Sunday, 21 September 2014
Last updated 1 day ago
May 2 2007 | 12:01pm ET
3A, SYZ & CO Group’s hedge fund management division, recently launched the ACE Natural Resources Fund, a fund of funds focused on raw materials and natural resources. In its first five months of trading, the vehicle’s U.S. dollar share class is up some 3.25% and is currently managing some $32 million in assets.
ACE’s assets are invested in a number of hedge fund strategies, including long/short equity, macro, CTA and arbitrage, according to fund documents. The fund had a 55% allocation to long/short equity and a 39% allocation to the energy sector as of the end of March. Last month, the fund’s dollar share class gained 1.96%, “primarily by oily names on both sides of the Atlantic,” according to the firm’s monthly fund update.
“In particular, a position with a Scandinavian bias we initiated in March had a strong month. In the midstream sector, the MLP specialized manager continued to deliver strong returns. The metals focused managers, both commodity and equity oriented, also contributed to the overall positive result, with a Canadian manager leading the group.”
The ACE Natural Resources Fund requires a minimum investment of US$1,000 for share class A, US$10,000 for share class C and US$5 million for share class C. The first two share classes have a management fee of 1.5% and share class C of 1%. The performance fee is 7.5% for all share classes.
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.