Thursday, 26 November 2015
Last updated 19 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.
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…