Buy Side Eyes Korea as Regulatory Barriers to Entry Fall (WatersTechnology)
Despite relaxed rules, the South Korean marketplace has proven a tough nut to crack. Vendors are still looking for ways to break into the country at a time when the hedge fund space is growing—even if that growth is slower than expected. When regulators in South Korea eased restrictions on the launching of, and investing in, hedge funds, it was hoped that this would provide a windfall of investment into the emerging market. While growth has been slower than expected—amid calls for further regulatory intervention—these new rules are clearly having an effect.
Judaica collection owned by ex-hedge fund manager Michael Steinhardt coming to NYC auction (TheProvince)
Philanthropist and former Wall Street money manager Michael Steinhardt began collecting objects of Jewish history and culture three decades ago, eventually amassing a collection of manuscripts, textiles and art worth millions of dollars. Now, the 72-year-old wants to sell his more than 500-piece collection so others can enjoy it. Sotheby’s will auction the collection in New York on April 29 after also exhibiting it in Moscow and Jerusalem and offering special presentations in Hong Kong, Singapore, Brazil and several European and U.S. cities.
Twin Capital Management CEO David Simon Provides 2013 Market Predictions (EON)
David Simon, CEO of Twin Capital Management LLC, an event-driven hedge fund firm, offered his insight on the trends he expects will take place in the coming year. His predictions are based on more than 25 years of experience as an investor. …”For 2013, given the looming standoff in U.S. Congress regarding resolution of the fiscal deficit, corporate CEOs will sit on the sidelines until there is certainty in government spending and taxes. If and when some real decisions are made, expect to see a robust event and deal environment for the remainder of the year,” said Mr. Simon.
Mason Capital cuts its Telus stake down to 3.4% (TheGlobeAndMail)
The long-standing battle between Mason Capital and TELUS Corporation (NYSE:TU) over the telecom’s dual share structure took another twist Thursday with the disclosure that the New York-based hedge fund had sharply reduced its holdings. Mason, in a mandatory disclosure document filed with regulators, said it has reduced its common (voting) share holdings to just over 5.9 million shares. …“This confirms Mason Capital has sold down its empty voting position in TELUS, selling off 26.9 million of the 32.8 million common shares they held when they last reported, while similarly reducing its short trading position,” Telus chief corporate officer Josh Blair said in a statement Thursday night.
Hedge giant Citadel soars to 25pc return (CityAM)
HEDGE fund giant Citadel, one of the biggest investors in the world, continued its winning streak last year after revealing a 25 per cent return for its main funds in 2012. Citadel, led by founder and chief executive Ken Griffin, told investors it had been one of the firm’s strongest years of performance, after it surpassed the six per cent average return delivered across the rest of the industry.
Soros builds stake in UK’s “tortoise” developer (Reuters)
Billionaire investor George Soros has built a stake of more than 5 percent in the UK’s only listed property company that produced a negative total return in 2012, due to its unfashionable bet on the long-term health of the economy outside London. The man who made his name and a reported 1 billion pounds ($1.6 billion) by betting Britain would leave the European Exchange Rate Mechanism in 1992, bought the stake in Development Securities through his Quantum fund.
