Monday, 30 November 2015
Last updated 2 days ago
Sep 20 2010 | 1:28am ET
Arsago Capital Management has just about hit rock-bottom, but the Swiss hedge fund manager hopes it has hit upon a strategy to bounce back.
The firm last week launched what it called the first UCITS III-compliant Latin America fund in Europe. The new fund is run in conjunction with GAM’s Swiss & Global Asset Management and LatinFinance, CEO Daniel Bittner told Reuters.
The new fund will manage between $23 million and $28 million, Bittner said.
He added that the firm may also launch a real-estate hedge fund.
The two new funds are a major change for Arsago, which has seen more than 80% of its assets disappear since the financial crisis. The firm, which once managed $1 billion, now manages about $190 million. At least three of the firm’s trading teams have left over the past two years and Arsago has shuttered its currency, fixed-income and quantitative funds. The firm was also burned by the collapse of Lehman Brothers, leaving some client assets frozen.
Arsago is still managing its flagship global macro fund, which returned 12.5% last year, despite the departure of trader Jans Stehman.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…