Tuesday, 21 October 2014
Last updated 1 hour ago
Jun 2 2011 | 3:31pm ET
Citigroup has shuttered an internal quantitative hedge fund as the bank continues to slough off proprietary trading operations.
Citi closed its Quantitative Strategies fund in April, after naming fund manager Shakil Ahmed head of electronic market-making, Bloomberg News reports. The fund managed $400 million, all of it internal capital.
The bank did not disclose the fund's performance. Citi, like other banks, is in the process of coming into compliance with the Dodd-Frank financial regulation law, which bars proprietary trading.
Ahmed, who also serves as co-head of electronic trading, has been with Citi since 2008. He joined the firm from Morgan Stanley's quantitative prop. trading desk, the process-driven trading group.
Morgan Stanley is in the process of spinning off PDT as an independent hedge fund, a deal that show close by the end of next year.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...