Thursday, 18 December 2014
Last updated 7 hours ago
Jan 22 2007 | 5:33pm ET
Buoyed by a big year for its Verity Absolute Return Fund, New York-based Verity Capital has decided to merge its long-only fund into its Absolute Return fund, a long/short vehicle.
In a note to prospective investors, Verity called the two-year old Absolute Return fund “simply a superior product offering the up-side of our value-based equity selection with downside protection.”
The $12 million fund returned 18.34% last year, easily topping the Standard & Poor’s 500 Index, a feat all-too-infrequently achieved by hedge funds in 2006.
The Absolute Return fund invests in between 25 and 30 undervalued names, with a hedge utilizing shorted exchange-traded funds. The firms says it uses the same principles and metrics to evaluate both the long-only equity portion and to find the weakest market sectors in which to short ETFs. The fund has a $100,000 minimum investment requirement.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.