Saturday, 23 May 2015
Last updated 13 hours ago
Oct 21 2011 | 9:34am ET
Fortress Investment Group, the U.S. based hedge fund manager with $44 billion AUM, plans to launch a second Asia fund next year.
Adam Levinson, CIO of the Fortress Asia Macro Funds, confirmed the company’s plans to reporters in Singapore on Friday, reports Reuters.
"We're starting a vol-based convexity fund sometime next year," he said, without elaborating.
Such funds are intended to protect investors from market volatility and tail risks.
The Fortress Asia Macro Fund was down 2.5% in September and 1.23% YTD.
Reuters says Levinson, a former Tudor Investment Corp fund manager and Goldman Sachs prop. trader, told an earlier conference at a Singapore university that Europe’s debt situation is influencing Asia’s economy. He characterized the European situation as fluid, saying it could end in either a somewhat positive outcome or a complete mess.
"In either case you are destined for a significant recession in Europe next year," he said, adding that would cement the case for low interest rates around the world.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…