Hedge Fund News Wrap: Week Ending 12/19/14

(Reuters) – The Federal Reserve on Thursday gave banks more time to meet a provision in the Volcker rule that bans them from betting with their own money through investments in risky hedge and private equity funds.

The Fed had earlier announced the delay until 2017 for one type of funds, known as collateralized loan obligation (CLO), which banks use to shift the credit risk in leveraged loans off their balance sheet, and sell it to others.

Read the entire article at Reuters
More coverage: BBC News and Financial Times

Hedge Funds Gain $117 Billion In 2014

(HedgeCo) – Hedge funds are up 4.62% year-to-date, and based on preliminary returns reported by funds with daily liquidity, Eurekahedge expects the index to be broadly flat in December and finish in the 4% to 5% range for 2014.

The 2014 Eurekahedge Report also announced that the total AUM of the industry grew by $117 billion in 2014 – well below the levels seen in 2013 when industry assets grew by $240 billion. Net asset inflows for the year stand at $40.8 billion, one-third of the inflows recorded in 2013. Inflows for 1H 2014 stood at $75.8 billion while 2H 2014 has seen net outflows of $35 billion.

Read the entire article at HedgeCo
More coverage: ValueWalk and FINalternatives

Man Group to acquire Silvermine Capital Management

(HedgeWeek) – Man Group is to acquire Silvermine Capital Management, a Connecticut-based leveraged loan manager with USD3.8 billion of funds under management across nine active collateralised loan obligation (“CLO”) structures as of 30 November 2014.

The Acquisition is expected to complete in the first quarter of 2015, subject to certain approvals being obtained.

Read the entire article at HedgeWeek
More coverage: Bloomberg News and eFinancialNews