Friday, 24 October 2014
Last updated 3 hours ago
Jul 22 2010 | 2:08pm ET
Facing its first losing streak and the uncomfortable attention of being associated with the Goldman Sachs fraud case, Paulson & Co. is planning a regulated version of its flagship hedge fund for retail investors.
The New York-based firm plans to launch the UCITS III-compliant vehicle this year. While it will be domiciled in Europe and targeted at European retail investors, the new fund will be open to all investors.
Paulson is the latest hedge fund to jump on the UCITS bandwagon. Dozens of hedge funds—primarily those based in Europe—have launched UCITS-compliant funds in recent months to avoid being shut out of their home markets by proposed European Union alternative investments regulations. UCITS-compliant funds will be exempt from those rules, which remain under consideration by European lawmakers and national governments.
Paulson will launch the fund on Deutsche Bank’s UCITS platform.
UCITS-compliant hedge funds have attracted more than $100 billion. Paulson could use some of those inflows, as his firm has been hit with some uncharacteristic outflows as its flagship Advantage funds suffered a rough first half. Paulson, which manages $31 billion, plans to close the Advantage funds to new investments this summer.
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 ...