HK billionaire family backs of RAB Deal

Hong Kong billionaire Choi family has supported the plan to obtain funds from the troubled hedge fund RAB Capital.

A source close to the London-based hedge fund RAB is happy to continue running the said funds which it intended to sell to Suhwah, conglomerate family, according to Choi's Financial Times.

The collapse of the deal came my rapeseed declining market losses and has no financial impact on hedge fund, even though RAB will need to review its plan to reduce the activity around one of its main resources, reported the Financial Times.

RAB has approximately $ 1 billion in assets under management.

Go to Financial Times article

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New rules for hedge funds, family offices

Hedge fund advisers will need to comply with new regulations that the Securities and Exchange Commission adopted new rules as part of the Government's desire for greater transparency from hedge fund industry in the Dodd-Frank financial reform bill.

Rules, approved by a 3-2 vote Wednesday, demanding that hedge fund companies as well as private investment advisors with assets under management of more than $ 150 million must register with the SEC.

They must also provide information on their activities including the amount of assets held by a special fund, types of investors in the Fund and Adviser services to the Fund.

But the rules comes with a caveat – they begin to not take effect until 30 March next year.

SEC Chairman Mary Schapiro hailed passage of the new regulations SEC after their passage.

"These rules fills an important gap in the regulatory landscape," Schapiro said in a statement.

The SEC also approved on Wednesday a new rule exempting "family Office" or entities established by wealthy investors to manage their personal portfolios from any regulation provided that they must be checked only by family members and advise clients only.

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Pershing Square UPS stake in Family Dollar

Pershing Square Capital Management has increased its share in one of the nation's largest discount retailer.

Bill Ackman hedge fund company now owns more than 10.8 million shares in the Family Dollar, or 8.9% stake, according to a Securities and Exchange Commission filing.

It makes the Pershing Square, the largest shareholder in Matthews, N.C.-based discount chain, overtaking Nelson Peltz Trian Fund Management 6.1 million shares.

Pershing Square relationship to Family Dollar is not new. A previous SEC filing in may indicated Pershing Square which owns 3.3 million shares on March 31.

Ackman also touted the benefits of investing in 7,000 store chain last month at the Ira Sohn investment conference last month, it is a successful company which "continues to include even in difficult economic environments," due to the geographical convenience and low overhead.

Nationwide chain produced 7.8 billion dollars in revenue in 2010, according to its annual economic report.

Type of economic success that attracts activist investor Ackman and Peltz, who made an unsolicited offer in March to buy the Family Dollar for $ 55 to $ 60 per share in cash. But the chain Peltzs offer rejected, and conducted a "poison pill" to discourage a takeover.

A Pershing Square spokeswoman declined to comment on whether increased effort.

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