Vanguard closes top performing value fund to new investors for 'cooling off' periodOctober 9th, 2009 Vanguard temporarily closes fund to new investorsVALLEY FORGE, Pa. — Investment manager and mutual fund company Vanguard on Friday said it is temporarily closing its top-performing fund for 2009 to new investors.
Harbinger Capital cuts stake in New York Times Co. to 16.4 pct, calls company a 'core holding'September 22nd, 2009 Hedge fund sells part of its New York Times stockNEW YORK — Harbinger Capital Partners LLC says it has sold part of its 20 percent stake in The New York Times Co., but still considers the company a core holding. The hedge fund said in a securities filing this week that it sold 5 million Times shares at $8.25 each.
SEC creates new division of risk, strategy; will work with Britain on hedge fund rulesSeptember 16th, 2009 SEC creates new risk, strategy divisionWASHINGTON — The Securities and Exchange Commission has merged several offices and functions to create a division of risk, strategy and financial innovation. The new division will be headed by Henry T.C.
Tell me, Bernie: phone exchange between Madoff, top SEC official is illuminatingSeptember 4th, 2009 Questioning Madoff on the phoneThe new report by the inspector general of the Securities and Exchange Commission on the agency's failure to detect Bernard Madoff's multibillion-dollar fraud over 16 years is packed with disclosures and tantalizing details. Here, for example, is a snippet of a phone conversation in December 2003 between Lori Richards, then the director of the SEC's inspections office, and Madoff.
Calif. hedge fund manager pleads guilty to investment fraud, cheating family out of $25MAugust 25th, 2009 Calif. hedge fund manager pleads guilty to fraudLOS ANGELES — The founder and manager of two Beverly Hills hedge funds has pleaded guilty to federal fraud charges. Bradley Ruderman pleaded guilty Monday to two counts of wire fraud, two counts of investment adviser fraud and a misdemeanor count of failing to file income taxes in 2007.
NY trustee: Offshore hedge fund invested with Madoff should have known returns were fraudulentJuly 15th, 2009 NY trustee sues offshore hedge fund in Madoff caseNEW YORK — The trustee overseeing the liquidation of Bernard Madoff's assets has sued a hedge fund based in the Cayman Islands, claiming it should return $587 million it earned with Madoff to investors wiped out by the disgraced financier's colossal fraud. The complaint filed Tuesday in Manhattan bankruptcy court against the Herald Fund also names HSBC Bank as a defendant.
Hedge fund manager Merkin to sell art trove for $310M, could eventually help Madoff victimsJune 30th, 2009 Madoff 'feeder' Merkin parts with art troveNEW YORK — A hedge fund manager being sued over his role the Bernard Madoff scandal is selling off $310 million worth of art. Financier J.
Trustee sues overseas money manager, saying should have known about Madoff schemeMay 12th, 2009 Trustee sues money manager in Madoff caseNEW YORK — The trustee overseeing the liquidation of disgraced financier Bernard Madoff's assets has sued another investment fund. The lawsuit filed Tuesday in bankruptcy court in Manhattan accused the Harley International Ltd.
NY Trustee in Madoff scandal sues hedge fund manager for more than $500 millionMay 8th, 2009 Madoff NY trustee sues fund managerNEW YORK — The trustee overseeing the liquidation of Bernard Madoff's assets sued a prominent hedge fund manager for more than $500 on Thursday, claiming he was aware the disgraced financier was a swindler. The complaint filed in bankruptcy court in Manhattan called J.
SEC charges pair in first-ever insider trading tied to credit default swapsMay 5th, 2009 SEC charges pair with insider trading in swapsNEW YORK — The Securities and Exchange Commission on Tuesday charged a securities salesman and a portfolio manager with insider trading in the first such case involving credit default swaps. The SEC alleges that Jon-Paul Rorech, a salesman at Deutsche Bank Securities Inc., tipped off Renato Negrin, a former portfolio manager at hedge fund investment adviser Millennium Partners LP, about a possible change in terms of a bond being issued by VNU NV, a Dutch publishing company that owns Nielsen Media and other media businesses, in 2006.
Beverly Hills investment manager has assets frozen in hedge fund fraud caseApril 30th, 2009 Calif. fund manager's assets frozen in fraud caseLOS ANGELES — A federal judge has frozen the assets of a Beverly Hills hedge fund manager accused by the Securities Exchange Commission of duping investors out of $38 million. The injunction issued by U.S.
Beverly Hills investment manager has assets frozen in $38 million hedge fund fraud caseApril 30th, 2009 SoCal fund manager has assets frozen in fraud caseLOS ANGELES — A federal judge on Wednesday froze the assets of a Beverly Hills hedge fund manager accused by the Securities Exchange Commission of duping investors out of $38 million by misleading them about his funds' performance, the commission said in a statement. U.S. District Judge Valerie Baker Fairbank's injunction also prohibited Bradley L.
EU lays out first new rules to increase oversight for hedge funds, private equity fundsApril 29th, 2009 EU lays out new rules for hedge fundsBRUSSELS — The European Union is proposing new rules extending oversight for the euro2 trillion hedge fund and private equity fund industry. The European Commission says the new rules will require registration for funds managing more than euro100 million of assets — covering just 3 percent of hedge fund managers dealing with 9 percent of assets in EU-based funds.
Nearly 20 percent Asian hedge funds closed since 2008, survey saysApril 27th, 2009 Nearly 20 pct of Asia hedge funds close since '08HONG KONG — Almost 20 percent of Asia's hedge funds closed shop since the start of 2008 as a wave of investor redemptions and sharp losses amid the financial crisis took a heavy toll on the region's once high-flying industry, a new survey said Monday. At least 129 funds were shuttered in 2008 and 17 more in the first quarter of 2009, a study by London-based AsiaHedge magazine said.
British Columbia to set up office in ChandigarhApril 17th, 2009 CHANDIGARH - British Columbia will invest Rs.60 lakh in Chandigarh to set up an office of its in-market business investment and skills liaison representative, a senior official of the Canadian province said here. 'British Columbia Premier Gordon Campbell chose the Baisakhi parade in Vancouver city to announce that his province will further encourage trade and investment from northern India,' Crystal Sawyer, manager-India operations for the British Columbia regional innovation chair of the Canada-India Business and Economic Development Centre (BEDC), told IANS.
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