Monday, 20 October 2014
Last updated 9 hours ago
Apr 12 2011 | 4:54am ET
Technology hedge fund 7x7 Asset Management is reopening all of its funds to new investors after seeing its assets under management fall by more than a third over the past nine months.
The San Francisco-based firm said the move was designed to replace assets lost both to redemptions and poor performance this year; the firm’s Institutional Partners fund is down 3.69% through March.
“Several hedge funds have been getting redemptions recently and we want to stabilize it,” CFO William Chong told MarketWatch. The firm now manages $409 million, down from $642 million at the end of June 2010.
7x7’s hedge funds will reopen next month, firm founder Douglas Lee told investors in a letter yesterday. The same missive described March, when the Institutional fund lost 2.17%, as a “tough month” in which “a number of our long investments did not fully recover from the first-half sell-off.”
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. 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 ...