Man Group Names Mercurio First Stock Portfolio Manager in Asia (Bloomberg)
Man Group Plc (EMG) hired its first Asia- based portfolio manager focused on stocks as the world’s biggest hedge fund moves to expand its investments in the region. David Mercurio has been appointed head of Asia Equity and co-head of Global Equity Strategies, London-based Man Group said in a statement today. Mercurio joins the London-based hedge fund from the Government of Singapore Investment Corp. sovereign wealth fund, where he was a senior portfolio manager.
Tyco to Split Into Three Companies (DealBook)
Tyco International said that it planned to split into three public companies, the latest business to announce a breakup to bolster growth. In the next year, the conglomerate is looking to cleave off its North American residential alarm system unit, its flow control group and its commercial security business into separate companies.
“I messed up,” Netflix CEO says (DealBook)
Netflix Co-founder and CEO Reed Hastings made a public apology in his blog Sunday after a customer outburst against a hike in prices. “I messed up,” Hastings said. “I owe everyone an explanation.” Hastings posted the mea culpa after a barrage of customer backlash that caused Netflix stock to plunge.
Hedge Fund Boxer Hall Says Gold to Extend Gains: Commodities (DealBook)
Gold, platinum and Brent oil will lead gains in commodities as investors seek to protect their assets and shortages emerge, according to Tony Hall, the hedge- fund manager who earned 33 percent for his clients this year. Gold may climb 21 percent to a record $2,200 an ounce by the end of 2011, platinum may gain 10 percent and Brent could rise 25 percent to $140 a barrel in six months, said the London- based chief investment officer of Duet Commodities Fund Ltd., which manages more than $100 million of assets. Its eight-month gain compares with a mean return of 0.6 percent across commodity hedge funds tracked by HedgeFund.net and beat larger rivals such as Clive Capital LLP and Fortress Commodities Offshore Fund Ltd.