Tuesday, 27 January 2015
Last updated 13 hours ago
Feb 16 2007 | 12:52pm ET
Hedge fund managers take note: If you plan on losing 30% in a month, it helps to have tripled your clients’ money in the previous calendar year.
Metals-trading hedge fund Red Kite plummeted by about a third last month, battered by dropping copper prices. But the fund, which extended to 45 days the notice required to redeem investments in the wake of the loss, said in a statement today it hasn’t seen an avalanche of redemption requests.
“Our investor base, including all of our major investors, has given us strong support and encouragement for the future,” London- and New York-based RK Capital Management, which runs Red Kite, said. Investors had until yesterday to request withdrawals on March 31, and RK characterized the number of such requests as “insignificant.”
The bad news about January came after Red Kite posted a year of the ages in 2006, returning 188%.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…