Wednesday, 25 November 2015
Last updated 9 min ago
Mar 29 2012 | 11:56am ET
Last year was not a good one for Morgan Stanley's managed futures funds.
Five of the Morgan Stanley Smith Barney's managed futures funds lost money last year, with total market losses of $79.1 million. Most of that amount came out of Spectrum Select, the largest fund, which fell 17.9% in 2011.
The average loss for the six was 9.5%, more than twice the decline of the Dow Jones Credit Suisse Management Futures Hedge Fund Index. The losses led Ceres Managed Futures, the Morgan Stanley subsidiary that oversees the fund, to fire two underlying managers, John W. Henry & Co. and Sunrise Capital Partners, last year. The fund managed by those two firms, the former Spectrum Currency, lost 9.8% last year.
Ceres has renamed the fund Spectrum Currency and Commodity.
All six of the funds were hit by investor redemptions; Spectrum Select saw $55.2 million pulled during the year, Morgan Stanley said.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…