Wednesday, 6 May 2015
Last updated 16 hours 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.
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…