Wednesday, 27 August 2014
Last updated 5 hours ago
Apr 8 2011 | 12:21pm ET
Last month's earthquake and tsunami in Japan stopped one hedge fund's hot streak cold.
Quantitative Investment Management, whose flagship Global Program had followed up its big 2010—it returned more than 15%—with two straight up months this year stumbled in March. The $5.2 billion commodity trading adviser fell 0.4%, cuttings its first-quarter return to 1.1%.
"The earthquake which rocked northern Japan on Friday, March 11, sent tremors through world financial markets," Charlottesville, Va.-based QIM wrote to investors. "The aftereffects of this catastrophe included the distinct possibility of a meltdown at the Fukushima Daiichi nuclear plant."
QIM said it had been long both Japanese equities and oil in the week leading up to the tragedy, and suffered in the two-day "plunge" that "was the worst in Japanese stocks since 1987." But the fund managed to bounce back, erasing most of its losses as Japanese stocks rebounded.
"It is with a heavy heart that QIM publishes this market commentary," the letter read. "The firm is fortunate to have many Japanese investors and our thoughts are with them as they recover from this tragedy."
QIM's two funds based on Global, 1x and 3x, were also down, 0.41% (up 1.17% YTD) and 1.25% (up 3.54% YTD). But its stock fund, Tactical Aggressive, bounced back from a down February to rise an estimated 3.21%; the $466 million fund is up 7.87% on the year.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...