3 Billionaire Interviews Every Investor Needs to See (Insider Monkey) Billionaire interviews: In today's financial blogosphere, it's not uncommon to hear prominent investors sounding off on the economy, their favorite stock picks, or why they hate Apple. Recently, three billionaires were voicing their opinions: Leon Cooperman, David Tepper and Julian Robertson.
HEDGE FUND INFLOWS “REMINISCENT OF PRE-CRISIS DAYS” (Funds-Europe) Net inflows into hedge funds in the year up to the end of September have exceeded $95 billion (€70 billion) - the highest level in five years. The amount of net new money flowing into hedge funds is “reminiscent of the pre-financial crisis days”, says Eurekahedge, a data provider that monitors flows. Total assets in the hedge fund industry now stand at $1.9 trillion, according to the firm, only 2% less than the highest ever level. Growth in October was due mainly to market growth, with a rise in the index of hedge funds tracked by Eurekahedge leading to about $3 billion in gains.
Stamos Buys Back Stakes From Merrill Lynch, Mets’ Wilpon (Bloomberg) Peter Stamos, the former McKinsey & Co. consultant who joined New York Mets co-owners Fred Wilpon and Saul Katz to start a hedge-fund firm in 2002, reacquired their stakes through a management buyout. Stamos Capital Partners LP bought back interests held by the two partners as well as Merrill Lynch & Co., the New York-based firm disclosed in a regulatory filing. Katz and Wilpon amassed a fortune by developing real estate through their Sterling Equities Inc., then invested much of the excess cash with Bernard Madoff and diversified their assets by providing seed capital to Stamos.
Azentus Hedge Fund Said to Return 11% Through September (SFGate) Azentus Global Opportunities Master Fund, run by former Goldman Sachs Group, Inc. (NYSE:GS) proprietary trader Morgan Sze, gained 11 percent in the first nine months after fees, said a person with knowledge of the matter. The $904 million Asia-focused global multistrategy fund, managed out of Hong Kong, has returned more than 4 percent since inception on April 1, 2011, said the person, who asked not to be identified as the information is private. Julie Chang, an investor relations officer at Azentus Capital Management Ltd. in Hong Kong, declined to comment on the fund.
Asian hedge funds shine in stellar month for industry (CNBC) In a stellar month for the hedge fund industry, Asian hedge funds outperformed, a report from alternative fund data provider Eurekahedge has showed. Asia ex-Japan hedge fund managers gained 2.81 percent in September and have outperformed the underlying markets for much of the past year by roughly 8 percent. The Eurekahedge Asia ex-Japan Hedge Fund Index was up 5.87 percent year-to-date in September, in contrast to the MSCI Asia-Pacific ex-Japan index, which fell 1.14 percent. By contrast, European Commodity Trading Advisors (CTA) or managed futures hedge funds witnessed their eighth consecutive month of negative returns, and were down 4.57 percent September year to date.