Tuesday, 23 September 2014
Last updated 4 hours ago
Mar 4 2010 | 6:46am ET
Quantitative hedge fund shop CQS is taking advantage of the uptick in interest in its specialty: convertible bonds.
The London-based firm, which manages US$6.7 billion, has raised US$750 million for its convertible bond strategies over the last six months, all of its from institutional investors. And the firm’s chief investment officer believes that money is just the beginning.
“I don’t think it’s a fad,” Oliver Dobbs told the Reuters Private Equity and Hedge Funds Summit. “These flows are likely to continue.”
More than one-third of the new money, US$270 million, went to CQS’ new long-only Convertible Opportunities Fund, which returned 11.62% last year after its debut in June.
Doubs said he expects this year to be a good one for convertibles, although it won’t likely be as good as last year, when the strategy, hard-hit in 2008, bounced back. But the convertibles market has stabilized, and pension funds have been pouring in to diversify their portfolios.
Most of the CQS inflow has come from European pension funds, Dobbs said.
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 McKitich, CIO of Petty 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…
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.