Friday, 27 November 2015
Last updated 2 hours ago
Jan 13 2012 | 1:09am ET
Australia's best-performing hedge fund is getting ready to close its doors to new investors—eventually.
Evergreen Capital Partners will close its 18-month old fund after it's doubled in size from its current A$100 million. That should take six to 12 months, co-founder Tim Hannon told Bloomberg News, as the firm basks in a 58% return over its first year-and-a-half.
That profit bests even Evergreen's already ambitious goal of 15% annualized returns.
"We don't want to manage a lot more money; our size is one of our chief competitive advantages," Hannon, formerly of Goldman Sachs JBWere, said. "I'm not doing any more marketing."
He won't have to if Evergreen's strategy, long resource stocks and short retailers, continues to produce as it has. Certainly, Hannon expects the short book to do so, saying Evergreen remains "extremely bearish" on "retail landlords."
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…