Thursday, 27 November 2014
Last updated 16 hours ago
May 14 2012 | 1:24pm ET
Goldman Sachs' former top proprietary trader is still in a "frustrating" fight to find his footing at his hedge fund.
Pierre-Henri Flamand told investors last week that his Edoma Capital lost 0.85% in the first quarter. The year-and-a-half old hedge fund has yet to make a dime for investors—it's down 3.1% since its inception in November 2010.
Flamand raised US$2 billion for the fund, one of the most hotly-anticipated in recent years. But early returns have not repaid investor confidence, even as other hedge funds have enjoyed positive returns in the first quarter as the broader markets rallied.
Edoma acknowledged it missed out on that rally during what it called a "frustrating" period, characterized by momentum-driven trading.
"It is important to realize the high likelihood of this trend continuing, and to focus on the few stocks in Europe and elsewhere that have the requisite global growth and liquidity characteristics that asset allocators are favoring right now," the firm wrote.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...