Thursday, 23 October 2014
Last updated 14 hours ago
Mar 15 2011 | 2:50am ET
With an unhappy hedge fund breathing down its neck, Alliance Trust said it will quit the private equity business.
The British investment firm said yesterday it would close its Alliance Trust Equity Partners, which has about £110 million in assets under management, over the next few months. "The Trust will look to wind down the exposure over the coming months in order to maximize the returns to the shareholders," the firm said.
Alliance Trust will focus on its Asset Management and Savings business following calls by hedge fund Laxey Partners for the firm to do more to boost its share price. The firm's p.e. business managed less than 4% of its total assets.
Laxey has pushed Alliance to institute discount control mechanisms, such as automatic share buy-back programs, to improve its share price.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...