Tuesday, 26 May 2015
Last updated 28 min ago
Mar 24 2011 | 11:04am ET
A team of AlphaShares managers has bought that firm’s institutional investment management business and formed a new entity, Baochuan Capital Management, to focus on investment opportunities in China. The value of the deal has not been disclosed.
AlphaShares cofounders Burton Malkiel (CIO) and Kevin Carter (CEO) will take up the same posts for Baochuan. Joining them in the new venture (whose name translates as “Treasure Boat”) will be Director of Research Mark Adams, Senior Portfolio Manager Jonathan Masse, and Director of Business Development Mark Wehrman.
The acquisition includes several institutional investment funds and strategies focused on China, including hedged, long-only and multi-strategy offerings.
AlphaShares will continue to create, license and manage investable indices for license as the basis for ETFs and other index-based products. Malkiel, Carter, Adams and Masse will remain on the AlphaShares Index Committee.
“This move allows both companies to focus on what they do best, with BaoCap managing investment portfolios for institutional investors and AlphaShares providing dedicated product development and support to index licences partnerships,” said Carter. “We are excited to move ahead with the new company and look forward to conintinuing to support the index business at AlphaShares.”
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…