| 1000 hedge funds may sink in turmoil
UP TO 1000 hedge funds around the world could collapse as the industry consolidates, casualties of the rush of long-short equity funds that entered the market during the global bull run. HSBC's global head of hedge funds, Patrick Tuohy, said yesterday that the role of hedge funds had become greater in directing trade, as the market endured one of its greatest ever routs. He said the ease with which hedge funds were set up while the market was strong had created a number of players who would not survive the current downturn. "To be honest, we see this (consolidation) every 10 years and it's actually very, very healthy," Mr Tuohy said. "If you lose 500 or 1000 it's not really the end of the world because as the hedge fund universe has expanded one has to say there has been a dilution of the quality.
President's Proposal: Using College Model to Finance Private K-12 Education
As part of his administration's ongoing education initiative, President Bush has proposed a $300 million grant program intended to increase K-12 education funding and enable more low-income parents to send their children to private or faith-based schools. This proposed Pell Grants for Kids program would be modeled after the federal postsecondary Pell Grant program that currently provides funds for low-income college students. .
BWT Aktiengesellschaft / Financial Figures/Balance Sheet / BWT reports record results for 2007 and takes further steps ...
-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- annual report 28.03.2008 • Sales +9.8% to EUR 397.5 million • EBIT +7.9% to EUR 35.2 million • Net income +19.1% to EUR 26.4 million "Raw materials, energy and water, against the background of massive price increases, demand growth and the climate change, constitute imminent challenges - for us in BWT as well as the people on earth. Also in 2007, we have grown sales and earnings with innovative, compact water treatment systems in our market and prepared for further dynamic growth by making strategically important investments," says Andreas Weissenbacher, CEO of the BWT Group, commenting the year 2007 results.
Trafalgar targeted by Goldman Sachs fund
Investment bank Goldman Sachs is in talks to buy a significant stake in Trafalgar Asset Managers, one of London's top hedge funds.
News about hedge funds and private equityPetershill, a $500m (£252m) private equity fund within Goldman Sachs' asset management division, has been in on-and-off talks with Trafalgar since last year, said sources close to the matter. .
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