General category

Spotlight Series: Bill Browder advises “proceed with caution”

September 13, 2020

William (Bill) Browder co-founded Hermitage Capital Management in 1996, and became the largest foreign investor in the Russian stock market. Then in November 2005, he was suddenly refused entry into Russia on the premise that he was “threat to national security.”

In June 2007, officers from the Moscow Interior Ministry raided the Hermitage offices, documents were seized and ownership of the Hermitage Fund’s Russian companies transferred to a criminal group. When Hermitage Capital’s tax lawyer Sergey Magnitsky testified about government officials involvement in a tax fraud that refunded US$230 million, that Hermitage had paid two years earlier, to the criminal group, he was imprisoned without trial where he died 11 months later.

In an interview with the Spotlight Series, Bill explains how he is working with international governments on his mission to lift the lid on corruption.

Post Under: General

The Spotlight Series with Peter Lupoff, Tiburon Capital Management

July 23, 2020

Peter M. Lupoff, Founder TIBURON CAPITAL MANAGEMENT, chaired at session at GAIM International 2010 entitled Credit/Distressed – “The Best Opportunity of a Lifetime” Redux. He was joined on the panel by

Asset Allocators:

  • Russell E. Lundeberg, Jr, Principal & CIO, BARRETT CAPITAL MANAGEMENT, LLC
  • Ingrid Neitsch, Director, FRM
  • Ernesto Prado, CIO & Managing Partner, AYALTIS AG

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and Asset Managers:

  • Steve  Moyer, SVP, PIMCO
  • Daniel Capocci, Portfolio Manager, DC ADVISORY
  • Juan Luis Rivera, Partner, Portfolio Manager - LATAM, MONEDA ASSET MANAGEMENT S.A.

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In an interview with for the Spotlight Series, Peter outlines his own strategies to simultaneously hedge risk, be open to the opportunities of a tumultuous market while remaining agnostic to the broader market.  He also explains why he feels the panelists have a uniformly bearish view to the end of the year.

Post Under: Asset Management, General

East Coast Bears…

June 29, 2020

A. Non was crowned the inaugural Poet Laureate of the Hedge Fund industry, but not without some stiff competition.  The runner up entry was East Coast Bears… an inspired pastiche of the Pet Shop Boys “West End Girls”.  We’re always on the look out for new talent so send us your sonnets and ballads whenever the markets move you to verse!

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East Coast Bears


Comparing public art and what it tells us about public attitude-
outside manila stock exchange bear dominating a cowering bull,
London kinetic installation that could mean anything
(don't mention money) directly, franc bourse? 
New York just the bull so I was wondering
has the bear escaped or if there never
was bear in the American psyche? 
 
Sometimes you'd be better not being at all,  
bear on the loose,  
Dow in freefall.  
Bear is mad, very unstable 
Charging through chairs 
Biting through cables 
In a hedge fund, in an East Coast town.  
Call the police, there's a mad bear around,  
Running down underground to a stock exchange in an East Coast town 
 
Too many shadows, whispering voices,
faces on posters. Too many choices, 
if when why what,
how much have you got?  
Have you got it?
Do you get it if so how often 
And which do you choose,
the long or short option. ? 
 
Phone rings - Mr President! .. 
You're watching on the webcam!  
You hear I'm spreading rumours about a bear? There is no bear? Haven’t you seen  
the sculpture? 
Do I see the lady in Prada and guy in Gucci? Ok ok  
Phew it's all alright ladies and gentlemen you can go back to your desks there is  
no bear 
- unless?  There's an alleged but unproven 
Post Under: General

A complete round up of news and views from GAIM International 2010

June 24, 2020

GAIM International is the “must attend” annual hedge fund conference.  The 2010 event continued that tradition, 16 years in the making.  In addition to the coverage of the event by Beverly Chandler,  we’ve gathered the leading articles and commentary from the business news websites to give you a comprehensive review of this years hugely successful event.  B.H. Fraser provided an alternative view of the industry as Poet in Residence.

We have captured a series of video interviews with some of the industry leaders which will be posted on this site over the coming weeks.   To make sure you don’t miss out, either add the RSS feed to your reader or sign up for email alerts.

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Some key quotes from industry players - Reuters

What does Gerlof de Vrij, Head of Global Tactical Asset Allocation at APG think about hedge funds as a liquid asset class and thoughts from other industry leaders as the sector wrestles with challenges from regulation, consolidation and market volatility…. more here

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Flat currencies to lose value against real assets - Reuters

Veteran hedge fund manager Bill Browder is buying commodities and the companies that produce them in emerging markets to profit from what he said is a looming crisis in the world’s major currencies…. more here

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Hedge-Fund Survival Skills to Be Tested by Increased European Regulation - Bloomberg

“The survival instincts that many hedge-fund managers have in markets they’re also going to have to display in facing up to regulatory challenges,” Rick Sopher, managing director of LCF Edmond de Rothschild Asset Management Ltd…. more here

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Macro hedge funds best despite May dip - Reuters

Hedge funds taking directional bets on markets will be among the best performers in 2010 as concerns over the health of major economies continue to dominate markets, said Lombard Odier’s head of hedge funds advisory… more here

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Executives sound warning on hedge funds UCITS boom - Reuters

“It’s very difficult, if everyone seeks daily liquidity, to invest in hedge funds properly,” said Steve Friedman, managing partner of EOS Partners… more here

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The Mirror Crack’d - FT Alphaville

Mike Novogratz, one of the founders of the giant Fortress Group, and Hugh Hendry, the voluble manager behind the definitely smaller but in some ways no less influential Eclectica Asset Management, slugging it out…. more here

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Hedge Fund investors almost double macro bets as global trades proliferate - Bloomberg

Hedge funds that bet on economic trends are attracting cash at almost double last year’s pace as they seek to profit from events such as Europe’s sovereign debt crisis and China’s decision to let the yuan trade more freely…. more here

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Seed investors return to start-up hedge funds - Reuters

Sovereign wealth funds and pension funds are backing start-up or small hedge funds again, said FRM Capital Advisers… more here

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Mammon and Montrachet - FT Alphaville

What do eastern mysticism, violence, mammon, and am dram have in common? They are all dinner and drinks topics of conversation amongst hedge fund managers in Monaco…. more here

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Sand, sea and SEC - HFM Week

While managers gathered in a stormy south of France last week, for Monaco’s annual GAIM International event, pondered the labyrinthine twists of EU and US regulatory developments, investors jetted in with a different set of priorities… more here

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The Great Investing Dilemma of 2010 - Market Melange

The notion of negative Chinese GDP growth is widely regarded as a near impossibility –much like the notion that house prices would keep going up for ever – scary thought! …. more here

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Hedge Funds Turn Mutual Funds to Short-Circuit European Rules With NEWCITS - Bloomberg

Guy Hurley said he’s not sweating European plans for new hedge-fund rules after leaving Bank of America Corp.’s Merrill Lynch & Co. a year ago to start an onshore fund that uses strategies such as merger arbitrage…. more here

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Byron Wien sees a bottoming in stock prices and the possible return of $10 billion-sized buyouts - Reuters

Wien, who is well known for his annual predictions and who correctly called the rebound in China in 2009, said he was not as bullish as at the start of the year but nevertheless thinks a deterioration in the sovereign debt crisis will be avoided… more here

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Man Group Won’t Make Significant Acquisitions After GLG, CEO Clarke Says - Bloomberg

“It is effectively job done for our liquid trading strategies,” Clarke, 49, said today at the GAIM International hedge-fund conference in Monaco. “It’s possible we could infill with smaller mergers in Asia-Pacific.”…. more here


Post Under: Economic Outlook, General

Everyone’s talking about us.

June 16, 2020

Bears stalk hedgie jamboree - Reuters

After 20 percent gains in 2009 and a year of inflows, you might expect the mood in Monaco at the annual GAIM hedge fund conference to be jubilant. Indeed, Martin de Sa’Pinto has identified some crucial developments in delegates’ late-night carousing which point to some renewed confidence…. more here

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Blackstone’s Wien says Hedge Fund returns could halve - Bloomberg

Byron Wien, vice chairman of Blackstone Group LP’s advisory services division, said hedge fund returns may shrink by half as firms seek to protect investors’ capital.   Returns may drop to 10 percent from 20 percent as funds lose their “zeal,” Wien, 77, told the GAIM International hedge fund conference at Monaco’s Grimaldi Forum today. more here

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Transparency, fees, main hedge challenges-managers - Reuters

Hedge funds are facing growing pressure for more transparency and lower fees as investors seek to better understand their investments and get more perceived value for money, managers said on Tuesday at GAIM International. more here

Post Under: General

And the winner is…….

June 16, 2020

 The infamous A Non wins again in GAIM’s inaugural poetry competition, run by the City PoetBH Fraser was ably assisted by the cultural elite of the conference circuit who contributed everything from Haikus to Limericks in a bid to become the Poet Laureate of the Hedge Fund Industry.

 The Untenable    by A Non

Shame on me for a deficit in compunction  

to ascertain properly the lack of function  

among regulators, raters and market cognoscenti,  

Those providing assurances  of liquidity aplenty.  

For the game is mapped but the boundaries askew,  

interpreted by many, understood by few;  

And those that decree that this house is in order  

show no effects  

of the sleep disorder  

that plagues the loyal, true and willing  

Willing to recommence a strategy  

in Euro, Yen or Shilling.  

So when the hourglass switches, sand slowly shifting,  

to alternative assets and styles that are drifting,  

will emerge a  New Order, an Archetype of Model  

surpassing the morass of regulatory  twaddle.

Post Under: General

Who will you meet next week at GAIM International 2010 in Monaco?

June 10, 2020

♦      900 INFLUENTIAL EXISTING AND EMERGING PLAYERS in the alternatives world including

Peter Clarke, Man Group plc

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“Investors want to see stable businesses managing their money”

Byron Wien, Blackstone Advisory

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“predicts the Japanese equity market will perform surprising well”

Kerry Stirton

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“Liquidity has become a key driver”

Rodger Smith, Greenwich Associates

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“How to deliver best-in-class client service?”

♦        400 ASSET MANAGERS from around the world

♦        250+ ASSET ALLOCATORS from fund of funds and sovereign wealth funds to institutional investors and family offices including

World Bank Pension, Storebrand, Guggenheim, Barclays Pension Fund, Wellcome Trust, Leleux Invest, BBVA Private Pension Fund Perú, Caisse de dépôt et placement du Québec, Morgan Stanley Alternative Investment Partners, PAAMCO, CERN, MN Services, Clariden Leu, Doctors Pension Funds, FAPES -BNDES Pension Fund, Treesdale, Pictet Wealth Management, UBP, Ferguson Partners Family Office, HSBC Private Bank, Investment For Social Contribution, Julius Baer Pension Fund, LCF Rothschild, SEB TryggLiv, The Manhattan Family Office, Universities Superannuation Scheme, a large Middle East SWF and many more…

Make Contact & Set Up Meetings Now on GAIM e-Networker

♦        Now Live! Investor Search Criteria now live on  – find the investors interested in your strategies, contact them and set up meetings! Now Blackberry and iPhone enabled to help you find investors and set up meetings while at the event too

♦        Now Live! Gaim e-Networker delegate list: See who is attending, update your profile and schedule meetings ahead of the event!

Post Under: General

Announcing “The Quickfire Showcase” Line-ups

June 9, 2020

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Proud sponsors of our Quickfire showcases bring you 30 unique and exciting Funds.

Please join us at the Quickfire Theatre in the central hall to cheer them on.


Tuesday 15th June 13.00 -13.25

Presenter

Alan Cauberghs
Anne-Sophie D’Andlau
Rob Duncan
Lauren Sokolowski
Diego Wauters
Bruno Guillemin
John Higgins
Alexander Jacobse
J Bradley Hall
Christopher Sherriff

Fund Name

Serone Capital
CIAM
Burlington Capital
landandbuildings
Coriolis Capital
Fundana
doublooncapital
HCSA
goldxcorp
Sólido Group

Fund USP

Capital Structure Arbitrage via A Long/Short Credit Approach
Merger Arbitrage
North American Focused Long/Short Equity Fund
L/S Equity Fund Focused on Global Real Estate & Related Equities
Catastrophe Bonds
Old School FOF
Event-Driven
Long Short Equity Focus Germany and Their European Competitors
Currency denominated gold funds
Risk Mitigation Product to Property Developers.

Read more »

Post Under: Asset Management, General

STOP PRESS: QuickFire Showcase opens for registration…

June 3, 2020

SEND YOUR ENTRIES TO JENNY ADAMS AT

[email protected]

.

Request to sign-up for QuickFire Showcase will be sent Monday June 7th at 3pm GMT / 4pm CET/ 9am SET

  • Asset Managers, ensure you are fully registered and paid up in order to have a chance to participate in our highly effective and famous GAIM International QuickFire Delegate Showcases and kindly sponsored by Scotia Capital.
  • Don’t miss your opportunity to pitch your fund to our 250+ allocator community (click here for list of the investors/ allocators attending).
  • Take the ultimate test for expressing your fund’s unique edge - with no props or PowerPoint.
  • Guaranteed friendly investor feedback and huge cheers – all at the Heart of The Event, you will be marked out of ten for content, style and clarity in front of guaranteed friendly asset allocator judges.
  • 30 slots available over three days, each 90 seconds flat.
  • Slots allocated based on speed of reply, diversity of fund strategy, with priority given to those firms not already speaking at the event.

Read more »

Post Under: General

Asset Managers, want to know what Investors are looking for?

June 2, 2020

250+ investors have told us as part of the GAIM International 2010 Investor Survey.  Some of the key strategies of interest are listed below but the most important outtake is that, unlike previous years, investors are looking for funds that outperform regardless strategy.

If you have a great fund, now is the time to start making contacts.  Over 65% of investors have said yes to pre-event contact, enabling their email addresses to be distributed to registered users of the E-Networker software.

E-Networker for GAIM International 14 - 17 June 2020 is now LIVE. Read more »

Post Under: General


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