Thursday, 23 October 2014
Last updated 3 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.
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…
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