Monday, 20 April 2015
Last updated 5 hours ago
Nov 9 2011 | 11:29am ET
After months of providing impressive inflows, pushing the hedge fund industry to asset levels not seen since before the credit crisis, investors have suddenly abandoned hedge funds in a big way.
That investors pulled money from hedge funds in September, at the end of a miserable third quarter for the industry, is already well-known. But new data from Société Générale show that hedge funds took a much bigger hit than previously reported.
Hedge funds lost some $33 billion in assets to net outflows in September, the numbers show. Earlier estimates from other data providers had outflows of less than $20 billion.
All strategies lost money to investor redemptions in September, "even multi-strategy, the best performing hedge fund category year-to-date," SocGen's Alain Bokobza told Financial News.
Multi-strategy funds lost 5% of their assets, or $17 billion, to outflows on the month.
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…