Monday, 28 July 2014
Last updated 58 min 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…