New regulation threat to smaller hedge funds in Singapore (Fund News)
Singapore's $53bn hedge fund industry is set for a shakeout as the city-state's planned new regulations are expected to raise costs for many smaller funds, threatening their survival.
Hedge Funds consider legal action against Ireland (Fund News)
A group of US hedge funds is threatening to take legal action against the Irish government if it proceeds with plans to inflict losses of up to 100 per cent on €300m subordinated bonds they hold in Bank of Ireland.
Euro zone finance ministers agreed on Tuesday to increase the capacity of the European Financial Stability Facility (EFSF) bailout fund. Below is the full text of a statement from the EFSF:
More than £1bn is currently invested in these high-risk investments – also known as “death bonds” – and half of this is thought to be at risk, because of failing funds.
As a result the Financial Services Authority today issued robust new guidance, warning advisers not to promote these products to investors.
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