Monday, 22 December 2014
Last updated 17 hours ago
Dec 23 2011 | 9:58am ET
BBVA Asset Management will shutter Spain's first hedge fund, which has suffered crippling redemptions in recent months.
Investors redeemed more than 95% of BBVA Codespa Microfinanzas' assets in November alone, leaving the fund with just €24 million in assets and 29 investors, BBVA said. At the beginning of the year, Codespa managed about €680 million.
BBVA said market conditions, lack of demand and the precipitous decline in assets were behind the decision to shut the fund, which has suspended redemptions for the duration of its liquidation.
Codespa was launched in 2006. It invests in unlisted microfinance in the Dominican Republic, Nicaragua and Peru.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.