GUEST COMMENT: Sanctions or no sanctions, Russian markets are rallying

By Jerome Booth, Chairman, New Sparta. It’s generally a good idea to buy cheap and sell high, not the other way round. On any fundamental value basis the Russian market is oversold – not least due to the relentlessly negative headlines in the Western press. Of course one shouldn’t try to catch falling knives.  But…

Soros Ready To Invest $1B In Ukraine If West Helps

Soros Ready To Invest $1B In Ukraine If West Helps

(Reuters) – George Soros is ready to invest $1 billion in Ukraine if Western countries help private investment there, and sees a 1 in 3 chance Greece will leave the euro, the billionaire financier told Austrian newspaper Der Standard. Soros has previously urged the West to step up aid to Ukraine, outlining steps toward a $50…

Hong Kong Hedge Funds Reach Record AUM

A new survey by the Hong Kong Securities and Futures Commission (SFC) shows that hedge funds there have amassed a record $120.9 billion in assets under management, eclipsing 2008’s prior peak of $90.1 billion. The report shows that as of the start of the fourth quarter of 2014, SFC-licensed managers indicated a growth in AUM…

MCAM Group appoints James Han as MD for Asia

Prior to joining MCAM, Han was Group Head of Private Placement Services at KTB Investment & Securities, one of South Korea’s largest independent investment banking and brokerage firms. Before that, he was a founding partner at Straight Wharf Capital Management, an Asian equity long/short hedge fund seeded by Julian Robertson’s Tiger Fund Management. Han’s career…

Carlyle Group Buys Sterling Resources’ Romanian Gas Fields

Carlyle International Energy Partners (CIEP) announced plans to purchase Sterling Resources’ Romanian gas fields. The news comes just a few days after the private equity fund announced it had raised $2.5 billion to purchase global energy assets. With the slump in oil prices hammering Sterling’s revenue streams, the deal allowed Carlyle to snap up at…

Northern Trust Promotes Burnett to Head of EMEA Hedge Fund Services

Northern Trust’s fast-growing hedge fund administration business has promoted David Burnett to head of Northern Trust Hedge Fund Services in Europe, Middle East and Africa (EMEA). Based in London, Burnett will lead Northern Trust Hedge Fund Services in EMEA, reporting to Peter Sanchez, global head of Northern Trust Hedge Fund Services, according to a press…

Marshall Wace has hired Citi’s ex-head of hedge fund trading

The former head of EMEA hedge fund trading at Citigroup, who left the bank to head up Evercore ISI’s European trading business in the summer of last year, has re-emerged at Marshall Wace. Charlie Mansour joined Marshall Wace earlier this month according to filings with the Financial Conduct Authority (FCA) after just five months at…

Morgan Stanley names new CFO

By Andrei Skvarsky. Morgan Stanley has named Jonathan Pruzan, co-head of the bank’s global financial institutions group in investment banking, as chief financial officer to replace Ruth Porat, who has been hired as finance chief by Google, according to various media reports.

MNI: Business sentiment in Russia up in March but recession may be there already

By Andrei Skvarsky. Regular surveys by Deutsche Boerse-owned research company MNI Indicators suggest that business sentiment in Russia bounced back in March after a protracted decline but that overall the Russian economy remains on a downward course, with the firm’s chief economist arguing it “may already be in recession”.

Armajaro Commodities PM Tilney Stepping Down

Armajaro Asset Management’s John Tilney is stepping down from the lead manager role of the company’s flagship Armajaro Commodities Fund. Tilney will become an advisor to the fund, according to media reports. His role will be assumed by Armajaro partner and fund co-manager Oliver Denny. Armajaro’s Commodity Fund is down 5.49% year to date, according…

Assets Surge For Top Emerging Managers

Emerging managers have their work cut out for them when it comes to attracting assets, but recent data shows the majority of the top new funds grew AUM last year. 74% of hedge funds on Hedgetracker’s Top Emerging Hedge Fund Managers list saw equity assets increase during the fourth quarter of 2014, while the group…