Saturday, 29 August 2015
Last updated 14 hours ago
Dec 7 2010 | 1:05am ET
Quantitative Investment Management's second-half sprint came to a crashing halt in November with a big setback for the firm's flagship managed futures fund.
QIM's Quantitative Global Program dropped 1.89% last month, putting an abrupt end to the momentum it built up in October, when it rose 2.45% for its best month of the year. The $4.4 billion fund is now down 5.2% on the year, making it likely that 2010 will be QIM's first-ever losing year since the Global Program was launched in October 2003.
The Charlottesville, Va.-based firm blamed its long bet on the Hong Kong Hang Seng Index for November's losses, although energy, metals and interest rate bets also played a big role in the decline. Only the fund's agriculture investments produced a positive return in November.
The bad news is even worse for investors in QIM's triple-levered fund, which is now down 15.21% on the year.
The news, however, is not all bad. QIM's two-and-a-half-year old long/short equity fund, Quantitative Tactical Aggressive, put itself in position to enjoy its third-straight year of double-digit returns last month with a 0.81% estimated rise. The fund is up approximately 11.02% on the year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…