Sunday, 29 March 2015
Last updated 1 day ago
Feb 16 2011 | 3:54am ET
D.E. Shaw & Co. will cut its fees by more than 16%, offering a break to investors who pay substantially more than the industry standard two and 20.
The New York-based firm, which manages $19 billion, will cut its management fee to 2.5% from 3% and its performance fee from 30% to 25%, Reuters reports. The move comes after D.E. Shaw disclosed returns of just 2.45% for its flagship last year, less than one-quarter the return of the average hedge fund.
The firm has also been aggressively cutting costs, laying off 150 people, or 10% of its total workforce. D.E. Shaw manages less than half of the $40 billion it ran at its peak in 2008.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…