Sunday, 29 March 2015
Last updated 1 day ago
Oct 1 2010 | 3:31am ET
Hedge fund investors were busy buying and selling stakes on the secondary market last month—busier than they have been all year, in fact.
According to Hedgebay, the hedge fund secondary market saw its highest trading volume of 2010 in August. Gated funds, and others with redemption restrictions, in particular were changing hands.
“The relative quiet in August allowed investors to refocus on cleaning their balance sheets, which in part explains the drop in average price from last month,” Hedgebay’s Elias Tueta said. “With much of the trading taking place in gated and suspended funds, investors are currently focused on making sure their portfolios are set for when the market resumes in earnest.”
“It is not certain at this stage whether trading patterns in these illiquid assets are being driven by investors’ fears or by other random market factors such as distribution,” Tueta added. What is certain is that, in spite of the increased activity, secondary hedge fund stakes continue to decline in value.
The average price on Hedgebay’s Secondary Market Index dropped for the third straight month in August, to 74% of net asset value. It’s Illiquid Asset Index took an even bigger hit, dropping 23 points to just 44% last month.
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…