The Hedge Funds Review annual fund of hedge funds awards have opened. This year the category list has been modified to reflect changes in the industry. Product awards include three best performing diversified FoHF over 10, three and one years, three best performing specialist FoHF over 10, three and one years, best performing energy/commodity FoHF, best performing leveraged FoHF, best performing in-house FoHF, best performing capital-protected FoHF and best performing new FoHF (launched after July 2, 2008) Read more...

The Hedge Funds Review annual fund of hedge funds awards have opened. This year the category list has been modified to reflect changes in the industry. Product awards include three best performing diversified FoHF over 10, three and one years, three best performing specialist FoHF over 10, three and one years, best performing energy/commodity FoHF, best performing leveraged FoHF, best performing in-house FoHF, best performing capital-protected FoHF and best performing new FoHF (launched after July 2, 2008) Read more...

The Man Investments seeding fund RMF Global Emerging Managers (RMF GEM) has completed a deal with Minerva Capital Management and its Minerva Macro Fund. RMF GEM will provide $50 million, the second incubation deal in as many months. Read more...

The Cayman Islands has moved onto the OECD White List' after signing its twelfth tax information exchange agreement (TIEA) with New Zealand in Washington. With this deal the Cayman Islands become compliant with international tax transparency standards and meet the OECD's minimum requirement set in April at the Group of 20 meeting in London. To be compliant with international tax transparency standards and show a commitment to the criteria, a country must have as least 12 TIEAs signed. Read more...

As hedge funds grapple with tighter budgets, reduced staff, increased demands from investors and proposed regulatory changes, the traditional hedge fund operating workflow is at risk. Funds face greater challenges than ever before. Many are being forced to weigh cost versus benefit when assessing how to maintain internal operations and technology. Read more...

Derivatives exchange NYSE Liffe and London-based clearing house LCH.Clearnet have shelved their central clearing service for credit default swaps (CDS). It has processed no trades since it was launched in December 2008. Read more...

The Bank of New York Mellon is to acquire Insight Investment Management from Lloyds Banking Group in a deal worth 235 million. With this acquisition BNY Mellon will have over $1 trillion in assets under management (AUM). The acquisition is expected to close in the fourth quarter of 2009. Read more...

The Hennessee Hedge Fund Index continued to outperform the S&P 500 in 2009 advancing 3.37% in July to take the index to a positive 15.50% year to date (YTD). The S&P 500 was up 7.41% in July bringing its total to 9.32% YTD. Hedge funds are also beating the Dow Jones Industrial Average which increased 8.58% in July, up 4.50% YTD, Read more...

The Credit Suisse/Tremont Hedge Fund Index is expected to end July up 2.35% based on 62% of assets reporting. The Hedge Fund Research series of hedge fund indexes also showed strong positive performances overall for July. Read more...

Thames River Capital will be launching two investment grade credit funds on October 1, 2009 targeting the US institutional market, according to sales director Edward Morse. The independent fund house, which manages $11.5 billion in alternative products, said the two funds would have a global remit although the main focus is expected to be on Europe. Read more...