Evening Leaders – Shkreli Proved Wrong on Neoprobe, EU Short Selling

Martin Shkreli Proved Wrong After FDA Accepts Neoprobe’s Application (TheStreet)

Wednesday night, Neoprobe said U.S. regulators accepted the company’s new drug application for Lymphoseek, a new lymph-node mapping agent used to determine the spread of cancer. Neoprobe filed Lymphoseek with the U.S. Food and Drug Administration in August. Normally, FDA acceptance of an approval filing isn’t big news; the FDA approval decision that comes later is much more significant. Neoprobe was an unusual case, however, due to the very public campaign last June waged by MSMB Capital hedge fund manager Martin Shkreli, who shorted Neoprobe and then filed a citizen petition with FDA seeking to prevent the agency from reviewing Lymphoseek.

blackrock_logo_2218

Conifer Group Launches Cloud-Based Hedge Fund Reporting (HedgeCo)

Hedge fund administrator, the Conifer Group, LLC has launched the ‘Conifer iCon’, the first cloud-based solution delivering an entire suite of asset servicing processes, including a data repository and in-depth attribution reporting, from one customizable portal.

Hedge Funds Returns for October Flat So Far Says GlobeOp (WSJ)

Worries over heavy hedge-fund redemptions after poor performance may be overdone, according to data Wednesday from hedge fund service provider GlobeOp Financial Services SA (GO.LN)GlobeOp, which runs middle- and back-office functions for about 190 hedge-fund firms and other asset managers, said redemptions and subscriptions so far this month were both around $5 billion across the $171 billion in client assets it works on, for a flat monthly flow.

SEC to Weigh Hedge Fund Rule (Businessweek)

Hedge funds and private-equity funds will be asked to deliver “extraordinary amounts” of new data to the U.S. Securities and Exchange Commission under a rule set for a vote next week, said SEC Chairman Mary Schapiro. Under the version of the rule proposed by the SEC on Jan. 26, firms managing more than $1 billion would have to file quarterly information on fund assets, leverage, investment positions, valuation and trading practices on a new Form PF. That added oversight would also come with routine inspections.

BlackRock to Launch Best Ideas Fund (FINAlternatives)

BlackRock will launch a UK equities best ideas fund to be helmed by its co-head of UK equities, Luke Chappell. Chappell and BlackRock director Imran Sattar will manage the new vehicle—a retail version of the firm’s institutional UK Focus fund—which will be launched this month. The new fund will focus on companies incorporated or listed in the UK.

Advent Capital Adds Four Members to Team (FINAlternatives)

New York-based Advent Capital Management has added four members to its team in four newly created positions. Advent spokesman David Millar told Pensions & Investments the new hires include Andrzej Rojek, who has joined Advent as managing director in the marketing unit of the convertible and high-yield bond specialist. Also joining are Marc J. Friezo, as associate portfolio manager for Advent Capital’s hedged convertible strategy; Thomas Cui, as a portfolio analyst for the hedged convertible strategy; and Douglas A.D. Teresko as associate portfolio manager for the company’s long-only convertible bond strategy.

EU to Impose Tougher Restrictions on Short Selling (FINAlternatives)

The EU will impose stricter regulations on the short selling of shares and bonds, banning “naked” credit default swaps on government bonds. Agreement on the new rules was reached Tuesday between representatives of the European Parliament and EU member states. Proponents say they will make financial markets more stable. The rules should get the final stamp of approval from the full EP and EU finance ministers within the next few weeks and take effect as of Nov. 1, 2012.

Henderson Global Soft Closes Two Funds (FINAlternatives)

Henderson Global Investors has announced that it is closing two of its retail-oriented absolute return funds to new investment—for now—because they are close to reaching their $2 billion capacity. The two funds, Henderson UK Absolute Return OEIC and Henderson Gartmore UK Absolute Return SICAV, which are both managed by Ben Wallace and Luke Newman, will soft close on Nov. 30.  According to the firm, the move is being made in order to protect the interests of existing investors and to seek to avoid potential performance dilution.

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!