Monday, 20 October 2014
Last updated 2 min ago
May 31 2007 | 11:54am ET
In a trend that’s either disturbing or encouraging (or both), another big hedge fund says assets and profits are up, even though performance is down.
The Man Group—the world’s largest publicly-listed hedge fund—said that its flagship $18.5 billion AHL Diversified Program lost 4.8% in the fiscal year ending on March 31, driving performance fee income down 20%. But overall income soared 27%, driven by a 24% jump in assets under management, to $61.7 billion, and a consequent 34% rise in management fee income.
Total sales rose 75%, according to the firm, and it said it continues to attract massive amounts of new money, with some $3.5 billion pouring in over the past two months.
As for performance, Man made no promises. “It’s been a difficult year for trend followers, and therefore for AHL,” firm Chairman Harvey McGrath said in a conference call. Man said the group’s performance was badly hit by the market correction earlier this 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 ...