Tuesday, 21 October 2014
Last updated 3 hours ago
Feb 22 2012 | 3:34am ET
A veteran Hong Kong hedge fund has joined the ranks of Asia's shuttered hedge funds.
Doric Capital Corp. has liquidated its flagship Focus Fund after losing 28% last year, Reuters reports. Doric itself is not shutting its doors and will continue to run its Asia Pacific Small Cap Fund.
Doric launched Focus in October 2001. The Asia ex-Japan equity long/short fund grew to US$350 million by 2006, but had shrunk to just US$25 million. The firm closed the fund last month.
"It was a tough decision to close down the Doric Fund given its long and respectable track record spanning over 10 years," Doric's Howard Wong told Reuters. "Nevertheless, its less-than-splendid performance in recent years has prompted us to re-align our core competency with our goal and thus focus on the Doric Asia Pac Fund."
Dozens of Asia-focused hedge funds have closed in recent years, including about 67 last year. Asian hedge funds manage almost 30% less than they did four years ago.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...