Sunday, 19 April 2015
Last updated 19 hours ago
May 16 2011 | 12:39pm ET
German hedge fund manager Aquila Capital has launched what it calls one of the first managed futures funds offering daily liquidity.
The AC Spectrum Fund, which debuted earlier this month with €75 million, will invest only 10% of its assets in swaps—a provision that allows it to give investors an out everyday.
The fund was designed by risk management expert and new Aquila hire Harry Kat, who told the Financial Times that he "spent the past three-and-a-half years concentrating on it."
Kat, a former professor at London's Cass Business School, added, "I have given up teaching. This is much more fun."
In addition to its swaps bets on commodities, the Spectrum Fund employs carry and correlation strategies. The fund invests exclusively in the "most liquid futures contracts," manager Jan Auspurg said.
"We didn't see any reason why we shouldn't offer daily liquidity."
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…