Scotiabank Canadian Hedge Fund Index down 1.80 per cent in April (HedgeWeek)
The Scotiabank Canadian Hedge Fund Index ended April 2013 down 1.80 per cent on an asset weighted basis and 0.70 per cent on an equal weighted basis. The aim of the Scotiabank Canadian Hedge Fund Index is to provide a comprehensive overview of the Canadian Hedge Fund universe. To achieve this, index returns are calculated using both an equal weighting and an asset-based weighting of the funds. The index includes both open and closed funds with a minimum AUM of CAD15m and at least a 12 month track record of returns, managed by Canadian-domiciled hedge fund managers.
JOBS ACT: what will change and what won’t? (Forbes)
10 days ago, the House passed a bill to establish a deadline of October 31st this year for the implementation of the Jumpstart Our Business Startups (or JOBS) Act. When the JOBS Act passed last spring, requiring American regulators to relax restrictions on hedge fund advertising, the reaction from the marketing community was nearly instantaneous. A thousand white papers proclaimed that this would change ‘everything’ in how hedge funds marketed themselves. Predictions of Times Square billboards and hedge fund branded sports stadiums swirled around the Internet. But as the changes come closer to implementation, the alternative asset management industry needs to think carefully about what will fundamentally change and what may stay pretty much the same.
It Doesn’t Pay to Pile Into Hedge-Fund Favorites (InvestorPlace)
Each quarter, the release of hedge funds’ regulatory filings regarding their current holdings unleashes a wave of media coverage about what the “smart money” is doing. But while this makes for moderately interesting reading, the real question is whether these reports are actionable for individual investors. If recent data is any indication, the future success of hedge funds’ largest holdings is essentially a crap shoot. Goldman Sachs Group, Inc. (NYSE:GS) aggregates hedge funds’ holdings into what it calls its “Very Important Positions List,” or VIP List. The list is released each quarter late in the second month, and it shows hedge funds’ favorite stocks as of the previous quarter-end.
Hedge fund boss Baha sees gold at $3,000-$5,000 (Reuters)
Christian Baha, the head of Austrian fund firm Superfund and representative of the hedge fund industry in Oliver Stone movie Wall Street 2: Money Never Sleeps, is predicting that the gold price could rise to between $3,000 and $5,000 over the next five to 10 years. Baha, who says he has more than half his personal wealth in gold and silver, either physically or in units in Superfund funds denominated in the precious metals, believes that an unprecedented phase of quantitative easing by central banks is driving a bubble in government bonds, but that gold offers real value.
Gold price correction was long overdue: Jim Rogers (ET)
Gold price correction was long overdue and I am not buying or selling the precious metal right now, said Jim Rogers, Chairman of Rogers Holdings. “I will buy gold if prices come down,” Rogers told ET Now. According to Rogers, investors are now getting out of physical gold. “I suggest buying into crude if prices fall sharply,” Rogers said. Within the commodity space, Rogers is bullish on nickel, lead in base metals. Rogers expects the Federal Reserve to keep interest rates low till 2015 and sees the US economy facing problems some time later owing to these low rates.
