Thursday, 2 October 2014
Last updated 16 hours ago
Jul 14 2010 | 12:20pm ET
Permal Asset Management has doubled its allocation to discretionary macro hedge funds and may do the same to Asian hedge funds.
The Legg Mason fund of hedge funds unit, which manages $21 billion, increased its discretionary macro allocation from 10% to 20% over the past year, CEO Isaac Souede told Bloomberg News. Permal’s stable of more than 30 funds of funds and managed account products have increased their bets on macro strategies by about 20% to $8 billion this year alone.
It may do the same for its Asia allocations, Souede said, increasing them from between 10% and 15% to between 20% and 25%. The firm launched a China fund in April, and already allocates assets to 43 Asia-focused hedge funds.
“The macroeconomic conditions were actually negative from the beginning of the year until about four weeks ago for Chinese equity markets and emerging markets,” Souede said. “Now Europe is in economic decline and China is close enough to a soft landing. Chinese markets will become more interesting.”
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...