Thursday, 2 October 2014
Last updated 15 hours ago
Aug 6 2010 | 11:07am ET
Hedge fund administrator GlobeOp Financial Services swung back to profit in the second half on higher revenue and a 10% increase in assets under administration.
The firm reported a $19.9 million pretax profit and $12.8 million net profit for the first six months of the year. In the first half of last year, GlobeOp suffered a $19.7 million net loss.
“We believe we are well-positioned for a successful 2010 and we are in line with external expectations for the year,” CEO Hans Hufschmid said.
Hufschmid said that its 190 clients saw subscriptions rise 150% in the first half, while redemptions have fallen by half. Inflows continued to top outflows in July, with more than $5 billion of the former and less than $4 billion of the latter.
GlobeOp said it administered $120 billion at the end of the first half. At least another $15 billion is coming in the second half, thanks to new client European Credit Management.
Revenue at the firm rose 13% to $89.4 million.
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...