News

A pair of major New York hedge funds bucked swooning markets and the marginal losses suffered by its average peers with positive performance last month.

Greenlight Capital and Och-Ziff Capital Management both padded their year-to-date returns in August, although the former did so much more than the latter. Greenlight rose 4.1% net of fees.

Assets under management aren’t the only things fleeing Gartmore Group.

Bank of New York Mellon has made its first foray into the Canadian advisory space with the acquisition of hedge fund and wealth adviser I(3) Advisors.

The financial crisis has taken its toll on Vanity Fair’s annual “New Establishment” rankings. And the list of the 100 most influential people is especially light on alternative investment honchos.

Hedge fund administrator JD Clark & Co. and its parent, UMB Fund Services, have a lot to crow about. The firm said it enjoyed a “surge” in new clients in the first half, and has added more than 50 new employees to help serve them.

Collard Capital Management yesterday launched a discretionary macro fund designed to offer investors a highly-liquid approach to the strategy.

Hedge fund veteran Colin Fenton has joined JPMorgan Chase to head its global commodities strategy.

Chinese regulators in July eased restrictions on asset managers’ trading of index futures, giving the green light to launch separately-managed account products aimed at high-net-worth investors. The first firm to walk through that new door will be E Fund Management, which plans to launch China’s first officially-registered hedge fund.

Two former Mizuho Securities proprietary traders and Japan hedge fund veterans have launched a hedge fund of their own.

On the day its acquisition of GLG Partners was approved by shareholders, the Man Group named GLG’s Emmanuel Roman as chief operating officer.