Sunday, 3 May 2015
Last updated 2 days ago
May 6 2011 | 12:27pm ET
Catastrophe risk hedge fund Nephila Capital took a big hit in March in the wake of the Japanese earthquake and tsunami—but not as big a hit as might have been expected.
The firm's Catastrophe fund lost 4.9% in March, MarketWatch reports, putting it down 5.5% on the year. The hedge fund lost 1.5% in February due in part to the smaller earthquake that devastated Christchurch, New Zealand, that month, and fell almost 16% following Hurricane Katrina in 2005.
Cat-bonds took big losses after the Japanese tragedy on March 11, which is believed to have killed more than 25,000 people and led to a crisis at a nuclear power plant in northern Japan. Nephila had 59% exposure to cat bonds about a year ago.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…