Monday, 20 October 2014
Last updated 3 hours ago
Jun 16 2011 | 12:03pm ET
CQS will close its mortgage-backed securities hedge fund to new investors when its assets under management hit US$2 billion, the firm said.
London-based CQS told investors in the CQS ABS Fund, which has annualized returns of about 35%, that the soft-close was necessary to "carefully and thoughtfully" manage the fund. The fund, launched five years ago, currently manages US$1.6 billion.
Until that time, inflows will be "managed" on a monthly basis, fund manager Alistair Lumsden wrote.
CQS' flagship Directional Opportunities Fund is already closed to new money. The firm's total assets have almost doubled over the past year-and-a-half; it now manages about US$11 billion.
The closure of the fund, first reported by the Financial Times, was delayed to allow pension funds currently conducting due diligence to get in before the doors close.
"We are fully cognisant of the amount of time investors need to complete their due diligence and we are ensuring with our soft close process that all clients receive adequate notice," Lumsden wrote.
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 ...