Tuesday, 23 September 2014
Last updated 2 hours 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 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.