Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Prosecution Rests Galleon Trial, Hedge Funds Still Hurting From Financial Crisis, Ex-Trader Leads Hedge Fund to 200% Gain

Deal Lawyer Accused of Insider Trading Scheme (NYT)
As a lawyer at three of the most prestigious merger and acquisition law firms in the country, Matthew Kluger stood at the center of the deal-making universe for nearly two decades. Now, he stands accused of using his position to run an insider-trading scheme that earned more than $32 million. The reported plot relied on tactics ripped from a television drama, including disposable cellphones, code names and a plan to burn $175,000.


Many Hedge Funds Still Smarting From the Financial Crisis (NYT)
Last year, Kenneth C. Griffin, the founder of the hedge fund giant the Citadel Group, celebrated his second year of double-digit gains. But despite strong performance, Mr. Griffin has not climbed back from the losses endured during the financial crisis. Citadel’s flagship fund is still 15 percent below its peak, according to people with knowledge of the firm who were not authorized to speak publicly.

Prosecution Rests Its Case in Galleon Trial (NYT)
Raj Rajaratnam has his work cut out for him. After five weeks and 18 witnesses, the government rested its case on Wednesday against Mr. Rajaratnam, the hedge fund billionaire, setting the stage for the defense to begin its bid to keep their client out of prison.

Ex-Deutsche Bank Saba Prop Trader Leads Hedge Fund to 200% Gain (Bloomberg)
Prudence Enhanced Income Fund, led by former Deutsche Bank AG (DBK) Saba proprietary trader Chad Liu, returned 200 percent in two years trading credit and convertible bonds sold by Chinese companies internationally. The Hong Kong-based hedge fund, which started in January 2009, beat the Eurekahedge Asia Fixed Income Hedge Fund Index’s 35 percent gain in the same period. Assets increased to more than $250 million from $30 million, Liu, Prudence Investment Management’s chief investment officer, said in an interview yesterday.

Ucits Fund Assets Tripled to $90.5 Billion in 2010, Survey Finds (Bloomberg)
Ucits funds tripled assets to $90.5 billion last year as managers attracted clients seeking to put money into the more regulated and easier-to-trade alternatives to hedge funds.
Firms started 129 funds last year that comply with the European directive known by the acronym for Undertakings for Collective Investment in Transferable Securities, Hedge Fund Intelligence said in a statement today. The funds raised more than $9.5 billion, according to the London-based data provider.

RAB to repay 79 pct of Special Situations fund (Reuters)
RAB Capital (RAB.L) said the bulk of clients in its embattled Special Situations fund have opted to pull their cash out, as one of the most high-profile hedge fund casualties of the crisis lets investors exit.
RAB said on Wednesday it will repay 79 percent of the fund — which is infamous for buying into Northern Rock before the lender’s collapse and which fell 70 percent in 2008 — when a three-year lock-up ends in October.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.