Tuesday, 21 October 2014
Last updated 10 hours ago
Aug 11 2010 | 10:51am ET
Quantitative hedge fund firm CQS made a tidy profit betting on a credit market rally last month, and remains bullish on fixed-income.
The London-based firm, which manages US$7.5 billion, saw its flagship Direction Opportunities fund return 6.9% last month. CEO and fund manager Michael Hintze credits rising bond prices for the success of the fund, which is up 11% on the year.
“Markets had moved downwards and valuations were beginning to look more attractive in light of generally positive Q2 earnings,” he told Reuters.
CQS poured more money into both investment-grade and junk bonds over the past three to four weeks, he added. Hintze said that slow economic growth in the U.S. and Europe would keep interest rates down, encouraging new issuance.
“As markets have rallied, we’ve begun to take a little bit of credit risk off the table in financials and property, but we’re still positioned for a continued improvement in credit markets in the short term,” Oliver Dobbs, the firm’s chief investment officer, said.
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…
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 ...