Wednesday, 30 July 2014
Last updated 13 hours ago
Feb 3 2011 | 12:04pm ET
At the beginning of November, Yorkville Advisors was poised to continue its unbroken streak of positive annual returns. But the firm's flagship closed out 2010 with its two biggest monthly losses ever, leaving it not only with its first-ever full-year loss, but with a big loss, to boot.
The YA Global Investments Fund I dropped 5.25% in November and 26.9% in December to end the year down 33%, Forbes reports. All told, Yorkville suffered losses in 10 months last year, a startling turnaround for a firm which had only posted nine losing months in the previous nine years, all of them in 2008 and 2009.
The average hedge fund rose about 10% last year, thanks in no small part to a strong December for the broader stock markets.
Jersey City, N.J.-based Yorkville's year-end disaster caps a year in which it revealed it was subpoenaed by the Securities and Exchange Commission last year, and then had to fend off media attention for its receipt of $233 million in government bailout funds.
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…