Wednesday, 6 May 2015
Last updated 8 hours ago
Dec 21 2011 | 2:12am ET
By almost all measures, 2011 has been a pretty miserable year for hedge funds. But while clients have, in recent months, shown decreasing patience with the asset class, they aren't storming for the doors as the year draws to a close.
December redemption requests are actually a tick lower than last year, despite the fact that the average hedge fund rose more than 10% in 2010 and is down about 4% this year. According to the GlobeOp Forward Redemption Indicator, hedge fund investors sought to pull 4.58% of industry assets this month, compared to 4.59% a year ago.
December's total was up from 3.44% in November and is the highest of the year, but that is nothing new for the industry, which generally sees its highest number of redemptions at the end of the year.
"The month-on-month increase is within the normal range of a seasonal pattern, as investors prepare to rebalance their portfolios at year end," GlobeOp CEO Hans Hufschmid said.
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…