What Are The Odds Against Blair Picking A Winner? The gunbattles on the streets of Gaza yesterday did nothing to make the purpose of Tony Blair’s whirlwind trip to the Middle East any clearer. Other than to support his claims of crisis, that is, but ... Read Full Article Putin Protégé Secures Election Victory His election choreographed by the Kremlin, Dmitri A. Medvedev secured a predictably commanding victory on Sunday to become Russia’s next president.... Read Full Article Secret Deal Could Be Blueprint For Future Secret negotiations between Israel and even its most fierce adversaries have been a feature of Middle East diplomacy ever since the Oslo talks in the early 1990s paved the way for the first Israeli-Pa... Read Full Article Investing: Don?t Mind That Misnomer: It’s Got Yield Yields of Treasury bonds have fallen, and yields on junk bonds have been at historically low levels for years. What’s a yield-hungry investor to do?... Read Full Article Copper Merger Is Approved Freeport-McMoRan Copper and Gold’s $25.9 billion acquisition of a rival, Phelps Dodge, was approved by shareholders of both companies.... Read Full Article |
First Figures From US Activist Fund, Knight VinkeEric Knight, head of the shareholder activist Knight Vinke, has released performance figures for the first time. His decision to publish the figures to mark his fund’s fifth anniversary comes in the middle of a campaign against HSBC, one of the world’s biggest banks. Since the fund’s inception, the long-term track record to December last year has been 20% annual compound growth when measured in euros. This includes growth last year of 0.4%. Knight Vinke specialises in building stakes in international energy companies and then campaigning for change to release value for investors. Although its latest target is HSBC, the fund’s biggest holding is a $1.5 billion (£760m) stake in an Italian energy group. Unlike a hedge fund, Knight Vinke does not use leverage. Eric Knight said the strategy had proved successful and in the past year it had seen its funds under management grow from $750m to $3.5 billion. His ambitious target is to grow this by 10 times over the next decade. The fund manager also has the support of his biggest investor, Calpers. Dennis Johnson, head of Calpers’s corporate-gov-ernance programme, said: “We value our relationship with Knight Vinke and look forward to sustaining the success we have enjoyed together since the inception of our relationship.” Tag CloudExternal InformationAdditional InformationDodd Expresses Confidence in Fed...BP’s Chief to Join Apax, a Private Firm... When Ownership of a Home Turns Negative... Plane Crash Kills Hedge Fund Manager... Where Am I?News Main Page - Business - First Figures From US Activist Fund, Knight Vinke |
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