Tuesday, 26 May 2015
Last updated 3 days ago
Oct 4 2010 | 2:41am ET
Last year was not a fun time at Aspect Capital.
The hedge fund's quantitative flagship, Diversified Program, dropped 11.24% on the year. Assets under management dipped 17.4%. The former led to a 75% drop in performance fee income, the latter to a drop in management fees.
It all added up to a dismal 98% decrease in profits on the year at the London-based firm, according to regulatory filings.
"The sudden reversal of such well-established trends is typically the cause of short-term performance give-backs for our momentum-based strategy and the severity of these trend reversals mean that the second quarter of 2009 was particularly difficult for programs, such as Aspect Diversified, that are primarily driven by medium-term trend capture," the firm explained.
On the bright side, things appear to have turned around to some extent at Aspect. The firm, whose assets sank to US$3.57 billion last year, now manages about US$4 billion.
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…