Saturday, 25 April 2015
Last updated 15 hours ago
Jan 28 2010 | 1:47pm ET
Man Group’s flagship AHL strategy suffered its worst-ever year last year, and, so far, the new year is not proving any kinder.
AHL lost 3.57% last week, or more than US$700 million, the Financial Times reports. The $21.7 billion managed futures strategy booked a similarly large one-week loss less than two months ago, when it plummeted 4.3% in the first week of December.
That helped finish off a truly terrible year for AHL, which lost 16.9% in 2009, while the average hedge fund soared nearly 20%. It was the first-ever losing year for AHL, which managed to return 33.8% in 2008, when most hedge funds dropped by double-digits.
AHL, it should be noted, is used to such swings. The highly-volatile strategy averages one 4% weekly loss per year.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…