Friday, 24 April 2015
Last updated 3 hours ago
Nov 9 2011 | 12:02pm ET
As it turns out, millionaire investors pick the same hedge funds that most of us would to manage their fortunes.
Elliott Associates is the most popular hedge fund manager among members of TIGER 21, the 180-member investment club that runs a collective $15 billion, the club said in its annual report. Alpine Associates and Kyle Bass' Hayman Capital Partners are also broadly favored, as are Millennium Management, Greenlight Capital, Viking Global Investors and—despite its miserable year—Paulson & Co.
"The majority of members said they were keeping the same asset allocation structure," TIGER 21 said. "Typically, we see very little changes within 12 months time frames."
TIGER 21 members did increase their investments in hedge funds, which now make up 12% of their collective portfolio—the highest level since 2007. But hedge funds remain the third-most-popular asset class for members, after real estate—"many members have created their wealth in this space, understand it, and continue to invest in an area they know well"—and stocks.
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…