BlueBay Battered By Euro’s Decline As Assets, Inflows Fall

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.


In Depth

Will Liquid Alts’ Performance Sustain Future Asset Flows?

Aug 25 2014 | 10:34am ET

Liquid alternative investment funds saw the highest percentage of capital inflows...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.