OSHedge Blog

Many top US funds still making up lost ground

lifegauge — Mon, 06 Jul 2009 12:54:50 +0000

NEW YORK (Reuters) - At the midyear mark, even some of the best-performing mutual funds of 2009 are still working on comebacks from dismal losses last year, underscoring lingering uncertainty in markets and in the funds industry.

More on Madoff feeder drama

lifegauge — Mon, 06 Jul 2009 12:35:04 +0000

We've noted the drama surrounding the many feeder funds that lived off Bernard Madoff. Were they victims, or accomplices? Recall that the state of New York has already charged Ascot Partners, headed by J. Ezra Merkin, of deceiving his clients by "falsely claiming he actively managed their funds," when he was in reality simply investing via Madoff, according to the New York Times. The strategy yielded millions in fees over the years from Madoff.

Merkin has hit back, filing papers that say his investors knew full well where their money was invested. Merkin claims he even arranged for his investors to meet Madoff to conduct their own due diligence. Merkin's Ascot fund placed virtually all of its money with Madoff. His Ariel and Gabriel funds placed less money with the schemer. We will likely see this drama played out in some form with other feeders.

For more:
- here's the article

What to make of the Sun Valley conference?

lifegauge — Mon, 06 Jul 2009 12:32:08 +0000

Allen & Co.'s annual deal maker bash in Sun Valley gets underway this week. It used to be the event for money managers to get together with top executives across the media and technology industries. And it was a high-profile brand-burnishing opportunity for a boutique investment bank that was mining a rich niche.

People have always used the event as a barometer of what's hot. The AP notes that this year, Twitter CEO Evan Williams "will likely be in high demand as everyone tries to figure out whether the online messaging service is a fad or a revolutionary breakthrough in communications."

From a financial and deal standpoint, optimism reigns in the industry--as always. There will be a return to big deals and more investment, although the models that have served the industry will have changed. Marc Andreessen of Netscape fame has closed on a new $300 million VC fund, and predicts many other funds will close.

For more:
- here's the article

The biggest wealth managers…

lifegauge — Mon, 06 Jul 2009 12:30:48 +0000

Bank of America has one thing going for it: By dint of its purchase of Merrill Lynch, it is now the world's biggest asset manager, notes Bloomberg. UBS is the second largest, followed by Citigroup and Wells Fargo. Next come Credit Suisse, JP Morgan Chase, Morgan Stanley, HSBC, Deutsche Bank and then Goldman Sachs. Article

Netscape’s Andreessen and Horowitz form VC fund

lifegauge — Mon, 06 Jul 2009 10:52:04 +0000

SAN FRANCISCO (Reuters) - Well-known Internet entrepreneurs Mark Andreessen and Ben Horowitz have raised $300 million (186 million pounds) for a new venture capital fund, declaring they plan to avoid the danger of forcing start-up companies to make money too soon.

Investors eye safer funds, firms must adjust

lifegauge — Mon, 06 Jul 2009 10:36:57 +0000

BOSTON (Reuters) - Money managers must offer new portfolios and keep cutting costs to survive in an era where frightened investors prefer safer fixed-income funds to stock and hedge funds, a report released on Monday showed.

Land Securities sells City of London offices

lifegauge — Mon, 06 Jul 2009 10:05:24 +0000

LONDON (Reuters) - Land Securities , the UK's largest real estate investment trust said on Monday it has sold the leasehold interest in London office building One Wood Street for 105.5 million pounds.

Monday Watch

lifegauge — Sun, 05 Jul 2009 18:46:00 +0000

Weekly Outlook

lifegauge — Sun, 05 Jul 2009 09:59:00 +0000

Market Week in Review

lifegauge — Sat, 04 Jul 2009 01:01:00 +0000