Saturday, 20 September 2014
Last updated 15 hours ago
Sep 21 2010 | 8:52am ET
Citadel Investment Group may cut its fees and ease its redemption terms in an effort to attract investors to its flagship hedge funds.
The $11 billion Chicago-based firm does not charge a set management fee on its Kensington and Wellington funds, instead passing along all of its expenses, which have amounted to as much as 8% of assets. Generally, the fee amounts to between 4% and 6%, some three times the industry average.
Those fees may soon come in closer to that average, with Citadel mulling a fee cut. The firm, which suspended redemptions in 2008 after the funds lost 55%, may also ease its withdrawal policies. The funds currently feature quarterly redemptions, but some investors still face long lockups.
The funds have returned about 4% this year. They still must rise another 30% before they have recouped their losses, despite returning 62% last year.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.