Tuesday, 16 September 2014
Last updated 12 hours ago
Apr 14 2011 | 1:35am ET
Investors will have to wait a lot longer to pull their money from a Fauchier Partners fund of hedge funds.
The firm, which selects underlying funds for the $110 million Fidam Capital Growth Fund, said that, beginning at the end of the month, investors will have to provide three months’ notice to get their money back, instead of the current one. Fauchier said that the change was motivated by investors’ desire for the fund to take more risks and invest in less-liquid hedge funds.
“The board felt it would be better if there were a longer notice period for redemptions, which means that we as advisers could then offer a wider range of underlying investments,” Fauchier’s Christopher Fawcett told Reuters. Fauchier denied that the extended notice period had anything to do with March’s market volatility, saying that Fidam was essentially flat last month.
The Fidam board explained that the longer period could be waived “at the discretion of the board of directors provided the relevant sub-fund has sufficient liquid assets to accommodate the redemptions and a fair treatment of all investors is assured.”
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…
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