Tuesday, 21 October 2014
Last updated 21 min ago
Jan 27 2010 | 11:04am ET
Hedge funds giveth, and hedge funds taketh away.
Investcorp, the Bahraini-headquartered investment manager and the largest alternative asset manager in the Persian Gulf region, returned to profit in the second half of last year. The firm suffered its first-ever annual loss in its 2008-2009 fiscal year, burned by big losses in both its hedge fund and private equity units. Investcorp’s assets under management plummeted by more than half to less than US$4 billion.
But in the six months ended Dec. 31, Investcorp, which also has offices in London and New York, turned a US$60.2 million first fiscal half profit. In the first fiscal half of 2008, Investcorp suffered a US$511 million loss, on its way to a US$780.6 million annual loss. Alternative investments were a big part of that decline, with Investcorp’s hedge fund unit losing US$393 million and its p.e. arm losing US$288 million.
Now, it’s hedge fund unit isn’t just contributing to Investcorp’s profit; it is Investcorp’s profit. The firm’s hedge fund business posted $96.6 million in income in the first half, more than the entire firm’s profit during the period.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...