Wednesday, 30 July 2014
Last updated 27 min ago
Jul 21 2011 | 11:59am ET
Having trouble raising money for its hedge fund, Philadelphia Investment Partners has decided to turn it into a mutual fund.
The $15 million New Generation Fund, which has a capacity of $1 billion, is now an Investment Company Act of 1940 fund. New Jersey-based Philadelphia doesn't plan to change the global all-cap long/short fund's strategy, but will now have to use an options overlay for most of its shorting.
"We realized there wasn't really a product vehicle that was feasible for the majority of our clients," Joe Duncan, a portfolio manager, told HFMWeek.
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…