Saturday, 23 May 2015
Last updated 1 day ago
Oct 25 2011 | 11:45am ET
Despite the difficulties faced by hedge funds in recent months, investors have stuck by them, even adding cash at a time when returns are suffering.
That could be changing, according to one top industry executive.
Hedge funds will likely suffer net redemptions in the fourth quarter, the Man Group's Luke Ellis said. "There will be a lot of people feeling uncomfortable about performance over the last six months," he explained.
"A lot of people are trying to work out what to do for year-end," Ellis added. "I'd expect you'd see net redemptions from the average hedge fund over the fourth quarter."
Ellis, who handles Man's multi-manager business, said that those outflows could be reversed early next year—although he isn't holding his breath.
"You could see outflows at the end of October and November, and then a whole bunch of inflows on 1 January," he said. "That's entirely credible, depending on what happens. But you might not see the inflows."
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…