Tuesday, 28 April 2015
Last updated 16 hours ago
Aug 10 2010 | 11:34am ET
A combination of redemptions and poor performance cost the hedge fund industry $3.7 billion in June, according to a new report.
The industry lost 0.2% of its assets in June, thanks in part to a 1.1% performance decline that month. But investors were also to blame, according to TrimTabs Investment Research and BarclayHedge.
“Redemptions probably persisted through July, and they could pepper the remainder of the year,” BarclayHedge’s Sol Waksman said. “Even if performance hadn’t been poor in May and June, July is historically one of the worst months of the year for fund subscriptions, and seasonality will be working against inflows through December.”
“Safer” hedge funds actually took in money in June, with fixed-income funds enjoying a $1.4 billion inflow. Riskier strategies took the brunt of the outflows, with emerging markets alone losing $2.1 billion to redemptions. Funds of hedge funds did even worse, with a $4.6 billion outflow. Redemptions from funds of funds totaled $15.2 billion in the first half.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…