Thursday, 18 September 2014
Last updated 15 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 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.