Monday, 28 July 2014
Last updated 12 hours ago
Mar 30 2011 | 1:16pm ET
A technology hedge fund founded by a longtime former SAC Capital Advisors manager is no more.
Stefan Frank shuttered his FISAM Capital a few weeks ago after a single large investor moved to redeem. The New York-based firm, founded in November 2009, was managing less than $100 million.
Frank, who spent nearly a decade at SAC managing technology stocks, found it difficult to continue trading without the large investor's capital, Reuters reports.
FISAM is still unwinding its portfolio and returning money to investors.
FISAM has returned about 6% since it launched in December.
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…