QIM Slammed In April

May 9 2011 | 1:03pm ET

A disastrous four days erased a strong start to April for Quantitative Investment Management and wiped out the commodity trading advisers' gains for the year.

The Charlottesville, Va.-based firm's flagship Quantitative Global Program roared out to a 3% jump in the first six days of April. But "profits were wiped out swiftly in four days of trading as the program was poorly positioned for a global de-risking following news that the severity of the Japanese nuclear crisis had been raised to the maximum level."

The $5.1 billion fund would up down 2.42% on the month, leaving it with a 1.35% loss through four months. The three-times levered version of the fund did, as expected, three times worse, dropping 7.1% to leave it down 3.8% on the year.

But that was modest compared to the beating taken by QIM's stock fund, the $468 million Tactical Aggressive Fund, which in the space of 30 days went from being the firm's best performer to its worst. The fund lost 10.97% in April, just shy of its maximum monthly drawdown, 11.49% last January, and is now down 3.97% on the year.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…