Hedge funds from Europe take a crack at self-policing

Article Abstract:

Hedge fund managers in the UK have drafted a proposal that would require more information be provided to banks and investors regarding risks hedge funds take, the manner in which their assets are valued, and disclosure of the stakes owned in companies. The self-regulatory proposal is aimed at mitigating the turmoil created by the credit market crisis.

United Kingdom, Product standards, safety, & recalls, Management dynamics, Standards, Management, Industry self-regulation, Industry self regulation, Company business management

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European stocks fall sharply as credit crunch fears grow

Article Abstract:

European stock exchanges continue to be negatively affected by weak credit markets. The U.K.'s FTSE 100 fell 4.1% to reach 5858.9, marking the first time it has dropped below 6000 in five months. The Dow Jones Stoxx 600 declined 3.6% to hit 352.37. Germany's DAX Index fell 2.4% to 7270.07, and France's CAC 40 decreased 3.3% to reach 5265.47.

Security and commodity exchanges, Labor Distribution by Employer, Stock-exchange, Stock exchanges, Statistics, Statistical data, FTSE (Index)

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In London, a mortgage-bond pioneer gets hit

Article Abstract:

One of London, England's largest and oldest hedge fund managers, Wharton Asset Management UK Ltd., has suspended until December 1 investor redemptions from its Y2K Finance Inc. fund and is no longer calculating net asset value. Wharton has been affected by the current turbulence in the credit market.

Services discontinued, Management investment, open-end, Mutual fund industry, Service discontinuation, Wharton Asset Management UK Ltd.

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