lack of hedge fund oversight and to ask for advice on how Congress could improve the transparency of hedge funds. Grassley (R-Iowa) said in the letter that "tens of millions of Americans may be unwittingly exposed to hedge fund investments" through public and private pension plans that invest in hedge funds.
March 25, 2003 |
Securities and Exchange Commission Chairman William Donaldson, worried that hedge funds are luring less sophisticated investors, said Monday that the agency will hold public hearings on the industry in the next few months. Donaldson said he is concerned that the private partnerships for wealthy individuals and institutions are being marketed to a broader base of individuals.
January 17, 2006 |
After the near-collapse of a giant hedge fund in 1998, Wall Street investment bank Citigroup Inc. scaled back its exposure to the freewheeling investment funds. But as hedge funds exploded in popularity in recent years, Citigroup changed its thinking. Now, like the rest of Wall Street, it is aggressively courting hedge funds for their lucrative securities trades and other business.
February 9, 2008 |
Hedge fund managers who concentrate on picking stocks lost an average of 4.1% in January, the biggest monthly decline in more than seven years, as global equity markets tumbled, a report shows. It was the worst month for stock hedge funds since a 4.3% decline in November 2000, when the collapse of technology shares was in full swing, according to a report issued Friday by Chicago-based Hedge Fund Research, which tracks fund returns. But stock hedge funds still outperformed the Standard & Poor's 500 index, which fell 6.1% in January, as well as the MSCI World index of developed-economy stocks, which tumbled 7.7% in January.
April 29, 1999 |
A White House task force plans to recommend today that Congress require the vast investment pools known as hedge funds to disclose previously private financial information on a regular basis, thus giving regulators and investors advance knowledge of their borrowings and risk-taking in the securities markets.
April 30, 1999 |
In calling for more scrutiny of--but not direct control over--so-called hedge funds, federal regulators are taking a measured and market-oriented approach to problems that erupted last year in the $300-billion industry, experts said Thursday. The steps proposed by the Clinton administration Thursday seem unlikely to drive more of the often-shadowy funds offshore or spark strong opposition from Wall Street, these observers said. "I'm impressed.
February 11, 2004 |
More institutional investors are ready to try putting money in hedge funds but they want no surprises -- and the right to get out fast if something goes wrong, a survey released Tuesday showed. Hedge funds, lightly regulated investment pools once primarily used by wealthy individuals, are luring institutions such as public pension funds and endowments.
October 18, 2002 |
The Securities and Exchange Commission is examining whether hedge fund managers are inflating the value of their portfolios to increase their own compensation, an SEC official said. The probe is focusing on new investment vehicles called "funds of hedge funds." About 20 banks and mutual fund companies have started registering these diversified investment vehicles in the last year or so.