Friday, 19 December 2014
Last updated 15 hours ago
Feb 6 2012 | 3:06pm ET
CQS has launched a new mortgage-backed securities hedge fund with US$140 million in initial assets.
The CQS ABS Alpha Fund debuted this month, Bloomberg News reports. In addition to the initial assets, the fund has another US$60 million in commitments, but CQS told clients that "further inflows will be contingent on market opportunity."
The new fund will be run by Alistair Lumsden, who managed the firm's existing ABS Fund. That vehicle has managed a 29.3% annualized return since its inception in 2006; CQS restricted inflows into the $2 billion fund in May.
ABS Alpha will be a riskier play than the ABS fund, using more leverage, less hedging and building a more concentrated portfolio of less-liquid investments. Given those plans, the fund has a one-year lockup with early-withdrawal penalties. In addition, investors will only be able to pull a quarter of their money each quarter.
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.