Hedge Fund News: Daniel Och, Jim Chanos, Boaz Weinstein

John Hancock Currency Fund Sheds 8.7%, Hardest Hit by Swiss Franc Turmoil (Bloomberg)
The market turmoil sparked by the Swiss franc’s record surge has turned the $1.9 billion John Hancock Absolute Return Currency Fund into the biggest loser among U.S. peers. The fund tumbled 8.7 percent yesterday, the steepest drop on record and the most among more than 2,000 U.S.-domiciled funds tracked by Bloomberg with at least $1 billion under management. The fund, managed by Dori Levanoni and Jeppe Ladekarl, had its second-biggest short position in the franc at the end of November, according to the latest fact sheet on John Hancock’s website.

Hedge Funds Turn to Denmark After Swiss Move Jolts Markets (Bloomberg)
As investors and traders work out how to adjust their portfolios after the Swiss National Bank jettisoned its euro cap yesterday, interest is turning to another country with a euro peg. Danske Bank A/S says it has received several requests from hedge funds and offshore investors seeking to profit from the new climate through bets on Denmark. Though it’s a lost cause to speculate the Danes may abandon their euro peg, according to Danske, the bank is advising clients to gird for rate cuts into unprecedented negative territory.

U.S. Companies’ REIT Love Affairs Seen Breaking Investor Hearts (Bloomberg)
Forest City Enterprises Inc. (FCE.A), Windstream Holdings Inc. (WIN), and Sears Holdings Corp. (SHLD) shares surged and trading volume jumped on the days they announced plans to create real estate investment trusts. Such investor enthusiasm for REITs is helping persuade more companies to convert, or spin off their property into trusts, including some that have little in common with traditional types of real estate. In the past two years, nine companies have converted or spun off assets to create REITs, more than double the previous three years combined, and at least six are considering or planning to make the change, according to Green Street Advisors LLC.

It’s Official: Startup Funding Last Year Was Biggest Since 2000 (Bloomberg)
The money spigots for U.S. startups opened last year to their widest since the peak of the dot-com boom in 2000. Venture capitalists pumped $48.3 billion into U.S. startups in 2014, according to data today from the National Venture Capital Association and PricewaterhouseCoopers, the most since investors piled $105 billion into closely held companies in 2000. The 2014 total was up 61 percent from $30 billion in 2013 and was more than double the $20.4 billion invested in 2009.