Domestic Fund Formation It is a simple process to enter the hedge fund industry; practically anyone with $15k to $20k can start a hedge fund and forming a hedge fund gets easier every year.
Offshore Fund Formation An offshore hedge fund is simply a structure used by hedge fund managers as a way to attract offshore investors (non-U.S. citizens) or U.S. tax-exempt investors such as pension and endowment funds.
Today’s Headlines
Bloomberg:
  • NATO Urges Intact Ukraine as Russia Holds Military Drill. NATO made a plea for keeping post-revolutionary Ukraine in one piece as tensions mounted in the Crimea region and the Kremlin ordered a test of combat readiness of nearby Russian military units. Defense ministers of the 28-nation U.S.-led military alliance called for a “sovereign, independent and stable” Ukraine, emphasizing the “principle of inviolability of frontiers.” North Atlantic Treaty Organization Secretary General Anders Fogh Rasmussen said the warning was addressed “to whom it may concern.” Allied defense ministers issued the statement at a meeting in Brussels today after Interfax reported that Russian President Vladimir Putin ordered the military drills involving around 150,000 troops in Russia’s central and western military districts, including areas bordering Ukraine. 
  • Yatsenyuk Named Ukraine Prime Minister as Default Battle Looms. Arseniy Yatsenyuk was named Ukraine’s new prime minister, giving him responsibility for steering the country clear of default after the bloodiest events in the country’s post-World War II history. The announcement by Evehen Nishchuk, spokesman for the protest movement, was made to a packed Independence Square in Kiev today, the site of a three-month uprising that culminated in the overthrow of former President Viktor Yanukovych last week. Oleksandr Shlapak was named finance minister. Interim President Oleksandr Turchynov, standing on the same stage, said he expects parliament to approve the appointments tomorrow. 
  • European Stocks Decline From Highest Level in Six Years. European stocks fell from a six-year high as declines in banks including Credit Suisse Group AG outweighed better-than-forecast data on U.S. home purchases. Credit Suisse retreated 2.5 percent as a person familiar with the matter said U.S. regulators are investigating its accounting practices. Jeronimo Martins SGPS SA dropped 6.5 percent after reporting 2013 net income that missed predictions. Anheuser-Busch InBev NV rose 2.8 percent after the brewer posted earnings growth that exceeded estimates and predicted improvements in its largest markets. The Stoxx Europe 600 Index retreated 0.2 percent to 337.7 at the close of trading, paring earlier losses of as much as 0.6 percent.
  • Cattle Rise to Record With Hogs Gaining on Shrinking Meat Supply. Cattle futures rose to a record as ranchers struggle to boost the U.S. herd from a 63-year low, and hogs climbed to a 34-month high after a virus that kills piglets spread, spurring concerns that meat supplies will shrink. Beef output in the U.S., the world’s top producer, will fall 5.3 percent this year to 24.35 billion pounds (11.04 million metric tons), the lowest since 1994, the Department of Agriculture has forecast. At the start of this year, the cattle herd fell to 87.7 million head, the lowest since 1951, following drought and high feed costs. Porcine epidemic virus has killed more than 4 million pigs, according to an industry group.
  • WTI Crude Rises on Cushing Supplies. WTI for April delivery advanced 76 cents to settle at $102.59 a barrel on the New York Mercantile Exchange. Prices are up 5.2 percent this month and 11 percent in the past year. The volume of all futures traded was 18 percent below the 100-day average at 2:57 p.m.
  • IMF Staff Decry Income Equality in Report Backing Social Welfare. Economists at the International Monetary Fund, the global lender criticized for its fiscal austerity prescriptions, defended policies aimed at reducing income inequality in a study that showed they strengthen growth. According to the IMF research released today, income inequality shouldn’t be ignored because it may result in low and unsustainable growth. “Non-extreme” redistribution policies such as taxes and social programs make economic expansions more durable, the economists wrote. 
Fox News:
  • Greenpeace co-founder: No scientific proof humans are dominant cause of warming climate. A co-founder of Greenpeace told lawmakers there is no evidence man is contributing to climate change, and said he left the group when it became more interested in politics than the environment. Patrick Moore, a Canadian ecologist and business consultant who was a member of Greenpeace from 1971-86, told members of the Senate Environment and Public Works Committee environmental groups like the one he helped establish use faulty computer models and scare tactics in promoting claims man-made gases are heating up the planet.
MarketWatch:
CNBC: 
ZeroHedge:
Business Insider: 
Reuters:
  • Moody’s warns mortgage servicers may turn to offering risky loans. Credit rating agency Moody’s Corp warned that mortgage servicers such as Ocwen Financial Corp could be pushed into subprime lending as their core business comes under increased regulatory scrutiny. The rapid growth of mortgage servicers since the subprime crisis has drawn the attention of state and federal regulators who are concerned about the companies’ capacity to collect mortgage payments in large volumes.
  • Exports of US construction equipment fell 25 pct in 2013, AEM says. Foreign sales of U.S.-made construction equipment dropped sharply in 2013, snapping a three-year export surge that had been one of the bright spots in the country’s halting economic recovery, according to a report released on Wednesday by a leading industry trade group.The Association of Equipment Manufacturers said foreign sales of U.S.-made bulldozers, excavators, aerial work platforms and other big machines used by builders and miners fell 25 percent last year, pulled down by an especially acute decline in demand in the Asia-Pacific region
  • Global smartphone growth to fall sharply in 2014 – IDC. Growth in global smartphone shipments will fall sharply this year and keep slowing through 2018, with average prices dropping significantly as demand shifts to China and other developing countries, according to market research firm IDC. Annual growth in 2014 is expected to be 19.3 percent and then decline to 6.2 percent in 2018, IDC said in a report on Wednesday. That follows a 39.2 percent jump in 2013 when smartphone shipments topped 1 billion units for the first time. 
  • Mexico factory exports, consumer imports slip in January. Mexican factory exports fell in January for the fifth month in a row, while non-oil consumer imports also dipped, signaling further headwinds for a tepid economic recovery in Latin America’s No. 2 economy. Non-oil manufactured exports fell 1.78 percent in January compared with December, the national statistics agency said on Wednesday, signaling slack demand from the United States for local goods.
Southern Metropolis Daily:
  • Some Guangzhou, Shenzhen Banks Raise Mortgage Rates. Shanghai Pudong Development Bank, Huaxia Bank and China Guangfa Bank raised lending rate for first-home purchases by 10%-20% at their Shenzhen branches.

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