Tuesday, 23 September 2014
Last updated 2 hours ago
Aug 25 2011 | 12:54am ET
Managed futures hedge funds are making out quite nicely amidst the market carnage this month.
"Black box" funds are up 4.2% this month, Hedge Fund Research data shows, almost a mirror image of the average hedge fund, which is down 4% on the month.
The biggest of the black boxes, Man Group's flagship AHL strategy, is a case in point: The strategy was up 4.3% in the week ended Monday, bringing the US$23.9 billion fund breathlessly close—it needs an additional return of just 0.3%—to reaching its performance fee hurdle.
"These are the environments in which we're expected to perform," AHL manager Harry Skaliotis told Reuters.
Others are also doing well, including Winton Capital Management's flagship, up 2.2% in August and 7% on the year, and SMN Investment Services' Diversified Futures Fund, which is up 13.7% this month.
Even the losing managed futures funds are beating their average peer. BlueCrest Capital Management's Bluetrend Fund is down just 1.7% this month, leaving it up 4.2% on the 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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.