Tuesday, 29 July 2014
Last updated 9 hours ago
Aug 19 2011 | 4:48am ET
Hedge funds' August woes—like August's stock market and other economic woes—are a transatlantic problem.
Several notable European hedge funds have put up the kind of losses seen in America by Paulson & Co., Maverick Capital Management and Pershing Square Capital Management—and some are suffering even worse months.
Henderson Global Investors, for one: It's European Absolute Return Fund plummeted 15.64% during the first five days of August, Financial News reports. The news for that fund's investors get worse, however, as the August rout has the vehicle down a Paulson-like 32.46% on the year.
London-based Horseman Capital isn't doing much better. Its flagship Global Fund shed 13.51% through Aug. 10, erasing its year-to-date gains and leaving it down 5.74% in 2011.
Ridley Park Capital and Egerton Capital also took very big, very early August hits. The former's Paragon Fund lost 7.85% through Aug. 5 and the latter's European Fund dropped 4.59% through the same day. Ridley Park's fund is now down an ugly 25.44% on the year; Egerton's is down 5.3%.
Industry giant Lansdowne Partners has a whole suite of headaches this month. Through Aug. 12, its U.K. Equity Fund is down 4.3% (down 15.8% year-to-date), its European Equity Fund is down 3.6% (down 9.4% YTD) and its Global Financials Fund is down 3.6% (down 12.5% YTD).
Fellow European heavyweight Marshall Wace Asset Management, by contrast, is having a splendid August. The firm's MW Global Opportunities Fund is up 7.36% through Tuesday, and 13.06% on the year.
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…