Wednesday, 22 October 2014
Last updated 6 hours ago
Jun 9 2010 | 9:59am ET
Spain’s Cygnus Asset Management has launched an event-driven hedge fund.
The Madrid-based US$660 million firm’s Europa Event Driven Fund began trading with US$20 million at the beginning of the month, HFMWeek reports. The new fund debuted with money from existing investors.
New hire José Luis Pérez Esteve helms the new fund, which focuses on pre-announced mergers, relative value and spin-offs. Pérez Esteve joined the firm from London-based special situations hedge fund Shelter Island Capital Management. Cygnus plans to add an analyst and trader to the new fund’s team, as well.
The event-driven fund has a capacity of US$1 billion. There is a $1 million minimum investment requirement. The fund charges 2% for management and 20% for performance, and features monthly liquidity with 45 days’ notice. Goldman Sachs serves as its prime broker.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...