Monday, 1 September 2014
Last updated 3 days ago
Oct 12 2011 | 1:20pm ET
Three former Australian Goldman Sachs traders have shuttered their hedge fund, choosing to wait out the current economic turmoil before returning to the markets.
Global Trading Strategies, based in Sydney, stopped trading on July 31 and had returned 99% of its investors' capital by the middle of last month, Bloomberg News reports. The firm's founders, Brett Allender, Karl Mayer and Andrew Peden, former Goldman Sachs JBWere traders, decided "that the current environment wasn't conducive to their trading style and they thought it better to hand money back to investors," Murray Chatfield, chief operating officer, said.
"A lot of our investors didn't want us to do it, but we thought it was the correct thing to do," he added. "At some point we'd make a decision on how and when to re-enter the market."
The once-$1.2 billion global macro fund managed only $400 million at the end of July, following a year of negative returns. The six-year-old hedge fund, which began within Goldman Sachs JBWere, had doubled investors' money since inception and employed 24 people.
The fund's remaining 1% is being held back for regulatory reasons, Chatfield said.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...