Wednesday, 30 July 2014
Last updated 10 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…