Saturday, 22 November 2014
Last updated 1 day ago
Sep 24 2007 | 12:14pm ET
Last week, Florian Homm assured Absolute Capital Management shareholders and clients that he would “continue to fight for shareholder value” in spite of his shock departure from the firm. He may well do so, but his voice has become considerably less important.
Homm—who, in his resignation letter, touted his status as “the largest single shareholder in ACMH”—unloaded more than 75% of his shares on Andreas Rialis, whose Argo debt fund management firm is to merge with ACM. The sale of 10 million ACM shares for just £0.325 a piece—a more than 30% discount—leaves Homm with just a 4.77% stake in the firm he founded. Homm’s investment vehicle, CSI Asset Management, had owned nearly 20% of ACM.
ACM’s share price plummeted more than 80% after Homm’s resignation, leading some to suggest that Rialis would try to back out of the ACM merger.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...