Thursday, 2 October 2014
Last updated 5 min ago
Jan 31 2012 | 5:54pm ET
Two firms have joined forces to launch a new hedge fund that seeks to do well by doing good.
The Do The Right Thing fund will invest in companies and market sectors dealing with hunger, thirst and disease, as well as in clean energy, HFMWeek reports. In addition, the fund, which will have long fixed-income, options selling and position trading portfolios, will also donate part of its fees to charity.
The fund is the brainchild of California-based Herron Capital Management and Britain's Interbank Trading Technologies. It will launch within the next two to three months.
"We believe that investors can dictate the tempo of providing real solutions for our world's problems by investing in new technologies designed to move humanity forward," portfolio manager Michael Herron told HFM.
In addition to any returns, investors will get to choose which charities get a piece of the fund's fees—and a tax deduction, to boot. The fund offers a capital guarantee and minimum rate of return.
Do The Right Thing has a $25,000 minimum investment requirement and $2 billion capacity, with a five-year lockup for investors who choose the capital guarantee and no lockup for those who forego it. It will charge 1.5% for management and 25% for performance.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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