Tuesday, 23 September 2014
Last updated 1 hour ago
May 9 2007 | 12:46pm ET
Parag Patel, a former telecommunications analyst with hedge fund SAC Capital, last October launched the Indian Performance Fund, an equity long/short vehicle with a long-bias, with US$4 million. To date, the fund has returned 5% and is managing some US$5 million in assets.
Patel said he’s looking for deeply undervalued stocks in the smaller Indian companies because of its inefficiency. “I see more opportunities in small- and mid-cap stocks overseas than I do in the U.S. because it’s just a more inefficient market,” he said.
Some of Patel’s current core holdings include Panyam Cements and Mineral Industries, a cement manufacturing company located in Southern India. “Its shares are trading at less than 40% of replacement cost and the company has hired investment bankers to sell itself,” said Patel.
The fund is also investing in the IT services, food processing, manufacturing businesses, and media sectors. Patel currently employs an Indian national based in Chennai, India, as an analyst and plans to hire another analyst based in the same office this year.
Patel’s offering charges 1.5% for management and 20% for performance, with a US$500,000 minimum investment requirement.
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 McKitich, CIO of Petty 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…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.