Monday, 1 September 2014
Last updated 3 days 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.”
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 ...