Tuesday, 13 October 2015
Last updated 19 hours ago
Apr 30 2010 | 11:31am ET
Citibank has yanked its investment from a hedge fund it helped seed.
The Wall Street giant has redeemed its investment from FiveT Capital, which has followed up a strong 2008—when most other hedge funds were losing double-digits—with 14 months of underperformance. Citibank pulled its allocation to the Swiss equity long/short fund earlier this year, HFMWeek reports.
Nor is Citi alone: FiveT’s clients withdrew half of their assets from the firm in February.
FiveT is down 11.28% this year through February, after losing 9.06% in 2009.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…