The News Review:
- Qantas Cuts 90 Management Jobs in Bid to Streamline perations
- Asia hedge funds yearn for institutional love
- AGF Management 1Q Net Rev Fall n Continued Mkt Volatility
Qantas Cuts 90 Management Jobs in Bid to Streamline perations
Wall Street Journal
–>Qantas Cuts 90 Management Jobs in Bid to Streamline perations ArticleCommentsmore in. said Wednesday it will cut 90 senior-management positions across the airline as it streamlines operations offering further evidence that even relatively strong carriers are getting squeezed by the global financial crisis. Qantas has fared better than most big airlines over the past year thanks to Australia’s relatively robust economy limited competition in many markets and advantageous fuel-hedging policies. But competition is now increasing on some of its lucrative routes and Qantas faces a drop in.
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Asia hedge funds yearn for institutional love
Reuters
“The irony is the West is broke and we are sitting on cash but still there are very good people in Asia with fantastic experience starved for cash” said Lee who is also chief executive of Hong Kong-based SHK Fund Management. Following a year of record redemptions investors globally are sitting on $294 billion in cash with $82 billion of that likely to be re-invested in the next six months according to research from Deutsche Bank. Fullerton Fund Management a unit of Singapore state investors Temasek said on Monday it will allocate more money to hedge funds this year. Singapore has been active in developing a home-grown hedge fund industry. In the United States and Europe big institutions such as university endowments and retirement funds like Calpers are key sources of capital for hedge funds and private equity. Lee said AIMA which had 108 hedge fund members in Hong Kong at the end of 2008 intends to work with institutions in Hong Kong and China including life insurers and pension funds to raise their awareness of alternative investment managers. “It will take some time but they will come around to it.
AGF Management 1Q Net Rev Fall n Continued Mkt Volatility
Wall Street Journal
T–>AGF Management 1Q Net Rev Fall n Continued Mkt Volatility ArticleCommentsmore in. T) posted significantly lower first-quarter earnings and a 29% drop in revenue. The Toronto mutual-fund and investment-management company earned C$12.