Friday, 19 September 2014
Last updated 1 hour ago
Dec 17 2010 | 12:46am ET
A cautious Eclectica Asset Management missed out on last year's hedge fund rally—so its managers missed out on a big payday.
The London-based firm saw its profit fall almost 80% in the 12 months through March 31, since the firm collected no performance fees in 2009, when its flagship fund fell 8%. Eclectica's partners split just £1.7 million between them, compared to £8.6 million during the prior year.
The Eclectica Fund returned an impressive 32% in 2008, while the average hedge fund lost almost 20%.
Eclectica may miss out on performance fees again this year: The US$230 million fund is up just 5% this year, the Financial Times reports. It had been up 15% through August before taking a hit during the bond-market selloff.
"Our view is that the economic recovery is still very fragile," partner Tim Arengo-Jones told the FT.
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.