Tuesday, 21 April 2015
Last updated 3 hours ago
Nov 23 2011 | 7:21am ET
Wells Fargo has struck upon a new way to measure hedge fund performance: by tracking their largest holdings.
The bank has launched an index that offers the real-time performance of the 100 largest stock holdings reported to the Securities and Exchange Commission by hedge funds and managed accounts. The new Wells Fargo Hedge Fund Manager Holdings Index, with the ticker symbol “HEDGE,” will be updated every 15 seconds by the New York Stock Exchange.
“Aggregating hedge fund holdings and illustrating the performance through an index will bring greater transparency to the sector,” Dan Forth, head of strategic indexing for Wells Fargo, said. “We believe the index will provide investors with a unique tool to help better manage their own portfolios, by providing them with a benchmark for measuring hedge funds’ performance in the market.”
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…