Word: secs
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
FUNDS OF HEDGE FUNDS. These vehicles reduce risk by owning slices of many kinds of hedge funds, from those focused on classic long-short strategies to ones that specialize in arbitrage, pairs trading or specific market sectors. Funds of funds not registered with the Securities and Exchange Commission (sec) are run much like straight hedge funds. Many have dropped their minimums to $250,000 or less. In this class, Aurora, P&A Diversified and Stellar Partners have each risen more than 50% over the past three years. One advantage with funds of funds is that they have access...
...latest wrinkle is funds of funds that are registered with the SEC. These are subject to stricter reporting and disclosure requirements and must have a board that looks out for shareholder interests. Investors must still meet the net-worth test, but the number of investors is unlimited. Minimums run as low as $25,000. The biggest player is UBS PaineWebber, which manages $3 billion like this. Similar funds are sold at banks and other firms. In addition to management and profit fees, they may carry sales charges...
...books, Temple told David Duncan, who supervised the account, to remove her name from a file memo that disagreed with Enron's characterization of a $1 billion loss as "non-recurring." Said prosecutor Andrew Weissman: "This is a perfect example of Arthur Andersen sanitizing the record so the SEC would have less information...
...billion of it coming due in the next 18 months--could be caught in a cash squeeze. Tyco announced last week that it may have to delay the IPO of its CIT financial division--which was expected to raise $5 billion in cash--because of concerns by the SEC...
AGGRESSIVE ACCOUNTING [Strong stench] Tyco has been accused of "spring-loading": padding earnings growth by acquiring companies after making them prepay expenses and forgo new revenue. The SEC found no wrongdoing...