Tuesday, 23 September 2014
Last updated 11 hours ago
Dec 18 2009 | 12:05pm ET
China’s currency regulator has named a Pacific Investment Management Co. hedge fund manager as its new chief investment officer.
Changhong Zhu will take up his post at the helm of the Reserve Management Dept. of China’s State Administration of Foreign Exchange in February, PIMCO said. SAFE manages $2.3 trillion, including the world’s largest foreign-exchange reserves. China owns nearly $800 billion in U.S. Treasuries.
Zhu has been at PIMCO for a decade, most recently managing its Absolute Return hedge fund strategies. He’ll be succeeded at the Newport Beach, Calif., firm by founder Bill Gross.
“While we are sad to see Changhong leave PIMCO, we are proud that his leadership and investment abilities are being recognized in his appointment to such an important role in his country,” Gross said in a statement.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.