Friday, 19 December 2014
Last updated 7 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."
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.