Wednesday, 17 September 2014
Last updated 8 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The London Whale saga is a twist on the typical rogue trader story as the rogue trader recognized the error of his ways and was prepared to take his medicine but was instructed by superiors to “defe...