Wednesday, 6 May 2015
Last updated 10 hours ago
May 4 2010 | 11:48am ET
BlackRock’s pioneering retail hedge fund has grown to more than £2 billion in assets, and that’s just fine with its management team.
The U.K. Absolute Alpha Fund debuted five years ago, believed to be the first major absolute return vehicle open to British retail investors. Since then, it’s up 49.5%, topping the FTSE All-Share Index with just a quarter of the volatility.
And despite concerns that the fund has grown too large, Absolute Alpha’s co-manager, Nick Osborne, said he isn’t concerned.
“The size is something we think about an awful lot,” he told the Financial Times. “But we feel very, very relaxed. We have a portfolio that is naturally diverse—especially within the short portfolio.”
What’s more, the fund is poised to grow even more: Osborne and his co-manager, Mark Lyttleton, are bullish on the British market and is between 15% and 20% net long, more than it has been in some time.
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…