Thursday, 18 September 2014
Last updated 15 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.
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.