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Hedge Fund News – Bridgewater’s Jensen 3rd in Forbes 40 Under 40

Bridgewater Associates’ Greg Jensen and Centaurus Capital’s John Arnold Listed in Top 5 of Forbes’ ’40 Under 40′ List (FINAlternatives)

A pair of hedgies feature prominently in this year’s edition of Fortune magazine’s ranking of the top young guns in business. Bridgewater Associates‘ Greg Jensen and Centaurus Capital’s John Arnold are among the top five in Fortune’s “40 under 40” list, led this year by Facebook founder Mark Zuckerberg. Jensen, the co-CEO and co-chief investment officer at the world’s largest hedge fund, clocks in at number three, while Arnold is ranked fifth following his firm’s first-ever losing year. Both Jensen and Arnold are 37.


Smaller Hedge Funds Technology Demands Increase (HFMWeek)

Smaller hedge fund launches are increasingly demanding technology more usually employed by bigger, more institutional-type funds, according to technology provider Advent Software. Håkan Valberg, senior vice-president and general manager for Advent in the EMEA region, told HFMWeek that smaller funds were a big growth driver for the company, adding that Advent’s European wing could grow by as much as 35% this year. The global asset management and technology house, which operates in over 50 countries, consolidated its hedge fund service in March by purchasing Syncova Solutions, a provider of margin management and financing software.

Alternative Investment Management Hires Donna Toth as COO (FINAlternatives)

New York-based Alternative Investment Management has hired Blackstone vet Donna Toth as chief operating officer. Toth who will be based in New York reporting directly to AIM president Jonathan Harris, was a founder and managing principal of Park Hill Group, Blackstone’s third-party global placement agent arm. In that role, she was responsible for directing all operational and financial functions of the business.
DMS Management Opens New York Office (FINAlternatives)
Hedge fund governance specialist dms Management has opened an office in the world’s hedge fund capital. The Cayman Islands-based company said that Kathleen Celoria would head the new effort—which is at the forefront of dms’ bid to expand into onshore fund governance efforts. “Our New York office aims to fortify our existing relationships with U.S. stakeholders, many of whom are based in New York, and to facilitate our ongoing face-to-face interactions,” Celoria said. “It will help make our governance work more accessible and transparent to the funds we serve and their investors.”

Ex-BK Hedge Fund Exec Paul Feeney Joins Old Mutual (FINAlternatives)

A Bank of New York Mellon hedge fund distribution and development executive has left the firm to join Old Mutual’s asset management business. Paul Feeney served as head of international distribution at BNY Mellon, where his remit covered distribution of BNY Mellon Asset Management’s alternative and hedge fund strategies, as well as the group’s marketing in the U.K., continental Europe and Latin America. Feeney joined BNY Mellon Asset Management in 2008 from the Gartmore Group, where he was head of distribution.

Arun Kaul Named CIO Olympian Capital (FINAlternatives)

Hedge fund Olympian Capital Management has hired a new chief investment officer, Arun Kaul. Kaul is charged with helping the Ft. Lauderdale, Fla., firm expand into new strategies. The firm hopes to add a global macro multi-asset strategy to its lineup, focusing on currencies, stocks, fixed-income and commodity futures. “We’ve tried to bring some of the sophistication of the tools from a hedge fund to the private client,” Kaul told Advanced Trading of the new strategy, which will be offered as a separate accounts product. “A lot of investment firms offer a model portfolio, which is a broad model that has fewer asset classes.”

SA Hedge Funds Outperform Volatile Alsi (BusinessLive)

Local hedge funds outperformed the JSE All Share Index in August, a month characterised by high levels of volatility in local equity markets. According to Eben Karsten, portfolio manager at Blue Ink Investments, while the Alsi closed August weaker by 0.3%, this performance hides considerable volatility during the month, with the Alsi recovering from a 9% decline in the first week of the month.  In contrast, hedge funds continued to perform strongly, with the Blue Ink Hedge Fund Composite, which tracks the performance of around 100 single strategy hedge funds in SA, gaining 0.91% over August.

David Wong Joins Artradis as Fortress Co-CIO with David Dredge (Bloomberg)

Fortress Investment Group LLC (FIG) hired former hedge-fund managers from Artradis Fund Management Pte to head a new strategy that seeks to produce payoffs when there are unlikely occurrences that may prove disastrous for investors. David Dredge and Andrew Wong joined as co-chief investment officers of Fortress’s Convex Strategies Group, while Julian Ings-Chambers is its head of business development and investor relations, Gordon Runte, a spokesman for the New York-based firm, said in response to queries. The team, based in Singapore, is part of Fortress’s liquid-markets business, he said.

Bob Morgan to Lead New Northern Trust Alternatives Unit (MarketWatch)

Northern Trust announced today that Robert P. Morgan has been named to lead a new unit, Northern Trust Alternatives Group, formed to develop and manage all alternative investment products, including hedge and private equity funds of funds, for institutional and personal clients. Northern Trust Alternatives Group brings together portfolio management, product, sales and service teams to build on the private equity and hedge fund solutions that have been part of Northern Trust’s manager-of-managers business. Morgan, who had previously been Director of Private Equity, oversees approximately $3.5 billion under management or advisory as Managing Director of the new group.

Vulpes Investment Management Hires Martin Shenfield as Senior Portfolio Manager (Bloomberg)

Vulpes Investment Management, an asset-management firm set up by hedge-fund manager Stephen Diggle, said it hired Martin Shenfield as senior portfolio manager, overseeing its Testudo Fund. The Testudo Fund was set up in March 2008 as an alternative investment fund for public and private equities, commodities and bonds worldwide, Singapore-based Vulpes said in an e-mailed statement today.

Linedata Named Best Overall Technology Provider by HFMWeek (BobsGuide)

Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced that it had been named ‘Best Overall Technology Provider’ at the annual HFMWeek US Service Provider Awards, ahead of fierce vendor competition. Having previously won awards for Linedata Beauchamp Portfolio Management Solution both in the US and European HFMWeek awards, Linedata has broadened its approach to hedge fund servicing, reflected in this higher award.

F&C Asset Management to Cut Jobs (Businessweek)

F&C Asset Management Plc, which runs the U.K.’s oldest investment trust, will almost triple cost reduction plans and cut jobs as part of a strategic review under Executive Chairman Edward Bramson. F&C will cut 33.2 million pounds ($53 million), or 4.7 pence a share, of costs by 2013, up from the 12 million pounds, or 1.7 pence a share, previously announced, the London-based fund manager said in a statement. The stock climbed 8.9 percent to 67.9 pence at 8:29 a.m. in London trading, the biggest rise since August 2010.

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