Monday, 20 October 2014
Last updated 3 hours ago
Apr 27 2011 | 12:28pm ET
Asia has a new billion-dollar hedge fund.
The Macquarie Asian Alpha Fund now manages US$1.03 billion, Macquarie Group told investors in a letter. The asset growth makes the fund one of only a handful of such hedge funds in Asia—in January, there were only 29 Asian hedge funds with more than US$1 billion in assets under management.
"Being part of Australia's largest investment bank, we have a robust institutional infrastructure and investors take comfort from this in the post-Madoff world," portfolio manager Nick Bird told Reuters.
The Macquarie fund reached the milestone in less than 16 months; the fund managed only US$230 million in January 2010 and at the end of December, it still managed only US$576 million. But Macquarie has aggressively marketed the fund since it paid out about $500 million in redemptions in one month during the financial crisis.
The Asian Alpha fund uses a market-neutral long/short strategy, featuring a quantitative screening process to sift through more than 5,000 stocks.
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 ...