Liongate’s Mark Parsonson outlines the attraction of hedge funds (Investment Europe)
Mark Parsonson, executive director of Liongate Capital Management, says there are key advantages in the hedge fund approach, which make them an attractive capital allocation option. Global monetary policy has succeeded in creating asset price inflation by distorting the productive capital allocation function of markets. Against a backdrop of weak economic growth, markets have benefitted from the unprecedented expansion in global liquidity. Long-term equity valuation measures, such as Tobin’s q and CAPE – indicate over-valuation. Nominal bond yields have declined to levels for which there are few, if any, historical precedents.
Karvy Capital’s hedge fund eyes Rs 100 cr by mid-August (Economic Times)
Karvy Capital, part of financial services group Karvy, today said it expects to attract inflows of about Rs 100 crore from high networth entities for its newly launched hedge fund. The asset management company has come out with ‘Systematic Edge Fund’ that would target high networth individuals and select institutions. “We aim to raise about Rs 100 crore for this fund by mid-August. This fund would be a multi-strategy absolute returns hedge fund and would ensure low volatility,” Hrishikesh Parandekar, CEO and Group Head for Broking, Wealth Management and Asset Management, said here.
Argentina Blasts Elliott Over Iran Criticism (FINalternatives)
The battle between Argentina and its hedge-fund creditors has taken yet another nasty turn. Argentina is furious over a recent media campaign in the U.S.—reportedly paid for by Elliott Associates affiliate NML Capital—criticizing the country’s relationship with Iran. At issue is the January memorandum of understanding between the two countries to investigate the 1994 bombing of a Jewish center in Buenos Aires, which Argentina has blamed on the Iranian government.
Firebird Co-Founder Lists ‘Buddhist-Inspired’ Princeton House (FINalternatives)
A hedge-fund-manager-turned-philosophy-teacher is selling his Buddhist-inspired New Jersey home. Firebird Fund Management co-founder Daniel Cloud has listed the nine-acre Princeton property for $3.575 million, a discount to the $3.7 million he paid for it in 2007. Currently a philosophy lecturer at Princeton University, Cloud told The Wall Street Journal that the 7,000-square-foot home was simply “too much house for one person.”