Monday, 20 October 2014
Last updated 2 days ago
Apr 30 2012 | 2:35pm ET
K2 Advisors is to shut its fund of currency hedge funds after the departure of its portfolio manager.
The Connecticut-based firm decided to close the six-year-old Active Currency Fund, the first specialist currency fund of funds when it launched in 2006, after the manager resigned. It will liquidate the $22 million fund and return money to investors; in its place, K2 plans to launch a macro fund of funds that will include currency managers, HFMWeek reports.
The decision to shutter the Currency Fund ends its somewhat turbulent life: The fund was comprehensively restructured two years ago after all of its underlying foreign exchange managers closed.
K2's new fund of funds will debut on May 1. But at least one of the Currency fund's current investors won't be sticking around to see it.
The $3.1 billion Ventura County (Calif.) Employees' Retirement Association will redeem its $10 million commitment to the fund, it told HFMWeek. The pension said it expected to get $8 million back.
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 ...