Hedge Funds and CTAs

FrontPoint Partners has seen investors in its health care funds race for the doors in the wake of their link to an insider-trading case.

Clients have filed redemption requests totaling about half of the $750 million managed by the funds, which FrontPoint has admitted are among the unidentified hedge funds referred to in the case against Yves Benhamou. Benhamou was arrested last week and charged with passing on confidential information about the results of a drug trial to the funds.

Morgan Stanley was loathe to take a loss on its sale of a majority stake in FrontPoint Partners to the firm's management, but that's exactly what the bank is doing.

The hedge fund industry grew by 2.5% in September to reach $1.62 trillion, the most it has managed in six months.

Hedge funds added 1.34% in October as they attempt to finish an uneven 2010 on a strong note, according to the Dow Jones Credit Suisse Hedge Fund Index.

With his career as a hedge fund manager at an end and having served a prison sentence for soliciting prostitutes, Jeffrey Epstein has a lot more free time to devote to one of his other, legal passions: science.

Icahn Enterprises, the holding company owned by Carl Icahn's hedge fund, will sell $500 million in senior debt as part of a reopening as the company embarks on a hostile takeover of movie studio Lions Gate Entertainment.

Los Angeles-based Canyon Capital Advisors has raised $45 million for its new hedge fund, the Canyon Distressed Opportunity Fund, according to regulatory filings.

Both Pershing Square Capital Management and Third Point saw their flagships rise about 5% last month.

Hong Kong hedge fund Quam Asset Management has a new CEO and lead portfolio manager.

Quantitative Investment Management had its best month of the year in October, putting it in position to finish the year in the black with strong performances in the last two months of the year.