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Losses on junk-bond ETFs are outpacing the broader U.S. high-yield market by the most in three years, signaling a deepening slump for debt that traded at record-high prices less than a month ago. Click Here for More
Guggenheim Investment Advisory, the $70 billion unit of Guggenheim Partners LLC, is searching for long-short equity and event-driven managers for allocations. Long-short equity is Guggenheim Investment Advisory’s “top risk-adjusted strategy pick for 2013” in an environment of decreasing correlations, according to Charles Stucke, chief investment officer of Guggenheim Investment Advisors and senior managing director of Guggenheim Partners, the New York- [...]
Conexant Systems Inc was acquired in April 2011 by Golden Gate Capital for $282. million for $282.2 million and will be sold to an affiliate of Soros Fund Management in exchange for debt under a prepackaged Chapter 11 reorganization begun early Thursday morning in Delaware. Click here to continue reading
Issuance of CLO s in the U.S. this year could reach $75 billion to $100 billion, rivaling the $91.1 billion record-high set in 2007, according to asset managers and arrangers who spoke at Bloomberg Brief’s CLO Webinar. Click Here for More
Mark Yusko, the chief investment officer of the $3.5 billion Endowment Fund said he’s stepping down, citing differences in running the fund, according to a letter sent to investors. David Einhorn’s Greenlight Capital Inc. and David Shaw’s D.E. Shaw & Co. are betting that shares of Swedish medical-equipment maker Elekta AB will decline. Hedge Funds: [...]
Download this exclusive sample issue of Bloomberg’s market leading newsletter here. In this issue: LEAD STORY: Charles Simonian, a former portfolio manager at SAC Capital’s Sigma Capital unit, plans to start a long/short equity hedge fund. RETURNS IN BRIEF: Elliott, Black River, Monarch, SkyBridge, Saiers, MKP funds. BRIEF EXCLUSIVES: Simple Alternatives searches for a long/short [...]
Hedge funds that use computer algorithms to follow trends lost money for a second straight year in 2012 as political debates over the U.S. fiscal cliff and Europe’s sovereign debt crisis roiled markets. The Newedge CTA Trend Sub-Index, which tracks the performance of the largest quant funds, fell 3.4 percent last year after a 7.9 percent decline [...]
By Kelly Bit Hedge funds on average climbed 1.6 percent in 2012 through November, lagging global stocks by almost tenfold as managers were whipsawed by market reactions to the economic and political events, according to Bloomberg data. Click here to continue reading.
By Kelly Bit Three out of five of New York City’s pension funds, which collectively have about $70 billion in assets, are searching for 10 to 15 hedge funds for direct allocations, according to Seema Hingorani, head of public equities and hedge funds at New York City Comptroller’s Office. The pensions, New York City Employees’ Retirement System, New [...]
