- Jim Rogers Sells Dollars, Plans to Short Treasuries
- Currency Funds Crushed on Dearth of Market Trends
- Reduced LBO Fees Mean 2% Disappears as Pensions Lament Losses
- Financial News: Managers Bow To Client Pressure Over Fees
- Andreessen raises $300m VC fund
Jim Rogers Sells Dollars, Plans to Short Treasuries – Bloomberg
The dollar and U.S. Treasuries are both likely to slide as soaring government debt in the world’s biggest economy undermines confidence in its assets, according to Jim Rogers, chairman of Rogers Holdings.
“The government is printing lots of money and borrowing even more; that’s not the basis for a sound currency,” he said in a telephone interview today from Singapore. “The idea that anybody would lend money to the U.S. government for 30 years at 3 or 4 or 5 or 6 percent interest is mind-boggling to me.”.
Rogers, the author of books including “Investment Biker” and “Adventure Capitalist”, said he holds fewer dollars than a year ago and plans to “short U.S. government bonds someday.”….
Currency Funds Crushed on Dearth of Market Trends – Bloomberg
FX Concepts Inc., the world’s largest currency hedge fund, says it lost 5.4 percent in this year’s first five months. John W. Henry & Co.’s foreign-exchange fund told investors it lost 2 percent, after 2008’s 76 percent gain, the best since its 1986 launching.
Both use computer models to spot currency trends and, along with other momentum chasers, are getting hammered by this year’s lack of clear direction as the markets are pulled in opposing directions. Deflationary pressure from the first global recession since World War II is being countered by the inflationary forces of record stimulus spending and currency printing across the globe….
Reduced LBO Fees Mean 2% Disappears as Pensions Lament Losses – Bloomberg
The 2 percent management fee that has been the industry benchmark for leveraged buyout funds since the 1970s is headed for extinction.
The California Public Employees’ Retirement System, the biggest U.S. public pension plan, AlpInvest Partners NV, Europe’s largest backer of private equity funds, and HarbourVest Partners LLC, which has more than $10 billion in LBO funds, are pressing firms to cut their rates….
Financial News: Managers Bow To Client Pressure Over Fees - Wall Street Journal
Asset managers are set to follow investment bankers in changing their pay and fee structures after coming under pressure to align their interests more closely with the interests of their clients.
A survey of 30 chief executives of U.K. asset management companies, prepared last month by research firm Investit, shows the leaders of mainstream and hedge fund management companies believe they must change the remuneration and fee structures used by their industry. One said: “We need to discourage people from leaving a trail of risk behind them.”….
Andreessen raises $300m VC fund – Financial Times
Marc Andreessen, co-founder of browser company Netscape, has raised $300m for a new venture capital fund in the midst of one of the leanest periods ever for the start-up financing business.
The strong backing for one of Silicon Valley’s best-known serial entrepreneurs and private “angel” investors reflects the intense competition among big investment institutions for a chance to get into some of the hottest internet and computing deals…..
Tags: Currencies, Fees, Hedge funds, Jim Rogers, LBO / MBO, Treasury Bonds, Venture Capital
