Hedge Fund Compensation Increasing Survey Finds Compensation Rising at Hedge Funds
Pay has continued to rise at hedge funds for managers and staff, according to a recent survey. Bonuses are increasing, despite 45% of the surveyed hedge funds reporting losses. Another interesting finding is that back office salaries are not improving as much as front office compensation. Those employees in the back office expect little to no increase in pay.
Last year's survey revealed an average... Read Full Story
Fund of Funds Survey Survey of Emerging Manager-Focused Fund of Funds A recent survey of eleven emerging manager-focused fund of funds revealed that managers are bullish on emerging and early stage funds and that respondents are willing to look at smaller funds with less than $50 million under management. Also good news for managers is that all of the respondents said they would consider both veteran and new managers. Here are the main findings of HFN's survey:
54% of the respondents... Read Full Story
Bronson Point Partners
Former SAC, Pequot Employees Launch New Fund
Yesterday, we noted the rise in start-ups (outpacing liquidations) and one such launch illustrates the changes in the hedge fund industry as two ex-employees at top funds start a new fund on their own. Two hedge fund professionals from different hedge fund firms plan to combine their experiences to open a new fund, Bronson Point Partners.
Larry Foley worked as a senior portfolio manager at SAC from 1994 until... Read Full Story
Australia Hedge Funds Returns Australia Hedge Funds Returns Up 1.9% in November
Australian hedge funds returned an average of almost 2% in November following a rally in equities. This shows a continued recovery of Australia's hedge fund industry after sharp losses in the recession. The Australian Fund Monitors Hedge Fund Index--which includes over 200 Australian hedge funds--shows a dramatic rise this year. Single funds in the index reported a 19.7% gain this year. You can learn more... Read Full Story
New York (HedgeCo.net)- The U.S. House of represntatives yesterday voted to more than double a tax on income earned by executives of private equity and venture capital firms including hedge funds. The bill treats compensation received by executives at private equity firms, hedge funds and venture capital firms as ordinary income and taxes it at a 35% rate.
House Republicans said the tax would discourage investors, but this is the second time House Democrats have won over their objections... Read Full Story
Hedge Fund Liquidations and Startups More Hedge Fund Start-Ups Than Liquidations
Some more encouraging news for the hedge fund industry: new hedge funds start-ups in the third quarter exceeded the number of liquidations. New hedge funds have not outnumbered liquidations since the worst of the recession last year. 224 new hedge funds were started and 190 funds were liquidated in Q3, making the estimated total number of hedge funds 6,775.
The revival of hedge funds comes as investors... Read Full Story
Two Trillion Assets
Hedge Fund Assets Reach Two Trillion Dollars Again
One strong indicator of the hedge fund industry's recover is the assets under management. In the wake of the financial crisis, hedge funds have passed a milestone of $2 trillion AUM, reportedly adding $26.3 billion just last month. This is still less than hedge funds managed before the crisis but this is still a testament to the swift recovery in the industry after being battered during the worst of the recession... Read Full Story
Reuters – It wasn’t too long ago big-time hedge fund managers like James Pallotta were erecting monuments to themselves. In Pallotta’s case, it was a $21 million Georgian-style mansion he built in 2007 in Weston, a leafy Boston suburb uncomfortable with such displays of wealth.
Yet Pallotta soon would become a symbol not of conspicuous consumption but of the dramatic comedown of a once seemingly indomitable industry. In July, Pallotta, a protege of hedge fund legend Paul Tudor Jones, said... Read Full Story
Hedge Funds EU Spain Hedge Funds to Negotiate with Spain over New EU Rules
UK hedge funds and private equity firms are being pressured by the government to negotiate with Spain on new EU regulations. Sweden is about to relinquish presidency of the European Union to Spain, which would give the Spanish finance ministry greater control over financial reforms and regulations. By working with Spain, hedge funds may be able to avoid unfavorable taxes and demands for greater transparency which... Read Full Story
Hedge Funds Charter Schools Hedge Fund Managers Financing US Charter Schools
The hedge fund industry always receives attention for frauds or scandals so it's nice to see a story today about hedge funds helping the US education system. Hedge funds are taking a big role in financing charter schools, which are tax-funded, independently-operated schools. These charter schools are seen as a potential cure for the American education system, which has been criticized for lagging behind other... Read Full Story
