Thursday, 26 March 2015
Last updated 28 min ago
Sep 3 2010 | 1:16pm ET
August was a lost month for much of the hedge fund industry, but at least three firms didn’t wilt in the summer heat. Bernheim Dreyfus & Co., Lyford Group International and Quantitative Investment Management each posted above-average returns last month, and all boast at least one fund in their stable with stellar returns on the year.
New York-based Lyford’s Global Macro Fund jumped 3.7% last month. The $90 million portfolio is up 8% on the year.
Bernheim, based in Paris, saw its Enhanced Fund jump 2.93% in August to bring its euro-denominated share class to 16.61% on the year. The four-year-old event-driven and merger arbitrage specialist, which manages about US$100 million, credited growing corporate activity in the U.S. for its success this year.
“Growing activity in M&A and corporate activity in the U.S., and soon in Europe, is very interesting to us,” partner Amit Shabi told FINalternatives.
Bernheim’s Diva Synergy Fund also posted above-average returns in August, rising 1.06%. That portfolio is up 5.98% on the year.
Results were much more mixed for QIM. The firm boasted that its flagship Global Program enjoyed its “best month of 2010 in August,” with the $3.9 billion fund rising 1.38% on the month. But it is still down 6.05% on the year—and its three-times levered version is down an estimated 17.29% on the year.
But QIM does have one remarkable success story for 2010: it’s Tactical Aggressive Fund. The $553 million portfolio jumped an estimated 4.57% last month and is up an eye-catching 19.32% through the year’s first eight months.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…