Wednesday, 1 October 2014
Last updated 14 min ago
Sep 15 2011 | 3:40am ET
A former Russian bureaucrat and bank trader has founded a hedge fund firm in Luxembourg.
Alexander Pylev’s Advantage Asset Management will launch its maiden product in the fourth quarter, HFMWeek reports. The global long/short strategy will definitely have exposure to Europe and the U.S., and may invest in Asia as well.
“The situation is very uncertain in the markets,” Pylev told HFM. “With many management companies still struggling after the 2008 crisis, clients are looking for a return on investments from other participants.”
Pylev is in talks with potential strategic partners Axioma Solutions and Topwater Investment Management; he hopes to raise US$100 million for the Advantage Foundation Fund, which has a US$100,000 minimum investment requirement with a three-month lock-up and charges 2% for management and 20% for performance.
Pylev was most recently a trader and adviser at Sudostroitelny Bank in Moscow. He also helped establish the bank’s foreign equities desk. Before entering finance, Pylev worked for the Russian government.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...