Tuesday, 5 May 2015
Last updated 8 hours ago
Mar 19 2010 | 10:18am ET
Fund of hedge funds shop Olympia Capital Management has launched a new vehicle that is part fund of funds, part hedge fund index.
The Olympia Dynamic Fund will invest half of its assets like a of fund of funds, picking between five and 10 managers to manage accounts for it. But the other half of its assets will be placed with a hedge fund tracker, making it much more liquid than a normal fund of funds.
“Investors were unhappy that in 2008 some funds of funds were not dynamic enough and not fast enough in cutting risk,” Guido Bollinger, chief investment officer, told Financial News.
The $3 billion firm will choose among global macro, managed futures, event-driven, credit and equity long/short hedge funds for its managed accounts portfolio, depending on the market environment. It will also be able to short the hedge fund index, as well as going long, depending on market conditions.
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…