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25 July 2012 | FTSE Global Markets

Positive outlook for BofAML in the prime brokerage industry

BAML prime services: great expectations

 Bank of America Merrill Lynch (BAML) on the other hand is trailing this pack; with 84 mandates and $15.4bn in client assets; but it has prospects, evinced by the recent appointment as Paris-based hedge fund manager Bernheim, Dreyfus & Co’s second prime broker alongside Newedge


23 July 2012 | Hedge Fund Intelligence

Lionel Melka comments on the seeding of the Diva Synergy UCITS fund by Emergence

Major new French asset management platform Emergence gains pace with second seeding deal

“Investors have been very interested in the strategy, the team and the investment process, but due to restrictions of size they weren’t able to come in because they couldn’t account for more than 10% of the fund,” Lionel Melka said. “We’re hopeful that this will act as a catalyst.”

10 July 2012 | Reuters

Amit Shabi provides outlook for the hedge fund industry in France

Analysis: Hedge funds pin hopes on French revolution

 "More French assets are going to go to the hedge funds. It is inevitable," said Amit Shabi, co-founder of Bernheim Dreyfus, a fund that makes bets on whether mergers succeed or fail. "The only question is how long it takes. It may be one year or five."


29 June 2012 | Thomson Reuters

Amit Shabi comments on the Glencore - Xstrata deal

Hedge funds bet Glencore will raise bid for Xstrata

Amit Shabi, partner at Paris-based Bernheim, Dreyfus & Co, told Reuters his fund had reversed the typical merger arbitrage bet by shorting Xstrata and buying Glencore shares, but had sold the position a few weeks ago when the deal spread widened.


He said he is considering buying Xstrata and shorting Glencore, but has not put on the bet because finding Glencore shares to borrow is "almost impossible", while the cost makes the trade unattractive.


"We're checking the cost of borrowing every day," he said. If it falls to around 4 percent then he would make the trade.

 

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