Monday, 6 July 2015
Last updated 6 hours 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.
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…