Friday, 22 August 2014
Last updated 2 hours ago
Feb 13 2012 | 4:52am ET
Last year was a bad one for hedge fund investors, and global asset manager Investcorp didn't escape the carnage.
The alternative investments firm said that its fiscal first-half profit plummeted more than 90%, battered by the performance of its hedge fund portfolio. The firm earned just US$5.3 million in the six months ended Dec. 31, down from US$56.2 million in the year-earlier period.
The dramatic profit drop-off was attributed almost entirely to declining hedge fund revenue. Indeed, Investcorp's client business activities and corporate investment asset-backed fees rose during the half.
"We are significantly readjusting our positioning to hedge funds and giving greater allocation to portfolio insurance," CFO Rishi Kapoor said. "We've taken aggressive moves to protect against the impact of hedge funds."
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note