Saturday, 20 December 2014
Last updated 16 hours ago
Jun 1 2011 | 8:14am ET
A pair of closed-end funds employing hedge fund strategies are on their last legs.Both BlackRock and Gottex Fund Management have proposed shuttering the funds, which have both traded at a consistent discount to net asset value.
BlackRock has proposed to wind up its BlackRock Absolute Equity fund, Morningstar reports. The fund debuted in 2008 and raised more than £160 million. But the fund's value has slumped by more than 20% and all three share classes currently trade at a roughly 10% discount.
Gottex's closed-end offering, Gottex Market Neutral Trust, has an even bigger problem, with a discount nearing 40%. So, like BlackRock, Gottex is offering to shutter the four-year-old fund and return the money to investors.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.