Tuesday, 21 October 2014
Last updated 3 hours ago
Jul 19 2010 | 12:05pm ET
London hedge fund BlueBay Asset Management said its fiscal fourth quarter would disappoint after its assets under management dropped more than 7% over the last three months.
The firm said its assets dropped 7.2% to US$34.4 billion at the end of June. BlueBay did see continued net inflows, but they totaled just US$300 million—a small fraction of the US$3 billion the firm had averaged in the last four quarters. BlueBay blamed its asset drop on the euro’s decline against the U.S. dollar.
“Raised levels of market volatility and reduced investor risk appetite made the final quarter of the financial year a more challenging one than its predecessors,” CEO Hugh Willis said.
Despite the poor showing BlueBay said it was confident about the current fiscal year, which started this month. As for the fiscal year that just ended, BlueBay predicted pre-tax profits of about £50 million, nearly triple its fiscal 2009 profit, although that year included the dismal end of calendar year 2008.
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…
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 ...