Monday, 22 September 2014
Last updated 5 hours ago
Nov 30 2011 | 12:12pm ET
Most hedge funds managed to gain some ground last month as the stock markets rallied. Not so currency hedge funds.
The average foreign exchange hedge fund lost 1.33% in October, according to Parker Global Strategies. The firm, which invests in currency funds, said that the average such fund is down more than 3% over the past 12 months.
Systematic currency funds were hardest hit, dropping 1.75%, while those primarily relying on human decisions fell 0.9%. Systematic funds are down 3.4% on the year.
Within PGS's portfolio, which includes 59 programs with US$46 billion in assets under management, returns ranged from a 4.4% increase to a 9.5% decline.
Among the major factors was the surprise fall in the value of the U.S. dollar against the euro and other currencies. Many currency hedge funds have fled to the greenback amidst growing concerns about the European debt crisis.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.