Hedge Fund News: Steven Cohen, Global X Top Guru Holdings Index ETF (GURU), WPX Energy Inc (WPX)

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…told TOI that the hedge fund would be investing about Rs 225 crore through equity and the remaining Rs 75 crore would be channelled through non-convertible %debentures.

Hampden Bank under pressure to sell from Dallas-based hedgefund Clover Partners (MassLive.com)
A Texas hedge fund firm is stepping up its efforts to put Hampden Bancorp, Inc. (NASDAQ:HBNK) on the block by trying to get two of its representatives on the Springfield banking company’s board of directors. With 6.5 percent of the company’s shares, Dallas-based hedge fund Clover Partners is the biggest institutional shareholder on Hampden’s roster, which also includes Boston-based Wellington Management and other industry heavyweights. Johnny Guerry, Clover’s managing partner, and Garold Base, CEO of Dallas-based Viewpoint Bank, were recently nominated for board membership by MHC Mutual Conversion Fund, a Clover general partner.

Hedge fund is trying to overthrow the board of Intrepid Mines (The Australian)
The Hong Kong-based hedge fund trying to overthrow the board of Intrepid Mines was in contact with the holders of the title for the big Tujuh Bukit copper and gold deposit in Indonesia before the Australian company’s staff were ordered offsite. Quantum Pacific managing director Greg Mazur said that he first contacted the group – led by Indonesian billionaire Edwin Soeryadjaya – last July. Mr Soeryadjaya has title to the deposit Intrepid previously thought it had rights to. This was after Intrepid announced to the market that new shareholders had joined its Indonesian minority partner but before Intrepid was forced offsite and the new shareholders had been made public.

Hedge-Fund Billionaire Uses Data Analysis to Guide Giving (Chronicle of Philanthropy)
The hedge-fund titan John Arnold and his wife, Laura, plan to spend most of their $4-billion fortune on efforts to better understand the foundation of major societal issues such as obesity, pension reform, and crime and find solutions, The Wall Street Journal writes in a profile of the couple and their giving approach. Mr. Arnold retired from the world of finance last year to focus on philanthropy. He and his wife ranked third on The Chronicle of Philanthropy’s list of top donors in 2012, giving away $423-million, most of it through their foundation.

Vcheck Global Protects Hedge Funds with Accredited Investor Reports (MarketWatch)
SEC Chairman Elisse Walter this week voiced concerns over potential increased investment losses by qualified but unsophisticated ‘accredited investors.’ Implementation of the JOBS Act, she said, would greatly increase the potential for fraud against recent retirees, among others. Walter recommends an overhaul of the accredited investor definition, as well as additional oversight and industry regulation. Vcheck Global’s due diligence processes are perfectly positioned to help fund managers prove to regulators that their investor clients have been properly vetted. By utilizing its thorough, time-tested, multi-layered investigative processes, Vcheck Global has been able to quickly and affordably give its clients more detail about the people they do business with and accept funds from.

BlueCrest credit hedge fund makes gains despite European short bias (Creditflux)
The BlueCrest Multi Strategy Credit put in a return of 3.1% for the first quarter, according to a listed feeder fund. This is slightly above the average performance for relative value credit hedge funds of 2.5%, according to the Creditflux index of this sector. BlueCrest’s fund made gains from tactical trading in US high yield, according to the statement. In Europe, the fund was positioned mostly on the short side, trading single names and indices. This strategy produced what it describes as “modest gains”, despite the sharp tightening in spreads during the first quarter.



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