Wednesday, 22 October 2014
Last updated 59 min ago
Feb 6 2007 | 9:47am ET
Jersey-based Ermitage Group on Feb. 1 launched its European Multi Strategy Fund with over $30 million. The Caymans-based fund features both directional and arbitrage strategies, with allocations made to European event driven, fixed-income, equity long/short and volatility strategies, as well as commodity managers.
The fund is currently invested in 15 undisclosed managers and “aims to offer institutional investors access to a diversified source of alpha generating opportunities across Europe,” according to the firm. “With the EU expanding and maturing, European-based managers are well placed to take advantage of compelling valuations, increased M&A activity and market inefficiencies.”
The fund charges fees of 1.5/10 with a $100,000 minimum investment requirement. It is targeting annualized return of Libor plus 500 basis points and offers monthly subscriptions and redemptions with 90 days' notice required for redemptions.
Ermitage currently manages some $2.6 billion in total assets under management.
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 ...