Thursday, 2 October 2014
Last updated 30 min ago
Jan 29 2010 | 10:41am ET
In another sign that things are returning to normal in the hedge fund industry, an increasing number of successful firms are closing their best funds to new investors.
The latest to make such a move is BlueCrest Capital Management, which will close its systematic quantitative BlueTrend fund at US$10 billion, Financial News reports. The fund currently manages US$9 billion of the London-based firm’s US$17.2 billion.
BlueCrest is the second top hedge fund to tell investors it will close a fund this week. Former GLG Partners star trader Philippe Jabre announced that he would close his Jabre Capital’s flagship Multi Strategy fund at US$2.5 billion.
The increase in recent closings—over the past three years, the proportion of hedge funds closed to new investment dropped to 13% from 17%, according to the Credit Suisse Tremont Index—is a sign that investors are beginning to pour assets back into the hedge fund industry, especially into those funds that have done well amidst the recent market crises. Many top funds reopened for the first time in years during the recession to replace billions in assets lost to redemptions and poor performance.
The BlueTrend fund soared 43% in 2008, a year in which the average hedge fund sank by double-digits. Last year, it posted a much more modest return of 4.3%.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...