Hedge Fund Jargon Decoded In New Glossary (Finalternatives)
The Managed Funds Association and Latham & Watkins are working together to demystify hedge funds—or at least the words associated with them. The MFA has set up a new website and smartphone application giving free access to Latham’s Book of Jargon–Hedge Funds. The glossary includes more than 900 terms common—and not-so-common—to the industry. “Covering deal terms from ‘A/B Exchange’ to ‘VWAP’ and more than 900 terms in between, we’re pleased to provide MFA’s members and the wider financial community with this interactive library of the A’s – Z’s of hedge fund jargon,” Latham hedge-fund task force co-chairman Christopher Clark said.
Hedge Fund Association announces 2014/2015 board election results (HedgeWeek)
HFA members in the US, Europe, Asia, Australia, Latin America and the Cayman Islands elected 15 leaders to work on behalf of the global hedge fund industry, including over 10,000 hedge funds in the US and abroad which collectively manage in excess of USD2.8trn in assets, institutional and high-net worth investors, and industry service providers. “I am honoured to continue to serve alongside Ron Geffner, David Friedland and all of the HFA’s new and returning board members,” says HFA president Mitch Ackles (pictured). “In the years ahead we will work together to produce frequent member networking programmes, advance our advocacy efforts with the media, lawmakers and regulators, and develop new initiatives to prepare future generations of industry professionals.”
Hedge fund managers cite cost and quality for moves (AssetServicingTimes)
Hedge fund managers are changing their service providers, particularly administrators and prime brokers, because of low-quality service and cost, a survey has found. Research and consultancy firm Preqin surveyed more than 100 fund managers at the end of 2013 to find out more about whether they had changed service providers and what had prompted the change. A third of all fund managers have changed a service provider in the past year, with European and North American fund managers being the most active in switching service providers in 2013.
Friedland: Hedge fund managers still confident of a bright 2014 (Opalesque)
The Bahamas-based Magnum BGM Select Opportunities Fund outperformed the S&P 500 despite posting a “moderate loss” in January but managers are still confident of a bright 2014. In its latest monthly report to investors, BGM Select portfolio manager Dion Friedland said the fund was down 0.44% in January. This compares favorably with the S&P which lost 3.56% and the Hedge Fund composite index which lost 0.77%. …BGM ended 2013 on a high note with 19.41% gains. The fund consistently generated positive results from September to December last year with 2.01%, 1.09%, 0.44%, and 1.26% profits in the last four months of last year.
Jim Rogers: Want to make money? Drive a tractor (MarketWatch)
Commodities guru Jim Rogers has a tip for the opportunity-hunters out there: Get back to the land. For the first time in a long time, the world has “very low inventories” of food products, Rogers told the BBC’s Simon Jack. Plus, there’s a shortage of farmers — and those we do have are getting older, with an average age in the U.S. of 58. Added together, that means there are good prospects in the field. …While the dapper money man may have been pulling Jack’s leg somewhat, his underlying message came through: There’s cash in crops.
‘Dr. Doom’ sees correction risk, not crash for Canadian housing (Yahoo)
Canada’s housing market is at risk of a meaningful correction, Nouriel Roubini said on Monday, though the economist known as “Dr. Doom” for his often gloomy forecasts said he was not predicting a crash. Roubini also said the value of the Canadian dollar is too strong, noting the challenge that poses to the manufacturing sector, and suggested the Bank of Canada should use more aggressive monetary policy to weaken the loonie.